Introduction
Restructuring is a specialized area of investment banking that focuses on advising companies that are in financial distress. Restructuring bankers work with companies to develop and implement plans to improve their financial performance and avoid bankruptcy.
Restructuring bankers typically work on a variety of tasks, including:
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Analysing a company's financial situation to identify the source of its problems.
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Developing and evaluating restructuring options, such as debt restructuring, asset sales, and bankruptcy.
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Negotiating with creditors and other stakeholders to reach a mutually agreeable solution.
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Implementing the restructuring plan and helping the company to recover.
Restructuring bankers are typically organized into teams, with each team member having a specific role. Analyst are typically responsible for tasks such as financial analysis and data modelling. Associates are responsible for more complex tasks such as developing and evaluating restructuring options. VPs are responsible for managing restructuring teams and negotiating with creditors. Directors are responsible for overseeing the entire restructuring process and ensuring that the company's recovery plan is successful.
Examples
Here are some examples of recent restructuring deals that have been completed by Evercore and PWP:
Evercore
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Advised Chesapeake Energy on its $10 billion bankruptcy restructuring.
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Advised Whiting Petroleum on its $3.5 billion bankruptcy restructuring.
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Advised Diamond Offshore Drilling on its $2.5 billion bankruptcy restructuring.
PWP
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Advised Revlon on its $1.4 billion bankruptcy restructuring.
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Advised Pier 1 Imports on its $750 million bankruptcy restructuring.
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Advised J.C. Penney on its $1.5 billion bankruptcy restructuring.
Restructuring is a challenging but rewarding field for investment bankers. Restructuring bankers have the opportunity to make a real difference in the lives of companies and their employees.
Additional Information
Restructuring bankers typically work long hours and are often under pressure to meet deadlines. However, they are also well- Compensated and have the opportunity to work on some of the most complex and challenging deals in the investment banking industry.
Conclusion
If you are interested in a career in restructuring, you should have a strong understanding of finance and accounting. You should also be able to think critically and solve complex problems. Additionally, it is important to have strong communication and negotiation skills.
If you are looking for a challenging and rewarding career in investment banking, restructuring may be a good fit for you.
