Back to Search Results

Training Course Summary:

Overview of Types of Corporate Funding
Equity
Debt - short and long term funding instruments
Quasi debt instruments - mezzanine finance
Bank loan structures
Corporate financing decisions and use of debt finance

Debt Financing in Mergers and Acquisitions
Capital market efficiency theory
Capital structure theory
Debt financing management

High Yield Corporate Bonds

Credit Derivative Products

Rationale for Securitisation

Fundamental ABS Structures
Mortgage backed deal structures
Commercial loan and bond collateralised deals
Auto loans
Credit cards
Leasing
Future flow transactions

The Rating Process
Importance of the rating agency involvement
The rating process for typical CNBs, RMBs and CDOs
Rating methodologies and formulas
Risk transformation through credit enhancement

Credit Enhancement
Importance of credit enhancement structures
Bank guarantees and letters of credit
Guaranteed investment contracts
Debt subordination
Over collateralisation
Excess spread accounts

Risk Mitigation
Credit risks
Liquidity risk
Market risks - interest and currency
Reinvestment risk
Administration risk
Legal and tax risk

Training Course Overview/Content:

History & background
Requirement for a secondary market
Current position of AIM & OFEX
Advantages and disadvantages of a quotation
Suitability for a quotation
Tax treatment of qualifying unquoted companies

The parties and their roles
Selection
The NOMAD as regulator
The NOMAD as co-ordinator
Stockbrokers and underwriting
Accountants and due diligence
Solicitors and verification
Other advisers
Differences for OFEX
Costs of a flotation

Prospectus requirements
The POSREGS
Liability of directors and advisers
Contents of Admission Document
Contrast with Listing Rules
Procedure for application - AIM
Procedure for application - OFEX

Preparation for flotation
Valuation
Methods of flotation
Marketing
Structuring the shareholder list

Continuing obligations
Announcements
Codes of conduct
The Class Tests
Trading and settlement