Arc of the Covenant

Fox Legal Training
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Arc of the Covenant is the podcast from Fox Legal Training, hosted by founder Sabrina Fox. Each episode is a conversation with someone from across the leveraged finance market, lawyers, investors, analysts, allocators, and journalists, about how documentation is driving outcomes in the credit markets. Where covenants held and where they gave way, how liability management actually works, and what it means for anyone reading, negotiating, or pricing these documents. Recorded live as part of the FLT Knowledge Series. Courses and more at foxlegaltraining.com.

Episodes

  1. Aug 19

    Episode 1: A private cram down

    Sabrina Fox welcomes back Shan Qureshi, legal analyst at Octus, to review the year LMEs stopped being tactical outliers and became a core restructuring tool. They work through the deals that made it real: Selecta as a turning point, innocuous steps combining into what Qureshi calls a private cram down; Hunkemoller and governing law as the first major test of creditor-on-creditor violence in Europe; and the Altice drop-downs, executed the second time with no call and no warning. Plus the co-op agreement's journey from shield to sword to antitrust defendant, Part 26A fatigue, forum shopping, and predictions for the year ahead.

    Episode 1: A private cram down

  2. Aug 19

    Episode 2: Legal fluency as a career edge

    Sabrina Fox talks with Labib Chowdhury, Director in Rabobank's leveraged finance team and Fox Legal Training's first ever individual client. The conversation follows his career from the beginning: how he chose credit, the moment on his first live deal when he realized the blocker was not the numbers but the covenants, and how legal fluency changed what he could contribute, including reading a sponsor's add-back request for what it really was. Practical throughout, with the habits that worked: the covenant notebook, translating clauses into the model numbers they control, and sitting in on legal calls to learn the language.

    Episode 2: Legal fluency as a career edge

  3. Aug 19

    Episode 3: GPs know what you want to hear

    Sabrina Fox talks with Susan Baker, senior portfolio manager at the Arizona Public Safety Personnel Retirement System, about what covenant discipline looks like from the LP seat. Susan runs a 20 percent target allocation to private credit and explains the machinery behind it: a metrics template collecting 40-plus data points on every deal, case studies drawn from the underperformers rather than the pitch deck, and deal-team attribution to see who actually did what. Because GPs know what you want to hear; the data shows what they did. Plus how she keeps board trust, the super cynical hat, and why she blocks Fridays for learning.

    Episode 3: GPs know what you want to hear
  • 3 Episodes

About

Arc of the Covenant is the podcast from Fox Legal Training, hosted by founder Sabrina Fox. Each episode is a conversation with someone from across the leveraged finance market, lawyers, investors, analysts, allocators, and journalists, about how documentation is driving outcomes in the credit markets. Where covenants held and where they gave way, how liability management actually works, and what it means for anyone reading, negotiating, or pricing these documents. Recorded live as part of the FLT Knowledge Series. Courses and more at foxlegaltraining.com.

Information

  • Creator
    Fox Legal Training
  • Episodes
    3
  • Rating
    Clean
  • Copyright
    © Fox Legal Training
  • Show Website
    Arc of the Covenant