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Double Exit

Corporate Debt Restructurings

Dealing with companies that end up with too much debt is a core part of corporate finance. There are plenty of recent examples of companies that had unsustainable debt levels and needed to restructure these to survive (e.g. Digicel, NewLook, Carillion, PizzaExpress). For some, there can be a solution whereby the debt is restructured and […]

Capital Structure – Netflix

The news last week that Netflix is raising another $1bn of debt to fund more original content and possible business acquisitions has again brought into focus Netflix’s funding model and capital structure. In 2019 the company had two separate fundraisings totaling in excess of $ 4bn in debt and as of March they had over […]

Debt Finance & Loan Covenants

For any company borrowing money, the issues of the amount to be borrowed, the interest rate charged, and the term of the loan are typically the first things to be focused on when negotiating a lending agreement. However, another key aspect of any such agreement between a lender and a company will be the covenants […]