Do BB's do restructuring?
I will be interning in an Energy coverage group at a BB this summer. I know EB's typically handle restructuring transactions but I was wondering why nobody discusses BB's restructuring work. Am I missing something or can't BB's just hire senior guys with RX experience to generate incremental revenue during downturns? Obviously I am not knowledgeable in this area at all so I would really appreciate some insight from people in the industry. Thanks in advance.
There's a conflict of interest. You can't help advise a restructuring if you are also lending to that company.
Not on the debtor side
they can work to provide financing, in somewhat of a credit role (Refinancing/DIP financings). One of the BBs I have spoken with has a Rx group that does exactly this.
Barclays
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