WHAT IS THE OPPORTUNITY?
On sell-side loan syndications team primarily responsible for structuring and executing leveraged finance, middle market corporate, and franchise transactions.
The Syndications group at City National Bank resides within the Specialty Banking division and focuses on lead-agented, active book runner roles. The group works with relationship management teams to ensure the marketability of transactions, primarily structure and pricing. Members of the syndicate team maintain an active dialogue with the market provide current updates to both internal and external clients, and support pitching activities in pursuit of new financing opportunities. Structure and pricing guidance is regularly supported by an analysis of comparable financings (comps) and market sounding. The group is further responsible for developing a syndication strategy in support of the credit approval process.
Additionally, the group is responsible for the preparation of marketing material such as Confidential Information Memoranda ("CIM"), lender presentations, term sheets, and mandate letters. These documents which provide an overview of the company, the proposed facilities and the investment considerations are used by potential lenders/investors to analyze the credit and seek their internal approvals to commit to the financing. The group also maintains administrative agent responsibilities on a post-closing basis.
Specialty Banking Division
As a member of the Specialty Banking group, you will help to bring extensive industry knowledge to commercial clients in specialized segments and deliver an unmatched level of service. Specialty Banking is comprised of several teams of experienced bankers with niche market knowledge and niche financial proficiency, promoting solutions rather than products.
WHAT WILL YOU DO?
- Work with Relationship Managers to identify prospective clients for syndicated transactions.
- Help determine optimal capital structure for client and jointly pitch proper debt solutions and other ancillary banking and capital markets products.
- Coverage units may include Structured Finance, Franchise Finance, Commercial Banking, Entertainment, and Real Estate.
- Expertise in two or more of these areas is strongly preferred.
- Successfully negotiate, structure, and arrange CNB-Agented, multi-bank, revolving credit and term loan facilities that reflect market pricing, covenants, and other terms and conditions.
- Stay apprised of market conditions and trends for various coverage units. Provide market feedback and advisory services on transaction structure and pricing to coverage units, credit, and other internal parties.
- Provide periodic market updates to clients, Relationship Managers, and credit. In addition, conduct specific market testing for prospect transactions prior to launch to accurately assess syndication risk for credit.
- Prepare and present syndications materials such as confidential offering memorandums, term sheets, lender presentations, financial models, and other marketing materials on behalf of clients.
- Be prepared to arrange bank meetings and conference calls with potential lenders and present materials/transaction details.
- Work with clients to select lenders for the bank group and determine commitment allocations.
- Negotiate and review legal documentation such as credit agreements and other ancillary documents with clients (and eventually participating lenders).
- Manage the distribution of work flow on deal teams to maximize efficiency, meet deadlines, etc.
- Act as primary liaison between client and potential lenders during the syndication process and post-closing in an Agency capacity.
- Assist Relationship Managers in the preparation and presentation of internal concept memos credit memorandums for syndicated transactions
- Be prepared to opine on liquidity/salability of transactions, underwriting risks, etc. in credit committee.
- Build and maintain a strong network of prospective syndicate banks, including local and regional banks, and bank loan syndications trading partners.
- Work with Relationship Managers and Underwriters to continue ongoing portfolio management of Agented transactions, including maintaining ongoing Administrative Agency functions such as maintaining data sites, ensuring timely financial reporting, responding to lender information requests/questions, executing of amendments and waivers, organizing annual lender meetings/calls, etc. (i.e. Agency Services).
- Mentor junior staff
- Other responsibilities as required by Group Head or by Head of Capital Markets.
- Utilizes a high degree of creativity and independence in originating, structuring, and arranging large, complex syndicated transactions led by the Bank for existing and new banking relationships.
- Acts as a consultant to clients and a resource to internal coverage units and credit in developing and retaining business. ' Comprehensive knowledge of products and current market terms and conditions across multiple sectors.
- Excellent sales, negotiation, and closing skills. Usually requires over six years of experience.
- Manages the ongoing syndications process, including new client pitches and retention efforts as well as identifying potential lenders and successfully arranging commitments for large, multiple bank credit facilities.
- Develops business opportunities by being active in the community and maintains effective relationships within and among teams, ensuring that lines of communication remain open and clients are serviced at a consistently high level.
WHAT DO YOU NEED TO SUCCEED
- Bachelor's Degree
- Minimum 8 years banking experience
- Minimum 5 years' experience on sell-side in capital markets
- Credit training