Debt capital markets · Liability management / Hybrid capital

You help companies and financial firms reshape the bonds they have already issued and raise hybrid capital, a kind of bond that counts partly as equity. The seat is in the Liability Management and Hybrid Capital team within the EMEA Capital Markets Group in London, part of MUFG's Capital Solutions team.

Liability management means reshaping a borrower's existing debt. A company might buy back bonds early, swap old bonds for new ones that fall due later, or ask bondholders to agree to changed terms. Hybrid capital is debt with some features of shares, which lets rating agencies, the firms that grade how safe a borrower's debt is, treat part of it as equity.

Associate is usually the rank above analyst. You run the day-to-day work of a deal and support the senior bankers who lead it.