Malavika Basu

• Led credit underwriting and due diligence for over $30 billion in leveraged acquisitions and refinancing within Media & Telecom sector.
• Built and reviewed cash flow-based credit models to evaluate leverage, debt service capacity, and liquidity scenarios.
• Assessed capital structure risk across various debt types, focusing on structural protections and potential loss mitigation strategies.
• Prepared comprehensive credit memoranda and risk assessments for senior committees, highlighting risks, sponsor behavior, and key mitigants.
• Analyzed transaction documents including covenants and guarantees to ensure compliance and assess lender protections.
• Monitored post-close portfolio credits, tracking performance against underwriting expectations and identifying potential risks.

Select Transactions:

Paramount Global – Hostile Bid for Warner Bros. Discovery
$30bn acquisition financing | Lead Bank: Citibank

• Underwriting credit risk through a comprehensive memo analyzing industry dynamics, integration execution risk, cost synergies, key media KPIs, and downside mitigants across multiple stress scenarios
• Evaluated pro forma leverage, liquidity, and cash flow durability to assess debt service capacity through integration and cyclical advertising downturns, while partnering with cross-product teams to analyze capital return, balance-sheet usage, and ROTCE to meet Citi’s commercial thresholds

AT&T – Delayed Draw Term Loan
$17.5bn delayed draw term loan | Lead Bank: Citibank

• Financing package structured to support AT&T’s liquidity and capital allocation strategy amid elevated spectrum investment
• Underwrote credit risk by analyzing liquidity sources and uses, pro forma leverage, cash flow coverage, and spectrum-related capital intensity, including acquisitions of spectrum licenses from EchoStar and UScellular, to assess long-term debt service capacity

• Developed wallet share analysis for top revenue clients to evaluate market share and growth potential.
• Analyzed monthly bottom-line figures for client accounts, reporting month-over-month changes to relationship lead.
• Examined client fees per product over ten years to assess pricing module impact.
• Collaborated with two associates to compile end-of-year client letters showcasing firm's value and strategic influence.