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9fin announces launch of latest enhancements to Covenant Capacity Tool
Runa Soberg
•1 min read
We’re excited to launch the latest enhancements to 9fin’s Covenant Capacity Tool.
By combining our comprehensive financials database and our AI-powered covenant detection we're able to track a company's current covenant flexibility and compare it with at initial issuance. That means 9fin subscribers can compare any Issuer's ability to incur debt, grant security, make restricted payments or investments on 9fin.com.
With our updated grid view, it’s easier than ever to quickly check an issuer’s overall capacity, with the ability to explore specific baskets in more detail and trace these back to the original source documents.
Covenant Capacity also lets you track a number of other key covenant features, such as caps and time limits on EBITDA adjustments and portability leverage thresholds.
For bankers, lawyers and advisors, Covenant Capacity allows you to both build covenant comps and uncover new deal ideas - for example which companies have the most super senior debt or restricted payments capacity in market at the moment?
For the buyside Covenant Capacity allows you to triage opportunities, spot aggressive terms and use data rather than subjective opinions or reports to understand a deal's key covenants.
Subscribers can use this tool to benchmark new deals against the market. It’s simple to build comp sets using our range of filters to analyse how covenant flexibility stacks up across industries and sponsors, and to sort by issue date to see where the most recent deals fall.
Users can also use this data to uncover which issuers might be able to do a dividend recap deal, what capacity an issuer has to raise priming debt or whether an issuer is able to utilise portability in a change of control.
If you are interested in more of our coverage on Adler and shareholder Aggregate, please listen to our podcast or any of your normal channels.
If you would like to try 9fin's Covenant Capacity Tool for yourself, please sign up for a free, no obligation trial.
