High Yield and Leveraged Finance Credit Analysis

The leveraged finance market is a deep and active sector encompassing many regions and industry sectors. Particularly in an era of ultra-low interest rates, investors are increasingly interested in obtaining returns from lower quality credit. This seminar reviews the basics of high-yield debt, including leveraged loans and other funding instruments, while providing an overview of relevant current issues, in particular the coronavirus. Among the topics covered are credit analysis of risky debt, today’s market for high-yield, seniority and subordination, private equity sponsors and LBOs and covenant analysis. The course has a practical focus, using real examples and timely cases.