seen from South Korea
seen from China
seen from Malaysia
seen from Japan
seen from Russia
seen from United States
seen from Japan
seen from United States
seen from China
seen from Iceland
seen from Japan
seen from United Kingdom
seen from United States
seen from Japan
seen from Malaysia
seen from Japan
seen from Denmark
seen from Hong Kong SAR China
seen from Laos
seen from Japan
Leveraged Finance
Leveraged finance
Leveraged finance was established to oversee and expand the role of a bank in the leveraged finance market. Most of the companies use debt to finance operations. By doing so, a company increases its leverage because it can invest in business operations without increasing its equity.
Leveraged finance is funding a company or business unit with more debt than the normal…
View On WordPress
Leveraged Finance at Citigroup
written by Jeff Carroll
Learn how finance senior and Investment Banking Club vice president, Colton Burr, landed an internship at Citigroup as a Leveraged Finance summer analyst.
What were your main responsibilities while at Citigroup?
I spent most of the day on Bloomberg, PowerPoint, and Excel putting together debt trading levels and market updates for our clients. We would show them where their loans and bonds were trading at in relation to their competitors as well as current high-yield market conditions. I was also in charge of putting together weekly high-yield technology and telecom sector reports for our team. Other responsibilities included creating credit comps, case studies, sales force memos, and funds flows.
How was the learning curve during your internship?
Every i-banking internship is going to have a very steep learning curve. You just have to learn as much as you can before the internship and pay attention in your business school classes. The Marriott School did an excellent job in preparing me and I came in much further up the learning curve than other interns from Ivy League schools, which reflected in my reviews as well.
How was the culture at Citigroup?
Culture in specific groups can vary from the culture at the firm. The culture of my group was pretty intense. They expect a lot from you. You need to produce quality work as quickly as possible. They don’t treat you any differently than a first year analyst. They want you to come in and make a significant contribution right away. You always needed to be on your game. Most people were great to work with. We had Beer Friday every week, which was a lot of fun to eat and socialize with the VPs, Directors, and MDs. They were very respectful of my religion and values.
To whom would you recommend this internship?
Anyone who is intense, has high goals, and doesn’t mind pulling 90-plus hour workweeks. Wall Street is an incredible place to start a career. You definitely get more out of it than the banks do from you.
What are the steps to take in order to get this internship?
It definitely is a unique and rigorous process. Start going to all the i-Banking club meetings, reading the Wall Street journal and Investment Banking Vault Guide. Talk to as many bankers as you can to get a feel for the industry. Fly yourself out to NYC, San Francisco, etc. as much as you can to personally meet with bankers as well as with the i-banking club. Get relevant internship experience even if it’s unpaid. I did 2 years of unpaid internships but in the long run it paid off. You’ll definitely want to meet with members of the I-Banking Club to learn more. [Getting this internship] takes a lot of work but is definitely worth it.
