Covenant-lite: Difference between revisions
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'Covenant-lite' describes loan agreements which have relatively fewer and less onerous ('lite') covenants, typically to conform to other loans of the same borrower. | 'Covenant-lite' describes loan agreements which have relatively fewer and less onerous ('lite') covenants, typically to conform to other loans of the same borrower. | ||
Sometimes shortened to ''cov-lite''. | |||
Revision as of 07:37, 13 December 2016
Long term funding
'Covenant-lite' describes loan agreements which have relatively fewer and less onerous ('lite') covenants, typically to conform to other loans of the same borrower.
Sometimes shortened to cov-lite.
The origin of 'lite' is an intentional mis-spelling of 'light', used to describe lower-alcohol beers.
