Equity & Debt Capital Markets

£695.00 +VAT

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Equity & Debt Capital Markets Course Overview:

On the Equity & Debt Capital Markets Course participants start by covering the main functions and players of capital markets. Participants are then introduced to equity markets and products. We will focus on the life-cycle of equities, starting with the Initial Public Offering and moving afterwards to secondary offerings (rights issues, accelerated book building, bought deals, etc.). We will also look to the secondary market, including motivations of investors. We will drill down on the characteristics of equity and introduce comparable and fundamental equity valuation. Finally, participants will cover the main debt products available to corporates. The bond issuance process and key documentation are discussed. Both long and short term, and public and private financing options are explained.

This course can be presented in-house via live webinar.

Background of the Trainer:

The trainer has 15 years of experience in accounting and investment banking at leading firms and is an experienced financial trainer who has delivered courses for financial institutions in the City of London and around the world, in the areas of Corporate Finance, Valuation (Industrials and Banks), Financial Modelling, M&A, LBO, Financial Accounting, Capital Markets, Bank Regulatory Capital, Financial Risks, both in English and French.

Equity & Debt Capital Markets Course Content:

Session 1 – Capital Markets Fundamentals

  • What financial markets do?
  • Who are the major players?
  • Domestic and international capital markets
  • Debt versus equity
  • Primary versus secondary market
  • Distinguishing between retail, corporate and investment banking
  • Buy side versus sell side
  • League tables, equity & debt underwriting
  • Loan and bond markets
  • Corporate advice and finance
  • Where transactions take place: Exchanges vs. OTC vs. ECNs
  • The buy-side industry/investors
  • Active vs. passive investment management
  • Asset allocation

Session 2 – Equity Capital Markets

  • ECM and IPO trends: volume, industries, actors in the US, Europe and China
  • The corporate lifecycle and equity financing options
  • ECM role and fees
  • Initial public offering
    • Process
    • Prospectus
    • Book building and arriving at a price
    • Quiet period
    • Stabilization and greenshoe option
  • IPO modelling with pre and post offering
  • Secondary offering
    • Follow on placements
    • Right issues
    • Accelerated book building
    • Modeling a follow on placement
  • Share classes
    • Different classes
    • Preference shares
    • Pricing
    • Issuing shares in different markets
    • Modelling different classes of shares
  • Listing rules
    • Key rules in main equity markets
    • Minority squeeze out
    • Compulsory purchase

Case Study I: Detailed review of the Facebook IPO

Section 3 – Debt Capital Markets

  • The corporate lifecycle and debt financing options
  • Bond issuance process
    • Due diligence
    • Prospectus
    • Roadshow
    • Syndicate and bond allocation
    • Market making and after-market
  • Short-term debt funding
    • Overdraft/ Revolving credit facility/Commercial paper
  • Long- term debt funding
    • Bank debt
    • Publicly issued bonds

Case Study II: Participants analyse the recent apple bond issuance, term sheet and prospectus

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05 June 2018, 16 October 2018