Wall Street Oasis – Restructuring Course

Learn about the basics of dealing with financial distress and turning around a failing business. You will get an overview of the restructuring process and the different perspectives of the stakeholders involved. You will also learn about the possible outcomes and options for restructuring and setting goals and strategy. Finally, you will apply what you learn to a case study.

Discover how Chapter 11 works and what are the key metrics to evaluate a distressed company. You will also understand the role of the automatic stay, the absolute priority rule, the first day motions, and the financing alternatives in Chapter 11. Finally, you will learn how to read and analyze a plan of reorganization (POR) and what happens when a company liquidates under Chapter 7.

This module teaches about various aspects of yield to maturity (YTM) and credit risk. It covers how to calculate YTM, how credit risk influences YTM, how leverage varies across industries, and how interest coverage measures solvency.

This module will equip you with the knowledge and skills to understand and analyze DIP financing cases and how DIP financing can provide a lifeline to distressed companies and enable them to continue operating while they work on their recovery. You will also gain insights into the current trends and issues in DIP financing.

In this lesson, you will learn all about debt and how it affects corporate restructuring. You will discover the different aspects of debt, such as par value, coupon rate, payment-in-kind, and maturity. You will also understand how to compare fixed and floating coupon rates and how LIBOR and prime rate influence them. Finally, you will see an example of how to analyze the capital structure of a company and how to optimize it for value creation.

This module teaches how to analyze a company’s financing choices using different tools and frameworks. Learn about the different types of debt instruments that a company can use to fund its activities and assets, as well as their advantages and disadvantages, and about some important concepts that help evaluate a company’s capital structure in terms of cost, value, risk, flexibility, and distress.

This module teaches how to deal with financial distress and liquidity problems by renegotiating debt obligations. You will learn about different types of debt pieces and how they affect the company’s capital structure, typical negative and maintenance covenants, and events of default and how they can trigger acceleration clauses or bankruptcy filings.

This module teaches you about the various out-of-court restructuring and liquidation alternatives that companies and their creditors can use to avoid or minimize bankruptcy proceedings. Learn about the benefits and drawbacks of different options. You will also learn how to model different scenarios and evaluate their impact on the company’s capital structure and value.

This module is about how to value a company in bankruptcy and the distribution of returns to stakeholders. You will learn how to identify the bondholder view of value. You will also learn how to find the fulcrum security. You will understand the key thresholds related to bond issues. You will explore the voting requirements and cramdown provisions that govern the approval of a restructuring plan.

Corporate restructuring professionals work in various roles such as restructuring banking, restructuring consulting, credit investing (high-yield), and credit investing (distressed). These roles require different skills, qualifications, and experiences. This module provides an overview of each role and how to prepare for them.

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