This week we filmed a new course for FLT clients – How did they do it, and could it happen to me + a case study on Ardagh – designed to prepare them for 2025 and beyond.
With incumbent flexibility at its height and new complexity and flexibility continually appearing, our new course comes at a critical juncture. Borrowers – and other lenders – are seeking to utilize record levels of priming, dropdown, and double-dip capacity as a remedy to tackle over-levered capital structures.
The best offence is a good defence, and the best-prepared lenders understand the art of the possible. That’s what we focus on in the new course, using the case studies below:
- J.Crew & The Dropdown
- Serta & The Uptier
- PetSmart & The Disappearing Guarantee
- Neiman Marcus & The Spinoff
- At Home & The Double Dip
We were joined by market veteran Glenn Zahn who provided a deep-dive analysis on Ardagh’s recent LME, followed by lively discussions on their potential next steps.
This was one of our quarterly in-person events, which we film and upload onto our online, on-demand legal education platform. The platform now hosts six courses, from our flagship Leveraged Finance Covenant Training course to the most recent pair of introductory courses on intercreditor agreements and distressed investing.
We expect to publish the new course over the coming weeks!
We are also excited to announce our next in-person event, which will take place on January 8th at The Ned. During the event, our founder, Sabrina Fox, will present for the first time ever “The Framework” for covenant analysis.
The Framework breaks down legal analysis for any leveraged finance contract into discrete constituent parts, facilitating a powerful conceptual understanding of legal documentation. Armed with The Framework, our clients will be empowered to analyze any deal, whether its a high yield bond, leveraged loan or private credit agreement.
The Framework will become the most powerful tool for market participants to draw upon to truly understand how leveraged finance covenants work, and as such will become a key tool to achieve favorable terms in a negotiation.
To register for this event, send an email to info@foxlegaltraining.com.