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This two-day course provides in-depth understanding of the mechanics of key high-yield bond covenants.

Course Agenda

    This workshop examines high-yield covenants using two recent transactions rated by our sister company, Moody's Investors Service: one from the US and one from Europe.

Gain insights into high-yield covenants so you can:

  • Analyze restricted payments and limitations on debt incurrence in conjunction with Moody’s Investors Service covenant quality assessments.
  • Recognize the difference between standard and non-standard carve-outs.
  • Assess subordination by liens and structure, and relate to indebtedness/headroom in debt incurrence tests.
  • Describe the main differences between US and European covenant quality and trends.

Who Attends?

  • High-yield fund managers
  • Bond analysts
  • Leveraged finance lenders
  • Investment banking advisors
  • Other finance professionals
2018 Course Dates and Locations

Find a Course Near You

No course available at this time.