Baird RX/Debt Advisory?

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