A covenant in a bond issue that allows a bondholder to sell, or put, a bond back to the issuer at par or at a premium in the aftermath of a designated event such as a takeover, merger, or major recapitalization. This put usually appeals to investors who are concerned that some sudden event will occur and increase the credit risk of an issuer, which in turn could badly affect bondholders and force an issuer to pay extremely high interest rates. Therefore, it is usually said that super poison puts are good for the management of event risk.

A super poison put also helps issuers contain interest rate risk associated with their bonds.