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👇 #Foncia covenants are pretty grim 🤮 ... maybe even worse than #Ahlstrom... just a few examples of things you can do under the docs below... Message us for our full Legals QuickTake! #LevFin #HighYield
💸 Make Restricted Payments (dividends or investments capacity) while in Default or Event of Default, with no requirement to meet the most basic financial health test of 2.0x interest cover 🤷♂️
🤔Sell assets (incl. collateral) with no requirement to apply the proceeds to repay secured debt (or in some instances any debt at all).
