The course focuses on investment banking topics. In particular, it concentrates on the valuation issues through the explanation of the different methodologies developed and used within the industry, along different kinds of deals and needs. In addition, it focuses on the way in which financial intermediaries can arrange and support companies’ fund raising processes on the market and through private placements. Finally, some lectures will provide insights about some extraordinary deals and assets and debts restructuring processes.
The course includes the following lectures:
o Company value: introduction to equity and enterprise value, aim of valuation
o Analytical and empirical methodologies: asset approach, earnings approach, cash flow approach, relative valuation approach, mixed methodologies (e.g. EVA)
o Equity Research
o Debt fund raising: structured bonds, ABS
o Equity fund raising: private offering and public offering (e.g. SEO). Listing on a Stock market Exchange
o Project financing
o Private equity
o Structured operations: complex derivatives, CDS
o Corporate Banking: short- and mid-term financing
o Mergers & Acquisitions
o Company crises and company restructuring
o Asset restructuring
o Debt restructuring
The contents are provided through class lectures, which consist in both theoretical lessons and exercises. Students should attend class regularly and actively participate, contributing to class learning and discussion. Some pratical sessions will be given through practitioners coming from the most important and highly-reputed investment banks.