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 1–9 of 9 · filtered from 100Clear filters
  1. 009Karvanya Auto Loans securitises a Rs 1,000 crore pool into senior (85%), mezzanine (10%) and equity (5%) tranches, with excess spread of 2% a year. Cumulative losses reach 7%. Which tranches lose, how does excess spread change the answer, and what credit risks would you evaluate?Structured finance and securitisationCoreMoody'sNew York · 2024
  2. 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
  3. 040Velkora Warehousing Park has gross potential rent of Rs 48 crore, 8% vacancy and operating costs of 20% of effective income. Get to value at an 8% cap rate, then size a refinancing loan at 60% loan-to-value and 1.4x debt service cover. Which test binds?Structured finance and securitisationCoreInvescoNew York · 2025
  4. 050Anvayana Home Loans wants to sell Rs 500 crore of home loans. Compare a direct assignment at the pool yield with a pass-through structure needing 10% credit enhancement: what does each do to its income, and how much risk does it really shed?Structured finance and securitisationCoreStructured creditIndian debt capital markets
  5. 068Build a simple delinquency model for a mortgage pool using monthly roll rates between arrears buckets, project the 90+ bucket for three months, and say which borrower factors you would add.Structured finance and securitisationCoreNeuberger BermanChicago · 2024
  6. 071A microfinance lender securitises a loan pool through pass-through certificates. Size the credit enhancement from expected loss, split it between cash collateral and over-collateral, and name the risks specific to this asset class.Structured finance and securitisationHardMoody'sNew York · 2024
  7. 077You buy mortgage-backed pass-through bonds at 102. How do their average life and yield change if borrowers prepay 10% a year against 25% a year?Structured finance and securitisationCoreStructured creditFixed income asset management
  8. 081An expressway operator wants to borrow against ten years of future toll collections. Size the issue at 1.5x cover, then show what a 20% traffic shortfall does to that cover.Structured finance and securitisationHardStructured creditCorporate banking
  9. 099A two-wheeler loan pool yields 14%. The senior bonds pay 8.5% on 85% of the pool, servicing costs 1% and expected losses are 2.5%. How much excess spread is there, and what does it protect?Structured finance and securitisationWarm upStructured creditRating agencies

Company names and figures are illustrative.