Access to critical documents with summary of key clauses and covenants

Xtract Research is the leading provider of research products and tools for the US fixed income markets. We offer users access to a large library of indentures, supplemental indentures and prospectuses with enhanced navigational functionality. Our summary of key clauses and covenants provides a detailed overview of the key covenants with leading edge technology to link the summaries directly to the source documents. Clients may access the documents through an interface via our website or through our customized Proprietary System. The goal of Xtract is to provide value added and time saving research services for several niche sectors of the investment universe where strategy specific needs are not being addressed suitably by the large research organizations.

Current US Service Offerings

• Convertible Securities Research Products
• High Yield - Covenant Xtract
• Bank Debt Review
• Investment Grade
• Private Placements / 144a (QIB only)

Summary of Key Clauses and Covenants

In the convertible securities service we provide laymen summaries of some critical areas of the indenture, such as change of control terms, dividend adjustment treatment and treatment of holders in merger situations. For our bank loan and high yield services we provide a detailed overview of the entire covenant package with the ability for users to compare covenants across bonds and a comparison of loan terms with our proprietary base loan document.

A Customized Proprietary System for Specific Needs

Our Proprietary System allows users to build an internal library of documents with the ability to upload, bookmark and highlight documents as well as the ability to add custom notes. This system can be purchased alone or with the existing database of documents included. All of this can be done for less than the annual cost of many research or database services.