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Leveraged Financial Markets

A Comprehensive Guide to Loans, Bonds, and Other High-Yield Instruments

Gebonden Engels 2010 9780071746687
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Samenvatting

Public companies acquire most of their outside capital from debt fi nancing and, more specifi cally, leveraged finance-an asset class that falls somewhere between traditional fixed income and stocks. While this type ofdebt fi nancing carries significant risk to both investorsand companies, the potential returns make leveraged finance a cornerstone of the modern financial markets.

'Leveraged Financial Markets' is a gathering of the most astute and informed minds in the business.The powerhouse editorial team of William F. Maxwell and Mark R. Shenkman have handselected contributions from the top practitioners and thinkers working in leveraged finance today.

The result is an authoritative guidebook that providesyou with what you need to navigate the highyield market in the integrated global economy. Packed with a wealth of analytical models illustrating the realities of distress probabilities and losses in default, 'Leveraged Financial Markets' gives you all the insight and strategies you need to:
- Use the Sharpe ratio to measure the return versus risk for high-yield debt
- Develop and oversee a portfolio of high-yield bonds
- Value individual high-yield issuances

It also updates you on changes in the high-yield bond market and features in-depth coverage of numerous debt vehicles leveraged in the market today, including collateralized debt obligations (CDOs), credit derivative swaps (CDSs), collateralized loan obligations (CLOs), andleveraged loans. 'Leveraged Financial Markets' is your blueprint tobecoming a virtuoso of this resilient and popular asset class.

Specificaties

ISBN13:9780071746687
Taal:Engels
Bindwijze:gebonden
Aantal pagina's:416
Druk:1
Verschijningsdatum:16-8-2010
ISSN:

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Inhoudsopgave

Part I: Market Structure
Chapter 1. The High Yield Market
Chapter 2. The Globalization of the High-Yield Market
Chapter 3. Bond Ratings

Part II: High-Yield Bonds
Chapter 4. High-Yield Bonds as an Asset Class
Chapter 5. The Issuers and Investors in the High-Yield Bond Market
Chapter 6. Bond Indentures and Bond Characteristics
Chapter 7. Default and Migration Probabilities of High-Yield Bonds
Chapter 8. Analyzing a High-Yield Debt Issuance
Chapter 9. Valuation of Callable, Floating and PIK High Yield Instruments
Chapter 10. Analytical Model of Default Probabilities

Part III: High-Yield Bonds at the Portfolio Level
Chapter 11. Managing a High-Yield Portfolio
Chapter 12. Monitoring a High-Yield Portfoli
Chapter 13. High Yield Index Products
Chapter 14. Aggregate Market Valuation

Part IV: Leveraged Loans and CDOs
Chapter 15. Leveraged Loans as an Asset Class
Chapter 16. The Issuers and Investors in Leveraged Loans
Chapter 17. Collateralized Debt Obligations and Securitization

Part V: Distressed Debt
Chapter 18. Recovery Rates on Defaulted Bonds
Chapter 19. Analyzing the Credit Risk of Distressed Securities
Chapter 20. Debtor-in-Possession Financing
Chapter 21. Vulture Investing

Part VI: Credit Derivative Swaps
Chapter 22. Credit Derivative Swaps

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