Leveraged Loan Insight & Analysis – 5/8/2017

Lender Survey: Compared to the historical average, loan recoveries will be:

Many investors have a wish list for rolling back structural deterioration with, not surprising, bringing back covenants with clean historical EBITDA definition meaning capped add-backs and no inclusion of projected results or cost savings at the top of the list. Although a lower spread impacts the immediate economics of a deal,