Covenant Trends – 7/20/2020
Average Unadjusted Leverage for M&A-Driven Loan Deals Contact: Steven Miller
Average Unadjusted Leverage for M&A-Driven Loan Deals Contact: Steven Miller
Average Adjusted Leverage for M&A-Driven Loan Deals Contact: Steven Miller
Average EBITDA Adjustment Cap for Synergies & Cost Savings Contact: Steven Miller
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller
Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x (All Deals) Contact: Steven Miller
Percentage of Loans with MFN Carveouts Contact: Steven Miller
Average EBITDA Adjustment Cap for Synergies & Cost Savings Contact: Steven Miller
Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller
Initial ECF Sweep Distribution Contact: Steven Miller
Percentage of Loans with Asset Sale Sweep Step-downs Contact: Steven Miller