More Loans -- And Still Better Terms

March 2004
Investment Dealers' Digest;3/29/2004, Vol. 70 Issue 13, p7
Trade Publication
With several mega merger and acquisition-related transactions and numerous middle-market merger deals in the pipeline, a bumper crop of acquisition finance loans is in the works. And investors are so eager for the deals that not only have rates hit rock-bottom, but borrowers are finding that more leverage is acceptable, covenants are more lenient, and coverage tests-benchmarks a borrower must meet to assure lenders that it is generating cashflow above its operating expenses and other fixed obligations-are likewise lower.


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