Covenant Review

Covenant Trends - 6/9/2025

Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 6/2/2025

Percentage of Loans that Allow Uncapped Synergies & Cost Savings EBITDA Adjustments, Sponsored v Non-Sponsored (LTM) (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 5/26/2025

Average New-Issue Clearing Spreads (Single B) and Covenant Terms for All First-Lien Institutional Loans (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 5/19/2025

Distribution of MFN Sunset Horizons (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 5/12/2025

Average Total Deleveraging Required To Meet RP Ratio Test (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 5/5/2025

Percentage of Loans with Asset Sale Sweep Step-downs (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 4/28/2025

Distribution of Accordion F&C Tranche EBITDA Grower Caps (L3M) (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 4/21/2025

Accordion Inside Maturity (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 4/14/2025

Average EBITDA Adjustment Cap for Synergies & Cost Savings (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

Covenant Trends - 4/7/2025

Share of New-Issue Institutional Loans with a Pick-Your-Poison Provision by Quarter (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com