Out-of-Court Restructuring / Investing Modeling Test (Installment II)

As the first guide of Installment II, we provide a full-scale restructuring / capital structure recap modeling test typically provided in restructuring banking interviews. The structure of the guide is clear - 1) navigating why the pre-transaction securities are trading / yielding at certain levels, 2) identifying proper out-of-court transactions to align company + lender incentives, 3) advice on how to prepare for the debrief interviews once the modeling has completed, 4) debrief interview questions. 

This guide includes a 30-page write up on the transaction (with debrief modeling / investing interview questions) + the backup Excel model for all calculations made. 

While typically this guide is more popular for sell-side interviews as a part of a modeling test round, we cover investing strategies for each tranche in the capital structure for those interested in learning how to invest in distressed businesses undergoing out-of-court negotiations.