Covenant Trends – 6/25/2018
Percentage of M&A Deals with Initial Adjusted Leverage of 4x or Lower Contact: Steven Miller smiller@covenantreview
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
Minimum General Purpose Debt Capacity for M&A-Related Loans Contact: Steven Miller
Average Unadjusted Leverage for M&A-Related Loans Through F&C Contact: Steven Miller
Average Adjustments for EBITDA Reconciliation, M&A-Related Loans Contact: Steven Miller
Average Adjusted Leverage Through F&C for M&A-Driven Loan Deals Contact: Steven Miller
Average F&C Tranche / PF Adjusted EBITDA Based on Closing PF Adjusted Leverage (L3M) Contact: Steven Miller
Distribution of MFN Maturity Carveout Lengths Contact: Steven Miller
Distribution of Synergies & Cost Savings EBITDA Addback Time Horizons (for Actions Resulting in Addbacks) Contact: Steven Miller
Percentage of Loans with MFN Carveouts Contact: Steven Miller