Feb 25, 2014

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,

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4 Comments

fryguy22

12y

It's after. It is "excess" cash flow, so required amort gets deducted before the calculation of ECF

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SECfinance

12y

ECF Sweep is calculated based on FCF After Amortization.

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MM IB -> Corporate Development -> Strategic Finance

FBI_34

12y

Always after. Amortization is a mandatory repayment and thus comes first.

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wdz0001

12y

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