High Yield / Leveraged Loans

It is rated BB+ or lower and are based on LMA documentation for Leveraged Loans. High Yield and Leveraged Loans can have Senior Unsecured, Secured Mezannine or Super Senior Structure. It is not rated or rated ‘BBB-‘ or higher but has

(1) a spread of LIBOR +125 or higher and
(2) is secured by a first or second lien

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