Sabrina Fox - Founder of Fox Legal Training
Hi, I am Sabrina Fox, founder of Fox Legal Training and your covenant training partner as you navigate our online covenant training course.
I have been analysing covenants for nearly two decades, first as legal counsel to prospective high yield issuers, and then as a covenant analyst. Over the past ten years, I have seen investor protections erode in a death by a thousand cuts – two words deleted here, an add-back (or ten!) to EBITDA inserted there – until the fairly boilerplate frame work of covenants designed to maintain a borrower’s creditworthiness evolved into a bespoke contract rife with borrower flexibility.
As a result, I am here to teach you a new language – legalese.
Covenants are complicated, but they’re not rocket science. With a solid foundation and framework for analysis, together we will build your knowledge of these contractual provisions to empower you to analyse covenants like a pro.
The course is designed for any professional in the leveraged finance market, whether you analyse credit, trade instruments, arrange financings, are a borrower yourself or an advisor to any of the foregoing.
In some places, we will make a reference to negotiations or analysis undertaken by lenders in particular, taking an issue from that specific point of view. Even if you are not a lender, this perspective will no doubt be useful to you in whatever role you currently play in any given deal.
There are lots of ways to get in touch with me and I love connecting with new people in the industry and sharing my knowledge and experience.
All the best,
Sabrina
