Taking Stock with Trinity Chavez
PennantPark Partner Michael Applebaum on Middle Market Loans and More
3m 27s
PennantPark Partner, Michael Appelbaum, discusses with Trinity Chavez the importance of structural protections for middle market loans. Michael describes the financial covenants, monthly reporting requirements, and additional lender rights that enable PennantPark to protect investor capital from undue risk. Michael also explains the importance of prudent credit agreements with strict limitations on EBITDA add-backs to ensure our covenants are based on real earnings, not future ambitions.
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