easy · Debt Capital Markets primary-issuance-syndication

In the context of a leveraged buyout (LBO), which of the following best describes the 'Equity Check'?

1. The cash contribution from the private equity sponsor used to balance the sources and uses
2. The arrangement and underwriting fees paid to the investment banks on the bonds
3. The total quantum of senior and subordinated debt raised to fund the acquisition purchase price
4. The recurring annual dividend distributed to the common shareholders

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