6 months starting January 2020
Within BNP Paribas’ CIB division, Debt Markets gathers a group of 100+ loan (structured and
vanilla) and bond (high grade and high yield) originators located in 2 main hubs, London and
Paris, covering the bank’s core clients in Europe across all economic sectors.
Within Debt Markets, the Corporate acquisition finance (CAF) specialists’ mission is to
originate, structure and document syndicated acquisition financing and other structured
loans (post‐IPO financing, financing of minority buy‐backs…) granted to large (CAC 40‐like)
and midsize corporates across Europe, either in the investment grade (IG) or sub‐IG space.
Similarly, in the sub IG space, our Leverage corporate specialists originate, structure and
document high yield (HY) bonds and term loan B (TLB) –based financing solutions for
midsize corporates across Europe.
Both the CAF and HY / TLB teams work in close co‐operation with the various Coverage
teams across Europe and other teams of the bank, either within Debt Markets or elsewhere
(Corporate Finance, ECM, Real Estate Financing, sector experts, in‐house legal counsels,
Global Markets’ Loan & HY Syndicate etc).
Context and stakes of the internship / apprenticeship: provide a full operational support to
the CAF and HY / TLB teams in Paris and London.
As a full member of the team, working closely with analysts, associates, VPs and directors
and with the benefit of an intensive on‐the‐job technical and professional training, key
operational responsibilities of the Trainee / Apprentice include:
‐ Marketing activity: prepare client pitches (simulation of acquisitions), ie summarize buyer and target activity and financial profile, set up financial models (including rating
adjustments) reflecting various acquisition scenarios with a view to structuring a full‐fledged
financing solution (associating products across the whole equity / convertibles / hybrid /
senior bond and loan product spectrum) ;
‐ Credit process: prepare credit memos covering financial analysis, financial modeling, sector
and strategic analysis... ;
‐ Leverage / HY: draw up market updates and perform relative value analysis, including
selection of comparables from both a credit and market perspective, prepare rating and
‐ Light portfolio and reporting management.
In a nutshell, a truly operational and rewarding internship / apprenticeship in a motivating
environment with a strong team spirit, ideal to develop good analytical skills in financial
modeling and credit analysis across a wide range of economic sectors and set the basis of a
solid culture in structured debt products in an M&A context, thanks to an involvement in
strategic transactions for the bank’s key French Corporate clients.
- Business or engineering schools / universities
- Familiar with financial analysis and modeling
- Analytical skills
- Team player
- Keen to take responsibilities
- Fluent in French and English (orally and in writing)
- Ms Office (Word, Excel, PowerPoint…)