Over the past decade the covenant light debt [1] has regained popularity [2] [3]. [1]: https://en.wikipedia.org/wiki/Cov-lite https://en.wikipedia.org/wiki/Cov

Over the past decade the covenant light debt [1] has regained popularity [2] [3]. [1]: https://en.wikipedia.org/wiki/Cov-lite https://en.wikipedia.org/wiki/Cov-lite [2]: https://www.businessinsider.com/leveraged-loan-record-87-percent-covenant-lite-2019-2 https://www.businessinsider.com/leveraged-loan-record-87-per... [3]: https://www.bloomberg.com/opinion/articles/2020-02-18/the-cov-lite-fight-in-leveraged-loans-is-lost https://www.bloomberg.com/opinion/articles/2020-02-18/the-co... It’d be very interesting to learn what covenants are attached to DigitalOcean’s new credit facility. Their press release [4] lists the lenders but does not discuss the terms, which will probably stay confidential until they file to go public. [4]: https://www.digitalocean.com/press/releases/digitalocean-secures-130-million-credit-facility/ https://www.digitalocean.com/press/releases/digitalocean-sec...