Team Name

DCM

Frame-tastic
Debt amount:
Interest rate:
Secured / Unsecured: Select --> YES NO
financial covenant? Select YES NO

Star Hotel
Debt amount:
Interest rate:
Secured / Unsecured: Select --> YES NO
financial covenant? Select --> YES NO

M&A - Financial Sponsors Group

Frame-tastic
Enterprise Value:
Debt Package: Select --> Team 1 Team 20

Star Hotel
Enterprise Value:
Debt Package: Select --> Team 1 Team 20

DCM

Frame-tastic
Debt amount:
Interest rate:

Star Hotel
Debt amount:
Interest rate:

M&A - Advisory

Frame-tastic
EBITDA:
NWC:
Cash:
Book Equity:

Star Hotel
Revenue Synergies:
Cost Synergies:
Is accretive? Select --> Yes No

M&A - Financial Sponsors Group

Frame-tastic
Enterprise Value:
Debt Package: Select --> Team 1 Team 20

Star Hotel
Enterprise Value:
Debt Package: Select --> Team 1 Team 20

M&A - Debt restructuring

Big Truckers
Haircut:
Offer: Select --> Indicative Firm

M&A - Fairness Opinion

Frame-tastic
Enterprise Value - Fair Value Esitmate:

Star Hotel
Enterprise Value - Fair Value Esitmate:

ECM - IPO / Private Placement

Frame-tastic
Value Shareholder Loan:
Is under water: Select --> Yes No

Star Hotel
Is it possible to raise EUR 800 million: Select --> Yes No
Equity Value:
Share Price:

Debt Restructuring

You are the equity owner. The company is completely underwater with an intrinsic equity value of negative €50M. However, as the equity owner you still control the management. You could push for risky investments – you can’t lose more than your equity which is already negative, in case of success, your equity value might turn positive. You also can delay operations burning more cash and therewith reducing the value for the debt holders. Thus, the debt holders need you too some extend. In an out of court restructuring when a company is this much under water, the equity holder should receive a small amount. If it goes to court, you might have to pay a fine due to the reputational risk for not agreeing to a deal.