2 questions reported in Anchorage interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
Questions
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Hard
Model builds
Built in the spreadsheet grid
Recovery analysis, capital structure relative value and covenant leakage. 1 question
Credit hedge fund interviews test whether you can think across the whole structure.
A company's bonds trade at 70 cents while the equity still has a $2bn market cap. Is there a trade? Walk me through the analysis.
Deal break risk, spread maths, regulatory timelines and downside to unaffected. 1 question
A classic structural inefficiency that event-driven funds return to repeatedly.
A company emerges from Chapter 11 and its new equity begins trading. Why is this often mispriced, and what do you analyse?
Write your answer, get it graded on technical accuracy, completeness and communication, and see exactly which mechanic you missed.
Company tags reflect where a question type is commonly reported in interviews. They are not sourced from, endorsed by, or affiliated with Anchorage.