Private Debt
Free CFA Level III: Private Markets lesson in Private Debt. 21 min read, ~3,153 words.
Debt financing scales across the life cycle: venture debt at startup, leveraged loans at buyout, HY bonds at refinancing, convertibles at growth or late-stage equity transition. Leveraged loans are senior secured, floating-rate (SOFR + 300-700bp), covenant-lite in syndicated form; high-yield bonds are fixed, unsecured, incurrence-only covenants; convertibles trade coupon for...
Read the full lesson, free →
Worked examples, audio narration, and practice. No signup to read.
What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Browse all free CFA L3 Private Markets lessons or jump into free CFA L3 Private Markets practice questions.