Baird RX/Debt Advisory?

Hi everyone - current student who is interviewing with this team in a few days. I know they do everything from RX, Private Credit, LevFin, etc. (or so I heard) so studying up on what might be asked has been a little tough.

Has anyone heard of/interviewed with this team or has insight? Thank you

20 Comments
 

Based on the most helpful WSO content, preparing for an interview with a team like Baird's RX/Debt Advisory would likely involve a mix of technical and situational questions. Here's what you should focus on:

  1. Credit Analysis and Debt Structures:

    • Be prepared to discuss credit analysis, including how to assess a company's debt capacity.
    • Understand the characteristics and structure of debt instruments (e.g., senior, junior, mezzanine, equity).
    • Know the differences between investment-grade bonds and high-yield bonds.
  2. Leveraged Finance and LBOs:

    • Brush up on leveraged finance concepts, including the basics of bonds, yield curves, pricing, and interest rate drivers.
    • Be ready to model an LBO, but with a focus on credit stats rather than IRR/MOIC.
  3. Credit Agreements and Documentation:

    • Familiarize yourself with credit agreements and their implications for lenders.
    • Be able to creatively structure new debt financing and understand covenant breaches or restructuring scenarios.
  4. Market Knowledge:

    • Stay updated on loan market trends and products (e.g., Revolvers, Term Loan A/B, Unitranche).
    • Have an opinion on fixed income and equity markets.
  5. Case Studies and Deal Experience:

    • Be prepared to discuss any peculiar deals or case studies, especially those involving distressed situations, covenant breaches, or bankruptcy.
  6. Behavioral and Fit Questions:

    • As with any interview, expect questions about your motivation, teamwork, and problem-solving skills.

Good luck with your interview!

Sources: leveraged finance interview - what to prep, Private Credit Resources and Prep, Private Credit Interview Advice, Navigating Distressed HF space and recruitment

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Ah got it, would you happen to know anything about the focus/difficulty of the first round? (E.g. is it mainly RX techs, split across PC LevFin etc., any traditional techs?)

 

Don’t remember the Qs, just basic RX and regular technicals as far as I remember

 

Makes sense - thanks so much. Any chance you know anything about the focus/difficulty of the first round? (E.g. is it mainly RX techs, split across PC LevFin etc., any traditional techs?)

 

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