Tuesday 16th May at 4:00pm – Online Webinar
High Yield & Leveraged Loan Covenant Fundamentals: Building Knowledge & Understanding the Basics Series
Tuesday, May 16th
High Yield and Leveraged Loan Covenants
Join Covenant Review lawyers for their three-part High Yield & Leveraged Loan Covenant Fundamentals: Building Knowledge & Understanding the Basics Series.
Leverage and Subordination: The Debt and Liens Covenants
This session focuses on the Debt and Liens covenants, which are key to understanding leverage, dilution, and subordination risks, providing participants with the tools for day-one assessment of more leverage capacity.
How to determine capacity for additional debt and liens, and to what extent senior secured creditors’ claims can be subordinated or diluted.
Understanding the interaction of ratios carveouts and permitted “baskets”.
Calculation mechanics including EBITDA addbacks and pro forma wording.
Understanding where debt can be placed in the capital structure alongside the collateral and guarantee package, and how that impacts recovery risk.
If you have any questions, reach out to the events team at email@example.com