Covenant Trends – 7/16/2018
Distribution of MFN Sunset Horizons 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
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