Question: ECF Sweep
Does the ECF sweep typically come before or after amortization? I imagine it would be spelled out in the credit agreement but I wasnt sure if there was a norm to follow for modeling purposes.
Thanks,
Does the ECF sweep typically come before or after amortization? I imagine it would be spelled out in the credit agreement but I wasnt sure if there was a norm to follow for modeling purposes.
Thanks,
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It's after. It is "excess" cash flow, so required amort gets deducted before the calculation of ECF
ECF Sweep is calculated based on FCF After Amortization.
Always after. Amortization is a mandatory repayment and thus comes first.
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