Best Preparation for RX IB Internship Next Summer

Hi, 

Currently going to my junior year in college at a semi-target in NY. Recently landed an investment banking summer analyst internship at an EB in NY next summer (low tier RX EBs so think Rothschild/Ducera/Greenhill). 

Would very much appreciate some insight into how to best prep for this internship. In addition, given restructuring is very niche, would be nice to know the different types of tasks / different workstreams RX IB summer analysts work on. If there is any resources you recommend to best prep, that would be amazing as well! 

If anyone could describe their restructuring summer experience, that would be super helpful as well! 

Thanks in advance! 

Comments (5)

  • Intern in IB - Restr
Jul 27, 2022 - 6:44pm

Have a good understanding of the different scenarios that cause a company to become insolvent

Read about past bankruptcies and the in-court and out-of-court processes/ outcomes (amend/extend, reroll)

Understand how debt works (maturities, seniority, debt trading prices) and how that fits into the capital structure

If possible, learn how recovery models work + how to read SEC filings. Bonus points if you know how to use the Bloomberg Terminal.

Wall St. Prep's free articles + Restructuring Interviews are a good resource, as well as Moyer's Distressed Debt Analysis (first 4 chapters) and HL's case study (Buying and Selling the Troubled Company). If you have plenty of free time, read Kricheff's LevFin book and consider buying WSP's RX course.

Jul 28, 2022 - 9:52am
curious11, what's your opinion? Comment below:

Currently interning in RX and I think the advice above is good. I will add that by far the most important thing (and I know this is boring) is just being good at PPT and excel. If you can be accurate and relatively fast in those you will be viewed very favorably. PM me if you want more info I am at a shop similar to the ones you described. 

Jul 29, 2022 - 5:10am
tbach, what's your opinion? Comment below:

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