Goizueta Credit and Restructuring

A student-run organization for undergraduates that strives to provide credit and restructuring content and knowledge to all interested.

Restructuring

Financial restructuring is the process of reorganizing a company's capital structure in response to financial distress, with the overarching goal of reducing its debt burden and improving go-forward liquidity. This often involves negotiating new credit terms with lenders, converting debt to equity, or raising new money in increasingly creative ways. These transactions involve both debtor- and creditor-side mandates and take place in both out-of-court or in-court settings.

Credit Investing

Credit investing broadly refers to the process of deploying capital into a company's debt structure, in return receiving interest payments and potential capital appreciation. In a distressed context, savvy investors target companies facing financial and/or operational challenges, in which debt instruments trade at a discount to face value. By providing rescue financing, purchasing loans in secondary markets, or negotiating restructurings, credit investors can influence outcomes and capture upside as businesses stabilize and recover. This strategy demands deep analysis of capital structures, underlying collateral value, and creditor rights to identify attractive opportunities and mitigate downside risk.

How we do it

  • Weekly sessionsTaught by members who have used these pertinent concepts in practice (see below).
  • Guest speaker eventsAnalysts and investors from restructuring groups, distressed funds, and private credit platforms join us through the year to talk about their work and take questions.
  • Pitch workMembers build and pitch a credit thesis, present it, and defend it.
  • Recruiting preparationMock interviews, a maintained technical question bank, resume review, and an honest account of how and when firms hire.

Credit Fundamentals Course

Weekly sessions:

  • 01Why Companies Borrow Money
  • 02The Capital Structure: Who Gets Paid First
  • 03Credit Analysis I: Evaluating the Business
  • 04Credit Analysis II: Evaluating the Financials
  • 05When Things Go Wrong: Distress & Warning Signs
  • 06Pitch Assignment & Building a Credit Thesis
  • 07Restructuring Options
  • 08Pitch Week
  • 09Bankruptcy Mechanics
  • 10Liability Management Exercises (Part 1)
  • 11Liability Management Exercises (Part 2)