Covenants when acting for the borrower

This guidance note provides general observations on covenants in loan transactions. It explains information covenants, including financial reporting, other notification requirements, no default certificates, KYC requirements and financial covenants, and general undertakings such as compliance with laws and negative pledges.

This guidance note also explains equity cures and the treatment of subordinated debt.

See Covenants when acting for the borrower.