Middle Market Corporate Lending
$175.0 Million First Lien Term Loan
Equipment Finance $9.35 Million
Senior Secured Term Loan
Industry: Manfacturing IT Services
Term: 7 years 37 Months
Senior Leverage: 3.36x (45.8% LTV) 6.0x
Amortization: 1% per annum
50% excess cash flow (ECF) sweep
with leverage-based step downs
3-year, fully amortizing
Covenants: Maximum Total Leverage;
Minimum Fixed Charge Coverage
Maximum Total Leverage;
Minimum Fixed Charge Coverage
Debt Service Coverage: 1.84x 2.0x
Estimated Yield*: 4.11% 4.24%
Credit Highlights:
  • Meaningful barriers to competition
  • 40-year operating track record
  • Loyal customers base comprised of largely multinational corporations
  • Secured by essential use equipment
  • Contracted revenue base
  • Multiple sources of credit support

*This yield is net of advisory fees and expenses paid to AP.