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Mezzanine Debt

A type of debt (financing) that creates a bridge (mezzanine) between a company's senior debt and equity. One component (senior...

Step-Down

In the context of subprime deals, it is a provision that entails the conversion of deal structure from sequential pay…

Mezzanine Bracket

The members of an underwriting syndicate/ group (a list of underwriters) which plays a moderately important role (i.e., constituting the...

Structural Subordination

A subordination of mezzanine capital that is defined by the borrower group's corporate structure. For example, this type of subordination...

Warrantless Mezzanine Capital

A type of mezzanine capital in which the mezzanine borrower is not required to issue warrants, options, or conversion rights to the mezzanine lender (mezzanine capital provider). These instruments usually...