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Modelling for Debt Restructuring

Understanding the mechanics of restructuring debt, and applying best practice principles to a restructuring model

Modelling for Debt Restructuring Course

A two-day course

This course is essential knowledge for:

  • Financial analysts who need to prepare robust models for debt restructuring situations
  • Banking associates who need to manage and review financial models for debt restructuring proposals
  • All financial analysts who need refresher training in best practice modelling and applied financial mathematics
  • Analysts who need to build forecast operating models which incorporate new debt
  • Any finance staff who need to learn best practice in model-building, accounting and forecasting

  • Learn how to set out a debt model
  • Learn how to build in flexibility
  • Understand the steps for restructuring debt
  • Know how to incorporate bank covenants

  • Up-to-date spreadsheet best practice
  • How to build a flexible model
  • Excel Forecasting techniques
  • Financial analysis of distressed companies
  • Mechanics of restructuring debt
  • Adding management reporting

Day One 

Case Study Outline

  • Reasons for financial distress
  • Debt model objectives
  • Case study outline
  • Systematic Design Method
  • Basics of spreadsheet design
  • Modelling ‘rules’
  • Common spreadsheet errors
  • Exercise: checking a simple model for examples of errors and poor practice

Historic Statements

  • Modelling initial accounts
  • Income and balance sheet
  • Generating a cash flow statement
  • Exercise: adding and checking accounting statements

Historic Analysis

  • Identifying existing debt
  • Calculating forward debt repayments and current balance
  • Calculating debt and other ratios
  • Bankruptcy ratios and scores
  • Exercise: adding loan sheets and calculating ratios

Forecast Accounts

  • Forecasting accounts
  • Using timelines and flags
  • Sales growth
  • Cost base
  • CAPEX requirements
  • Working capital – stock, receivables, payables
  • Integrity checks
  • Dealing with circular references
  • Calculating cash requirements
  • Exercise: completing initial forecast statements

Day Two 

New Loans

  • Excel financial functions and maths refresher
  • Calculating new loans
  • Rate, profile and timing
  • Amortisation profiles
  • Incorporating scenarios
  • Exercise: calculating new loans and repayment profiles

Completing Forecast Accounts

  • Incorporating new loans
  • Balancing the accounts
  • Checking on requirements for further capital
  • Recalculating forward ratios
  • Computing forward default scores
  • Integrity checks on results
  • Exercise: adding loans to forecast statements and checking cash position

Model Stress Testing

  • Constructing forward scenarios
  • What-if and downside analysis
  • Optimising the model results
  • Assessing the importance of individual factors
  • Exercise: layering stress testing on the initial model

Model Completion

  • Version control
  • User documentation
  • Chart output
  • Dynamic dashboards
  • Management summaries
  • Exercise: model completion and final checks

The trainer has over 30 years’ experience in a wide range of roles in finance. He has delivered training courses on behalf of a number of international training companies since 2005.

He trained as a Chartered Accountant at KPMG in South Africa and New Zealand, before moving into industry with Ford Motor Company. He held various positions there in financial analysis, budgeting and forecasting, until he was appointed sales planning manager, responsible for forecasting models, production planning and supply logistics. He joined a multinational private consultancy group in Australia, as their general manager (finance); in this role, he guided the group through a period of major change and financial turnaround.

For the past 21 years, he has worked as a freelance financial modeller, analyst and trainer for a range of blue-chip clients. Assignments have included financial modelling for two major LNG projects in the Middle East, numerous renewable energy projects in both Europe and developing countries, structured financing for a large-scale property development, restructuring and outsourcing projects in the retail gas sector, and PPP transactions in the utilities, health and support services sectors.

With an extensive accounting background, he brings accounting knowledge and analytical skills to transactions and financial modelling. He has built up a great deal of experience in financial modelling in numerous sectors, including gas production, electricity generation, energy retailing, waste processing and property development sectors, as well as building financial models in central government departments, retail enterprises and high-volume online environments. He has built, developed and used models to support commercial negotiations, analyse risk, test scenarios and forecast results.

He has trained others in his specialism of financial modelling, and runs public courses on behalf of major training companies all around the world.

This workshop explores:

  • Spreadsheet best practice
  • Building a flexible model in stages
  • Forecasts and financial analysis
  • Restructuring debt
  • Adding management reporting

The programme is taught using a mixture of instruction, demonstrations and practical exercises.  The workshop emphasis concentrates on the application of financial theory to Excel to produce a flexible and informative model.

Each session consists of theory, demonstrations and a practical exercise as participants develop the model in stages.  The template for each session acts shows the solution to the previous session.

Comprehensive product notes will be provided to all participants. Participants receive a full pack of Excel software and templates for future reference as part of the course materials.

What participants will gain:

  • Principles of spreadsheet best practice
  • Application of best practice principles to a restructuring model
  • How to understand the financial reports
  • Methods to forecast and restructure debt
  • How to report and use the model

Have this course presented In-House

  • On a date, time and in a location of your choice
  • Topics expanded or deleted to your bespoke requirements

Have this course pre-recorded

  • Full course recording edited exclusively for your company
  • Files converted to enable housing on your LMS

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