Practical Understanding of Current Debt Markets

Redcliffe Training Associates

Course

Inhouse

£ 3001-4000

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Description

  • Type

    Course

  • Methodology

    Inhouse

  • Class hours

    12h

  • Duration

    2 Days

  • Start date

    Different dates available

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.

The course will begin with an introduction to financial markets and products and will cover bond pricing basics and market theory. During the course of this two day seminar, participants will get acquainted with the intricacies of the current debt markets. Government securities, hedging interest rates, securitisation and credit derivatives products will all be discussed and explained.

There will also be an overview of the different bond markets, bank capital and debt instruments and currency considerations.

This course is delieverd in a classroom lecture style format, supplemented by workshops, practical exercises and up-to-date and relevant case studies. An intermediate working knowledge of financial services industry would be helpful.

This course can be delivered in-house to a team of people.

For further information about the course, trainer or to request a quote, please contact the center.

Facilities

Location

Start date

Inhouse

Start date

Different dates availableEnrolment now open

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Subjects

  • Debt Markets
  • Finance
  • Asset Allocation
  • Bond Pricing Basics
  • Government Securities
  • Hedging Interest Rates
  • Securitisation
  • Credit Derivatives
  • Debt Instruments
  • Bank Deleveraging
  • Currency Considerations
  • High yield bonds

Teachers and trainers (1)

Former Practitioner

Former Practitioner

Contact us for details enquiries@redcliffetraining.co.uk

Course programme

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

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Practical Understanding of Current Debt Markets

£ 3001-4000

The best Banking and Financial Services courses

See all

See all