Hey everyone, HL opened their RX Summer Analyst application a few days ago. Any tips for their technical interviews? I want to ensure I'm well-prepared in case the first rounds are scheduled soon. Appreciate any advice!
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Hey, are you at the entry level? If so, I'd love to do mock behavioral interviews if you're interested.
This is for the summer analyst position. Have you gone through the HX RX process before?
Hey, I have not. I am looking for someone to practice behaviorals with. I'm going for FDD
Based on the most helpful WSO content, here are some tips for preparing for Houlihan Lokey's Restructuring Summer Analyst technical interviews:
Understand the Bankruptcy System: Familiarize yourself with the basics of the bankruptcy process, including Chapter 11 and Chapter 7 filings in the U.S. This knowledge is crucial for restructuring roles.
Debt Mechanics: Get a solid grasp of the mechanics of debt, including seniority, secured vs. unsecured debt, and covenant packages.
Case Studies: Review Houlihan Lokey's case study if you haven't already. It provides a good overview of the restructuring process and can be found here: http://www.HL.com/library/bsttcacs.pdf</a">HL Restructuring Case Study.
Cap Tables and Analysis: Be comfortable with creating and analyzing capitalization tables. This will likely be a significant part of your technical assessment.
Distressed Debt Analysis: Stephen Moyer's "Distressed Debt Analysis" is a recommended read. It offers a comprehensive look at distressed situations from an investing perspective, which can be very applicable to restructuring.
Stay Updated: Keep abreast of the latest distressed companies in the market. The Distressed Debt Investing blog is a great resource for this.
Practice Technical Skills: Make sure you can perform basic analyses like understanding a company's capital structure and making cap tables, as these are essential skills in restructuring.
Legal Framework: Have a basic understanding of the legal aspects of restructuring, such as the differences between various types of debt and their legal standing.
Remember, practice makes perfect. The more you familiarize yourself with these concepts and the more you practice, the better prepared you'll be for the technical aspects of the interview. Good luck!
Sources: How to Prepare for Restructuring Technical Questions, https://www.wallstreetoasis.com/forum/investment-banking/how-to-prepare-for-restructuring-technical-questions?customgpt=1
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