What is the concept of an attach/detach point in project finance? Particularly related to a unitranche financing.
Hi all, I need a primer on unitranche financing, including about the idea of an attach/detach point and how that works. I've googled it and the top results relate to CDOs, and I frankly just need it spelled out to me a little bit more clearly on what a unitranche is in project finance (vs. maybe a 1L/2L structure) and how the concept of attach/detach points apply. Many thanks.
Hey gdj2000, what a lonely thread. I'm here since nobody responded ...so maybe one of these discussions will help:
More suggestions...
Fingers crossed that one of those helps you.
Attach- detach refer to where the LTV slice is in the capital structure. Unitranche has a blended rate and may have first out-last out with lenders governed by AAL whereas typical 1L/2L has an intercreditor agreement to deal with subordination.
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