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Gain the Competitive Edge with Covenant Review

Covenant Review delivers comprehensive legal and market analysis, expert insights, and real-time data, all designed to streamline workflows and enhance decision-making, ensuring superior client outcomes.

Empowering Legal Professionals to Succeed

We empower legal professionals to succeed by delivering expert insights with access to information within the high-yield and leveraged finance markets.

  • Receive instant, customized alerts on clients and prospects.

  • Gain insights into market transactions, including competitor deals.

  • Get early notifications on special situations and detailed financials for pitches.

  • Quickly grasp complex high-yield and distressed situations with proprietary intelligence and data.

  • Stay updated on new issuance, what’s making news, and covenant terms clearing the market.

  • Prepare for client meetings and stay informed about market developments.

  • Access Covenant Review reports and research library for new deals and capital structures.

  • Use research tools to find suitable precedents and market-clearing covenant terms.

  • Understand legal issues with covenant primers, special reports, and TrendLines analysis.

  • Ensure teams and practice groups are informed about marketplace developments.

  • Access covenant primers, webinars, training materials, and a comprehensive library of Offering Memoranda.

  • Utilize Covenant Review’s data-driven TrendLines analysis and research tools to enhance team interaction and decision-making.

Unparalleled Access to Content and Capabilities

In-Depth Analysis

Comprehensive analysis of new issue leveraged loans and high yield, plus special reports.

Training Materials

Extensive library of training materials and webinars for all levels of lawyers.

Data Sets

Access to covenant datasets and data-driven TrendLines reports for easy tracking of market trends.

Workflow Tools

Research tools on our platform to streamline daily processes and inform decisions.

Market Intelligence

Comprehensive insights on the lifecycle of credits, from issuance to refinancing or restructuring, with a focus on distressed situations.

Real-Time Publications

Continuous reporting on primary market issuance and trending names in the secondary market.

Unmatched Coverage

Coverage of 98% of leveraged loans (ELLI index) and 99% (LLI index), including European and North American HY bonds.

Precedent Search Tool

Tools to search for specific provisions and underlying drafting in High Yield Bonds and Loans.

Best-in-Class Lawyers

Our team has an extensive leveraged finance background, with an average of over 17 years of experience. These seasoned lawyers provide perspective on creditors rights, with event-driven research that helps you understand complex covenant language, assess likely risks and the potential impact on creditors.

Meet a Few of Our Dedicated Legal Professionals

Global Head of Research, Covenant Review

Anthony P. Canale, J.D.

Anthony P. Canale, J.D. is Covenant Review’s Global Head of Research. He graduated from Columbia University cum laude in 1994 and from the University of Texas at Austin Law School with honors in 1997. He began his career as corporate finance attorney with Latham & Watkins and represented both issuers and underwriters in high yield debt offerings. Following that, he joined Vinson & Elkins where he represented private equity firms in negotiating LBOs and related financing. Subsequently, he became an in-house attorney, serving as Senior Counsel for broadband provider Wayport, Inc. and following that, he served as General Counsel for the publicly traded company Debt Resolve. He joined Covenant Review in 2007. He served as Head of High Yield Research from 2012 through 2018, and was named Global Head of Research in May of 2017. As Global Head of Research, he oversees all of Covenant Review’s various research product offerings. In addition, he has written research on hundreds of high yield issuers, including extensive research on some of the most widely-followed names such as Windstream, Neiman Marcus, iHeartCommunications, Caesars, Bausch Health, and Claire’s Stores. He has been quoted and/or published in publications such as Barron's, Bloomberg, the New York Post, and The Wall Street Journal. He regularly lectures on covenant issues to investment professionals and other attorneys.
European Head of Research, Covenant Review

Jane Gray

Jane is a dual-qualified solicitor with more than 15 years of experience in the European leveraged finance market, having worked on leveraged finance documentation through multiple credit cycles, including on the first "cov-lite” loan in Europe. Jane practised law at Dentons and Lovells, and as an in-house lawyer at Credit Mutuel - CIC specialising in European syndicated loans and direct lending. Before joining Covenant Review in 2015 to build its European research products, Jane was Head of Legal at DebtXplained, building both their loan and high yield bond platforms. Jane now serves as the Head of European Research, covering the high yield bond and leveraged loan markets in Europe, and providing covenant analysis to the investor community on the largest top-tier sponsor deals coming to market. She represents Covenant Review on the Board of the High Yield Division of the Association for Financial Markets in Europe and as a member of the Loan Market Association.
Head of Legal Innovation, Covenant Review

Ian K. Walker, J.D

Ian K. Walker graduated from The University of the West Indies with first class honors in 1984 and Howard University School of Law magna cum laude in 1994. He has practiced law at Davis Polk & Wardwell LLP and as a solo practitioner. He has represented both borrowers and lenders in leveraged finance transactions as well as a variety of financing transactions, such as structured finance and aircraft financings. He has extensive experience in the area of knowledge management and training, including consultancy with leading legal content providers. Ian began working with Covenant Review in 2015.
Head of U.S. Loans Research, Covenant Review

Jessica Reiss, J.D.

Jessica Reiss graduated from Brandeis University magna cum laude in 1999 and from University of Pennsylvania Law School in 2002. Jessica practiced law at Shearman & Sterling LLP, Akin Gump Strauss Hauer & Feld LLP, and Goodwin Procter LLP. She has extensive experience representing borrowers, lenders, arrangers, agent banks, and sponsors on complex commercial syndicated revolving and term loans; senior, junior and mezzanine financings; leveraged buyouts; and offerings of debt securities. Prior to joining Covenant Review, Jessica was the head of loan covenant research for Moody’s. Jessica joined Covenant Review in 2015.

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