Any suggestions on how to read up on restructuring and get a good grasp of terms, methodology, etc.
What should I expect in a restructuring interview vs IBD for SA
Thanks
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I have been reading "Distressed Investment Banking: To the Abyss and Back" and would give it a B-. Good introduction to the restructuring space and the unique characteristics of the work involved, but also sort of reads like an advertisement for the firm the author's founded.
A lot of questions about debt I would assume, and possibly some questions about LBO's since a lot of companies I know use LBO's models to analyze debt structuring for over levered companies. Also depends on the firm you're interviewing and the credentials of the people working there. At a boutique shop you may just encounter the run of the mill IB questions.
distressed-debt-investing.com http://vimeo.com/11209265
It might also be an idea to read investor letters from firms specializing in distressed debt. If anyone has an idea which investors focus on distressed debt I would love to hear.
Thanks for the input.
I've been reading up on distressed debt, lev fin, etc. Just want to be able to put the puzzle pieces together to get a well rounded understanding of what restructuring is -- so thanks for the resources
Distressed Debt Analysis by Stephen G. Moyer... one of the best books on the concept / practice of restructuring and plugged by the bros in HL's FRG who do quite well...
you probably don't have time to read through everything here, but in addition to Moyer's book, I would recommend The Art of Distressed M&A - has a lot of the concepts that you'll come across; additionally it's more recent so it captures the legal changes from the recent bankruptcy update and it goes into details of the accounting implications of distressed.
HL does an amazing walkthrough of the entire distressed M&A process. I would read this instead of all the other recommendations above. Its pretty concise (60 pages) and if you get a grasp of the basic ideas of the case study, you'll be golden. http://www.hl.com/library/bsttcacs.pdf
Thanks again guys
If you're a complete newbie to the process, then id structure it as follows: 1. Stephen Moyer's book distressed debt analysis 2. HL's case study 3. Marty Whitman's distress investing principles and techniques
Then go through some of the more substantive posts on distressed-debt-investing.com
Thanks for the HL file.
Read the whole case today during work. Very helpful/illustrative.
+1 on Moyer's book. Very good conceptual overview of distressed investing. He's an interesting dude.
Thanks for the HL file it was a great read! I think I am almost prepared for my PwC Corporate Advisory & Restructuring interview now!
also mention the Biffa ongoing restructuring to make them wet (assuming you're talking to UK PwC), they're advising the snr lenders
Restructuring Materials (Originally Posted: 08/19/2014)
Any good sources to learn about restructuring before starting a position?
Hi, wondering if you know how I should prepare to restructuring technical qns? Thanks!
Restructuring and bankruptcy news website (Originally Posted: 02/01/2009)
Hey guys -
Can someone please recommend a good website where I can keep up with bankruptcy/restructuring news and developments? i am looking for something similar to dealbook and dealjournal. Thanks in advance.
pacer.
Debtwire is a good one. TheDeal.com, Daily Bankruptcy Review...
debtwire is real good, are there any good ones that are free though?
.
ditto on debtwire..
freebies? not that i know of.
may want to consider setting up google news alerts on ur gmail with words such as bankruptcy, covenant breach, etc.
or start following these "distressed" industries (which is basically every industry right now) with a focus on retailers, gaming & casinos, chemicals, etc.
The world has changed. And we must change with it.
couple good sites as well:
http://www.iddmagazine.com/section/restructuring.html http://www.leveragedfinancenews.com/section/distressed.html
A couple I have found and some rss feeds are below. Not great, but they are on topic. Ch. 11 is really just a laundry list of filings.
http://www.chapter11blog.com/ http://netdockets.wordpress.com/feed/ http://distresseddebt.dealflowmedia.com/rss.xml
Does anyone know if when you log into Debtwire under the same account details as someone already logged in if you push them out?
Yeah I think so, one time I logged in and the next thing you know I heard screams on the other side of the building. When I logged in I pushed the lady off the side of the building
kind regards
BinBan
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