The purpose of this course is to give you a good understanding of various debt funding tools and techniques. We start with a general introduction to the concepts of capital structure from both a theoretical and practical approach.
After this, we demonstrate the various debt funding options through the prism of the Board's perspective and the impact these funding options would have on shareholder (i.e. equity) value as it is impossible to consider debt funding instruments in isolation of the impact these might have on the equity.
The main body of the programme will focus on the various debt funding alternatives, how and where these might be applied, the pros and cons of each option and the typical terms and conditions which are currently available. At the same time other, relevant issues will also be addressed such as credit ratings, debt capacity, corporate strategy, etc.
We explore practical issues, options and tactics which will face parties in leveraged and unleveraged deals and, drawing on the trainer's experience, offers a practical template on how to respond to the issues they are likely to face.
We then take a closer look at the valuation of a distressed debt security. We show how the valuation of a distressed debt security requires significant judgment. We also explain many factors which play an important role in the valuation process, including the reason for distress, the status of distress and placement of the distressed security within the capital structure of the entity.
Finally, we look at the debt restructurings and discuss the various triggers for restructuring, restructuring options and methods, and issues that arise from the business nature of the debt restructuring.
The programme is aimed at lenders, sponsors, lawyers, accountants and other advisers involved in this sector, management and other professions (investment advisers) operating in the European environment who require a greater insight into the key issues which arise in general debt finance.