OVERVIEW

Explore the way in which capital markets connect the world’s issuers, to the world’s investors, with the assistance of the financial industry. The major global investors and issuers are covered in some detail, along with the main features of the key funding instruments; debt and equity. You will then examine some of the ways in which the corporate makes decisions on the equity and debt mix in their business.

LEARNING OBJECTIVES

• Have familiarity with the major categories of entities that operate in financial markets
• Understand the difference between equity and debt from both the issuer and investor perspective
• Understand some of the considerations in selection of preferred debt/ equity mix made by corporates

TOPICS COVERED

Complete topics step by step or jump to any of the below at any time.

OVERVIEW

This course covers the main debt products available to corporates. Using a case company, the debt capacity is calculated before different funding options. Both long and short term, and public and private financing options are explored. Finally the bond issuance process and key documentation are discussed.

LEARNING OBJECTIVES

• Understand the need for long term and short term debt
• Understand the differences between overdrafts, revolving credit facilities and commercial paper
• Become familiar with typical covenants in loans and bonds
• Understand how to compute bond price and bond yield
• Compute interest and fees on a variety of debt products

TOPICS COVERED

Complete topics step by step or jump to any of the below at any time.

OVERVIEW

This course will cover the main products of the equity capital markets. Using a case company, you will tour through the equity capital markets, embracing IPOs, secondary offerings, and different share classes. Finally, listing rules and some of the subtleties of the pricing of equities are examined.

LEARNING OBJECTIVES

• How corporates access equity capital markets at various stages of the life cycle
• What is an IPO, why go public and what is the relevance of primary and secondary funding in an IPO?
• How is the IPO price set and stabilized (the ‘Greenshoe’ option)?
• How do companies that are already public, access further capital?
• What is a Rights Issue and how do I calculate the TERP?
• What are dual listings, depository receipts and other forms of equity?

TOPICS COVERED

Complete topics step by step or jump to any of the below at any time.