Look for regional contacts in workout/credit resolution and ABL. ABL contacts would likely be in major metros where the sponsor was located whereas workout would be more local to the actual business
Thanks. Some questions: 1. What do you call contacts in workout/credit resolution? Are these people lawyers or i-bankers? 2. ABL is asset backed lending from commercial lenders? Sponsor is in Greenwich, CT so there are probably tons.
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1. Workout is the group of bankers that would handle the banks exposure to deals they want to exit. It’d probably be harder to find contacts because they won’t really be market facing. 2. Correct - I’d look for ABL contacts in NYC if sponsor is in Greenwich.
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Yeah I’m not well connected because I’m young the contacts I do have don’t have the clout and confidence to reach out. Just so I’m on your page: workout is ibankers or commercial bankers ie ar bofa
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Try keyword “CI Special Assets” (commercial and industrial or C and I) search on LinkedIn. If you reach out to a few people in Special Assets, they will likely point in right direction. If in BK, debt may have been sold already.
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