Debt & Equity Capital Markets
About this course
The IDECM Course has been designed as a 2-day course during which time the candidates will gain a comprehensive knowledge of the international capital markets landscape. This knowledge will form a solid base for their development as commercial lawyers, especially in a Banking and Finance division.
More info
DAY 1:
- Introduction to DCM
- What is a bond
- Eurobond definition
- Overview of international bond market
- Segmentation of Bonds
- Investment Grade Bonds
- High Yield Bonds
- Bonds as a funding mechanism
- Comparison to Loan and Equity markets
- Overall pro’s and cons of bonds as funding instrument
- Issuing considerations
- Reg S vs 144A issue
- Deal size
- Use of proceeds
- Credit ratings
- Why required for a bond issue
- Obtaining a rating – the process
DAY 2:
- Issuing process:
- Documentation
- Issuer Due Diligence
- Marketing process
- Book Building process
- Hedging Considerations
- Bond Deal Parameters:
- Currency of issue
- Comparison of different currencies
- Issuance Fees
- Bond pricing
- Secondary Market Considerations
- Who trades in the secondary market
- Credit appetite drivers and killers
- Liability Management
- Bond Buybacks
- Introduction to Equity Capital Markets (ECM)
- Overview of ECM
- Rights Issues
- Accelerated Book Builds (ABBs)
- Convertible Bonds
- Share Buy Backs
- IPOs
- ECM as a funding mechanism
- Shareholder Dilution
- Impact on EPS
Who should attend:
Associates specializing in Commercial Law
