Intro - Irreverent Indenture

An Irreverent Introduction

and presentation outline

Now, let's get into debt, shall we?

Debt fuels the engines of legions of corporate borrowers in the United States.

The continuing ultra-low interest rate environment in the United States continues to fuel record borrowings by companies across the spectrum. It has certainly helped that the Fed recently announced that it would move "cautiously" in putting through any further interest rate increases.

Leverage is rocketing in many silos of corporate America, and many ascendant companies are choosing to grow through leverage.

And this brings us to the subject of restrictive debt covenants that are part n'parcel of a huge swathe of corporate debt.

Restrictive debt covenants are shrouded in eye-glazing and obscure mumbo-jumbo, and labyrinthine structure and drafting. (Think “wheels within wheels” reflected in an infinity funhouse mirror). The insidious intricacies of debt covenants can create very expensive and business-choking traps for the unwary! When negotiating a critically important loan or credit arrangement, many entrepreneurs, senior executives and financial officers are stymied and confounded by the impenetrable language and structure of these documents.

is the world's only fully multimedia and animated presentation on the business underpinnings of "incurrence-based" restrictive debt covenants and key debt structuring concepts. This unique presentation brings this vitally important subject roaring to life by combining eye-popping animation, vivid illustrations and a pulsating music soundtrack with Avi Ganatra’s dynamic oratory and performance. The Irreverent Indenture will also highlight the accelerating convergence between the covenant provisions of high-yield bonds and leveraged loans as markets and investors for these asset classes overlap and converge.

Debt covenants are scripted to allay the deep anxieties that beat strongly (and sometimes “cov-litely”) in the hearts of lenders who lend gobs of cash to corporate borrowers who sometimes have “less than stellar credit.” The shackles imposed by the covenants make every red-blooded (and hopefully black-inked) borrower company put up a fight for its freedom.

This conflict sets the stage for High Drama!

To bring this high drama to life, Avi has fused animation, illustration, music and sound effects with his spoken presentation to create an engaging world of credit-challenged borrowers and fretful lenders. We will take an up-close and “tongue-in-cheek” look at key credit concepts and restrictive covenants to understand WHY these provisions exist in loan agreements…. WHAT do they accomplish…. and WHERE are the “trapdoors” that the unwary can fall through!

Go ahead… crack open your nearest indenture or loan agreement… and you will witness this drama seething right under the surface.

II Part One

Part One

II Part Two

Part two

630 FIRST AVENUE │ SUITE 19-M │ NEW YORK, NY 10016 │ (212) 779-0160 │ ganatralaw.com

Ganatra Law PLLC is the sole owner and sole copyright / service mark holder of the names "Ganatra Law PLLC" and "The Ganatra Bridge," the firm logo (including the custom image of the bridge included therein) and the firm motto "US Law for Global Business." All Rights Reserved.