hi guys,
when you restructure a balance sheet, assume no legal costs, and write down the debt to lets say 50% of par, how does the asset side balance off? I'm having problem trying to bring the assets down as i'm used to writing them up in an LBO through the goodwill line..
thanks
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yes, on a technicality it looks like a swap even tho i refer to it as a write down...
i'm looking at an out of court type restructuring where you're swapping say $50m of par for $20m of new notes... im just not familiar with how you downside the asset side as there is essentially a $30m "disappearance" of debt...
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