Leveraged Financial Markets: A Comprehensive Guide to Loans, Bonds, and Other High-Yield Instruments
(Sprache: Englisch)
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...
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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.
Inhaltsverzeichnis zu „Leveraged Financial Markets: A Comprehensive Guide to Loans, Bonds, and Other High-Yield Instruments “
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 Portfolio; 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
Autoren-Porträt von William Maxwell, Mark R. Shenkman
WILLIAM F. MAXWELL is a professor of fi nance. Heholds the Rauscher Chair of Financial Investments at the Cox School of Business, Southern Methodist University, and he has held professorships at the University of Arizona, Texas Tech, and Georgetown. Maxwell is the author of numerous articles for academic journals and is the coauthor of High-Yield Bonds. He lives in Dallas, Texas.MARK R. SHENKMAN is President and ChiefInvestment Offi cer of Shenkman Capital Management, Inc., one of the world's largest high-yield money management firms. Shenkman has held major high-yield bond positions since 1977 at First Investors Asset Management, Lehman Brothers, and Fidelity Management and Research. He is alsothe coauthor of High-Yield Bonds. Shenkman livesin Greenwich, Connecticut.
Bibliographische Angaben
- Autoren: William Maxwell , Mark R. Shenkman
- 2010, 416 Seiten, Maße: 16,3 x 23 cm, Gebunden, Englisch
- Ed. by William F. Maxwell and Mark R. Shenkman
- Verlag: McGraw-Hill Professional
- ISBN-10: 0071746684
- ISBN-13: 9780071746687
- Erscheinungsdatum: 01.08.2010
Sprache:
Englisch
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