A two-day overview of why firms borrow, the broad sources of debt funding and the range of borrowing instruments available.
IS CORPORATE FUNDING TRAINING RIGHT FOR YOU?
Yes, if you are:
- a CFO, FD, treasurer or a member of a corporate treasury team
- an accountant, auditor or analyst
- involved in arranging or administering corporate borrowing programmes
- a banker wanting to understand the corporate approach to borrowing
WHAT WILL YOU GAIN FROM THE MECHANICS OF CORPORATE FUNDING TRAINING COURSE?
- An overview of why firms borrow, the broad sources of debt funding and the range of borrowing instruments available
- An understanding of what credit risk is, how to measure it and how it is reflected in the pricing
- An understanding of what comprises a financial strategy and how to design one
- Appreciation of the financial risks for the firm when borrowing and how these might be managed.
THE MECHANICS OF CORPORATE FUNDING COURSE STRUCTURE
This corporate funding training course is divided into eight different topic areas, covered over the two-days.
- Debt vs. equity, history
- Why firms borrow
- Measures of credit risk
- Security and subordination
- Business and financial risk
Markets for borrowing
- Introduction to banks
- The bond market (high grade, high yield)
- Asset finance and other debt types
- Credit ratings
The costs of debt
- Spread or margin and credit risk
- The all in rate
- The non-financial costs of debt
- Loss of control
Components of financial strategy
- Leverage and how to decide it
- Credit risk level and ratings
- Liquidity and sources of finance
- Financial risk
- Sector influence
The lending contract
- Terms of lending
- Key aspects of documentation
Key financial risks in borrowing
- A risk framework
- Re-financing and re-pricing risk
- Interest rate risk
- Currency risk
- The uses of higher leverage and structured finance
- Layering of debt and different providers of capital
- The effect on those interacting with the borrower
Will Spinney, FCT
Will Spinney has been a practising treasurer for nearly 25 years, working for companies including Johnson Matthey, Eaton Corporation and Invensys plc. His experience at these companies covered all aspects of treasury including financial risk management, cash management, extensive financings and pension investment strategies. He has been involved with education and training with the ACT for several years – writing resources, running training courses and working as a member of examination boards. He is current Fellow and employee of the ACT.
Dates and location:
TBC 2018, London
ACT members, students and CPD accredited employers: £1,500 + VAT
Other treasury/accountancy body members: £1,600 + VAT
Non-members: £1,700 + VAT
Early bird discounts - book four weeks before to save 15% on the course fee *
Group discounts - if three or more people from the same organisation book onto any ACT training course, they qualify for 25% off the combined course fee *
We can also deliver this corporate funding training course to companies with teams that are interested in taking the course, tailoring it to your business needs. Find out more about in-company solutions here.