Restrictive covenants would likely prohibit the issuing firm from doing any of the following except:

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Restrictive covenants are conditions included in debt agreements by lenders to limit the borrower's actions in order to protect the lender's interests. While they often restrict the company from increasing current liabilities, paying dividends, and issuing future debt to ensure the company maintains a certain financial stability and is able to repay its debts, issuing common stock is generally not prohibited. In fact, issuing common stock can be seen as a positive action from a creditor's perspective, as it can bring additional equity into the company, potentially strengthening its financial position without increasing debt.

Restrictive Covenants Would Likely Prohibit the Issuing Firm from Doing