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Financial Modeling Essentials

Leveraged Buyouts

Debt structures are very common in financial modeling and are required learning for analysts. In this course, you’ll learn how to use different forms of debt to complete a Leveraged Buyout.

Advanced        13 Lessons        120 Minutes        CPD Credits
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About This Course

Using debt to acquire a company is a common practice in the business world. In this course, you’ll learn how to assess the risks and benefits of this, by exploring how a Leveraged Buyout (LBO) can help.

Across 13 lessons, you’ll learn how to build, run and manipulate a LBO model in Excel, using an acquisition case study as an application example.

By the end of the course, you should have a clear understanding of the steps involved in an LBO and feel confident in helping your company with such an acquisition.

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Learning Outcomes

  • Build a Leveraged Buyout model in Excel
  • Define the assumptions of an LBO transaction
  • Understand the difference between secured and unsecured debt
  • Create a Sources and Uses table in Excel
  • Create a debt repayment schedule
  • Analyze the impact of adjusting transaction assumptions
  • Calculate debt service metrics
  • Calculate the returns from an LBO


1. What is a Leveraged Buyout (LBO)?
2. How to Build a LBO Model
3. Transaction Assumptions Part 1
4. Transaction Assumptions Part 2
5. Secured Debt
6. Unsecured Debt

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7. Entering Our Loan Structure in Excel
8. Creating the Debt Schedule
9. Calculating the Cash Balance
10. Amending Our Transaction Assumptions
11. Key Metrics for Covenants
12. Estimating Our Returns from the LBO
13. Conclusions and Improvements
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