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High-Yield Bonds, Subordinated Debt, and Loans Course Overview

In this High-Yield Bonds, Subordinated Debt, and Loans course, we will explore the high-yield category of fixed-income capital markets. We will introduce each asset type and examine their markets. Then, we will look at each asset’s issuers and issuance procedures. We will examine the features and properties of these assets. Finally, we will look at the buyers of these assets, the key risks of buying them, and how you can trade them. This course provides you with the important information you need to consider before delving into high-yield investments. This course uses real market data and examples of high-yield bonds, subordinated debt, and loan screens from leading market data platforms. We also explore the different aspects of high-yield investments and how they apply to real investments that you may encounter as a financial analyst.
This online course can be taken on demand from anywhere in the world.

High-yield bonds, Subordinated Debt, and Loans Learning Objectives

Upon completing this course, you will be able to:
  • Understand the capital stack, high-yield bonds, subordinated debt, and loans as investments
  • Comprehend the market dynamics of each of these asset types
  • Identify the issuers of these debt instruments and why
  • Analyze the buyers and key risks of each asset
  • Learn how to identify and analyze high-yield investments on leading market data platforms

Who should take this course?

This High-Yield Bonds, Subordinated Debt, and Loans course is perfect for anyone who wants to build up their understanding of capital markets and specialize in fixed-income instruments. This course is designed to equip anyone who desires to begin a career in fixed-income, sales, trading, or other areas of finance with advanced knowledge of high-yield fixed-income instruments.

High-Yield Bonds, Subordinated Debt, and Loans

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Level 3

Approx 4.5h to complete

100% online and self-paced

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What you'll learn

Qualified Assessment

This Course is Part of the Following Programs

Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning.

Capital Markets & Securities Analyst (CMSA®) Certification
High-Yield Bonds, Subordinated Debt, and Loans is part of the Capital Markets & Securities Analyst (CMSA®) certification, which includes 42 courses.
  • Skills Learned Trading strategies used in the finance and capital markets
  • Career Prep Work in capital markets, whether on the buy-side or the sell-side

Learner Reviews

Overall Experience
I couldn't stop listening to the programmes. It was worth it. I encourage anyone wanting an understanding, knowing the fundamentals of the markets to take the CMSA course. You also get certification for life.

Tavaziva Lawrence Dzvova

High Yield bonds, sub debts etc.
Great Content and good presentation by instructor.

venugopal rajamanuri

Very great course and practical. Kudos to the presenter and CFI team. I highly recommend the course.


A very educative experience
I wish to send my gratitude to the CFI team for the great work done on the courses.

Shimiye Lawrence

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Frequently asked questions

What are the requirements to take the courses?
All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, Microsoft Suite (2016 or newer), and a stable internet connection. Click here to view the Technical Requirements
Can I download the Excel files and financial modeling templates for the course?
Absolutely! All the files and templates needed in a course are available for download. Just look for a module that shows Downloadable Files within the course dashboard. See here for a visual guide on how to do this.
How long do I have to complete the courses?
You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines. Click here to compare our available enrollment options.
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Yes, CFI is accredited by the Better Business Bureau® (BBB) to maintain training standards, the CPA Institutions in Canada, and the National Association of State Boards of Accountancy (NASBA) in the USA. Most of our courses qualify for verified CPE credits for CPA charter holders. Please refer to this page to view all available CPE credits.
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Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 80% passing grade. For more information on how to earn a course certificate, click HERE.
How are the exams conducted?
Students are required to complete an online assessment (Multiple choice questions, Fill-in-the-Blanks, and Excel Questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 80% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need. Students are also required to complete the FMVA® final exam to earn their certification. How to Take a Qualified Assessment
Can I email the instructor if I have questions?
While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries. The Full Immersion bundles include a premium email support function that allows you to communicate directly with in-house experts regarding course content. This is one of the key features that sets the Full Immersion bundle apart and makes it a worthwhile upgrade over the more affordable self-study bundle. You can compare more features in our bundles here.
Will these courses help me advance my career?
Based on hundreds of reviews from thousands of students we know how CFI courses have helped so many people advance their finance careers. Our courses are designed to be extremely practical and simulate the experience of being trained as a professional financial analyst…the ultimate way to advance your career. For real-world examples and to help delve even deeper into the course concepts, please look into our free career resources library.
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