Wall Street Prep

Restructuring External Stakeholder Dynamics: 3rd Party Relationship Management

In our previous article, the importance of understanding the Internal Stakeholders in Restructuring and their specific motives to arrive at an equitable compromise was discussed. However, an additional factor that must not be neglected ... Read More

Restructuring Internal Stakeholder Dynamics: Claimholder Incentives Alignment

To receive approval, restructuring plans must be constructed based on the alignment of the incentives amongst the key internal stakeholders. Broadly, the two main internal stakeholder groups in restructuring are: Creditors: Bank Lenders, Institutional ... Read More

Fulcrum Security Primer: Restructuring and Distressed Debt Investing

The fulcrum security is the most senior security that, after undergoing restructuring, has the greatest likelihood of conversion into equity ownership. This is due to the security's positioning in the capital structure at the ... Read More

Bank Debt vs. Corporate Bonds: Comparison of Debt Financing Types

The most common form of corporate debt is bank debt, which at the most basic level is conceptually the same as any other loan or credit product from the local retail bank (but just ... Read More

The Ultimate Guide to the Chartered Financial Analyst (CFA) Program

The Chartered Financial Analyst (CFA) designation is a globally recognized credential for investment and finance professionals. In this article, we will delve into why there are polarizing views on the CFA program and who ... Read More

Investment Banking in Hong Kong: Recruiting Process, Cultural Differences, and Trends

The landscape for investment banking in Hong Kong is bifurcated into global banks and domestic banks. For investment banking business involving major cross-border M&A or debt or equity issuances for marquee Chinese companies, the ... Read More

Investment Banking in Canada: Big Five Banks, Target Schools and Salaries Guide

Canada has a robust investment banking industry that supports the domestic market and serves as a global hub for mining and resource companies. Investment banking in Canada revolves almost entirely around Toronto, with significantly ... Read More

Corporate Banking 101: Revolving Credit Facilities

Revolving Credit Facilities ("Revolver") refer to a common loan that acts like a credit card for large companies and, along with Term Loans, is a core product in corporate banking. With a revolver, the ... Read More

Corporate Banking 101: Key Lending Ratios

As we learned in the Ultimate Guide to Corporate Banking, Corporate Banks provide revolving credit facilities, term loans, bridge finance and cash management services to its clients. In this article, we will go through ... Read More

Corporate Banking 101: Term Loans, Bridge Loans and Letters of Credit

The corporate bank falls within the investment banking division of financial institutions that have a balance sheet (meaning they make their own loans). Next we turn to the corporate banks other core product: Term ... Read More

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The Wall Street Prep Quicklesson Series

7 Free Financial Modeling Lessons

Get instant access to video lessons taught by experienced investment bankers. Learn financial statement modeling, DCF, M&A, LBO, Comps and Excel shortcuts.