Summer Analyst Restructuring

3 rooms - 20 minutes each
Room 1 - Pure Behavioral room - mostly just random questions that they wanted to ask (Very Chill)

1. TMAY
2. Why RX
3. What was it like growing up in X
4. Can you tell me more about X and what you were responsible for there [Top
Experience]
5. Where do you see yourself in 5 years
6. Why did you decide to move from X to X
7. What is something not on your resume that you would like to share
8. What do you like to spend your free time on? [Took 20-30% of entire interview]
Room 2 - Technical Room Rapid Fire
In general you should get all these right from my experience + experience from other people that had this interview. The techs below are really easy and you won’t run into anything simpler
1. Difference between chapter 7 and 11
2. Characteristics of a distressed company
3. Options available to debtors if they go bankrupt
4. Bond Pricing Question [Standard, use the current yield + price appreciation formula]
5. Different reasons a bond would be priced differently
6. Would you rather hold debt in a holding company or an operating company
7. What is structural subordination
8. Company is running out of liquidity, what can you do [I named 9-10 before they stopped
me]
9. Buying back debt at a discount? 3 Financial statements
10. Waterfall Question - dont remember exact numbers but it was a simple
under-collateralization example
11. Some warrant-equity question that I don’t remember [I partially messed up on this but
got it at the end]
Room 3 - Bit more technicals and behaviorals
1. TMAY
2. WHY EVR (Pressed Really hard here)
3. Why would equity value be above 0 if secured and unsecured are trading below par
4. What tests are applied in a chapter 11 to pass a POR
5. Issues X amount of debt with 5% cash interest rate and 5% PIK
a. Walk through three statements at Y0 and Y1
6. What things do you think you would include on a rx pitch as an analyst
7. What other processes are you involved in and how does EVR compare to them
a. Obv say all your processes it helps to show that other firms are interested in you too

Rest of time we talked about interests and restaurants in NYC [20-30% of time]