Confer with clients to restructure debt, refinance debt, or raise new debt.

I have the client's capital structure, lender offers, and the proposed term sheet. Send the restructuring proposal to Claire in corporate finance and to the CEO for approval, in that order, with a Wednesday noon deadline — but first confirm the covenant schedule and that the new instrument pricing matches the debt model.

Before I take the refinancing proposal to the credit committee, make it straightforward to say yes: surface the net present value savings at the top, make the new payment profile visible month-by-month for the first 24 months, flag any covenant step-ups or events of default, and highlight what the board would need to approve.

In today's call a key creditor said they will not accept the proposed 20% haircut; management expects me to find alternatives before tomorrow's lender vote. I cannot tell how much runway we have and whether convertible or stretched maturities will placate them. What's the most likely workable alternative and the quickest way to show its impact to the lenders?

Across multiple restructuring deals we repeatedly lose negotiation leverage over covenant drafting late in syndication, leading to higher pricing and slower closes. Are we failing in how we draft initial covenants, package covenant concessions, or in timing our covenant asks? What single change in how we present covenants would improve creditor acceptance?