Leveraged Financial Markets: A Comprehensive Guide to Loans, Bonds, and Other High-Yield Instruments

ISBN-13: 9780071746687 / Angielski / Twarda / 2010 / 416 str.

Mark Shenkman

Opis

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 of debt fi nancing carries significant risk to both investors and 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 provides you 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), and leveraged loans. Leveraged Financial Markets is your blueprint to becoming a virtuoso of this resilient and popular asset class.