Loan Transaction Structuring Masterclass Training Course

Participants can size debt and design repayment profiles using cash flow, liquidity and downside analysis.

• Normalized EBITDA bridge separating recurring earnings, adjustments and sponsor add-backs
• 13-week liquidity forecast linking operating cash flow, debt service and headroom
• Debt sizing through DSCR, LLCR, net debt EBITDA and cash sweep
• Base, downside and severe-case assumptions tied to identifiable risk drivers
• Sources-and-uses model reconciling purchase price, fees, refinancing and minimum cash
• Repayment profiles tested against seasonality, working capital and refinancing risk

Participants can allocate structural risk through enforceable security, guarantees and payment controls.

• Risk register connecting business risks to contractual protections and monitoring triggers
• Structural subordination assessed across holding companies, operating entities and guarantors
• Security package design using share pledges, asset charges and account control
• Guarantee coverage tested against corporate benefit, limitations and enforceability
• Waterfall mechanics allocating collections among working capital, debt service and reserves
• Jurisdictional counsel instructions focused on perfection, priority and insolvency risks

Participants can calibrate covenants and default protections to preserve practical lender control.

• Covenant headroom model with forecast ratios, definitions and cure assumptions
• Maintenance covenants calibrated using debt-to-EBITDA, interest cover and liquidity tests
• Incurrence baskets drafted for permitted debt, liens, acquisitions and distributions
• Equity cure provisions tested for timing, amount and ratio treatment
• Information undertakings specifying reporting frequency, certificates and budget variance explanations
• Events of default linked to materiality thresholds, grace periods and remedies

Participants can set facility pricing that reflects credit risk, capital use and transaction economics.

• All-in yield built from margin, reference rate, fees and amortisation
• Risk-adjusted return assessed through RAROC, capital usage and expected loss
• Basel III capital effects considered for guarantees, collateral and tenor
• Interest-rate risk allocated through fixed-rate options, caps, swaps and break costs
• Commitment, utilisation and prepayment fees aligned with lender economics
• Margin ratchets connected to credit metrics, reporting and amendment mechanics

Participants can review facility documentation for alignment with the approved transaction structure.

• LMA facility agreement anatomy: definitions, representations, undertakings and boilerplate
• Conditions precedent checklist covering constitutional documents, approvals and legal opinions
• Representation scope tested against diligence findings, knowledge qualifiers and repetition dates
• Undertaking drafting distinguishes affirmative, negative and financial covenant obligations
• Material adverse change clauses calibrated for purpose, threshold and consequences
• Amendment, waiver and voting provisions mapped to lender consent thresholds

Participants can prepare an underwriting and syndication plan that supports orderly execution and administration.

• Underwriting strategy distinguishes best-efforts, committed underwriting and club execution
• Bank meeting materials articulate credit thesis, structure and allocation rationale
• Syndication timetable coordinates launch, lender questions, allocations and closing
• Flex provisions allocate pricing, tenor and covenant adjustment authority
• Primary allocations balanced against relationship priorities, hold levels and concentration limits
• Agency operating model defines notices, calculations, payments and lender communications

Participants can adapt core structuring principles to acquisition, project, real-estate and asset-based facilities.

• Acquisition financing combines purchase agreement risks, debt sizing and certainty requirements
• Project finance debt sculpting matches contracted cash flows and reserve accounts
• Real-estate facilities test loan-to-value, debt yield and valuation mechanics
• Asset-based lending borrows against eligible receivables, inventory and borrowing-base availability
• Trade and commodity structures address title, controls, transit and counterparty exposure
• Refinancing structures manage maturity walls, takeout risk and consent requirements

Participants can assess amendment and restructuring options before value deterioration accelerates.

• Early-warning indicators drawn from covenant forecasts, liquidity trends and payment behaviour
• Standstill arrangements establish information rights, lender coordination and reservation clauses
• Amend-and-extend proposals compare maturity relief, pricing and additional security
• Restructuring term sheets allocate new money, priorities, releases and milestones
• Intercreditor enforcement provisions govern acceleration, voting, turnover and standstill periods
• Recovery analysis models enterprise value, security realisations and distribution waterfalls

Participants can document a structured credit rationale and establish post-closing monitoring actions.

• Credit paper presents risk rationale, mitigants, exceptions and approval requests
• Approval conditions converted into closing deliverables, covenant terms and monitoring actions
• Portfolio monitoring plan sets reporting cadence, trigger thresholds and escalation routes
• IFRS 9 staging implications considered when structure changes credit risk
• Post-closing review records deviations, lessons and documentation improvement actions
• Personal application plan prioritises one live transaction and stakeholder commitments