Glossary · Debt metrics
LTV (Loan-to-Value)
Loan amount divided by asset value. The headline leverage measure for stabilised debt.
Related
- LTC (Loan-to-Cost)
Loan amount divided by total project cost. Used in development finance where there is no stabilised value yet.
- DSCR (Debt Service Coverage Ratio)
Net Operating Income divided by annual debt service. Can the asset pay its loan from its own cash flow? Lenders typically want 1.25–1.40x or higher.
- Senior debt
The most secured layer of the capital stack — first claim on cash flow and collateral, lowest cost, typically 50–65% of cost.
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