A "ten bagger" is a term used by investors to describe an investment that is exited at ten times the initial investment. The number can be changed to describe a different exit for the investment. For example, a four bagger describes an exit at four times the initial investment. The term was first introduced by Peter Lynch in his book One...
Under unitranche financing, one lender provides the entire credit with a single set of documents. This can provide a number of benefits to the borrower as follows:
Simplifies the documentation and reduces the paperwork for borrowers because there is just one credit agreement and a single set of collateral documents.
Accelerates the acquisition process because buyers don't need to find and negotiate with two separate lenders for the senior and mezzanine debt. As well, since the loan documentation is much simpler, unitranche loans can be pulled together more quickly.
Saves the borrower money because only one agreement will need to be drafted and reviewed by a single legal team for the lender.
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