First Out Second Out

Combination of a Unitranche provided by a Debt Fund with a Senior Loan provided by a bank to decrease the blended margin compared to a pure Unitranche. Via an intercreditor agreement both parties typically agree that the senior lender ranks in front of the Unitranche provider and therefore is “first out” if the loan is distressed.

Share on email
Share on linkedin
Share on twitter
Share on whatsapp

The glossary is provided to you solely for your information. Comments or statements made by Leverest, expressed or implied, do not constitute a guarantee of any kind. No reader may rely upon Leverest with respect to the accuracy or completeness of the glossary information.

About Leverest

Leverest is a tech-enabled debt advisory platform connecting investors, lenders and advisors thereby facilitating the debt financing process and digitizing investment banking services. As a marketplace for leveraged finance, Leverest blends market-leading debt expertise with digital tools along the debt process achieving superior financing outcomes and a best-in-class debt process with increased transparency for all parties involved.