LF Orig vs. Cap mkts Group Rankings
I have unsuccesfully scoured the WSO website to find a list of all the levfin capital markets vs origination teams across the street - so if anyone can provide a list that would be great. I've looked at mandates online and it still isn't clear place to place.
Here's a good breakdown of both for prospects:
Credit: Soul Sucked ex-LF
Origination: This is the group that will own the relationship with the client from the debt side of things. They will be constantly talking with the client (in addition to work with the industry coverage team member) about what kind of strategy / capital structure is best for the client. This could be a wide range of things, such as for operational needs (revolvers / term loans / regular debt finance) as well as M&A activity. It is up to the team on Origination to analyze, model, and suggest an optimal capital structure for the Client and Company.
For DCM/Syndicate: They are the market pulse for the origination team. Anything related to market rates, volume, investor demand, (basically ALL things market related as seen on CNBC) will come from DCM/Syndicate. Anytime an interest loan is pitched to a client, say the origination banker wants to show a 5% coupon on a high yield bond, will need to be approved by DCM. It is the job of DCM to relay realistic and practical interest rates that the Client can raise debt at. Once in market, that's where syndicate comes in to play, as they speak directly with investors and gauge investor demand.
there's a good overview on lifeandlevfin that goes through the nitty gritty. even their beginner page is pretty insightful
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