Debtwire Middle-Market – 5/20/2019

Share of cov-lite loans slips in 2019,
but remains the market standard


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Source: Debtwire Par, Xtract Research

After reaching a high in the 80% area in 2017 and 2018, the covenant-lite share of institutional loans has slipped this year to 72% as lenders have in some instances been able to push back against the lack of covenants. But despite this relative improvement, cov-lite loans remain the market standard.