6-month Internship starting in January 2020.
Within BNP Paribas’ CIB division, the Debt market 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, as well as in Frankfurt, Brussels, Milan, Madrid and Lisbon, covering the bank’s core clients in Europe across all economic sectors. The Debt Market team regroups DCM, Loan Syndication, Acquisition and Leveraged finance teams.
Within Debt Market sits a transversal team that is organized with a sector focus on Leveraged Finance - Media & Telecoms rather than a geographical focus, and hence covers all of EMEA. The Trainee / Apprentice will be an integral part of the Leveraged Finance Media & telecom team which is organized by project, and in which the intern will be able to participate from end-to-end to all steps of the transactions. The scope of the team includes: origination, structuration, execution, and post-closing of syndicated financing and high-yield bonds granted to corporates for acquisitions, spin-offs, IPO… (“event-driven” financing), or more generally structured financing for corporates, primarily in the media & telecom space, but occasionally on other sector, depending on deal flow.
Of note, BNP Paribas regularly ranks #1 in the media & telecom financing league tables (TMT Financing Bank of the Year 2018, #1 Bookrunner for Media & Telecom loans 2018)
A large spectrum of EMEA clients is covered by the Paris team, ranging from European large caps and midcaps (with a minimum threshold of set at €200m of new debt), mostly in the non-investment grade space, requiring ability to deal with broad variety of topics and products, while bringing some sector expertise.
As a full member of the team, working closely with 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 modelling, 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 investor presentations ;
- 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 modelling 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 Media & Telecom clients.
- Business or engineering schools / universities
- Prior experience in investment banking is appreciated
- Familiar with financial analysis and modelling
- Analytical and understanding of clients business models
- Hard-working in a dynamic yet friendly environment
- Reliable and keen to take responsibilities
- Fluent in French and English (orally and in writing)