Citigroup Debt Capital Markets - Asset Based and Transitional Finance Senior Analyst in New York, New York
Group Overview: Asset Based & Transitional Finance (“ABTF”) is a debt capital markets group within the Banking, Capital Markets and Advisory division. ABTF is responsible for originating, structuring and syndicating corporate finance transactions for non-investment grade companies and specializes in debt financings for restructurings / turnarounds, bankruptcies, leveraged / management buyouts and asset based loans (“ABL”). ABTF professionals directly advise the senior management of Citi’s corporate clients on debt financing and capital structure solutions. ABTF further serves these clients by committing capital to the financing transactions. ABTF directly manages the loan portfolio comprised of these capital commitments.
Nature of Business:
ABLs consist of highly structured secured revolving lines of credit and term loans for non-investment grade clients with availability governed by the liquidation value of the assets securing the facilities
These facilities meet an array of corporate finance needs including general corporate purposes, cyclical, industrial or seasonal downturns, acquisitions, and recapitalizations
ABLs pair easily with funded debt such as high yield bonds and term loans, and typically sit at the top of a company’s capital structure
The transitional finance side of the business focuses on capital structure solutions for clients in transition, e.g. rescue finance, debtor-in-possession, exit financing
The group’s revenue stream is generated through fees earned by structuring / arranging financing transactions for its clients, upfront fees paid on Citi’s loan commitments, and interest paid on the group’s loan portfolio
The team works closely with other Capital Markets businesses and Global Banking to leverage Citi resources and generate new business opportunities
Analyst Responsibilities and Opportunities:
Prepare marketing and discussion materials for client meetings and internal discussions
Aid in the development of various capital structure ideas related to non-investment grade loan and / or restructuring financings
Research and analyze precedent transactions for trends and changes in the ABL market
Participate in legal, collateral, and business due diligence for potential new transactions
Provide updated credit analyses for a variety of asset based loans held in the loan portfolio
Coordinate the deal execution process
Work closely with partners in global banking, risk, legal, and other CMO desks
Directly interact with clients’ senior management teams as well as investors, private equity sponsors, and legal and restructuring advisers
Learn about corporate credit, capital structure, loan markets, financing solutions, and the bankruptcy process
Strong fundamental financial and credit analysis utilizing a full compliment of information sources including public filings, equity and fixed income research, Bloomberg, and rating agency reports
Ability to think critically and summarize financial trends in credit write-ups
Interest in the non-investment grade debt capital markets
1-2 years of experience in corporate banking, investment banking, or capital markets
BA in Finance or Accounting
Proficient in Excel and PowerPoint
Formal credit training a plus
Job Family Group:
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