Background: ABL at a BB.
As the title says, what type of 'Transaction Experience' should I list on my resume to best spin/highlight my experience if I want to lateral into a IB position or a MM credit fund/PE firm, if possible?
A majority of my time is spent on the portfolio side (working with existing borrowers) executing extensions to their credit facilities when maturity is coming up (are these worth mentioning at all?), simple revolver/term loan upsizes (either for growth/capex expansion reasons, small bolt-on acquisitions (like a few $MM) and sometimes larger 'transformational' deals. I've also been pulled in a few times to screen new deals which typically involves spreading/analysis of co. financials, full credit risk analysis, structuring key terms (I don't actually decide the terms, just discuss with my head underwriter and then I put it all into a memo which discussed with our risk committee) but the few that I've done didn't really go anywhere and were relatively small/simple deals (say, $50MM revolver).
Modeling-wise, we don't build out 3-statements or do anything that complicated. Most 'complicated' modeling I do is probably debt repayment analysis (in a highly leveraged scenario, seeing how much our borrower is capable of paying back over a 7-year timeframe). Aside from that, it's just simple spreading of key income statement and cash flow line items for calculating FCCR, putting together cap tables and sources & uses tables which are fairly simple, and borrowing bases.
Would also be curious to hear what people say about this. Will share transaction experience that I have seen a friend use in this situation though, give me some time to find it.
Have some experience with lender diligence and also curious as to how this would play out for me as well.
Bump. We in this together fam
bump
A friend went from CB to MMIB and his resume discusses "working with the CEO and CFO" regarding the senior debt financing on a few potential acqusitions and buyouts. Also discusses advising the structuring of subordinated seller paper in those cases.
So basically, talk about any deals your bank does to help fund an acquisition. Perhaps any funding your bank does for ESOP's would be applicable too. Otherwise maybe I would talk about deals you worked on with higher leverage.
Thanks for the insight, finbrah. So mainly focus on any deals where we're funding/upsizing the credit facility for an acquisition, small or large? How about an experience where I had to underwrite an extension of an existing facility for a borrower who was divesting a large chunk (>70% of revenues) of its business? Basically, modeling out the pro-forma financials and evaluating whether we'd still like to finance the company based on the pro-forma debt metrics.
Also, if I worked on the revolver piece of a credit facility (say, $700MM) but not the term loan piece ($400MM handled by our lev fin group), would it be wrong to say that I worked on a $1.1B deal? Or is the "deal price" just the purchase price the Company paid for the Target?
I am about as familiar with this as you are, as I am also hoping to hear from someone who has more hands-on experience with this. All I have shared is what someone I know who made the transition from CB -> LMM IB -> LMM PE put on their resume to make that initial jump into LMM IB.
As far as your questions, I can give you advice based on what I think is correct, but as I've stated... I am in the same boat as you, trying to figure out the best way to market these transactions.
I would personally try to focus on deals that most closely resemble anything the investment banker across from me reading the resume might work on. I would say the divestiture transaction would be a good transaction to use. I would also say that you worked on a $1.1B deal, but when discussing it say that you focused primarily on the 700MM revolver.
Again - that's just my .02, but it's probably useless because I'm also here to find similar answers.
Where are all my commercial bankers/CB'ers at? pls chime in; I think general advice on how to go about speaking about these lender transactions/what things to highlight during the interview would be helpful as well.
The easiest way to make that jump is by getting an MBA.
Prefer not to have to pursue an MBA..
Anyone else have examples/insights to share?
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