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    High Yield Bond Covenants: A Practical Approach

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    What is High Yield Bond Covenants: A Practical Approach?

      This one-day course will review and analyze the key covenants used in high-yield bond documentation.

      Whether representing investor or issuer interests, attendees will become familiar with the purpose and structure of high-yield bond covenants through the use of tools and real-life examples. We will focus on recognizing the strengths and pitfalls of covenants and how creative drafting of covenants and definitions can enhance or weaken a covenant’s intent.

    What skills will you gain by taking this course?

    • Understand the purpose of each of the key high-yield bond covenants.
    • Analyze and summarize key covenants with an increased ability to focus on material issues.
    • Recognize, describe, and assess restricted payments and debt incurrence covenants by analyzing their component parts.
    • Determine the level of subordination risk inherent in a structure.
    • Analyze covenants individually and as a covenant package to assess the overall quality of investor protection.

    Who should attend this course?

    • High-yield fund managers
    • Bond analysts
    • Leveraged finance lenders
    • Investment banking advisors
    • Other finance professionals with an interest in bond documentation

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