Glossary Category: E

Equity stake or warrant given to lenders as an incentive in mezzanine or subordinated debt deals. Risk of being unable to renew or replace maturing

Value of equity in a leveraged transaction, serving as protection for debt holders against losses. Can be considered either in absolute/monetary terms, or as a

Adjustments to EBITDA to account for a large range of items including: non-recurring or extraordinary expenses, expected cost savings as a result of measures already