Covenant Trends – 5/7/2018
Distribution of MFN Maturity Carveout Lengths 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
Percentage of Loans with F&C Tranche Growers Contact: Steven Miller
Distribution of MFN Sunset Lengths Contact: Steven Miller
Percentage of Deals with 75+ bps MFN Contact: Steven Miller
Average Adjustments for EBITDA Reconciliation, M&A-Related Loans Contact: Steven Miller
Percentage of Deals with >6x Adjusted Total Leverage (M&A-Related vs. LBOs) Contact: Steven Miller
Average Minimum Discretionary Debt Capacity Contact: Steven Miller
Average Free-and-Clear Dollar Cap as a Multiple of Pro Forma Adjusted EBITDA Contact: Steven Miller