Puerto Rico Senior Debt Term Sheet
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How to fill out Senior Debt Term Sheet?
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FAQ
On the other hand, senior debt financing is a high-priority loan backed by collateral and offered at a lower interest rate. How is senior debt calculated? Senior loan or debt is 2 to 3 times EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization).
Senior Debt Ratio means, with respect to any Loan, the ratio of Senior Total Funded Debt to TTM EBITDA of the related Obligor, calculated in ance with the corresponding amount or ratio in the underlying Related Documents for such Loan utilizing the most recently delivered financial results for the related Obligor ...
Senior unsecured debt differs from senior secured debt in that it is not secured by collateral. Instead, debtholders have only a general claim against company assets. If the company goes bankrupt, senior unsecured debtholders are the first tranche to be paid using company assets not held for senior secured debtholders.
Any debt with higher priority over other forms of debt is considered senior debt. For example, a company has debt A that totals $1 million and debt B that totals $500,000. Debt A is senior debt, and debt B is subordinated debt. If the company files for bankruptcy, it must liquidate all of its assets to repay the debt.
Senior debt is debt and obligations which are prioritized for repayment in the case of bankruptcy. Senior debt has the highest priority and therefore the lowest risk. Thus, this type of debt typically carries or offers lower interest rates.
Senior debts are loans secured by collateral (assets) that must be paid off before any other debts when a company goes into default. The lender in this case is paid out of the sale of the company's assets in priority sequence. Their priority position makes senior debts less risky for lenders.