About the Course
Practical Law is working in association with MacIntyre Hudson Advisory Services to deliver a one day course on Financial Covenants and Accounting Practices on Thursday 11 July 2013.
Throughout the course, our own Practical Law Facility Agreement will be used as a specimen document alongside pro forma UK GAAP and IFRS financial statements to answer common questions, and give practical drafting tips, about how accounts impact on financial covenants:
- Overview and introduction: The purpose of common financial covenants in loan agreements, and their relevance to different types of financing (e.g. leveraged finance or property finance). A reminder of which financial statement each covenant relates to.
- Common 'Financial Statement Requirements': which financial statements are to be delivered, what should they contain, and which Accounting Principles should be applied? Usage of 'frozen GAAP' provisions or alternative arrangements, and an update on accounts terminology relevant to these clauses.
- Specimen financial covenants: A review of the ratios in the specimen document: Interest cover, debt service cover, capital expenditure, minimum net worth, gearing and working capital.
- Key components and their definition: Negotiated terms not defined by accounting standards, such as PBIT/PBITDA, Total or Net Interest, Cash flow, Capital Expenditure, will be explained by clarifying the relevant accounting issues and drafting points.
You will benefit by:
- Being more confident interpreting instructions from bankers and clients
- Knowing when to seek clarification from your clients
- Having confidence adjusting and setting non-standard covenant components, as a result of more fully understanding the accounts jargon and relevant accounting practices
- Being up-to-date on the latest accounting developments affecting financial covenants
Numbers are limited to ensure quality.
To book your place, please complete the following registration form by 13 June 2013 to claim our Early Bird Offer.
Thursday 11 July 2013
- 09h30: Registration
- 10h00: Morning session
- 13h00: Lunch
- 13h40: Afternoon session
- 17h00: Course finishes
6 CPD Hours
Book before 13 June 2013 to claim our Early Bird Offer!
- Subscribers: £325
- Non-Subscribers: £375
- Subscribers: £400
- Non-subscribers: £450
Maclntyre Hudson Advisory Services LLP
New Bridge Street House
30 - 34 New Bridge Street
London EC4V 6BJ
Who should attend:
Banking and Finance Solicitors
For more information on this course please click here.
For more information on MacIntyre Hudson Advisory Services please click here.
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