Overview of capital markets
We will discuss the two main types of financing available, debt and equity, with the aim of comparing debt and equity, and their impact on the company. We will use a case study to aid analysis and also introduce debt products, by describing their typology, with the details to come in later sections.
- Risk reward for shareholders, dividends, owners of company and subordinated in claim
- Return on/cost of equity
- Risk reward for debt creditors, interest, debt maturity and superiority of claim
- Tax shield on debt
- Return on/cost of debt
- Impact of different capital structures to be explored through case study/model
- General discussion on the current climate and impact on funding
Equities and ECM
We will drill down on the characteristics of equity. We will focus on the life cycle of equities, starting with the IPO, including the pros and cons of going public. We will also look to the secondary market, including motivations of investors, as drivers of the cost of equity. We will also take a look at follow on placements, in particular rights issues. We will assess share price and rights price. We will use drill questions based on case studies throughout.
- Types of shares
- Initial public offering – company life cycle, pros & cons
- Initial public offering process – quick overview of process
- Follow on placements & block trades
- Rights issues
The aim of this session is to focus on convertible bonds and variations. We look at what they are and provide examples of companies who’ve issued them. We focus on terminology, the pros and cons to issuers. The class will also look at accounting and modeling the convertible from issuance to conversion/maturity. We will conclude by discussing other forms of CBs.
- Convertible bond terminology
- Pros and cons
- Accounting & modeling
"Using AMT Online (AMTO) was excellent as it allowed me to work through the course material at my own pace. AMT Online was very easy to use and navigate through." ~ graduate, leading business school
What will you receive on the course?
While this is a face to face training course, a blended learning approach is taken and delegates will be provided with access to AMT Online. Our study materials contain both the knowledge and practice materials required to assist with the learning process and help you in your job role. Course materials include:
- printed course binder with copy of the slides
- laminated summary sheets
- 24/7 access to DELTA online learning environment
- class recordings
- course notes
- electronic homework/study files
Who should attend the course?
- New hires who have joined the firm late and missed the in-house program
- Individuals looking to fill a knowledge gap
- Experienced bankers looking to refresh their technical skills
- Teams employed in financial strategy roles from non-banking corporations
- Graduates preparing to interview for a role in the finance sector
- Students at business school and looking for a career in finance
This course is non-residential. The venue will provide light refreshments. AMT reserve the right to cancel or postpone sessions or change content if registrations are insufficient to continue 2 weeks prior to scheduled commencement date. Registrants will be given at least 5 business days’ notice of such changes.