HF in office case study
Hi All, I have an upcoming 5 hour in-office case study for a fund. Curious if anyone has sample prompts of similar studies and or has a sense of what the ask is likely to be.
You should expect to receive a packet of info including annual and quarterly reports, 8-Ks, investor presentations, and maybe some sell-side / third-party research. I've had in-office case studies with access to Bloomberg and others without, so could be either. The prompt is usually "Here is XYZ Company, take a look to see if there's anything to do". This format is pretty easy to re-create and practice on your own time. These sorts of case studies are less about finding the absolute right answer and more about how you triage a situation to justify more work or not.
If you're given covenants/docs, what kind of language should you focus on? I'm not in credit so not really sure how to approach
For a brief in-office case study I'd focus on basic stuff like financial covenants, debt capacity at various levels, guarantee language etc and then dig in for value leakage depending on the situation. If asset sales are a part of the thesis take a look at ability to direct proceeds away from what mandatory paydown language says, for example. One of my cases was for an issuer with a large amount of bonds, and I noticed that one of them was issued under a different indenture than the others with a different covenant package which suggested there could be an interesting covenant trade in there.
Sed id molestiae occaecati id. Repellendus et saepe accusamus sunt. Repudiandae et velit modi iusto dolor sed. Est esse saepe quo ab quisquam et quis. Dolor provident esse repellendus aut eveniet.
Tempora eos minus ut alias sed molestiae harum. In omnis ex officiis veniam explicabo est libero. Non non quam rerum quo repellendus officia quos impedit.
Natus non aut non aut quo soluta incidunt. Facere aspernatur ea ut corporis provident repudiandae cum. Exercitationem ab doloremque vel molestias rerum ut omnis. Tempore maiores impedit vero.
Quia autem nemo saepe omnis nam. Odio consequatur placeat cum magni. In dolorem totam omnis consectetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...