Covenant Trends – 1/13/2025
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (M&A-Related vs. All Deals) (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (M&A-Related vs. All Deals) (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Percentage of Loans that Allow Uncapped Synergies & Cost Savings EBITDA Adjustments, Sponsored vs. Non-Sponsored (LTM) (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
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
Distribution of MFN Sunset Horizons (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Average Total Deleveraging Required To Meet RP Ratio Test (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Percentage of Loans with Asset Sale Sweep Step-downs (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Accordion Inside Maturity (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Average EBITDA Adjustment Cap for Synergies & Cost Savings (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Distribution of Accordion F&C Tranche EBITDA Grower Caps (Q2 2024) (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
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