New to the sub-investment grade debt markets?

Join 9fin's legal team in a five part series where they break down the basics of the leveraged finance market. Our team of experts will help you demystify LevFin jargon from builder baskets to J.Crew blockers.

Webinar schedule:

Part 1 — Junk debt — Good thing I have all these protections, right?

9fin’s senior legal consultants Chris Osborne and Antony Serban will explain why certain debt has covenants. They will give you practical tips on how to approach and analyse a covenant package. Become equipped to understand the rationale for certain terms and how to spot them in a particular bond or loan.

Thursday 9 October at 3pm BST / 10am ET

Part 2 — Prime prevention — The debt and the liens covenant

Our legal team takes a look at the debt and liens covenant. They consider what it attempts to prevent and how there are sometimes loopholes around it.

Thursday 23 October at 3pm BST / 10am ET

Part 3 — Only spend money on these 45 things — The restricted payments covenant

Our legal team talks about the restricted payments covenant. They help break down how to think about a restricted group, why debt holders want to keep value in the group but also conversely why the company or shareholders might need to make investments or pay dividends outside the restricted group.

Thursday 6 November at 3pm GMT / 10am ET

Part 4 — Where did the crown jewels go? — The asset sale covenant

Our legal team walks through the asset sale covenants and other less discussed covenants. They breakdown what constitutes an asset sale and what options a company has on how to use those proceeds. They also give a brief overview of some of the other less negotiated covenants but which are still critical for understanding how a whole covenant package fits together.

Thursday 20 November at 3pm GMT / 10am ET

Part 5 — When do I get my money back? — Maturity, redemptions and offers

Our legal team breaks down some of the various provisions that impact when and how certain debt may be repaid. Here they help explain: is it an offer or a redemption? Is it at a premium or a discount? The aim here is to help demystify when debt can be repaid and what price, which is key to understanding its current value.

Thursday 4 December at 3pm GMT / 10am ET

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