Characteristics Syndicated term loan instruments
Facility types Term loans (both amortizing and institutional), acquisition loans (after they are drawn down) and bridge loans
Security Secured
Seniority Senior
Currency U.S. dollar denominated
Minimum Term One year at inception
Minimum Spread L+125, initially
Minimum Size $50M initially funded loans
Valuation source Average bid from the LSTA/TRLPC mark-to-market service
When loans are retired

Facilities are retired when they are repaid or when they are no longer priced by LSTA/TRLPC; defaulted loans will remain in the Index through restructuring.