Trending Content - Investment Banking Forum
| +197 | Americas M&A League Table Q2 Updated | 79 | 3h |
| +131 | Restructuring: Anti-climactic Experience | 34 | 1d |
| +102 | IB Net Worth / Savings Check | 49 | 25m |
| +91 | Woman who emptied Knicks trashcan on street then stole it was DEI exec, worked at JPMorgan Chase | 24 | 13h |
| +80 | Stop sleeping on UBS - it’s pretty good | 26 | 2h |
| +52 | 2026 VAULT PRESTIGE RANKINGS | 29 | 1d |
| +39 | AI + Financial Modelling | 12 | 1d |
| +30 | Hardest interview experiences? | 16 | 23h |
| +28 | Summer before college | 17 | 13h |
| +26 | Current State of UBS in North America | 8 | 2d |
Career Resources
Read the LCD leveraged loan primer, really contains everything expected of an SA to know. If you want to seem really advanced, look into different credit agreement structures, different provisions, and how banks are competing/collaborating with private credit (look into unitranche financing).
Interned this summer at a modeling-heavy levfin team, not sure how much of the model does Wells/RBC hold the pen on, but here’s what I’d recommend besides being good at three-statement / LBO modeling:
- Learn how to do cap tables, they should take about an hour but since you’ve never done them before it takes forever, especially when you’re calculating LTMs, digging for prices and new tranches on Bloomberg, creditsight, markit etc….. you can do this in your own time to practice but there’s very little courses available for Levfin specific cap tables. Go on X and look for the Bear Stearn Levfin primer, and go on @Boringbusinesses, he has a primer on cap tables there as well. You can also go on google, go to “advanced search” and type in Lender Presentation, and make sure the file type is in PDF. There will be a bunch of presentations there that levfin teams put together for deals, usually there’s sources & uses and pro forma cap tables around the second or third page. This is also useful to see what type of materials you will need to know, and also have a creative repertoire of slides you can take inspiration from. I would recommend to save some that you like on a folder.
- Debt comps. I could not find a single guide online, but it’s basically like doing a bunch of cap tables but on a comps layout. I wouldn’t worry too much about this, if you can master the cap table you can master this.
- Practice your typing and listening skills. You will be joining tons of back to back due diligence calls with sponsors and lenders, and a lot of it you may not know, so be ready to take super detailed and organized notes. I like typing in the question then putting the answer in bulletpoints in a different color. But yeah be ready to take a ton of notes.
- I like to follow some credit-focused meme pages and newsletters, it keeps you in the loop. High yield harry, junkbond investor, pari passu, 9fin, Octus, etc.
That’s all I can think off at the top of my head, as an intern I would say the work was 40% email, 40% excel, 20% PPT (that was my personal experience, others had much more PPT). Your main deliverables will be:
1. Cap tables
2. Debt comps
3. Sources and uses
Natus nobis assumenda veritatis officiis adipisci laudantium ab. Saepe ut delectus modi autem cumque voluptate doloremque. Nihil ratione id itaque omnis ab eaque deserunt. Ipsam vel earum amet quasi aut. Repellendus adipisci nihil enim officia aliquid nostrum voluptatem.
Tempora suscipit odio explicabo ad sint. Et reiciendis occaecati ut deserunt commodi sint quam. Distinctio porro aut blanditiis inventore quo voluptate velit. Quo omnis distinctio sunt dignissimos aut quis quaerat.
Pariatur officiis id aliquam. Illum quia vel ducimus. Tenetur aut hic atque nulla quia. Doloremque rerum aut consequatur eligendi.
Impedit debitis sed tempore unde aut similique possimus. Dignissimos magni vel impedit autem voluptas error. Placeat aut eveniet occaecati quidem impedit. In repellendus facilis sequi eligendi voluptatem corrupti. Asperiores iure quia quis dolores impedit a.
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...