A tailored course, built for your situation
Deeper Command of Leveraged Finance Frameworks
Mastery-level precision in structuring, pricing, and approving complex leveraged transactions
$199 one-time
24-hour access provisioning
30-day money-back guarantee
Hand-built implementation playbook
12 modules. 12 chapters per module. 144 chapters total.
12 modules, each with 12 chapters (144 chapters total), text-based, plus downloadable templates and a hand-built implementation playbook delivered alongside course access.
The situation this course is for
Who this is for
Senior leveraged finance leader in a global bank, responsible for structuring and approving complex credit structures.
Who this is not for
Analysts new to leveraged finance, or professionals outside corporate lending, structured credit, or debt capital markets.
What you walk away with
- Final call authority on leveraged structure design without escalation
- Cold recall of covenant hierarchy and inter-tranche dynamics
- Repeatable framework for pricing risk layers across jurisdictions
- Confidence in stress-testing capital structures with regulator-grade logic
- Sources and precedents on hand when underwriting teams push back
The 12 modules (with all 144 chapters)
Module 1. Core Anatomy of Leveraged Structures
Break down senior, mezzanine, and equity waterfall layers in real deals. See how cash flow priorities shape covenant placement and default triggers.
12 chapters in this module
- Tranche hierarchy in practice
- Cash flow waterfalls
- Default triggers
- Repayment waterfalls
- Equity sweep mechanics
- Amortization profiles
- Call protection terms
- PIK toggle behavior
- Covenant lite exceptions
- Dividend pushers
- Refinancing rights
- Change of control terms
Module 2. Covenant Design Patterns
Map covenant types to risk thresholds. See how maintenance vs. incurrence covenants affect sponsor behavior and lender control.
12 chapters in this module
- Maintenance vs. incurrence
- Leverage ratio design
- Interest coverage tests
- Capex baskets
- Restricted payments
- Debt incurrence tests
- Asset sale proceeds
- Equity issuance rights
- Reporting thresholds
- Covenant-lite tradeoffs
- Equity cure mechanics
- Waiver protocols
Module 3. Pricing Across Risk Layers
Model spread adjustments for tranche risk, jurisdiction, and macro exposure. Build repeatable logic for margin selection.
12 chapters in this module
- Spread over risk tier
- Jurisdictional risk add-ons
- Currency mismatch cost
- Tenor-based premium
- Liquidity discount factors
- Covenant strength weight
- Sponsor track record
- PIK premium rules
- Breakage fees
- Market flex triggers
- Syndication timing
- Print level benchmarks
Module 4. Stress Testing Capital Structures
Simulate EBITDA shocks and interest rate rises. See when debt service fails and which tranches absorb first.
12 chapters in this module
- EBITDA decline scenarios
- Interest rate shocks
- Refi risk windows
- Cash sweep triggers
- Debt service coverage
- Amortization shortfalls
- PIK activation rules
- Equity contribution tests
- Covenant breach timing
- Default probability
- Recovery waterfall
- Lender loss rankings
Module 5. Cross-Border Structure Nuances
Compare tax leakage, enforcement speed, and subordination rules across major markets.
12 chapters in this module
- Withholding tax traps
- Local currency risk
- Enforcement timelines
- Subordination laws
- Guarantor validity
- Intercreditor terms
- Security perfection
- Ranking clarity
- Stay laws
- Creditor committees
- Insolvency triggers
- Recovery jurisdiction
Module 6. Sponsor Behavior Patterns
Anticipate sponsor moves based on ownership incentives, fund life cycle, and precedent deals.
12 chapters in this module
- Fund life cycle timing
- Dividend recapture
- Add-on acquisition rights
- IPO exit paths
- Refi windows
- M&A waivers
- Equity cures
- Capex restrictions
- Management incentives
- Leverage tolerance
- Exit multiple assumptions
- Restructure prep signals
Module 7. Legal Document Blueprinting
Build a mental model of key credit agreement sections and how they interact in defaults.
12 chapters in this module
- Definitions section
- Representations
- Affirmative covenants
- Negative covenants
- Events of default
- Remedies
- Yield protection
- Taxes
- Assignments
- Confidentiality
- Amendments
- Governing law
Module 8. Intercreditor Dynamics
See how agent banks, trustees, and co-lenders interact during stress events.
12 chapters in this module
- Agent bank authority
- Trustee obligations
- Voting thresholds
- Majority lender rights
- Protective classes
- Amendment voting
- Waiver coordination
- Enforcement coordination
- Information rights
- Cost sharing
- Consent thresholds
- Breakage allocation
Module 9. Syndication Strategy
Align tranche design with investor appetite. Price for syndication success.
12 chapters in this module
- Investor appetite
- Tranche sizing
- Lead bank role
- Market flex use
- Print level
- Syndication timing
- Roadshow messaging
- Investor fit
- Hold levels
- Secondary trading
- Reputation signaling
- Pipeline credit
Module 10. Regulatory Alignment
Map structure choices to Basel, LCR, and internal capital thresholds.
12 chapters in this module
- Basel III capital
- Leverage ratio impact
- LCR treatment
- Internal ratings
- CVA charges
- Capital floor rules
- Risk weighting
- COLL exposure
- Large exposure rules
- Stress test inputs
- Disclosure needs
- Internal audit triggers
Module 11. Approval Workflow Precision
Reduce iteration by building full logic into first draft. Cut review cycles.
12 chapters in this module
- Checklist completeness
- Risk layer justification
- Precedent integration
- Deal economics
- Covenant rationale
- Tranche interaction
- Stress case coverage
- Regulatory fit
- Internal capital use
- Peer comparison
- Sponsor fit
- Exit case logic
Module 12. Framework Fluency in Practice
Combine all layers into a repeatable mental model. Respond faster and with higher confidence.
12 chapters in this module
- Rapid structure scan
- Risk layer mapping
- Covenant prioritization
- Pricing logic
- Stress test setup
- Jurisdiction fit
- Sponsor alignment
- Legal coherency
- Syndication fit
- Regulatory fit
- Internal approval
- Post-close monitoring
How this maps to your situation
- When structuring a new acquisition financing
- During inter-senior lender negotiation
- Before presenting to internal credit committee
- When revising covenants mid-tenor
Before vs. after
Before
Relies on precedent deals and team input for structuring decisions.
After
Commands full framework logic and makes final call decisions independently.
What's included with your purchase
- 12 modules with 12 chapters each (144 chapters)
- Downloadable templates and worked examples for every module
- Hand-built implementation playbook delivered alongside course access
- 30-day money-back guarantee
Delivery and format
- Course and learning environment access provisioned within 24 hours of purchase
- Hand-built implementation playbook delivered alongside course access
Format: Text-based modules and chapters in the Art of Service learning environment, plus downloadable templates and worked examples for every chapter, plus the hand-built implementation playbook delivered alongside course access.
Time investment: Approximately 3 hours per module, designed for real-world application during live deal cycles.
How this compares to the alternatives
Public courses cover leveraged finance basics. This is for senior practitioners who need precision, not review. No group calls, no theory, just deployable fluency.
Frequently asked
Is this for junior bankers?
No. This is for senior practitioners leading deal architecture and approval.
How is the course structured?
12 modules, each containing 12 chapters (144 chapters total).
Are there videos or live sessions?
No. The course is text-based with templates and examples for immediate use.
$199 one-time. Approximately 3 hours per module, designed for real-world application during live deal cycles..
Within 24 hours your account in the learning environment is provisioned and the tailored implementation playbook is delivered alongside it.
30-day money-back guarantee·
144 chapters·
Hand-built playbook included·
Account access within 24 hours