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Bank Debt Portfolio Group, Associate/Vice President
Goldman Sachs
New York, NY, United States
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The Bank Debt Portfolio Group (“BDPG”) presents a unique opportunity to work with a variety of different clients and with many groups within Goldman Sachs. BDPG is a joint venture between Leveraged Finance (part of the Financing Group within the Investment Banking Division) and the Risk Department. This is a front line, client facing position working with both investment banking and sales and trading clients.
The Bank Debt Portfolio Group is responsible for the ongoing management of non-investment-grade loans arranged and/or agented by Goldman Sachs in several respects: (1) managing the borrower relationship, (2) structuring and executing amendments, waivers, or extensions of loans on behalf of borrowers, (3) managing the lender syndicate (i.e. fielding borrower/industry questions, arranging lender meetings, etc.), (4) identifying other business opportunities (i.e. new financings, derivatives, etc.), (5) supporting sales and trading activities.
In addition to the ongoing management and activities of loans arranged by Goldman Sachs, BDPG also engages with the firm’s other clients on advisory assignments related to structuring and executing loan modifications. In such assignments, BDPG works in conjunction with leveraged finance, restructuring and/or investment banking to advise and advocate for clients as they negotiate the terms of a loan amendment, waiver or extension.
Members of the BDPG team have the opportunity to work with various constituencies: (1) externally: management teams (CEO, CFO, Treasurer), financial sponsors (i.e. private equity firms), lenders (including banks, institutional investors and hedge funds), and external legal counsel and (2) internally: leveraged finance, restructuring, investment banking, capital markets, sales and trading and credit risk management & advisory. The global loan business is a strategically important and growing part of Goldman Sachs’ business.
Portfolio Team Responsibilities
• Manage relationships with company management, private equity sponsors and lenders (banks, institutional investors, hedge funds, etc.)
• Structure and execute amendments, waivers, forbearances and loan extensions (process involves marketing with investors, creating rating agency
presentations, lender presentations, internal sales memorandums; assisting internal and external legal counsel with documentation)
• Work with various other teams within Goldman Sachs to deliver multi-pronged strategic and financing solutions for clients
• Review and analyze portfolio company performance and conduct credit analysis. Coordinate and dialogue with bank loan sales and trading and bank loan investors about company performance and amendment requests
• Manage workouts and restructurings of distressed portfolio companies
Basic Qualifications
• Excellent interpersonal and communication skills; the ability to clearly articulate ideas
• Strong analytical and organizational skills
• Highly motivated and adaptable; the ability to work on a team of diverse individuals
• Proactive; the ability to respond creatively and quickly in a fast-paced, high-pressure, changing environment
• Accurate and detail-oriented with sound judgment and integrity
• Keen interest in financial markets, specifically in leveraged finance