What is the process for a sell-side mandate?
When bankers refer to sell-side mandate, is it just the sell-side M&A mandate or does that encompass a broader set of transactions?
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Sell-side meaning you are working on behalf of a seller, could be for an M&A transaction, debt offering, equity raise, strategic alternatives etc.
For example, XYZ company wants to sell themselves (or they have an offer from a buyer) so they hire an investment bank to help them evaluate the offer. If a company raises debt or equity, then they will hire an investment bank. These are sellside mandates.
Buyside mandates are the opposite, when you work on behalf of the buyside. For example, advising a company or PE firm when they are evaluating the acquisition of a company.
How much is the process from winning the mandate to LOI / due diligence phase different for debt/equity raise vs M&A? I only know of the M&A process so would appreciate any color
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