Barclays Deck
Rank a typical leveraged capital structure from safest to riskiest.
Model answer
Top to bottom of the waterfall
- senior secured debt — revolving credit facility and term loans (and any secured bonds), first claim on collateral
- second-lien debt — secured, but behind…
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More from Barclays Deck
- When was Barclays founded, and what were its origins?
- What is the Barclays eagle, and why is it a useful detail to know?
- Walk me through the 2008 Lehman Brothers acquisition — what exactly did Barclays buy, and why does it define the firm's US investment bank?
- Why did Barclays NOT buy Lehman Brothers whole before it filed for bankruptcy — and why did it buy the US business days later?
- How did Barclays get through the 2008 crisis without a UK government bailout, and how should you talk about it?
- What were BZW and Barclays Capital, and why does that history explain the firm's debt DNA?
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