Building a debt waterfall - Financial Modeling World Cup challenge from July 2021

This is a video walkthrough of a Debt Waterfall problem from the Financial Modeling World Cup (this appeared in the July 2021 round). It's also a topic that's due to appear in the first round of the new season this weekend, so maybe it will help you get ready... 00:00 Introduction 02:50 Case description 03:57 Model setup 5:29 Revenue modeling 10:10 Interest rate calculation (interpolating between given values) 15:57 Modeling the senior debt with target DSCR 22:02 Modeling the subordinated debt 32:29 Modeling the revolver 34:20 Cash flow waterfall 47:41 Cash flows to equity and IRR calculation 52:01 Conclusion You can buy the case materials (including the questions, instructions, Excel file with assumptions, and a worked solution) for $10 from the FMWC here: https://www.fmworldcup.com/product/st... (To be clear, I don't get commission or anything like that for referring you, and you don't need to buy the case to watch the video) Waterfall icon from the noun project: https://thenounproject.com/icon/water...