A Pragmatist's Guide to Leveraged Finance
A Pragmatist's Guide to Leveraged Finance

Author: Robert S. Kricheff

Publisher: FT Press

Published: 2012-02-27

Total Pages: 282

ISBN-13: 0132855240

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The high-yield leveraged bond and loan market (“junk bonds”) is now valued at $3+ trillion in North America, €1 trillion in Europe, and another $1 trillion in emerging markets. What’s more, based on the maturity schedules of current debt, it’s poised for massive growth. To successfully issue, evaluate, and invest in high-yield debt, however, financial professionals need credit and bond analysis skills specific to these instruments. Now, for the first time, there’s a complete, practical, and expert tutorial and workbook covering all facets of modern leveraged finance analysis. In A Pragmatist’s Guide to Leveraged Finance, Credit Suisse managing director Bob Kricheff explains why conventional analysis techniques are inadequate for leveraged instruments, clearly defines the unique challenges sellers and buyers face, walks step-by-step through deriving essential data for pricing and decision-making, and demonstrates how to apply it. Using practical examples, sample documents, Excel worksheets, and graphs, Kricheff covers all this, and much more: yields, spreads, and total return; ratio analysis of liquidity and asset value; business trend analysis; modeling and scenarios; potential interest rate impacts; evaluating and potentially escaping leveraged finance covenants; how to assess equity (and why it matters); investing on news and events; early stage credit; and creating accurate credit snapshots. This book is an indispensable resource for all investment and underwriting professionals, money managers, consultants, accountants, advisors, and lawyers working in leveraged finance. In fact, it teaches credit analysis skills that will be valuable in analyzing a wide variety of higher-risk investments, including growth stocks.

A Pragmatist's Guide to Leveraged Finance
A Pragmatist's Guide to Leveraged Finance

Author: Robert S. Kricheff

Publisher: FT Press

Published: 2012

Total Pages: 282

ISBN-13: 0132855232

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The high-yield leveraged bond and loan market (“junk bonds”) is now valued at $3+ trillion in North America, 1 trillion in Europe, and another $1 trillion in emerging markets. What’s more, based on the maturity schedules of current debt, it’s poised for massive growth. To successfully issue, evaluate, and invest in high-yield debt, however, financial professionals need credit and bond analysis skills specific to these instruments. Now, for the first time, there’s a complete, practical, and expert tutorial and workbook covering all facets of modern leveraged finance analysis. InA Pragmatist’s Guide to Leveraged Finance,Credit Suisse managing director Bob Kricheff explains why conventional analysis techniques are inadequate for leveraged instruments, clearly defines the unique challenges sellers and buyers face, walks step-by-step through deriving essential data for pricing and decision-making, and demonstrates how to apply it. Using practical examples, sample documents, Excel worksheets, and graphs, Kricheff covers all this, and much more: yields, spreads, and total return; ratio analysis of liquidity and asset value; business trend analysis; modeling and scenarios; potential interest rate impacts; evaluating and potentially escaping leveraged finance covenants; how to assess equity (and why it matters); investing on news and events; early stage credit; and creating accurate credit snapshots. This book is an indispensable resource for all investment and underwriting professionals, money managers, consultants, accountants, advisors, and lawyers working in leveraged finance. In fact, it teaches credit analysis skills that will be valuable in analyzing a wide variety of higher-risk investments, including growth stocks.

A Pragmatist’s Guide to Leveraged Finance
A Pragmatist’s Guide to Leveraged Finance

Author: Robert S. Kricheff

Publisher: Harriman House Limited

Published: 2021-05-25

Total Pages: 238

ISBN-13: 0857198505

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The high-yield leveraged bond and loan market is now valued at $4+ trillion in North America, Europe, and emerging markets. What’s more the market is in a period of significant growth. To successfully issue, evaluate, and invest in high-yield debt, financial professionals need credit and bond analysis skills specific to these instruments. This fully revised and updated edition of A Pragmatist’s Guide to Leveraged Finance is a complete, practical, and expert tutorial and reference book covering all facets of modern leveraged finance analysis. Long-time professional in the field, Bob Kricheff, explains why conventional analysis techniques are inadequate for leveraged instruments, clearly defines the unique challenges sellers and buyers face, walks step-by-step through deriving essential data for pricing and decision-making, and demonstrates how to apply it. Using practical examples, sample documents, Excel worksheets, and graphs, Kricheff covers all this, and much more: yields, spreads, and total return; ratio analysis of liquidity and asset value; business trend analysis; modeling and scenarios; potential interest rate impacts; evaluating leveraged finance covenants; how to assess equity (and why it matters); investing on news and events; early-stage credit; bankruptcy analysis and creating accurate credit snapshots. This second edition includes new sections on fallen angels, environmental, social and governance (ESG) investment considerations, interaction with portfolio managers, CLOs, new issues, and data science. A Pragmatist’s Guide to Leveraged Finance is an indispensable resource for all investment and underwriting professionals, money managers, consultants, accountants, advisors, and lawyers working in leveraged finance. It also teaches credit analysis skills that will be valuable in analyzing a wide variety of higher-risk investments, including growth stocks.

Managed by the Markets
Managed by the Markets

Author: Gerald F. Davis

Publisher: OUP Oxford

Published: 2009-03-26

Total Pages: 328

ISBN-13: 0191607584

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The current economic crisis reveals just how central finance has become to American life. Problems with obscure securities created on Wall Street radiated outward to threaten the retirement security of pensioners in Florida and Arizona, the homes and college savings of families in Detroit and Southern California, and ultimately the global economy itself. The American government took on vast new debt to bail out the financial system, while the government-owned investment funds of Kuwait, Abu Dhabi, Malaysia, and China bought up much of what was left of Wall Street. How did we get into this mess, and what does it all mean? Managed by the Markets explains how finance replaced manufacturing at the center of the American economy and how its influence has seeped into daily life. From corporations operated to create shareholder value, to banks that became portals to financial markets, to governments seeking to regulate or profit from footloose capital, to households with savings, pensions, and mortgages that rise and fall with the market, life in post-industrial America is tied to finance to an unprecedented degree. Managed by the Markets provides a guide to how we got here and unpacks the consequences of linking the well-being of society too closely to financial markets.

Applied Corporate Finance
Applied Corporate Finance

Author: Aswath Damodaran

Publisher: John Wiley & Sons

Published: 2014-10-27

Total Pages: 663

ISBN-13: 1118808932

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Aswath Damodaran, distinguished author, Professor of Finance, and David Margolis, Teaching Fellow at the NYU Stern School of Business, has delivered the newest edition of Applied Corporate Finance. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Like no other text of its kind, Applied Corporate Finance, 4th Edition applies corporate finance to real companies. It now contains six real-world core companies to study and follow. Business decisions are classified for students into three groups: investment, financing, and dividend decisions.

Globalization and Its Discontents
Globalization and Its Discontents

Author: Joseph E. Stiglitz

Publisher: W. W. Norton & Company

Published: 2003-04-17

Total Pages: 305

ISBN-13: 0393071073

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This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics. When it was first published, this national bestseller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. Particularly concerned with the plight of the developing nations, he became increasingly disillusioned as he saw the International Monetary Fund and other major institutions put the interests of Wall Street and the financial community ahead of the poorer nations. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.

Global Business Regulation
Global Business Regulation

Author: John Braithwaite

Publisher: Cambridge University Press

Published: 2000-02-13

Total Pages: 194

ISBN-13: 9780521780339

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How has the regulation of business shifted from national to global institutions? What are the mechanisms of globalization? Who are the key actors? What of democratic sovereignty? In which cases has globalization been successfully resisted? These questions are confronted across an amazing sweep of the critical areas of business regulation--from contract, intellectual property and corporations law, to trade, telecommunications, labor standards, drugs, food, transport and environment. This book examines the role played by global institutions such as the World Trade Organization, World Health Organization, the OECD, IMF, Moodys and the World Bank, as well as various NGOs and significant individuals. Incorporating both history and analysis, Global Business Regulation will become the standard reference for readers in business, law, politics, and international relations.

Crossing the Chasm
Crossing the Chasm

Author: Geoffrey A. Moore

Publisher: Harper Collins

Published: 2009-03-17

Total Pages: 254

ISBN-13: 0061795860

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Here is the bestselling guide that created a new game plan for marketing in high-tech industries. Crossing the Chasm has become the bible for bringing cutting-edge products to progressively larger markets. This edition provides new insights into the realities of high-tech marketing, with special emphasis on the Internet. It's essential reading for anyone with a stake in the world's most exciting marketplace.

Business Transformation Strategies
Business Transformation Strategies

Author: Oswald A J Mascarenhas

Publisher: SAGE Publications

Published: 2011-02-14

Total Pages: 681

ISBN-13: 813210501X

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A resource for industry professionals and consultants, this book on corporate strategy lays down the theories and models for revitalizing companies in the face of global recession. It discusses cutting-edge concepts, constructs, paradigms, theories, models, and cases of corporate strategic leadership for bringing about transformation and innovation in companies. Each chapter in the book is appended with transformation exercises that further explicate the concepts.

Configuring the Networked Self
Configuring the Networked Self

Author: Julie E. Cohen

Publisher: Yale University Press

Published: 2012-01-24

Total Pages: 351

ISBN-13: 0300125437

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The legal and technical rules governing flows of information are out of balance, argues Julie E. Cohen in this original analysis of information law and policy. Flows of cultural and technical information are overly restricted, while flows of personal information often are not restricted at all. The author investigates the institutional forces shaping the emerging information society and the contradictions between those forces and the ways that people use information and information technologies in their everyday lives. She then proposes legal principles to ensure that people have ample room for cultural and material participation as well as greater control over the boundary conditions that govern flows of information to, from, and about them.