medium · Private Credit & Debt portfolio-management-monitoring-workouts
A $250,000,000 Unitranche facility is structured as $175,000,000 First-Out and $75,000,000 Last-Out. Administrative expenses in a liquidation are $5,000,000.
If the total recovery is $170,000,000, what is the recovery for the First-Out lender?
- 97.1%
- 100%
- 66%
- 94.3%
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