Wall Street Prep

Guide to Project Finance: Job Description and Responsibilities

The Technical Definition: Project finance is used to refer to a non-recourse or limited recourse financing structure in which debt, equity and credit enhancement are combined for the construction and operation or the refinancing ... Read More

Project Finance Model Structure

Project finance modeling is an excel based analytical tool used to assess the risk-reward of lending to or investing in a long-term infrastructure project based upon a complex financial structure. All financial evaluations of ... Read More

Explain the yield curve to me like I'm an idiot

On December 3, 2018, parts of the yield curve inverted for the first time in a decade. Specifically, the difference (“yield spread”) between 3-year and 5-year treasuries went negative. Take a look: That’s troubling, because ... Read More

Ultimate Guide to Debt & Leveraged Finance

Leveraged finance refers to the financing of highly levered, speculative-grade companies. Within the investment bank, the Leveraged Finance (“LevFin”) group works with corporations and private equity firms to raise debt capital by syndicating loans and ... Read More

DCF Model Training: 6 Steps to Building a DCF Model in Excel

A discounted cash flow model ("DCF model") is a type of financial model that values a company by forecasting its' cash flows and discounting the cash flows to arrive at a current, present value. The ... Read More

WACC (Weighted Average Cost of Capital): WACC Formula and Real Examples

The weighted average cost of capital (WACC) is one of the key inputs in discounted cash flow (DCF) analysis and is frequently the topic of technical investment banking interviews. The WACC is the rate at which ... Read More

The Ultimate Guide to Mergers and Acquisitions (M&A)

Mergers and acquisitions (M&A) is an umbrella term that refers to the combination of two businesses. It gives buyers looking to achieve strategic goals an alternative to organic growth; It gives sellers an opportunity ... Read More

Sell-Side Process

In M&A, the "sell-side process" describes the deal process from the seller's (and its financial advisors') perspective. There are a variety of reasons why a company might decide to sell: To cash out: Owners, particularly of private ... Read More

Tender Offer vs. Merger

A traditional merger is the most common type of public acquisition structure. A merger describes an acquisition in which two companies jointly negotiate a merger agreement and legally merge. The target board of directors initially ... Read More

Bloomberg vs. Capital IQ vs. FactSet vs. Thomson Reuters Eikon

Financial data providers are a key part of the the financial professional's workflow. For the investment banking analyst who needs to find historical data and forecasts in order to build a 3-statement model or for the currency trader looking for real-time ... 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.