Interested in Lev Fin - Preparation?

To prepare for a role in Leveraged Finance (Lev Fin), here are some highly recommended resources and strategies based on the most helpful WSO content:

1. Books and Guides:

   • Pragmatist Guide to Leveraged Finance: This is often referred to as the "Bible for Lev Fin" and is highly recommended for understanding the fundamentals.
   • Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions by Rosenbaum and Pearl: Focus on the LBO chapters to get a solid grasp of leveraged buyouts, a key area in Lev Fin.

2. Key Skills to Develop:

   • Credit Agreements and Covenant Review: Familiarize yourself with credit agreements and covenant structures, as these are critical in Lev Fin.
   • Excel Modeling: While some Lev Fin groups (e.g., JPM) may not focus heavily on modeling, others (e.g., BAML, CS) are more modeling-intensive. Consider taking financial modeling courses to sharpen your skills.
   • High-Yield Bonds and Leveraged Loans: Study these products as they are central to Lev Fin transactions.

3. Online Resources:

   • LCD News: Stay updated on leveraged finance market trends and deal activity.
   • WSO Financial Modeling Courses: These include lessons on financial statement modeling, DCF, M&A, LBO, and more. They also provide templates to practice.

4. Practical Preparation:

   • Read about recent deals and trends in leveraged finance to understand the market dynamics.
   • Practice reviewing and analyzing case studies related to LBOs, acquisition financings, and recapitalizations.

5. Networking and Insights:

   • Engage with professionals in Lev Fin through LinkedIn or alumni networks to gain insights into the group’s culture and expectations.
   • Explore WSO forums for Q&A threads and discussions about Lev Fin roles at different firms.

By focusing on these resources and strategies, you'll be well-prepared to excel in your upcoming role. Good luck!

Sources: JPM Lev Fin vs. BAML Lev Fin, Credit Suisse Lev Fin Origination & Restructuring (LFO&R), LevFin preparation for virtual internship, Joining LevFin and FSG at this point in the cycle