Noob question guys and gal. What is the difference between
Leveraged Finance vs DCM
Leveraged finance is primarily deals with high yield debt. The actual work they do can very from firm to firm. Juniors do more modeling, memos, materials and some client work. The group is can be 's, dividend recaps, levaraged loans, and high yield bond deals.
Debt capital market teams provide advice on raising debt for acquisitions, refinancing of existing debt or restructuring existing debt. They work more closely with desks and deal in investment grade debt.
LevFin = High Yield
DCM = Investment Grade