Role of Syndicate in Leveraged Finance
Hi, can anyone explain the role of the Syndicate team in LevFin? Is it somewhere between IB and S&T? Thanks!!
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It is somewhere in-between. They don't do too much talking with clients, but they do a lot of talking with S&T. Their job is to be super savvy on the latest developments in the PRIMARY issue market. This is the market where new issues get sold. S&T is dealing with already issued securities (for the most part, they do also help sell new issuances, but they are on the other side of the wall). They also help with syndications of bank loans.
You can talk with syndicate about a new issuance about to go to market, but you can only talk specifics with S&T once the deal has been announced, if that makes sense.
Many thanks! I'm trying to figure out if that is something I would enjoy doing. I'm interested in markets and I don't like to deal with anything accounting related or very granular transaction work such as M&A for example..
I work at a BB with a top 4 (by originations) levfin team and our levfin syndicate desk has one analyst...not exactly many openings.
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