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14 May 2020

Raising debt finance - issuing bonds and fixed income

Category: MASTER COURSE

Gain end-to-end knowledge of the bond issuance process, as well as some of the pros and cons of borrowing in different debt formats. The corporate bond market has become a key channel for companies to raise debt capital.

Who should attend?
This course is for those who want to understand a typical international bond issue in respect of both the issuance process for a bond and the typical terms and conditions attached to a bond.

Designed for those who are involved in raising debt from either a treasury perspective or those who work with existing or prospective bond issuers, it is relevant for treasury staff, accountants and lawyers as well as those entering the origination area of an investment bank.

What you will gain
The corporate bond market has become a key channel for companies to raise debt capital. Post the financial crisis there is less capacity for banks to lend to companies. From the investor side low interest rates on sovereign bonds and bank deposits has increased the demand for corporate bonds by retail and pooled vehicle investors.

The course explains the process by which bonds are created and issued to investors and provides an introduction to the subject of the documentation of bonds under English law. It covers the functions of Debt Capital Markets (DCM) activities within an investment bank.

Delegates who attend the course will gain end-to-end knowledge of the bond issuance process, as well as some of the pros and cons of borrowing in different debt formats.

Programme outline
The timing procedure and structure of a bond issue

The different perspectives of the issuer managers trustee and fiscal or paying agent and the principal points which are likely to be contentious

Covenants and other terms typically attached to bonds issues

A bond’s key features

Different types of debt securities

Choosing to issue a bond versus loan

Coupon, yield, maturity and other key aspects of a bond

Issuance conditions - market environment and issuer-specific considerations

Typical terms and conditions of bonds including interest, redemption, covenants, events of default

Parties to a bond issue

  • The parties to a bond issue and their respective roles
  • Differences between a trustee and fiscal agent
  • Activities of Debt Capital Markets (DCM)
  • Role of the underwriter, and the subscription agreement

Marketing the deal - roadshow, pricing and launch

  • Responsibilities of the issuer

Legal and regulatory considerations

  • Prospectus requirements and regulations - the Prospectus Directive and MiFID
  • Offering circulars and pricing supplements
  • MTNs

Other

  • Consideration of different types of bonds (e.g. convertibles) and when appropriate to issue
  • Securitisation, and other forms of secured bond issue

The course starts at 9.00am. Lunch and refreshments are included.
6 CPD hours (where applicable). 

CIMA work in partnership with BPP Professional Education to offer CPD training courses

Booking Information

Date Location Price
14 May 2020 - 09:00 London Price: GBP 650.00
Member price: £585. Plus VAT on all prices.
15 September 2020 - 09:00 London Price: GBP 650.00
Member price: £585. Plus VAT on all prices.
11 November 2020 - 09:00 London Price: GBP 650.00
Member price: £585. Plus VAT on all prices.

Raising debt finance - issuing bonds and fixed income

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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In-house training 
We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

Find out more 
If you have any queries please email cima@bpp.com or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at: http://www.bpp.com/professional-education/privacy

The information provided to BPP will not be used by BPP for marketing purposes.

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