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1·The debt that is available is no longer covenant lite, and is likely to be forthcoming only for buyers who are willing to pay a large chunk of the purchase price with their own equity.

可行的负债已经不再是“低门槛”，可以随便进入的，并且很有可能会变成为愿意用自己的股票支付大额收购价的买家而设的工具。

2·Institutional investors are keen again on bank loan participations, covenant-light corporate debt, exotic asset-backed securities, and all manner of commercial real estate.

机构投资者再度热衷于银行参与贷款、盟约亮点公司债券、具有国外背景的资产担保证券(asset - backed security)以及各种形式的商业房地产。