Private Debt

Credit analysis, covenant structures, and lending mechanics. For careers in direct lending and credit funds.

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Modules

165

Questions

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Modules

Direct Lending Fundamentals

31 questions

Understand what private debt and direct lending are, typical borrower profiles, instruments, and why sponsors use this form of financing.

12 easy13 medium6 hard

Credit Analysis and Cash Flow

33 questions

Build core credit analysis skills for private debt: leverage and coverage ratios, free cash flow, and downside case thinking.

12 easy14 medium7 hard

Covenant Structures

31 questions

Learn how maintenance and incurrence covenants work, what typical financial covenants look like, and how lenders respond to covenant pressure.

12 easy13 medium6 hard

Deal Structuring and Security Packages

26 questions

Understand capital structure design, loan to value, security packages, and terms that drive lender downside protection and return.

10 easy11 medium5 hard

Distressed and Restructuring Basics

25 questions

Learn what happens when credits deteriorate, how recovery is determined, and which tools are used in restructurings.

9 easy10 medium6 hard

Credit Investment Cases

19 questions

Apply private debt thinking in short case style questions that combine business risk, structure, covenants, and sponsor behaviour.

7 medium7 hard5 easy

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What to Expect in Private Debt Interviews

Private debt interviews focus on credit analysis, lending fundamentals, and understanding risk in debt investments.

Credit analysis: Evaluating borrower creditworthiness and repayment capacity
Debt structures: Senior, mezzanine, unitranche, and hybrid instruments
Covenant analysis: Understanding and structuring protective covenants
Recovery analysis: What happens in default, recovery rates, waterfall
Market knowledge: Current lending environment, spreads, competition
Case studies: Analyzing a loan opportunity and structuring terms

Private Debt Interview Guides

Private Debt Interview Questions

Frequently Asked Questions

What is asked in Private Debt interviews?

Private debt interviews cover credit analysis, debt structures, covenant analysis, and lending fundamentals. You'll discuss how to evaluate borrower creditworthiness, different debt instruments, and how to structure loans. Case studies often involve analyzing a loan opportunity.

How do I prepare for Private Debt interviews?

Focus on credit analysis frameworks, understand different debt structures (senior, mezzanine, unitranche), learn about covenants and how they protect lenders, and study recovery analysis. Our platform covers all key credit concepts with practice questions.