Been looking at some hand-me-down LBO templates and solutions to cases that some friends have sent me and I noticed that most if not all ignore a maximum commitment on a revolver. I feel like its fairly easy enough to model that restriction in the Drawdown / (Repayment) section of a debt schedule but was wondering if I should even bother doing so?
To my understanding the numbers should work well enough in a case that the firm is not expected to ever need to draw down on the revolver over its commitment. Also, if my cash flow for debt service is a negative amount greater than my revolver commitment, wouldnt I have negative cash flowing through the rest of the debt schedule? How would one go about solving such a scenario if they were to stay true to the revolver cap.