Been reading up on Lev Fin using the Vault Guide, and wanted to better understand the Distribution Desk. Basically, sounds like they "build the book", meaning on a leveraged loan deal, they help syndicate it out to the relationship banks for the issuer, plus any other lenders who might be interested.
From what I understand, it's very "sales-y"; the question is, what would this type of role prepare you for in terms of exit opps? While you'd understand the "market" for loans, and theoretically understand the product very well, you miss out on the capital structure analysis, credit analysis, etc. that comes with a more traditional analyst role in lev fin. On the flip side, you have less down time and likely work closer to market hours...
I guess ultimately my question is, what are the exit opps? My sense is you would still lack the fundamental analysis skillset desired by a credit-focused buyside shop...
Appreciate any insight from those who have interned or worked in Lev Fin across the Street- thanks!
