Hi,
What is the best book / source to learn about debt, definition, lien, seniority, usual interest (LIBOR + X%), pros and cons for each type of debt, usual PE debt structure, debt swap to equity strategies, how do you treat PIK pre and post-transaction, etc...Any good website or useful information ?
Thanks
good question, i want to know also
I would say the following are a good couple of books:
I read the Pearl and Rosenbaum's "Investment Banking" chapters on LBO, I agree it is quite good for a start. Concerning Stephen Moyer's "Distressed Debt Analysis" I have only read good things about the book but I have not bought it following some concerns that all the ananlysis presented in the book was too focused on distressed situations, is that the case ?
Gives you a pretty good overview of debt covenants, seniority etc. So it's well worth a read even if you aren't interested in distress.
The Obama Administration
Epic! SB for you, sir.
Thought about throwing monkey shit at you because you reminded me of a miserable truth, but it was just to damned clever ...
moyer's book is the best
I've got an armada of books that cover all of those topics as well as websites... Unfortunately, I'm just not in a sharing mood today...
Any more suggestions?
Leveraged Financial Markets by Maxwell/Shenkman
I'd also read anything written by martin whitman. guy is a pioneer on the debt side of investing via graham/dodd approach
http://www.distressed-debt-investing.com/
Fabozzi's Fixed Income Guide is a good encyclopedia-style resource that covers all types of instruments
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