I was just wondering what the average amount of tombstones an an analyst will have at a reputable bank after year 1 and year 1+2. Is there are also a discrepancy between types of deals (M&A, IPO, RTO) etc..
Lev fin - 6-8 weeks (~2 months) per deal
-from being mandated (commitment letter date) to closing (credit agreement closing date)
Max = 12m / 2
Max = 6
Subtract 2 weeks in August and Christmas-NYE, and you have
max = 5
In reality - like 4
To illustrate timeline:
Lev fin deals take 2 months bc once Mandated
4 weeks to create marketing materials
- create 45 Pg Lender Presentation
- create 50 page CIM (same presentation in Word, with more writing involved
Launch bank meeting
2 weeks - lenders to due credit work--Commitments due
1 week - negotiate final changes to credit agreement
= 7 weeks (best case scenario, no delays)
Eum ab illo accusantium sed ducimus et est. Numquam voluptatum iure voluptas velit sint non. Earum officiis qui eos magnam corporis accusamus sequi. Explicabo quis magnam eum quibusdam. Asperiores veniam voluptatem alias est necessitatibus vel officia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
Sorry, you need to login or sign up in order to vote. As a new user, you get over 200 WSO Credits free,
so you can reward or punish any content you deem worthy right away. See you on the other side!
My bank only deal tombstones for sell side m&a
If you're on a product team it may be a LOT. On a industry team it could be closer to 5 first. Some more, some less, luck of the draw...
Lev fin - 6-8 weeks (~2 months) per deal -from being mandated (commitment letter date) to closing (credit agreement closing date) Max = 12m / 2 Max = 6 Subtract 2 weeks in August and Christmas-NYE, and you have max = 5 In reality - like 4
To illustrate timeline:
Lev fin deals take 2 months bc once Mandated 4 weeks to create marketing materials - create 45 Pg Lender Presentation - create 50 page CIM (same presentation in Word, with more writing involved Launch bank meeting 2 weeks - lenders to due credit work--Commitments due 1 week - negotiate final changes to credit agreement = 7 weeks (best case scenario, no delays)
Eum ab illo accusantium sed ducimus et est. Numquam voluptatum iure voluptas velit sint non. Earum officiis qui eos magnam corporis accusamus sequi. Explicabo quis magnam eum quibusdam. Asperiores veniam voluptatem alias est necessitatibus vel officia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...