High Yield and Leveraged Finance Credit Analysis
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What is 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.
What skills will you gain by taking this course?
- Discuss the key features and drivers of the leveraged finance market
- Apply fundamental principles of analysis to a leveraged credit
- Analyze the cash flows and liquidity of a leveraged credit
- Project cash flow and liquidity
- Understand the various different debt instruments available in the leveraged markets and the pros and cons of each
- Structure a leveraged buyout
- Analyze a company’s covenant package and identify key strengths and weaknesses
Who should attend this course?
- Credit analysts
- Ratings advisors
- Investment and commercial bankers
- Fixed income professionals (both buy and sell sides)
- Portfolio/asset/fund managers
- Equity analysts
- M&A professionals
- Banking supervisors
- Credit risk professionals
- Basel II project managers