Glossary

FIELD	DEFINITION
% of Net Income	Percentage of net income that can be converted into dividends.
100% Vote	Indication of whether all lenders were required to vote on the closing of this deal or facility. Yes or No.
Acc. Rec. - Domestic (%)	Percentage of eligible domestic accounts receivables as defined in the loan document.
Acc. Rec. - Foreign (%)	Percentage of eligible foreign accounts receivables as defined in the loan document.
Accounts Receivable	Sum of all accounts receivable - foreign and domestic expressed as a percentage of eligible outstanding receivables as defined in the loan document.  Eligibility is generally measured in days (terms). These amounts owed to the borrower are "aged" over time to monitor delinquent accounts.
Agent	The lender(s) who acted as an Agent on the loan.
Agent Consent	The agent's agreement is required in order for an institution to trade all or portion of a loan to another entity.
All Covenants : Financial	A list of all known financial covenants associated with the loan.
All Fees	A listing of all fees associated with the tranche that has LPC has captured.
All Lenders	All Lender(s) who participated in the loan.
All-in Fee (Asia-only);	All-in pricing/yr, calculate by upfront fee divided by tenor (average life if have)+ margin
All-in Spread Drawn	Describes the amount the borrower pays in basis points over LIBOR for each dollar drawn down. It adds the spread of the loan with any annual (or facility) fee paid to the bank group.
All-in Spread Undrawn	Measures the amount a borrower pays for each dollar available under a commitment. It adds the commitment and annual fee.
Amend & Extend Flag	For analytic purposes, LPC defines an amend and extend during instances when a portion of the lending group wishes not to extend out their commitments. Thus only a percentage of the original overall commitment amount would get extended and that portion would get flagged as amend & extend volume.
Annual Fee	Annual charge against the entire commitment amount, whether used or unused. Also referred to as the facility fee.
Arranger	The lender(s) who acted as an Arranger on the loan.
Asset Based	Loans made available to corporate borrowers against identified accounts receivable, inventory and/or fixed assets, which are, in turn, pledged to support solely the given asset based loan.
Asset Sales Sweep	The amount a loan must be repaid from excess asset sales.
Assignment Fee	Fee paid to the agent bank for handling the assignment documentation required when trading.
Assignment Minimum	The minimum amount of a facility that can be traded under an assignment.
Average Life	Number of years until that time when one-half of each dollar of principal value in a security or other debt note will be paid.
Banker's Acceptance	Written demand that has been accepted by a bank to pay a given sum at a given future rate.
Base rate comment	Comments associated with that particular Base Rate.
Base/Reference Rate	The rate of interest that banks charge each other for loans. Banks lend to borrowers at some mark above the base rate. The most common base rate is the London Inter-Bank Offer Rate (LIBOR).
Basis Point Issue	The issue number or range of numbers of Basis Point to search on
Bid Option	Option for banks to bid for facility price available in the credit agreement.
Bookrunner	The lender(s) who acted as Bookrunner on the loan.
Borrower Base	Loan containing a borrowing base, or formula, used to limit the amount that can be borrowed.
Borrower Consent	The borrower's agreement is required in order for an institution to trade all or portion of a loan to another entity.
Borrower Name	The native language name of the company.
Borrower Type	A description of the company's business practice.
Broad Industry Group	The company's major industry classification.
Cancellation Fee	Charge against termination or commitment reduction.
Cash & Cash Equivalents (%)	Percentage of the borrower's currency and currency equivalents according to criteria defined in the loan document.
Cash Interest Coverage Ratio	As defined by the loan agreement, usually Operating Cash Flow divided by Cash Interest Expense.
City	The city where the company operates from, most likely its headquarters.
Closed Date	The date, if known, when the syndication period has ended.
Co-Arranger	The lender(s) who acted as a Co-Arranger on the loan.
Collateral Release	The required voting percentage of all lenders to release of any lien on collateral associated with a deal.
Collateral/Security Type	The type of collateral the tranche is secured by.
Commitment Fee	Fee charged on the commitment amount that is undrawn.
Completion Date	Primarily used in EMEA, it represents the date when the entire loan structuring, syndication and signing has been completed.
Country	The recognized operating country of the company.
Country of Syndication	The Country where the loan was syndicated.  This field is used in conjunction with LPC's volume numbers.
Covenant Lite	A facility which is not restricted by maintenance covenants.
Covenants	Indication of whether or not financial covenants exist.
Current Ratio	As defined by the loan agreement, usually Current Assets (cash, marketable securities, accounts receivable, inventories, etc.) divided by Current Liabilities (accounts payable, short-term debt of less than one year, etc.).
Deal Active	Indication of whether or not the loan package is active or not.
Deal Active Date	The active or closing date of the loan package.
Deal Amount	The total amount of the loan package.
Deal Currency	The Primary Currency that the loan package was issued in.
Deal Input Date	The date that details of the loan were first entered into the database.
Deal Purpose	The Primary Purpose of the loan package.
Deal Refinancing	Indication of whether or not the loan package refinanced a prior loan.
Deal Remark	Comments associated with the loan package.
Debt Issue Sweep (%)	The percentage amount of debt issuance that a loan must be repaid from.
Debt Service Coverage Ratio	As defined by the loan agreement, usually EBITDA divided by interest expense plus the quantity of principal repayments.
Debt to Cash Flow	As defined by the loan agreement, usually Outstanding Debt divided by Net Income plus Depreciation and Other Non-Cash Charges.
Debt to Equity Ratio	As defined by the loan agreement, usually Total Liabilities divided by Total Equity
Debt to Tangible Net Worth Ratio	As defined by the loan agreement, usually Total Debt divided by Net Worth minus intangible assets.
Distribution Method	The distribution (syndication) method the tranche was issued in.
Documentary Issuing Fee	Fee applicable to issuing documentary letters of credit.
Documentary LC Fee	Fee applicable to documentary letters of credit.
Eligible Property Value (%)	Percentage of the value of borrower's eligible real estate and property as defined in the loan document. .
Equity Issue Sweep (%)	The percentage amount of equity issuance that a loan must be repaid from.
Excess CF Sweep	The amount a loan must be repaid from excess cash flow.
Financial Covenants comment	Comments associated with the financial covenants of the loan.
Fixed Charge Coverage Ratio	As defined by the loan agreement, usually EBITDA divided by Interest Charges paid plus long-term Lease payments.
Floor	The lowest margin agreed to be used in calculting interest. Acts as protection from losses resulting from a decrease in interest rates.
Foreign Exchange	The borrower has the option to use the credit agreement as a vehicle to exchange different currencies at a set time and a set rate.
Guarantor	The company who is the guarantor of the loan.
Highly Leveraged	Leveraged loan with pricing 100 bps higher than the pricing thresholds set forth for a leveraged loan. See League Table Guidelines for pricing criteria.
Hybrid	A loan facility having characteristics of a bond.
Institutional	A loan that is structured to be sold to institutional investors.
Institution Type	The type of Institution the lender is.
Insurance Proceeds Sweep (%)	The percentage amount of insurance proceeds that a loan must be repaid from.
Interest Coverage Ratio	As defined by the loan agreement, usually EBITDA divided by Interest Expense.
Inv. - Finished Goods (%)	Percentage of borrower's eligible finished goods as defined in the loan document.
Inv. - Raw Material (%)	Percentage of borrower's eligible raw materials on hand as defined in the loan document.
Inv. - Work in Progress (%)	Percentage of borrower's work in progress as defined in the loan document.
Inventory (%)	Percentage of borrower's work-in-progress, finished goods, and any other goods, that a company is carrying to facilitate production/delivery of goods and services as defined in the loan document.
Investment Grade	Loan to a borrowers rated BBB-/Baa3 or higher with pricing thresholds based on market trends which change over time. See League Table Guidelines for pricing criteria.
Islamic Financing	Financing which is consistent with the principles of Sharia (Islamic law).
Launch Date	The date the loan begins the syndication process.
Law Firm Name	Name of the Law Firm involved in the deal.
Law Firm Role	The Role of the Law Firm involved in the loan, either Primary or participant for the Borrower or Lender.
LBO	Loan which backs a transaction that takes a public company private. This segment includes Leveraged Buyouts, Management Buyouts and Sponsor to Sponsor Buyouts.
Lead Arranger	The lender(s) who acted as Lead Arranger on the loan.
Lead Manager	The lender(s) who acted as a Lead Manager on the loan.
League Table Amount	Amount in US$ for which the facility or deal was eligible to receive League Table credit under LPC's guidelines for League Tables. It is possible for this amount to be smaller than the tranche or deal amount, even $0. However, the value cannot be negative nor higher than the tranche or deal amount.
League Table Amount Converted	League Table Amount converted to other selected currency. In most reports where this appears, the currency is selected by the user.
League Table Credit	Indication that the tranche received League Table credit under LPC's guidelines for League Tables.
League Table Tranche Date	The date when the tranche is recognized as receiving League Table credit.
Lender Name	The name of the lender on the loan.
Lender Operating Country	The country where the Lender(s) on the loan operate.
Lender Parent Name	The parent name of the lender on the loan.
Lender Region	The region where the Lender(s) on the loan operate.
Letter of Credit	Credit instrument issued by a bank, guaranteeing payments on behalf of a borrower to a third party beneficiary for a stated period of time according to certain defined conditions. Financial or Standby LCs support a wide range of general corporate purposes, including backstopping commercial paper (short-term obligations issued to institutional investors). Trade or Commercial LC typically support inventory or accounts receivables.
Letter of Credit Fee	Fee charged for a letter of credit to be issued.
Leverage Ratio	As defined by the loan agreement, usually Debt divided by Capitalization or equity.
Leveraged	Loan to a borrowers rated BB+/Ba1 or lower with pricing thresholds based on market trends which change over time. See League Table Guidelines for pricing criteria.
M&A	A loan which backs a Merger or Acquisition.
Major Industry Group	The company's broad industry classification.
Mandated Date	The date loan has been awarded by the borrower to the lead lenders involved.
Market Based Pricing	Loan where pricing which is tied to the borrowers CDS level or a CDX index.
Market of Syndication	The Region (Market) where the loan was syndicated.
Market Segment	The specific market segment(s) the tranche identifies with.
Marketable Securities (%)	A percentage of marketable securities that may be borrowed against as defined in the loan document.
Material Restriction	Restrictions on payment of dividends as stipulated within credit agreement.
Maximum Loan to Value Ratio	As defined by the loan agreement, usually Debt divided by Asset Value.
Moody's Bank Loan at Close	The Bank Loan Rating assigned at the time of the loan's closing by Moody's.
Moody's Bank Loan Current	The Current Bank Loan Rating assigned by Moody's
Multi-Currency	Option which allows borrower to borrow in several specified currencies.
Multi-Currency Tranche	Facility which allows borrower the option to borrow in several specified currencies at different rates.
NAIC	The company's North American Industry Classification number and description.
Net Worth	As defined by the loan agreement, usually Assets minus Liabilities.
New Money	Reflects all new dollar volume generated through deals that are either syndicated for the very first time to the loan market or incrementally raised on previously syndicated deals.
Non Investment Grade	A loan which is not considered Investment Grade.
Number of Arrangers	The number of lender(s) who acted as an Arranger on the loan.
Number of Lenders	The number of lender(s) who particpated in the loan.
Oil & Gas Reserves	Percentage of these resources in the borrower's possession as defined in the loan document.
Organisation Type	The type of organization the company is.
Original Issue Discount (OID)	The discount from par value at the time that a loan or other debt instrument is issued. It is the difference between the stated redemption price at maturity and the issue price.
Parent	The parent company of the borrower.
Parent Operating Country	The country where the Parent Lender(s) on the loan operate.
Parent Region	The region where the Parent Lender(s) on the loan operate.
Performance Pricing (Y/N)	Indication of whether or not the loan has performance based pricing associated with it.
Performance Pricing Grid	Type of performance based grid used to set margin pricing on a loan.
Performance Pricing Remark	Comments associated with the performance pricing on the loan.
Performance Pricing Type	Type of performance based criteria used to set margin pricing on a loan.
Phase	The current phase of the loan package.
PIK	Loan which has its interest payments made as additional loans rather than in cash.
PIK Toggle	A loan which allows the borrower the option in each interest period to either pay interest in cash or exercise the PIK option.
Primary Purpose	The primary purpose of the tranche.
Project Finance	Indication that the loan package is a Project Finance transaction and what specific project it backs.
Property, Plant & Equipment (%)	Percentage of real estate, buildings, machinery and tools used by the borrower in the everyday course of business as defined in the loan document.
Purpose Remark	Comments associated with the loan package's purpose.
Region	The recognized operating region of the company.
Repayment comment	Comments associated with the repayment of the Loan.
Required Lenders	The percent of lenders that must approve non-material amendments and waivers.
Role/Title	The Role or Title of the lender(s) involved in the loan.
S&P Bank Loan at Close	The Bank Loan Rating assigned at the time of the loan's closing by Standard & Poor's.
S&P Bank Loan Current	The Current Bank Loan Rating assigned by Standard & Poor's.
Sales Size	The latest FYE revenue figures for the company.
Second Lien	Facility secured with claims on collateral that are behind those of first lien loans. Reflects loan facilities that are second lien in nature and thus second priority for payment in the case of default.
Secondary Purpose	The secondary purpose of the tranche.
Secured	Indication of whether or not the tranche is secured.
Senior Debt to EBITDA	Most recent Senior Debt to EBITDA level.
Seniority Type	The level of seniority associated with the tranche.
Share	The commitment of the lender in the loan.
SIC Code	The company's primary Standard Industry Classification number and description.
Sponsor	The company who is the sponsor of the loan.
Sponsored	Loans backing a financial sponsored transaction. Financial Sponsors are defined as private equity investors who maintain an equity position of at least 20% in a borrower.
Spread/Margin	Specific interest rate being charged over the base rate.
Sr. Debt to Cash Flow	As defined by the loan agreement, usually Outstanding Senior Debt divided by Net Income plus Depreciation and Other Non-Cash Charges.
State/Province	The State or Province where the company primarily operates in.
Swingline	Option for an overnight borrowing line typically provided by the agent unilaterally.
Tangible Net Worth	As defined by the loan agreement, usually total assets less intangible assets minus total liabilities.
Target	The company who is the target acquisition through the use of the loan.
Tenor/Maturity	The tenor in months between tranche active date and tranche maturity date.
Term Changes	Changes in the tenor or life of the loan.
Tertiary Purpose	The tertiary purpose of the tranche.
Third Lien	Facility secured with claims on collateral that are behind those of both first and second lien loans. Reflects loan facilities that are third lien in nature and thus third priority for payment in the case of default.
Ticker	The public ticker of the company.
Tiered Upfront Fee	A fee to be paid upfront for certain commitment levels. Usually in table format, it will display minimum commitments for each level with the corresponding upfront fees, flat fees (in USD dollars), bank role titles and All-in spreads drawn.
Tiered Upfront Fee (Y/N)	Indication of whether or not the loan has tiered upfront fees associated with it.
Top Tier Arranger	The lender(s) who acted as a Top Tier Arranger on the loan.
Total Debt to EBITDA	Most recent Total Debt to EBITDA level.
Tranche Active	Indication of whether or not the tranche is active.
Tranche Active Date	The active or closing date of the tranche.
Tranche Amount	The amount of the tranche.
Tranche Currency	The currency the tranche was issued in.
Tranche CUSIP	The CUSIP assigned to the tranche.
Tranche Maturity Date	The maturity date of the tranche.
Tranche O/A	Indication of whether the tranche is original to the deal or an amendment. If an amendment, the amendment number is indicated in this column.
Tranche Refinancing	Indication of whether or not the loan package refinanced a prior tranche.
Tranche Remark	Comments associated with the tranche.
Tranche Type	The specific tranche type.
Unitranche	Unitranche financing is a hybrid loan structure that combines senior debt and subordinated debt into one amount bearing a blended interest rate that would usually fall between the rate for the two types of debt.
Upfront Fee	A fee paid by the borrower to lenders upon closing of a loan. If the fee is assessed for a multi-part package, then the fee is expressed on each part of the deal as a fee on the percentage of total borrowings allowed. The exception is on revolving credit / term loan.
US Large Middle Market	Loan available to corporate borrowers with sales and deal size greater $100 million, but less than or equal to $500 million.
US Middle Market	Loan available to corporate borrowers with sales and deal size less than or equal to $500 million.
US Traditional Middle Market	Loan available to corporate borrowers with sales and deal size less than or equal to $100 million.
Utilization Fee	An incremental fee charged on the drawn portion of a credit facility. The usage fee applies in cases where borrower drawings under the credit exceed a predetermined percentage of the entire credit.
Zip	The recognized zip code of the company.