Uncovenanted

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