Second-hand source but here’s what I think I know:

The model is an lbo / credit paydown model. LevFin is coming into financings for sponsor transactions (LBOs, recaps, refis, etc.)

Hairy dealwork just means cuspy credits or highly leveraged transactions and unique situations. As an analyst your work in the model probably doesn’t change much, it’s more a function of what a non-bank arranger can choose to touch and get through committee versus a BB.

There are several books on leveraged finance you could read in your down time but things like going to ratings, syndication and other processes you’ll learn on the job. A PE prep course would probably also have the high level material you want and get you modeling practice. Even though its meant for Rx Moyer could be exhaustive on these topics as well.

 

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