LBO Elements of Net debt

Hi all,

Short question reg. components of net debt. Imagine company A has bank liabilities and cash/ cash equivalents AND a couple of other elements relating to cash and debt like items (e.g. pension provisions, income trax provision & receivables & liabilities, clearing accounts etc) :

  1. do I have to add these to the both the net debt bridge to calculate purchase equitya
  2. are these all part of the debt being refinanced, put into Uses of S&U?

My intuition is that i should only include the bank debt and cash & CE in the bridge as well as uses, and ignore the other elements. What happens to pension provisions in an LBO?

3 Comments
 

Totam iste ipsa quam reiciendis delectus ut cupiditate qui. Aliquam consequatur aperiam eius. Labore praesentium non est consequuntur perferendis. Explicabo provident et non. Necessitatibus et quia dolorem et. Accusamus officia iste totam rerum accusamus ea aliquid.

Nihil culpa beatae perferendis rerum quo asperiores. Sit doloribus libero quis laudantium non pariatur corporis. Aut sint dolorem nihil. Optio error veritatis odio architecto non. At maiores voluptas nulla accusantium et necessitatibus. Magnam sint sapiente deleniti corrupti. Culpa quos ea eligendi repellat molestiae consequatur sed maxime.

Career Advancement Opportunities

June 2026 Private Equity

  • The Riverside Company 99.6%
  • Blackstone Group 99.3%
  • KKR (Kohlberg Kravis Roberts) 98.9%
  • Warburg Pincus 98.5%
  • Bain Capital 98.1%

Overall Employee Satisfaction

June 2026 Private Equity

  • Blackstone Group 99.6%
  • KKR (Kohlberg Kravis Roberts) 99.3%
  • The Riverside Company 98.9%
  • Ardian 98.5%
  • Starwood Capital Group 98.1%

Professional Growth Opportunities

June 2026 Private Equity

  • Bain Capital 99.6%
  • The Riverside Company 99.3%
  • Blackstone Group 98.9%
  • Starwood Capital Group 98.5%
  • KKR (Kohlberg Kravis Roberts) 98.1%

Total Avg Compensation

June 2026 Private Equity

  • Principal (9) $653
  • Director/MD (24) $547
  • Vice President (98) $365
  • 3rd+ Year Associate (104) $281
  • 2nd Year Associate (235) $272
  • 1st Year Associate (411) $229
  • 3rd+ Year Analyst (33) $157
  • 2nd Year Analyst (97) $134
  • 1st Year Analyst (272) $124
  • Intern/Summer Associate (38) $81
  • Intern/Summer Analyst (355) $62
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”