Covenant Trends – 9/3/2018
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed) Contact: Steven Miller
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed) Contact: Steven Miller
Credit Stats by Sector, First Lien vs. Non-First-Lien Leverage Contact: Steven Miller
Average EBITDA Adjustment Cap for Synergies & Cost Savings Contact: Steven Miller
Percentage of Deals with 75+ bps MFN Contact: Steven Miller
Percentage of Loans with F&C Tranche / Pro Forma Adjusted EBITDA >0.9x Contact: Steven Miller
Distribution of MFN Sunset Horizons Contact: Steven Miller
Average Adjustments for EBITDA Reconciliation as Percentage of PF Adjusted EBITDA Contact: Steven Miller
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (M&A-Related) Contact: Steven Miller
Percentage of M&A Deals with Initial Adjusted Leverage of 4x or Lower Contact: Steven Miller smiller@covenantreview
Percentage of Deals with Initial Adjusted Leverage of 7x or Higher Contact: Steven Miller