medium · Private Credit underwriting-credit-analysis
A borrower has $300,000,000 in total debt, including a Mezzanine tranche that has capitalized $12,000,000 in PIK interest over the last year. The company holds $40,000,000 in cash.
If the LTM EBITDA is $75,000,000, what is the current Net Leverage?
- 3.31x
- 3.47x
- 4.00x
- 3.63x
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