Debt covenants are restrictions imposed by bondholders on the issuer in order to protect the bondholders’ position. Which of the following is least likely to be an area in which restrictions are imposed by debt covenants（）
A. Issuance of new debt.
B. Sinking fund agreements.
C. Bond repurchases at a premium to par.
参考答案：C
解析：
Covenants protect bondholders from actions the firm may take that would decrease credit quality and reduce the value of the bondholders’ claims to firm assets and earnings. Examples of covenants include restrictions on : 1 ) dividend payments and share repurchases; 2) mergers and acquisitions, and sale, leaseback, and disposal of certain assets ; 3) issuance of new debt ; 4) repayment patterns (e. g. sinking fund agreements and priority of claims).