This course comprises four interactive webinars of 3 1/4 hours each, spread over two days. There is a 15-minute break in the middle of each webinar. Delegates are invited to contact the trainer directly after the webinars if they have any outstanding questions.
This course is intended for bankers, bondholders and other debt investors who are dealing with actual or potential distressed debt investments. We summarise the typical causes of distress, to enable lenders to adopt the optimal solution. We highlight the advantages and disadvantages of calling an event of default. We go through a restructuring case study and cash flow optimisation. We also review capital restructurings, including debt for debt swaps, full or partial debt for equity swaps, discounted debt buybacks, equity cures, benefits of a shareholder loan, M&A solutions etc. In some cases, the best outcome may be full or partial asset liquidation.
Cashflow forecasting is key to creating an optimal debt restructuring solution and the course covers distressed debt restructuring solutions in Excel to enable lenders to maximize their recovery rates and optimize their long-term returns, subject to prevailing insolvency laws, the lender’s capital situation and sometimes the wider interests of other stakeholders in the firm. We also give an overview of how documentation can impact the restructuring solution. Multi-creditor workouts and standstill agreements are also considered.
Case studies focus on a range of sectors, including property, retail, infrastructure, house building, media and industrial.