A covenant that forces a borrower to use a share of leftover free cash to <em>prepay</em> debt — automatic deleveraging.
Bonds that sit at the <em>top</em> of the capital structure — secured by collateral and first in line to be repaid.
The timetable that maps every loan payment into <em>principal</em> and interest until the balance reaches zero.
A bond from a below-investment-grade issuer — higher coupon to compensate for higher <em>default</em> risk.
A debt structure where the full principal comes due in <em>one</em> payment at the end, with no amortization along the way.
A loan with no <em>maintenance</em> financial covenant — the borrower is tested only when it takes a specific action.