How to Analyze Any Finance Contract

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Course Introduction

Leveraged finance contracts are notoriously complex — multiple instruments, overlapping covenants, and dense legal language make them challenging to interpret. This course equips credit professionals with a clear, structured roadmap to analyze any leveraged finance agreement confidently and efficiently.

Instead of diving straight into the details, you’ll learn to “zoom out” — understanding the capital structure, the parties’ intentions, and how multiple contracts interact. By the end of the course, you’ll approach any leveraged finance document with clarity, precision, and confidence.

Course Outline

The FLT Framework for Contract Analysis:

1. The Big Picture – Understand the deal structure and parties’ objectives before diving into detail.
2. “The Box” – Identify which entities sit inside or outside the restricted group and why it matters.
3. Covenants – Master the core protective provisions: debt, liens, restricted payments, and asset sales.
4. Baskets – Learn the hierarchy and operation of fixed, grower, builder, starter, and OCB baskets.
5. Credit Support – Analyze collateral, guarantees, and intercreditor terms across US and EU markets.
6. Instrument Comparison – Spot key differences between high-yield bonds, syndicated loans, and private credit.
7. Calculation Mechanics – Demystify ratio tests, capacity, reclassification, and critical definitions.
8. Case Studies – Apply your learning with real-world leveraged finance examples.

Who This Course Is For

This course is designed for professionals who work with or around leveraged finance documentation, including:

• Credit analysts just starting out in their careers
• Investment professionals in leveraged finance or private credit
• Junior lawyers and documentation teams in financial institutions
• Restructuring and risk professionals
• Anyone seeking to interpret or negotiate finance contracts with confidence

Learning Objectives & Skills You’ll Gain

By the end of this course, participants will have developed a repeatable, step-by-step framework for approaching any leveraged finance contract with confidence. You’ll understand how different debt instruments interact within a single capital structure and learn to identify risks and negotiation points early in the process. The course builds clarity around covenants, baskets, and credit support mechanics, empowering you to interpret and analyze complex documentation even if you’re not a lawyer.

More than just technical understanding, you’ll gain a mindset: the ability to see the bigger picture, connect the moving parts, and make informed decisions that protect value and uncover opportunity. This systematic way of thinking will enhance your analytical precision, improve communication across teams, and strengthen your effectiveness as a credit professional in today’s evolving market.

Why It Matters

As leveraged finance documentation grows more complex and liability management techniques evolve, systematic contract analysis is no longer optional — it’s essential.
Professionals who can see the bigger picture, connect the moving parts, and identify risks early will lead the market.

This course gives you the framework to do exactly that.