reducing leverage to ensure compliance with covenants under other indebtedness and.There are a number of reasons a company might consider repurchasing its debt, including, but not limited to: Why should a company repurchase its debt? See all our COVID-19 publications and webinars. This alert addresses the questions surrounding debt repurchases that companies should consider when evaluating the advantages, disadvantages, legal implications and strategic considerations of debt repurchases in a turbulent market. In light of the recent downturn and increased volatility in the global financial markets due to the COVID-19 pandemic, a number of companies have raised questions regarding the best practices and desirability of repurchasing their debt.