Bond covenant analysis with the ability to compare covenants

Xtract Research has unmatched coverage of the global high yield bond markets with commentary and ratings on the individual covenant level for every bond report.

Reports are interactive with links back to the original documents for easy reference.

Our library of US 144A preliminary OM’s is updated on a daily basis.

Our unique covenant comparison feature allows our clients to quickly analyze differences in bond covenants across issuers and industries in seconds.


  • Quickly identify loopholes, off-market terms and other material terms
  • Quick turnaround times pre-pricing
  • Cover entire new issuance market
  • Compare covenants within capital structure
  • Compare covenants across issuers


  • Reports summarizing key terms: dividend protection, change of control, make whole, merger treatment and cash settlement
  • Cover special situations and other market moving events
  • Extensive library of documents with bookmarks for easy navigation
  • CLICK HERE for a recent Sample Convertible Bond Report from North America


  • Extensive library of documents
  • Fallen angels with Investment Grade Bond covenants
  • Reports on Investment Grade Bonds Asian Issuers