Online Financial Modeling, Investment Banking, Excel Training

PACKAGE 6:
LEVERAGED BUYOUT MODELING

Package: $300
(Save 42.9%)

Construct and sensitize LBO models and capital structure changes (more)

Overview of Courses
Our LBO modeling courses introduce critical skills required for properly understanding and quantifying capital structure changes from simple share repurchases to the extreme of a leveraged buyout. The techniques and concepts learned in building proper, robust, dynamic and flexible LBO models are highly valued given the relative difficult nature of setting up, quantifying and articulating the complex relationships and intricacies of the LBO. We clearly convey the complexities involved in understanding the deal structure, sources & uses, refinancing options, credit ratios and the all-important debt sweep.

Leveraged Buyout Overview

($75)

Course Goals & Overview:
This course provides a basic overview and introduction to leveraged buyouts, including discussion of rationale for 'going private', ideal LBO candidate, drivers of value. The following items are discussed, including description, importance, implications and general thoughts on: valuation, debt capacity, scenario analysis, sources & uses of funds, rollover equity, pro forma capital structure, purchase vs. recap accounting, goodwill treatment and other issues. You will gain some basic & fundamental knowledge required to understand LBO transactions. The purpose of this course is to introduce some of the terminology and concepts required for our Quick & Dirty LBO Modeling and Complex LBO Modeling courses.

Course Sections:
Discussion of the following, including description, importance, implications and notes of the following areas:

Valuation Summary

Maximum Debt Capacity

Refinancing Scenarios

Expenses � Definitions and Accounting Treatment

Sources and Uses of Funds

Equity Sources and Rollover Equity

Interest Rate Scenarios

Pro Forma Capital Structure

Purchase Accounting vs. Recapitalization Accounting

Goodwill Calculation / Treatment and Amortization (FASB 141/142)

Pro Forma Opening Balance Sheet & Adjustments

Pro Forma Shareholder�s Equity Treatment

Cash Flow Statement and Debt Sweep Adjustments and Expansion

Prerequisites:

Accounting & Financial Statements Integration

Finance 101 � Introduction to Finance

Corporate Valuation Methodologies

Video Length / Estimated Total Course Time:
1 hour / 1 hour

Individual Course Price:

$75

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Quick & Dirty Basic LBO Model

($150)

Course Goals & Overview:
Leveraged buyouts (LBOs) are risky and complex financial transactions � sometimes, building a full-out, complex LBO model is not necessary or required if one just wants to quickly gauge the feasibility of an LBO. This class builds a short, quick and dirty LBO analysis that incorporates all the major inputs and value drivers of an LBO transaction and provides an excellent condensed overview and introduction to LBO modeling.

Course Sections:

Create a quick and dirty, condensed LBO model from scratch

Build a summary Sources and Uses of Funds analysis that dictates LBO value

Construct a Pro Forma, post-LBO Income Statement projection model incorporating LBO changes

Calculate and flow cash available to firm through debt sweep pay off high debt volumes

Create condensed IRR (internal rate of return) analysis to evaluate financial sponsor returns

Analyze basic credit and leverage statistics and equity sources that drive the LBO model

Prerequisites:

Accounting & Financial Statements Integration

Corporate Valuation Methodologies

Company Overview

Basic Financial Modeling

Advanced Financial Modeling � Core Model

M&A Deal Structuring

Merger Modeling Basics

LBO Overview

Efficiency in Excel

Video Length / Estimated Total Course Time:
1 hour / 1.5 hours

Individual Course Price:

$150

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Advanced LBO Modeling

($300)

Course Goals & Overview:
This course builds upon our Share Repurchase and Quick & Dirty LBO modeling courses which quantifies changes to capital structure and opportunity cost and our Basic, Quick & Dirty LBO modeling course. We start off by diving deeper into the typical LBO deal structure and then expand upon the different components of the Sources & Uses analysis; projecting selected critical Balance Sheet items; constructing more detailed Cash Flow Statement estimates and robust Debt Sweep, as well as triangulating IRRs for dividends to equity sponsor. Learning objectives include: construct and sensitize an advanced leveraged buyout model with many nuances and complications of our full-blown complex LBO model; incorporate fundamental drivers including Sources & Uses, Pro Forma, post-LBO projections, available cash flow, debt sweep, credit ratios and IRR; selected Pro Forma Balance Sheet items, Debt and Shareholder Equity accounts; Debt Sweep: incorporate Term Loan mandatory amortization and integrating and sweeping additional new and existing debt tranches; sensitize core IRR to equity sponsor as well as triangulate IRR

Course Sections:

Build an expanded Sources and Uses of Funds analysis that dictates LBO value

Sources of Funds: inclusion of rollover equity, detailed debt structure & maximizing debt capacity

Uses of Funds: ability to toggle refinancing of existing debt, excess cash usage, proper treatment of debt financing fees, tender costs and transaction costs

Construct a Pro Forma, post-LBO Income Statement projection model incorporating LBO changes

Calculate new, Pro Forma interest expense and amortization of debt financing fees

Calculate cash flow available to firm through expanded debt sweep pay off high debt volumes

Constructed simulated Cash Flow Statement, including CFO, CFI and CFF

Expanded Debt Sweep schedule to flow through various debt items

Incorporate Term Loan mandatory amortization and dynamic pre-payment

Integrate and sweep through additional new and existing debt tranches

Create condensed IRR (internal rate of return) analysis to evaluate financial sponsor returns

Comparison of IRR to multiple of capital as a return metric and benchmark

Identify true source of returns, from building of equity to time value of money

Compare and contrast returns trends based on exit multiple contraction or expansion

Discussion on why highly levered transactions must exit within 3 to 5 years

Analyze and partially quantify the trend towards dividends to financial sponsor as opposed to debt paydown

Triangulate IRR when there are unequal cash flow returns to equity sponsor primarily through dividends

Analyze basic credit and leverage statistics and equity sources that drive the LBO model

Prerequisites:

Basic Financial Modeling

Advanced Financial Modeling � Core Model

M&A Deal Structuring

Merger Modeling Basics

LBO Overview

Quick & Dirty LBO Modeling

Efficiency in Excel BR>
Video Length / Estimated Total Course Time:
2.5 hour / 4 hours

Individual Course Price:

$300

Click here to register now!