A machine-read covenant register

EXACTCOVbuyer room · privateManage buyer room

A machine-read covenant register: every economic and legal term extracted from credit documentation (LMA/LSTA facilities, indentures, offering memoranda, intercreditors, ISDA schedules and CSAs, GMRAs, fund-finance/NAV facilities, amendments and waivers) and cited to the specific page and clause it came from — plus three byproducts far more valuable than the register itself. (1) A clause-to-structured-field corpus with page-level provenance, i.e. contract-understanding ground truth with citations rather than span guesses. (2) A market-terms benchmark series built from every closed deal in a client's book: debt and lien basket sizes, restricted-payment capacity, MFN levels, change-of-control definitions and margins over time — the covenant equivalent of a league table, which today exists only as analyst opinion. (3) A borrower-reported financial dataset: compliance certificates delivered each quarter give actual covenant ratios (leverage, fixed-charge cover, headroom) for private borrowers that publish nothing anywhere. (4) An audit trail of missteps, breaches and waivers with the preceding headroom trend — distress data with lead time.