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Introduction to Debt Capacity

Debt capacity is an analysis conducted in determining what is the sustainable level of debt for a company. Debt capacity is a very important concept to understand in credit. As such, debt capacity is the first thing they teach in the training manual for corporate and commercial bankers – how much

Precedent Transaction Comparables

In a previous series, we covered trading comparables in depth. Trading comparables (or simply “comps”) are one of the three core valuation methodologies that investment bankers use. In this post, we cover precedent transaction comparables (also called “precedents” or “transaction comps”) – which are also important, especially for an M&A context. Spreading

Distressed Debt Overview

Introduction to Distressed Debt Similar to all other aspects of finance and investing, distressed debt investing means higher risk and higher reward. Distressed debt is in itself a very unique asset class that falls under the jurisdiction of alternative asset managers – primarily hedge funds. Although debt markets are very large

中国留学生在加拿大的提示 | Tips for Chinese International Students in Canada

(商学院或經濟貿易) 我们收到了来加拿大完成本科学位的中国留学生的大量问题。这些国际学生中有超大比例选择商学院或經濟貿易. 不確定情況是否隨著中加關係惡化而改變; 去加拿大唸書理想的結果是會找到進階的工作而薪金比在上海/北京/深圳 同类型的工作要高得多(但薪金不比香港高,相等的入门职级,香港的薪金跟纽约看齊; 也是申請居留權的途徑和短暫地離開高度競爭的中國社會的方法。 当然,每个人都渴望要进入并在一家顯赫的公司从事投资银行业务。这是否可行?答案是可行。但有可能吗?答案是沒有可能。最终,国际学生必须务实,积极主动地进行规划,否則就會一事無成。 7404

LBO Model Toggles

Building a Full LBO Model We discuss the theory behind the LBO and also how to build one in other posts. All our readers should know how to put together a basic and bare bones LBO - but in reality an LBO model can be very functional for any situation that

Private Equity Modeling Test

It is fairly well documented that investment bankers aspiring to exit into private equity have to do an Excel test/financial modeling test as part of the interview. We confirmed that this is generally the case for interviews at any reputable PE firm - and it is also the case when investment

Infrastructure Private Equity

Infrastructure as a Growing Asset Class As we discussed in a separate article, infrastructure is growing as an asset class. Owing to the characteristics of infrastructure versus fixed income - long-life nature of infrastructure assets (a bridge can last 50 years versus a 5-10 year bond), higher returns (even the safest,

ESG and Infrastructure Trends

Now that we have moved over to the buy side, we wanted to point out a couple of trends that we are seeing lately in terms of where money is flowing (and as such, where investment bankers will want to expand their coverage). ESG Friendly Investing The first is ESG - environmental,

Investment Banking in London

As told by various investment bankers at Elite Boutiques, Bulge Brackets and mid-markets London is one of two global investment banking capitals alongside New York City, and unsurprisingly plenty of aspiring bankers are looking to work in London. We have a lot of friends working in London and have spent a

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