Investment Banking case studies, worked step by step

Cases
100
Traced to a firm
55
Topics
12
Hard
30
Topic
All topicsLBO9Accretion and dilution7Reading financials8Restructuring11M&A strategy9Deal execution7Operating cases and estimation8Credit and leveraged finance9Comps and relative value9Sector valuation8Capital markets and financing8DCF and intrinsic value7
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 1–10 of 11 · filtered from 100Clear filters
  1. 004A holding company has notes outstanding and owns three operating subsidiaries, each with its own debt. In a liquidation, what do the holding company noteholders recover?RestructuringHardEvercoreNew York · 2025Houlihan LokeyNew York · 2025
  2. 011A steel company's finance subsidiary issued guaranteed notes and lent the money on to the operating company. Work out the noteholders' recovery with and without the double dip, and what it does to everyone else.RestructuringHardEvercoreNew York · 2026
  3. 018A telecom company moves its licences into an unrestricted subsidiary and offers noteholders new secured notes at 65 per 100. Work out the debt reduction, the holdouts' position, and why holders accept a haircut.RestructuringHardEvercoreNew York · 2025
  4. 029A shipping company in restructuring is worth Rs 600 crore against Rs 820 crore of claims in five classes. Run the waterfall, find each recovery and name the fulcrum security.RestructuringWarm upEvercoreNew York · 2026
  5. 038A cash-burning airline has cash, an undrawn revolver with a springing covenant, and leases it may be able to defer. How many months of runway does it really have, and what should management do first?RestructuringCoreRestructuring IBLeveraged finance
  6. 048A property company offers to swap notes due in a year for fewer, longer, second lien notes, conditional on 90% taking it. Value the offer to a holder who exchanges and to one who holds out, and explain the holdout problem.RestructuringHardHoulihan LokeyNew York · 2025
  7. 058Saptak Holdings owns 80% of a power generator with its own debt and all of a small trading arm, and owes notes at the holding company. What do the holdco noteholders recover in a liquidation, and how do the consolidated accounts overstate their protection?RestructuringHardMoelis & CompanyNew York · 2025
  8. 066In Kavish Textiles' restructuring, unsecured creditors get the new equity plus rights to buy more at a 30% discount, backstopped for a fee. What does each kind of holder recover?RestructuringHardRestructuring IBLeveraged finance
  9. 076Paravi Chemicals' bonds trade at 40 and you expect a restructuring in 18 months with recoveries of 20, 55 or 80 per 100 of face at 30%, 50% and 20%. What are the expected recovery and the expected IRR, and what would make you pass?RestructuringWarm upRestructuring IBLeveraged finance
  10. 085A hotel company has an Rs 800 crore bond due in 12 months, EBITDA of Rs 120 crore and lenders willing to lend 4.5x. Should it refinance, amend and extend, or sell a hotel? Size the gap and recommend a path.RestructuringCoreRestructuring IBLeveraged finance

Company names and figures are illustrative.