Glossary Category: F

Term used in Underwritten Financings to refer to an underwriter’s ability to adjust pricing or certain terms during syndication. Flex terms and the situation in

A financial metric that measures a company’s ability to cover its fixed obligations—such as interest, lease payments, taxes, and sometimes capital expenditures (capex)—using its operating

Senior secured debt with the highest repayment priority and first claim on collateral in case of insolvency or bankruptcy If you would like to learn

A short document including a list of key documentation terms related to a debt financing. The financing grid is often used by private equity sponsors

Contractual provision in a Credit Agreement requiring the borrower to maintain a certain financial metric above or below a pre-agreed threshold. Financial covenants are tested