Entity Covenants

Covenants in Fairways Debt are agreements specifying actions and thresholds that the borrower must perform and respect. Covenants protect lenders when borrowers do not meet their requirements.

 

  1. Log in to your Fairways Debt account and select a customer account, if relevant.
  2. Navigate to Applications Applications.png > Debt & Derivatives > Entities.
  3. Click the relevant entity name.

In this example, we log in to the Main City account.

Entities_EN.png

  1. Click Covenants.

Overview_2_EN.png

The entity covenants display.

Covenants_EN.png

Covenants_2_EN.png

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Description

A

Filter the covenants by status.

  • A covenant is in "Compliant" status when the actual value meets the expected threshold value.
  • A covenant is in "Warning" status when the actual value meets the threshold value defined to raise a warning.
  • A covenant is in "Not Compliant" status when the actual value does not meet the expected threshold value.
  • A covenant is in "No Threshold" status when there is no data for the covenant or the threshold's start date has not been reached.

B

Search for a covenant by:

  • Transaction name
  • Metric name

C

Sort covenants. Click an item:

  1. Once, to sort by ascending alphabetical or numerical order. An arrow directing to the top ↑ displays beside the sorted item.
  2. Twice, to sort by descending alphabetical or numerical order. An arrow directing to the bottom ↓ displays beside the sorted item.
  3. Three times, to cancel sorting. No arrow displays.

 

To sort using multiple criteria:

  1. Click the first criteria.
  2. Push and hold this key on your keyboard:
    • ctrl for Windows
    • cmd for Mac
  3. Click the second criteria while holding the key from the previous step till you have configured all the criteria.

In this example, the data is sorted by the next publication date in ascending order, then by the covenant status by alphabetical order.

Sort_EN.png

Note: The counter starts with 2 because the 1st criterion is automatically defined as the transaction group.

D

Add, edit, delete, and export covenants.

Note: The History icon is available on the covenant profile to view all the changes performed on a dedicated panel.

E

Click a covenant name to open the covenant profile.

If present, hover over the Information icon beside the covenant name to display the associated verbiage.

If present, hover over a formula icon f(x) to display the metric formula.

From the covenant profile, you can:

  • edit the covenant or generate a document for this one by clicking on the Actions icon. For further information, see also Generate a Covenant Document.
  • view all the changes performed by clicking on the History icon
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