40. Distressed Debt and Restructuring 101: Caesars Palace Coup (Part II)

In Part II of this three-part case study of Sujeet Indap and Max Frumes' book Caesars Palace Coup, we pick up in 2008 after Apollo and TPG's $30bn Leveraged Buyout of Caesars closed.  With the economy immediately taking a nosedive, Apollo spearheaded a series of restructurings to stave off bankruptcy.  These restructurings ranged from more vanilla "distress-for-control" maneuvers to extremely questionable, cloak-and-dagger asset transfers and severing of guarantees.  These ultimately culminated in a showdown between the titans of Private Equity and the creditors they'd effectively superseded through expert manipulation of Caesars' legal and capital structures. To book a 1-on-1 consult with Kristen and Jen, please click here:  http://intro.co/JenniferSaarbachFor 20% off best-in-class financial prep courses from Financeable, use code thewallstreetskinny here:  http://finance-able.comFollow us on Instagram and Tik Tok at @thewallstreetskinnyhttps://www.instagram.com/thewallstreetskinny/