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PLEASE HELP WITH: State of High-Yield Bond market / Lev Fin / League Tables
Hello everyone, I'm interested in the state of the High-Yield Bond Market. I know that in the 80s high-yield bonds were used to finance large LBOs and that there was a few boom and busts. Are high-yield bonds still commonly used to finance LBOs? If so, does anyone have any idea on the percentage of...
DCM and LevFin in Canada
Hi guys, I'm really interested in Debt Capital Markets and Leveraged Finance in Canada and I was wondering if you guys could give any insight about it. How big are the teams for each, comp, exit ops, etc? I assume mostly the Big5 banks have teams in Canada, or do BBs in Canada do too? And lastly,...
Made it to a Bulge Bracket Bank
Great news. I finally landed a spot in DCM for the leveraged finance team of a very prestigious BB on the street. I literally started from the bottom, working my way up, and have been working at a mid-size to small boutique firm for the past year and a half. My old firm was super short on staff, so...
CIT -- How much better since bankruptcy?
I have a good shot at an opening at CIT within their Tech underwriting Lev Fin group. Most of what is written about them is 4+ years old on here. Anyone have an idea of how CIT has re-positioned themselves since crisis or even 3 years ago? Like are they "shit", as one monkey divulged on an old 13'...
Nomura IBD vs BNP Acquisition Finance
Nomura IBD (mainly M&A and LevFin) or BNP Paribas (Acquisition Finance)? Both are off cycle internships in Europe. I feel the personal fit at both banks is good. The BNP team deals only with corporate clients (PE is handled by another team), however, they offered me to join the M&A team for one...
CASH FLOW MODELING | Lev Fin | Help Needed
Dear all, I will be sitting a Cash Modelling test later this week at a BB Lev Fin team. I have been trying to find out as much as possible about how such a model looks like and what are the main assumption included, however, I have been unsuccessful so far. It seems to be different from the standard...
Golub Capital
Thoughts on lev fin on Golub, CIT and Antares? I know MM , but is it a good spot to start out at? Comp, exit opps etc
Top MM, Lower BB Lev Fin Buy-Side Placement...
Curious to know about the differences in placement from the leveraged Finance groups across PE / HF shops... Specifically: Jefferies HSBC RBC Wells
Credit Analyst -> Lev Fin
2nd year Credit Analyst for GE Capital type large undewriter looking to get into any Lev Fin group? Other than networking, anything I should be preparing for? Advice?
debt origination vs leveraged finance
Was wondering if anyone knows if there is a difference between debt origination and leveraged finance. Is debt origination synonymous with LevFin ? or is it more dcm
Job Hopping Open Debate
All, First post on here, but have been reading and using the info for years. Thanks in advance for any response you might have. Essentially I'm wondering when jumping ship too frequently is a problem. Started in a rotational program in Markets at a BB and enjoyed the people, not so much the...
Leveraged/Sponsor Finance Exit Opportunties
I wanted to ask a question on what the exit opportunities are like for someone who spends time as an analyst and maybe even associate in leveraged/sponsor finance. Specifically, it would be good to know what some exit opps are at some of the leading mid market players (i.e. GE/Antares). In your...
Leveraged Finance/Bank Debt back to buyside equity research
How difficult is it to go back to equity research on the buyside assuming you have a couple years of experience if you take a job with a bank debt/leveraged loan investing place?
Morgan Stanley Lev Fin vs. Project Finance
Hey guys, I got an offer (SA) for Morgan Stanley's Global Capital Markets division, as they separate it from traditional investment banking. It's made up of 5 parts--ECM, DCM , Clients Solutions, Lev Fin and Project Finance. I want to do a great job this summer and try and move into actual IB ,...
Is it possible to have Corporate Finance career in Madrid?
hey guys I would like to know if it's possible to have a career in corporate finance in Madrid when you're a foreigner? The reason I'm asking is cause my wife's employer has offered her something there and so I'd like to assess whether it could make sense I speak fluent Spanish but I hear a lot that...
LevFin Groups in SF/LA
Can anyone shed some light on any leveraged finance groups that sit on the West Coast? I'm only aware of WF in SF but looking to see if any other MM / BB LevFin groups are in CA as well.
Trying to understand how non investment grade debt works on an investment grade company
I assume non investment grade debt on an investment grade company trades higher than high grade stuff. I know that different tranches will trade according to the jump in leverage ratios, say between senior bank debt leverage and the leverage on the subordinated tranche. But if two below investment...
Commercial Banking--> Leveraged Finance
Hello monkeys. I've accepted a job as a commercial banking analyst at a MM firm upon graduation with hopes of eventually breaking into lev. fin down the road, likely post-MBA. Is this is a feasible career path and what would be the best way to approach? Without giving too much away the bank I'm...
State of Leveraged Finance
Does anyone have any commentary on the state of leveraged finance groups at various banks? The high yield and leveraged loan markets are obviously quite poor at the moment, but how has this impacted LevFin groups thus far? Have banks implemented a hiring freeze? \\
Sell-side Credit Risk to Buy-side Credit
Any monkeys have experience transitioning over to a buy-side credit fund as a credit risk analyst at an investment bank? If so, what hurdles did you have to overcome and what did you highlight on your resume and during the interview?
Good or Bad Time to Join Leveraged Finance?
Hi All, Do you think there are risks joining a LevFin team as an Analyst 1 in the current climate - e.g. interest rate rises, volatility - for MM shop in London? I have seen some deals pulled and low issuance etc, but also understand that as leveraged loans are floating rate that they limit duration...
LevFin London
Looking at a LevFin opportunity in London vs. the US. Wondering how different banks stack up in London? Additionally, any insight as to how the experience differs from being at a US bank (transaction size, complexity, quantity of transactions)? Currently at a top 4 US LevFin bank and trying to...
Citizens Bank Leveraged Finance
Anyone have any insight on the lev fin group at Citizens Bank? I'm curious as to how the group is structured given that it seems to sit within a commercial bank. Would also be helpful to understand how the detachment from RBS is affecting the group. Thanks in advance.
BB Summer Analyst, Do I go for Lev Fin or a Coverage Group?
Do I go for Leveraged Finance or a Coverage Group if private equity is what I'm interesting in pursuing long term?
Tough Decision- Please Help
Hey guys- I'm currently choosing between these three junior summer internship offers: Morgan Stanley leveraged finance internship, Perella Weinberg advisory internship, and Apollo credit internship. I've been at MS for a couple summers now in a different division and I really like it there (I'm...
How to spin this
I go to a semi target and have gained a strong interest in leveraged finance. This summer I interned at a smaller Asset Management fund out east and would like to pursue something in IB for next summer. Although I got good exposure to the financial industry with my last experience, I do not really...
Lateraling as analyst-Less relevant group with lots of deal flow vs relevant group with none??
Recently finished as a summer analyst in a LevFin group of a large non-BB bank (BMO, WFS, RBC) in their east coast office. Not wanting to risk ending up with nothing, I accepted a full time offer to comply with exploding offer deadline. Problem is, I don't want to do debt long term and I don't find...
Smart LevFin/Sponsors Questions to Ask?
I have a superday with a LevFin group and want to know smart questions to ask for the end of my interview. Does anyone have suggestions on what types of questions I should ask? Appreciate the commentary/help
If you had 2 weeks to prepare for a Leveraged Finance interview, how would you go about it?
I have an interview in about 2 weeks for an analyst position. I've done the LBO modeling course from Wall Street Prep and know how the process works. Assuming that's all I know, any advice on how I can go about prepping? Any advice will help greatly. Thanks
Internship in leveraged finance vs full time job in trading
I have just completed an MSc Finance degree at a top 3 school in the UK and have been offered an 11 month internship in leveraged finance at a tier 2 bank. I also have a final round interview for a full-time equity trading role at another tier 2 bank where I used to work in middle office. I am...
Credit risk Leveraged Finance Group Buldge Bracket
Does anyone have info about the leveraged finance group within credit risk at a BB firm( GS / UBS / JPM ). Is it deal based and does the c/r group work with the IBD group on deals , i.e the c/r lev finance team would focus on structuring debt and rating advisory? Or is it different like, if the firm...
quest
Non-Target, interested in Leveraged Finance
Hi! I've been following a few posts on WSO for a while now, and figured I'd try my hand and see if I can garner some good advice from everyone on here. I'm a rising second-year student at a huge, "non-target", state university. I'm pretty interested in leveraged finance (my interests may change as I...
Non Target, Looking for advice into Leveraged Finance
Hi! I've been following a few posts on WSO for a while now, and figured I'd try my hand and see if I can garner some good advice from everyone on here. I'm a rising second-year student at a huge, "non-target", state university. I'm pretty interested in leveraged finance (my interests may change as I...
Leveraged finance / investing in private debt markets
Hi WSO , I have interviews coming up for a position in a private debt fund - as I have never worked in DCM / LevFin before, I am basically starting my preparation from scratch. Would anyone have any valuable insights and suggestions into how to best prepare? Any current market trends / sources to...
Interested in Leveraged Finance and TMT
Hi Guys, I'm a sophomore at a non target and have been reading about IB for some time. I'm interested in Leveraged Finance and TMT (I know they are different but I like them both). I was wondering if you could give me some good resources where I can get news, recent deals in these 2 groups (other...
Switching from IBD Coverage Group to LevFin
Suppose one doesn't begin his/her IB career in LevFin , and lands in a coverage group at a BB . Is it possible to eventually switch into levfin 1-2 years down the road? Does anyone have any insight? Or, is levfin such a niche product group that as analysts/associates leave, teams usually only hire...
LevFin to Equity L/S fund
I am interested in exiting LevFin to a HF and am wondering if I am limited to only debt funds? Obviously debt is my specialty, but I think if you could analyze a company from a debt perspective then you can analyze it from an equity perspective. Also, it does help to understand the capital structure...
Career Advice Needed - 30 years old and feel like window is closing
Dear fellow monkeys, Long time lurker, first time poster here. A bit about myself, I have a very non-conventional background - I graduated from university abroad in my home country and started out in a local leasing firm as a credit officer analysing leasing credits for SME companies.
Credit Trading to Leveraged Finance IBD
Wondering if this move is doable or if it is common in the industry. How transferable is the skill set? Feedback appreciated.
Preparation for leveraged finance internship
Hi everybody. I just got offered an internship in leveraged finance-loan syndication. I was wondering if you knew any books or things I could do to lessen the steep learning curve that probably awaits me. Thanks in advance!
MM Lev Fin Coverage Group Vs. DCM
Hello everyone, I have a decision to make to join one of two relatively new groups that have just started at my Bank. I currently work at a non- BB that has a growing presence in the U.S. market as a credit risk analyst for the corporate banking group. I have been offered an associate position for a...
credit suisse leveraged finance origination & restructuring
Does anyone know about the reputation of this group? How much bankruptcy/restructuring do they actually do?
Leveraged Finance League Tables
Anyone know where to find the current lev fin league tables? I've looked all over online and I cant find anything that seems accurate. Every website has a pretty different list.
Webinar Live! - Leveraged Loans Overview and Discussion
Tonight, February 25th, at 8:00pm ET, Wall Street Mentors will be hosting a webinar focused on leveraged loans, a key component of private equity financing. The webinar will be hosted by WSO mentor Joe, an industry veteran with experience in private equity coverage, leveraged finance, and investing....
Leveraged Loan Documentation / Negotiated Items
Hi All, I'm new to the forums and have just recently started as an analyst in a leveraged finance group. As the title indicates, I'm interested in ways to become familiar with loan documentation, specifically industry standard negotiated points including restricted payments, available amount...
LevFin vs Restructuring vs HY Credit Research for Distressed Debt HF
For someone looking to work at a DD HF , which is the best career path in terms of: - Hours - Learning opportunities - Ease of transition into HF
Take DCM Role to get into banking? Move to Lev Fin?
What is everyone's thoughts on taking a DCM role at a BB and then later trying to get into Lev Fin? Is this smart/doable? I'm more interested in the debt/credit side of deals and less so any specific industry.
Fifth Street BDC
Hey guys, Wondering if anyone has any experience/knowledge of Fifth Street. I'm not sure what to expect for a BDC interview (modeling test? etc). Any info/suggestions are much appreciated.
Transaction experience in London – What are my chances?
Dear fellow monkeys. I would like to ask your advice to hopefully get some clarity around my chances of making a career transition to London, where I can get transaction and valuation experience.
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