Practical Understanding of Current Debt Markets
Redcliffe Training Associates Ltd.
Duration: 2 Days
Contact us
Detailed information
| Duration: | 2 Days |
|---|---|
| Price: | Contact us |
| Type: | Courses |
| Method: | Short courses |
Do you need further information?
Contact the person in charge , free and at no obligation, for information on how to enroll, enrollment limit/availability and more.
Course program
Course Overview:
This course is aimed at professionals with an existing knowledge of financial markets and financial products, either with knowledge through theory, studies or direct practice.
The aim of this course is to enable participants to understand and analyse the characteristics and inherent risks of capital and debt instruments in the context of global financial markets and of its main participants
Methodology
Classroom lecture style supplemented by workshops, practical exercises and up-to-date and relevant case studies.
Level of Preparedness
Intermediate working knowledge of financial services industry would be helpful.
Course Content:
Financial markets and financial products: How they operate
• Corporate
• Type of issuers
• Type of products
• Banks: Sell side
• Major actors type of products
• Role in structuring a deal
• Institutionals and Asset Manager: Buy side
• Asset allocation
• Performance and risk considerations
Theory of Pricing
• Bond pricing basics and market theory
• Yield curve analysis
• Spread analysis and pricing of bonds
• Rating analysis
• Benchmarks and Govies
• Swap curve
• Coupon
• Reoffer
• Fees
Government Securities
• Gilts
• Short, Medium and long term government debt
• The yield curve
• Redemption and running yields
• Duration
• Inverse yield curves
• The impact of quantitative easing
Hedging Interest Rates
• Asset swapped bond transactions
• Default swaps and total return swaps
• Baskets and Indices
• Basket Default Swaps
• Index tranche transactions
• Credit/Default linked notes
Securitisation and credit derivatives products
• History and current market
• Types of products: ABS, MBS, CDO, CDS
• Motivation of securitisation deals and credit derivatives products
• Major actors and various markets
Securitisation products explained
• ABS – credit card, car loans, consumer loans, student loans, non performing loans (NPL), Refinancing (plane leasing, Energy, Royalties, Industrials,…), ABCP…
• CDO-CBO, CLO, CDO^2, CDO (private equity, Hedge funds), emerging CDO, High Yield CDO
• MBS, CMBS. RMBS, REIT
• CDS, synthetic securitisations
• Specific risk products (weather derivatives, CAT Bonds)
• Esoteric securitisation –Wholesale securitisation, principal finance
High Yield Bonds
• Overview of the market
• Current Uses
• How issued, pricing, maturity etc
• Who can access the market
• A versatile asset class
• A driver of liquidity
• A replacement for bank debt
Convertible Bonds
• What are they
• Who can issue them
• How are the y priced
• Maturity and call options
• Use as a financing tool
• Cost of capital considerations
Bank Capital and Debt instruments
• Basel III definitions
• Tier 1 & tier 2
• Co Co’s, the new hybrid
• Debt issuance by bank
• Criteria for tier 2 inclusion
• Maturity ladder
The impact of current market conditions
• Bank deleveraging
• Inflation
• Yield curve
• Quantitative easing
• Fixed versus floating
Currency Considerations
• The big five
• PIGS & BRICS
• Impact on bond prices
• Relationship between interest rates & bonds
• Hedging
• OTC versus exchange traded
This course is aimed at professionals with an existing knowledge of financial markets and financial products, either with knowledge through theory, studies or direct practice.
The aim of this course is to enable participants to understand and analyse the characteristics and inherent risks of capital and debt instruments in the context of global financial markets and of its main participants
Methodology
Classroom lecture style supplemented by workshops, practical exercises and up-to-date and relevant case studies.
Level of Preparedness
Intermediate working knowledge of financial services industry would be helpful.
Course Content:
Financial markets and financial products: How they operate
• Corporate
• Type of issuers
• Type of products
• Banks: Sell side
• Major actors type of products
• Role in structuring a deal
• Institutionals and Asset Manager: Buy side
• Asset allocation
• Performance and risk considerations
Theory of Pricing
• Bond pricing basics and market theory
• Yield curve analysis
• Spread analysis and pricing of bonds
• Rating analysis
• Benchmarks and Govies
• Swap curve
• Coupon
• Reoffer
• Fees
Government Securities
• Gilts
• Short, Medium and long term government debt
• The yield curve
• Redemption and running yields
• Duration
• Inverse yield curves
• The impact of quantitative easing
Hedging Interest Rates
• Asset swapped bond transactions
• Default swaps and total return swaps
• Baskets and Indices
• Basket Default Swaps
• Index tranche transactions
• Credit/Default linked notes
Securitisation and credit derivatives products
• History and current market
• Types of products: ABS, MBS, CDO, CDS
• Motivation of securitisation deals and credit derivatives products
• Major actors and various markets
Securitisation products explained
• ABS – credit card, car loans, consumer loans, student loans, non performing loans (NPL), Refinancing (plane leasing, Energy, Royalties, Industrials,…), ABCP…
• CDO-CBO, CLO, CDO^2, CDO (private equity, Hedge funds), emerging CDO, High Yield CDO
• MBS, CMBS. RMBS, REIT
• CDS, synthetic securitisations
• Specific risk products (weather derivatives, CAT Bonds)
• Esoteric securitisation –Wholesale securitisation, principal finance
High Yield Bonds
• Overview of the market
• Current Uses
• How issued, pricing, maturity etc
• Who can access the market
• A versatile asset class
• A driver of liquidity
• A replacement for bank debt
Convertible Bonds
• What are they
• Who can issue them
• How are the y priced
• Maturity and call options
• Use as a financing tool
• Cost of capital considerations
Bank Capital and Debt instruments
• Basel III definitions
• Tier 1 & tier 2
• Co Co’s, the new hybrid
• Debt issuance by bank
• Criteria for tier 2 inclusion
• Maturity ladder
The impact of current market conditions
• Bank deleveraging
• Inflation
• Yield curve
• Quantitative easing
• Fixed versus floating
Currency Considerations
• The big five
• PIGS & BRICS
• Impact on bond prices
• Relationship between interest rates & bonds
• Hedging
• OTC versus exchange traded
Do you need clarification regarding the course program?
Contact the person in charge , free and at no obligation, for information on how to enroll, enrollment limit/availability and more.