Learn how to model and value distressed companies and securities undergoing restructuring or bankruptcy process. First, appreciate and understand the historical perspective and context of the distressed market. Then, explore various opportunities in distressed investing from securities types to investment strategies. Properly identify and isolate the true sources and drivers of returns from supply & demand to operational changes to market rebound to recapitalizations. Quantify and comprehend the dramatic changes to a distressed firm's capital structure and the implications on the valuation process and realignment of economics. Understand the reorganization and bankruptcy process, including DIP (debtor-in-possession) financing, Section 363 sales (stalking horse), Chapter 11 reorganization, and Chapter 7 liquidation. Fully comprehend the key critical covenants required involved in distressed securities as well as the entire turnaround & restructuring process by identifying key parameters for successful business plan implementation. Wrap up by quantifying valuation impact by evaluating a basic distressed sensitivity financial model.
Prerequisite: Intermediate proficiency using Excel. To maximize the educational value of this program, we strongly recommend that you have an intermediate understanding of Excel. Lack of basic Excel skills will impede your ability to effectively acquire and implement the techniques and shortcuts that are presented in this program. Bring your PC laptop with a working USB slot and Microsoft Excel installed. Macs with Office 2008 will not be as effective. Laptops will not be provided.
Hamilton Lin, CFA, Founder & CEO of Wall St. Training, has a broad background in investment banking and mergers and acquisitions. His responsibilities have included analyzing, structuring and negotiating mergers & acquisitions. Mr. Lin custom-builds and develops all of the financial and merger models that he uses which have become corporate and departmental standards. Mr. Lin has closed over two dozen transactions and has diverse industry experience ranging from oil & gas to insurance to asset management and related sectors.
Student rate only available to students approved as a Student-Member of CFA Chicago for 2015-2016. Credit card is required to guarantee ALL reservations. No day-of-event pre-registrations accepted (on-site only, if applicable and space available). There is a $10 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, June 3.