FLT Launches How to Analyze Any Leveraged Finance Contract

Leveraged finance contracts are complex. Multiple instruments are often used in the same deal, and the interplay between agreements can be difficult to untangle. For many credit professionals, it can be a daunting task. Where do you begin? How can you tell what really matters?

That’s why FLT has launched its new course: How to Analyze any Leveraged Finance Contract.

This course is designed to equip credit professionals with the tools to tackle complex agreements with confidence. The aim of the game is simple: a practical step-by-step framework that will change the way you approach leveraged finance contracts forever.

Rule number one? Don't dive right into analysis.

Zoom out first.

Why This Course Matters

LevFin markets use numerous debt instruments – high yield bonds, broadly syndicated loans and private credit facilities. Sometimes several appear in the same deal. Covenants overlap, provisions interact, and the contracts are never fully standalone.

Understanding the interaction is powerful. An organized approach will enable you to analyze any leveraged finance contract, be a better negotiator, identify risk sooner and protect value.

With increased defaults and documentation that is increasingly borrower-friendly, the ability to analyze contracts systematically has never been more essential.

How We Achieve This

The course introduces you to a roadmap that can be applied to any leveraged finance agreement:

• ‍The Big Picture – start by zooming out to understand the parties’ intentions and the capital structure. This is Point A – the starting point for all contract analysis.
• ‍“The Box” – who’s inside, who’s outside, and why it matters.‍
• Covenants – debt, liens, restricted payments, asset sales.‍
• Baskets – fixed, grower, high watermark, builder, starter and OCB / operation of law.‍
• Credit Support – collateral, guarantees and intercreditor agreements across US and EU deals.‍
• Instrument Comparison – how provisions across HYB, BSL and PD can differ in practice.‍
• Calculation mechanics – capacity, reclassification, ratio tests and where definitions really matter.‍
• Case Studies – apply the framework through real-world case studies.

Key Takeaways

At the end of the course, participants will gain key fundamentals:

• LevFin market finance contracts work in similar ways.
• Understanding the basic framework is the first step.
• Analyzing the goals of the parties is critical.
• Approaching the contract with confidence is the key to your success.

A Course Designed for Credit Professionals

Complex documents don’t need to remain mysterious. With the right framework, you can analyze any leveraged finance contract clearly, systematically, and with confidence.

Led by Sabrina Fox, a LevFin expert with over two decades of experience advising both lenders and borrowers, the course incorporates this market knowledge and a unique training model into the current reality of professionals.

FLT’s courses are designed to accommodate busy professionals in their demanding schedules:

• Hybrid training combines on-demand video tutorials, live teach-ins, webinars, and interactive Q&A sessions with experts.
• Bite-sized learning that explains essential contract details without unnecessary information, focusing on what matters most.
• A glossary of legalese with contextual explanations to make contracts less intimidating for non-lawyers.

The ability to analyze leveraged finance contracts systematically is no longer a “nice to have” skill – it’s becoming mission critical in today’s market. As documentation grows more complex and liability management becomes the new normal, credit professionals who can see the bigger picture, connect the moving parts and identify risk early will be the ones who set themselves apart. That's what this new course is designed to deliver: it’s more than just knowledge, but also a disciplined way of thinking. By equipping professionals with a repeatable framework, we aim to raise the standard of covenant analysis across the market.

Because at the end of the day, the contracts may be complicated – but your approach to them doesn’t have to be.

To find out more about enrolling, contact sabrina@foxlegaltraining.com.

‍