An assessment of the level of debt being raised for a transaction, particularly in Leveraged Buyouts (LBOs).
LTV is the ratio (expressed in %) between (A) and (B), where:
(A) is the Debt raised to finance the transaction; and
(B) is the Enterprise Value (EV) of the transaction

See also: Equity Cushion

If you would like to learn more about the financing process, please see our Termgrid Primers – Series 1: The Debt Financing Process.