He expects the covenant-lite market to slow, but still believes there has been a big relaxation of lending standards.
他期望“克莱贷款”市场会慢下来，但是始终认为这种贷款标准还是有很大的宽松空间。
And Europe is now seeing the introduction of “covenant-lite” loans, which offer little protection to lenders if the borrower's financial position deteriorates.
欧洲开始出现”克莱”贷款(注1)，在这样的安排下，其贷款人在借款人财务状况恶化时没有什么保障。
The main obstacle is that the First Data deal "has all the bells and whistles of the bubble era", says another banker: it is, for instance, "covenant-lite" and offers lenders little protection.
主要问题是另一位银行家所说的第一资讯收购案“具有泡沫年代的特征”：比如，“低门槛贷款合约”几乎给贷款方提供不了保护。
The main obstacle is that the First Data deal “has all the bells and whistles of the bubble era”, says another banker: it is, for instance, “covenant-lite” and offers lenders little protection.
主要问题是另一位银行家所说的第一资讯收购案“具有泡沫年代的特征”：比如，“低门槛贷款合约”几乎给贷款方提供不了保护。
The debt that is available is no longer "covenant lite", and is likely to be forthcoming only for buyers who are willing to pay a large chunk of the purchase price with their own equity.
可行的负债已经不再是“低门槛”，可以随便进入的，并且很有可能会变成为愿意用自己的股票支付大额收购价的买家而设的工具。
The debt that is available is no longer "covenant lite", and is likely to be forthcoming only for buyers who are willing to pay a large chunk of the purchase price with their own equity.
可行的负债已经不再是“低门槛”，可以随便进入的，并且很有可能会变成为愿意用自己的股票支付大额收购价的买家而设的工具。
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