medium · Private Equity
A company has an LTM EBITDA of $20M. A 'Covenant EBITDA' definition allows for 25% add-backs for pro-forma synergies.
What is the maximum debt allowed if the leverage covenant is set at 5.0x Covenant EBITDA?
- $100M
- $125M
- $112.5M
- $150M
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