Debt Capital Markets case studies, worked step by step

Cases
100
Traced to a firm
34
Topics
12
Hard
30
Topic
All topicsPrivate credit and direct lending8Debt capacity and loan structuring9Bond issuance and execution9Credit analysis and ratings12Asset-backed, project and real-asset lending8Structured finance and securitisation9Leveraged finance and LBO financing11Capital structure decisions6Rates and hedging8Liability management and refinancing8Indian debt market execution5Restructuring and recoveries7
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 1–10 of 15 · filtered from 100Clear filters
  1. 002Live case: Ashvel Paper needs Rs 900 crore for a mill expansion. EBITDA is Rs 260 crore today and should reach Rs 400 crore in year 3. Propose the tranches, moratorium, repayment profile and covenants, with debt service cover of at least 1.3x in every year.Debt capacity and loan structuringHardScotiabankNew York · 2026
  2. 007You are given Pellora Pharma's financials: EBITDA Rs 420 crore, debt Rs 700 crore, receivable days up from 95 to 130. Find the business drivers and credit issues, write your management meeting questions, and work out how much more debt it can take at a 3.0x leverage ceiling.Credit analysis and ratingsHardMoody'sHong Kong · 2018
  3. 010A Rs 2,000 crore term loan B for Pravinta Cables launches at benchmark plus 400 at 99.5. Commitments reach Rs 1,700 crore, and another Rs 900 crore appears at plus 425 at 99.0. The flex allows 50 basis points. Do you flex, and what is left on the bank's books either way?Leveraged finance and LBO financingHardScotiabankNew York · 2026
  4. 015Sahajik Finance's loan tape has 2,000 borrowers in four internal grades with a year of default counts. Compute the default rate by grade and the expected loss at 55% loss given default, check whether the grades rank risk correctly, and suggest pricing by grade.Private credit and direct lendingHardJane StreetLondon · 2025
  5. 021Nirmitra Roads wants to issue Rs 1,500 crore of five-year bonds. The central bank meets in 8 days, markets price a 60% chance of a 25 basis point cut, and a results blackout starts in 12 days. Go now or wait?Bond issuance and executionHardTD SecuritiesToronto · 2026
  6. 033Korvath Industries plans a Rs 1,000 crore 10-year bond in three months and fears rates will rise. Which derivative would you use to lock the rate, and what happens if government yields rise 40 basis points and its credit spread widens 20?Bond issuance and executionHardGoldman SachsLondon · 2025
  7. 039Nandavan CLO I holds Rs 500 crore of loans against class A notes of Rs 330 crore and class B of Rs 55 crore, with an A/B overcollateralisation trigger of 125%. After a default and a CCC haircut, does the test fail, and how much cash is diverted from the equity to cure it?Structured finance and securitisationHardNomuraNew York · 2026
  8. 041Mervaka Retail, a footwear and apparel chain, reports EBITDA of Rs 500 crore and debt of Rs 600 crore, but pays Rs 200 crore a year of rent on long store leases. Which credit metrics would you look at, and what is leverage on a lease-adjusted basis?Credit analysis and ratingsHardTruist SecuritiesAtlanta · 2024
  9. 043A sponsor is buying Tarvik Education at 9x EBITDA of Rs 150 crore with 5x debt, and the cost of debt rises from 9% to 11% before signing. How does that move the sponsor's IRR, and how much less must it pay to keep a 20% IRR?Leveraged finance and LBO financingHardHoulihan LokeyLos Angeles · 2025
  10. 058A company has filed. Given the enterprise value and a list of claims, including a bank loan only partly covered by its collateral, what is the recovery on each claim?Restructuring and recoveriesHardHoulihan LokeyNew York · 2026

Company names and figures are illustrative.