Capital Structure

Finance 101

by Karl - February 17, 2019February 17, 20190

Firms can choose to finance themselves with a number of securities: shares, bonds, preferred shares, convertible bonds, etc. These securities can be classified into two broad categories, debt and equity, and each comes with its own cost. Capital structure describes the way a firm finances itself. Capital structure can be represented

Incurrence Covenants for High Yield Bonds

by Matt - February 17, 2019February 17, 20190

Senior Debt Covenants (Maintenance and Financial Covenants) and Protections A covenant is a vow - positive covenants or covenants of a positive nature (do not commit fraud, file your financial statements no later than 60 days after the end of a fiscal quarter) commit an obligor to do something. Negative covenants

Sale and Leaseback Transactions in Investment Banking

by Matt - February 16, 2019February 17, 20190

When people think of a sale and leaseback transaction, they think about a company that owns some real estate or equipment and then agrees to sell it to a buyer and continues to use the asset sold by leasing it back. Very simple. And because of the simplicity of this arrangement, this

Stock Pitch: Long Canada Goose (TSE:GOOS)

by Karl - February 10, 2019February 17, 20190

This stock pitch is intended to be a resource for interview preparation, it should not be interpreted as investment advice. I recommend a long position on Canada Goose. Currently trading at $74.56, I believe it is undervalued as investors overreacted on Huawei news and the subsequent breakdown of Canada China relations.

Preparing for Your First Client Meeting As An Investment Banking Analyst

Career

by Matt - February 3, 20190

E. Jimmy Smith, HBA '20 His palms are sweaty, knees weak, arms are heavy There's vomit on his sweater already, mom's spaghetti He's nervous, but on the surface he looks calm and ready To drop bombs, but he keeps on forgettin' What he wrote down, the whole crowd goes so loud He opens his mouth, but