Uncovenanted
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Treasury - debt documentation - loan documentation - bond documentation.
In debt documentation, covenants are generally about protecting the lender-investor against an increase in their credit risk relating to the borrower.
In this context, uncovenanted means containing no such covenants.
- Strong credit rating and uncovenanted $4.5bn Revolving Credit Facility (RCF)
- "Core objectives included consolidating available liquidity to reflect the enlarged group, achieving an uncovenanted RCF and other improvements to reflect its strong credit rating... and establishing a highly supportive bank group."
- ACT Deals of the Year 2024 - Loans above £1bn - Smurfit Westrock.
See also
- Acceleration
- Bond
- Breach of covenant
- Condition
- Contingent covenant
- Contract
- Covenant
- Covenant-lite
- Covenant trigger
- Credit rating
- Credit risk
- Default
- Documentation
- Event of default
- Financial covenant
- Interest cover
- Loan
- Loan agreement
- Net worth
- Non-financial covenant
- Representations
- Restrictive covenant
- Revolving credit facility (RCF)
- Treasury
- Warranty
