Private Credit Modeling / Case Study

Hello,

I'm in the process of interviewing at a MM DL private credit fund with a case study next and had a few questions, will be getting a CIM, need to complete a model and IC memo.

• Would it be safe to assume I will be doing an LBO model and I should focus more around credit metrics (leverage, interest coverage, FCCR, etc.) and the downside case? 
• Do I need to show the IRR / MOIC to the lender? If so, I would assume the cash inflows would just be recouping principal + interest income + OID or upfront fee (noting that they make equity co-investments)
• Would pricing the debt (most likely unitranche) based on publicly traded BDCs investments in the same industry during the last quarter be adequate? 
• What are critical components to include in the IC memo, along with usual format (ppt or word) and length? Would assume need to include exec summary, company overview, risks and mitigants, financials, model, S&U / PF Cap.
• Do I need to create a hypothetical term sheet including covenants or will they be given, ie Debt / EBITDA < 6.0x? 

Thanks in advance! Any examples on sample models / memos would be greatly appreciated - I can PM you.