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Debt Modelling (with LBO)

BPP Professional Education
Course summary
6 hours
730 GBP excl. VAT
London, Online courses
Next available date: 14/10/2021 - London
Professional Training

Course description

Debt Modelling (with LBO)

During this one-day course delegates will construct a debt cash flow model in the context of an LBO transaction. The inputs to the model will be the operating cash flows of a business alongside some typical LBO debt constraints, and via the modelling of the debt cash flows, the Internal Rate of Return (IRR) of the transaction will be determined (and subject to a sensitivity analysis). Best practice financial modelling will be applied throughout.

Suitability - Who should attend?

A one-day course for finance professionals who need to create, analyse and interpret simple debt cash flow models. The course is set in the context of an LBO transaction, but is relevant to any form of debt modelling. Delegates without a good understanding of basic excel functionality should first attend the one-day Excel Essentials for Financial Modelling. Laptops (excel v.2013) are provided.

Outcome / Qualification etc.

  • Key features of an LBO transaction
  • Length of investment
  • Exit routes – Initial Public Offering (IPO), trade sale, secondary buyout, liquidation
  • Cash generation and profitability growth of business being acquired
  • Source, length and credibility of forecasts
  • Finance mix
  • Creating the operating model
  • Sales, EBITDA and working capital
  • Capex and depreciation
  • Sources and uses of funds
  • Uses of funds
    • Equity acquisition
    • Refinanced debt
    • Fees
  • Sources
    • Debt capacity constraints
    • Senior tranches
    • Mezzanine
  • Building the debt schedules
  • Circularity issues
  • Capital repayment options
  • PIK interest
  • Revolver
  • Cash sweep
  • Debt waterfall
  • Tax
  • Tax treatment of interest
  • Carry forward of tax losses
  • Equity return
  • IRR
  • Cash/money multiple

  • Sensitivity analysis

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About provider

BPP Professional Education

BPP Professional Education -  Accountancy, Tax, Financial Services, Law & Insolvency Courses

BPP Professional Education is one of the specialist examination-based and professional development training arm of the BPP Group, Europe's biggest professional education and publishing provider with 2,000 staff members across 40 countries and over 30,000 students per year. BPP Professional Education...

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Contact info

BPP Professional Education

3 London Wall Buildings
EC2M 5PD London

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