Senior debt typically has a floating interest rate. Types of senior debt include revolver and term loan. A floating rate means the interest rate is is based off of a benchmark rate (such as 1-month SOFR) plus a spread of usually 400-500 bps (4-5%). Junior debt typically has a fixed interest rate. Th...

An NOL (net operating loss) happens if a company loses money one year. In most jurisdictions, the company can spread this loss around to reduce their taxable income in future years and therefore reduce their taxes. There are usually restrictions on how many years you can go back when calculating you...