Covenant Negotiation

Covenants you can live with, agreed before they bind.

Enter the lender's proposed package. The engine tests it against your projection and a downside case, measures how much room each covenant leaves, values every concession you could ask for, and builds a counter-proposal on the lender's own definitions.

Lender's proposal Name

Default DSCR (x) Lock-up DSCR (x, blank = none) Equity cures

DSCR tested on Minimum liquidity (m, blank = none)

Maintenance capex deducted in covenant CFADS Maximum net debt / EBITDA (one level, or one per year separated by commas; blank = none)

Our targets

EBITDA headroom to default (%) EBITDA headroom to lock-up (%)

Facility

Amount (m) Interest rate (%) Tenor (years)

Grace (years) Profile Interest basis

Downside case

Revenue (x) Operating costs (x) Delay (years)

Company

Name Currency

Tax rate (%) Working capital (% of revenue) Opening cash (m)

Maintenance reserve (years; 0 = none)

Projection, millions a year

Paste columns straight from Excel into any cell: year, revenue, operating costs, maintenance capex, depreciation.

Year

Revenue

Opex

Capex

Depreciation