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A type of loan where the entire principal of the loan is repaid at its maturity. Also known as an interest only loan.

Debt where the security of the loan is specifically tied to an underlying asset. The range of assets that may be used as security can be wide, including property, inventory and trade receivables.

A broad term to describe the proliferation of channels, companies and instruments that have emerged outside the realm of the traditional financial system. It is most commonly associated with companies operating in the peer-to-peer space, such as peer-to-peer lending and crowdfunding. Often called “shadow banking” or “non-bank funding”.

In the wake of House of Fraser’s fall into administration this month, its suppliers have been left with a sizable hole to fill following the restructuring of the department store’s debt. This is one example of a recent glut of household-name retailers failing due to changing market conditions, while the collapse of Carillion earlier this ...

The Altimapa team is keeping busy this summer even while away on vacation. Our diverse group has a wide range of interests and has translated into how we quench our curiosities, from management to history and to poetry. So with no further ado, here is the first ever Altimapa summer reading list!

The ratio between debt and EBITDA. Leverage can either be "gross" (gross debt to EBITDA) or "net" (net debt to EBITDA). Often lenders will remove extraordinary items from EBITDA when calculating leverage

In the context of a loan, this informal expression typically refers to the total costs of the loan, including the interest expense, fees and any other payments due to the lender. It would normally also account for the time-value of money (payments made in the short term are worth more than those made at a ...

In May 2018, Altimapa successfully secured a 5-year interest-only growth capital loan for Progress to Excellence and its owner a2e Industries. This capital was used to fund a pipeline of acquisitions and to allow the management team to increase its stake in the business.

This association was created to assist the development of the secondary loan market in Europe. It intends to develop best practice and standard documentation. LMA Documentation is used as a starting point in many loan discussions.

A measure of the value of a loan to the collateral against which it is secured. A €30million loan secured by a €50 million property would be described as a 60% LTV loan.