Covenant Trends – 4/23/2018
Percentage of Loans with MFN Carveouts Contact: Steven Miller smiller@covenantreview
Percentage of Loans with MFN Carveouts Contact: Steven Miller smiller@covenantreview
Percentage of Loans with F&C Tranche Growers Contact: Steven Miller smiller@covenantreview
Distribution of MFN Sunset Lengths Contact: Steven Miller smiller@covenantreview
Percentage of Deals with 75+ bps MFN Contact: Steven Miller smiller@covenantreview
Average Adjustments for EBITDA Reconciliation, M&A-Related Loans Contact: Steven Miller smiller@covenantreview
Percentage of Deals with >6x Adjusted Total Leverage (M&A-Related vs. LBOs) Contact: Steven Miller smiller@covenantreview
Average Minimum Discretionary Debt Capacity Contact: Steven Miller smiller@covenantreview
Average Free-and-Clear Dollar Cap as a Multiple of Pro Forma Adjusted EBITDA Contact: Steven Miller smiller@covenantreview
Average F&C Tranche / Pro Forma EBITDA Based on Initial PF Leverage Contact: Steven Miller smiller@covenantreview
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed) Contact: Steven Miller smiller@covenantreview