What does covenant mean? covenantNoun A promise in an agreement to do certain things or to refrain from doing other things. Synonym(s): Related Item(s):What are tranches?What is market flex?How is mezzanine debt subordinated? 2020-10-24T05:49:39+02:00 Share the knowledge! Choose your platform: FacebookXRedditLinkedInTumblrPinterestVkEmail