February 2012
Intermediate to advanced
288 pages
5h 25m
English
book
A Pragmatist’s Guide to Leveraged Finance: Credit Analysis for Bonds and Bank Debt
by Robert S. Kricheff
Content preview from A Pragmatist’s Guide to Leveraged Finance: Credit Analysis for Bonds and Bank DebtBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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18. Making Money or Losing It Off of News Events
What’s in this chapter:
• The process for analyzing typical credit events
• How to examine covenants and structures to analyze how events might impact bond and loan prices
• Two acquisitions scenarios
• An IPO scenario
• A refinancing scenario
As pointed out in earlier chapters, the leveraged finance market is more prone to and reactive to events than most other fixed-income markets.
Unfortunately, no set of rules governs how a company’s debt securities will react in response to a certain type of news event. Often the entire market may view an announced event as positive (or negative). But investors may have significantly different views on how much the news should impact security prices, and different ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.