REPE Waterfall Breakdown - Leveraged Breakdowns

This topic has 2 replies, 1 voice, and was last updated 4 years ago by roryhcompton.

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July 15, 2020 at 12:41 am #23670
roryhcompton
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In the breakdown of the waterfall under pari passu, why are we deducting the LCF, but adding in the coupon? Shouldn’t we be deducting the coupon for that tier out of the LCF and carrying the remainder to the next promote?
July 15, 2020 at 12:51 am #23671
roryhcompton
Participant
Also it appears the CF at pari passu under gross LCF to distribute is the same as that in tier III.
July 15, 2020 at 3:21 am #23672
roryhcompton
Participant
Disregard this post. I am still lost, but I believe I am seeing the logic.
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