This two-day course reviews the basics of high-yield debt while providing an overview of current issues for this area of securities , Increasing complexity and globalization in capital-forming activities have directed renewed attention to the area of high-yield securities. This course reviews the basics of high-yield debt while providing an overview of relevant current issues. , Topics include credit analysis of risky debt, today's market for high-yield, seniority and subordination, use of "junk" bonds in leveraged buyouts, high-risk debt in troubled or leveraged companies, the effect of secondary markets and vulture funds, and debt structures in multi-layered or international corporate entities.