Investment Banking Course 2019
Investment Banking Course 2019
- Start a career in Investment Banking or Private Equity
- Build financial models from scratch (shown step-by-step)
- Have solid financial and business acumen
- Tell the story of how investment banking services first appeared
- Explain the mechanics of an Initial Public Offering
- Draw an IPO timetable
- Explain the mechanics of a bond offering
- Draw a bond offering timetable
- Explain loan syndication and who participates in the syndicate
- Learn why companies buy other companies
- Explain the deal lifecycle
- Describe the different payment options in an M&A deal
- Learn about the different ways to restructure a companyUnderstand asset management services
- Calculate a company’s cost of debt, cost of equity, and WACC
- Understand the rationale behind Leveraged Buyout deals
- After this course, you will have the skills to start a successful career in Investment Banking and Corporate Finance
- Be able to tell who carries out LBO deals and why they can be very profitable
- Perform LBO valuation
- Be able to describe asset management vehicles and expected rates of return
- Become familiar with trading and brokerage and the securities traded on Financial Markets
- Tell the difference between Financial and Corporate buyers
- Identify successful M&A transactions
- Understand securitization and explain why banks use securitization
- Understand why companies raise public debt
- Understand how pricing is determined in a bond offering
- Understand why companies go public
- Understand how pricing is determined in an IPO
- Understand the difference between investment and commercial banking
- Take your career to the next level!
- Build valuation models – DCF, LBO and multiples
- Pass investment banking interviews
Years in The Business
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Investment Banking Course 2019 Syllabus
Welcome! – Course Introduction
The ascendance of investment banking services
- The importance of history, name, tradition, and reputation
- Early origins of investment banking services
- What is the difference between commercial and investment banking?
- Why do universal banks have a competitive advantage?
- Intrinsic conflicts of interest and the role of Chinese walls
- Historical M&A waves
- Three of the most important IPOs in history
The four main areas of investment banking activity
- Capital Markets – raising equity and debt capital
- Advisory – M&A and Restructuring services
- Trading and Brokerage – trading with financial securities
- Asset Management – the ability to use money to make more money
Strategies pursued by investment banks
- Strategies pursued by investment banks
- Relationship vs transaction-based banking
- The Accidental Investment Banker – Book recommendation
Capital Markets – Equity Capital Markets
- Why would a company want to go public?
- Who are the investors in an IPO?
- Coming up with a share price
- What does an IPO timetable look like?
- The IPO syndicate – members and responsibilities
- The pricing process
- Fee distribution among investment banks
- Allocating shares to investors – who gets what
- Taking a long and short position with respect to a security (definition)
- Post-IPO stabilization: Applying the Greenshoe option
- Other ways to place equity capital – SEOs and Private Placements
- Facebook’s IPO – Case Study
Capital Markets – Debt Capital Markets
- The four different types of bonds
- Why issue a bond?
- The mechanics of a bond offering. Process description
- A particular type of bonds – Junk bonds
- What is securitization and why can it be useful?
- Asset-backed securities: An example of securitization
- Loan Syndication – a preferred instrument for most banks nowadays
- Project finance
Advisory Services – Mergers and Acquisitions
- Why acquire another company?
- Describing the typical deal lifecycles and buyer companies
- The three types of M&A processes
- A detailed description of an M&A process
- Valuation of target companies
- Payment options in M&A deals
- Financial vs. Corporate Buyers
Advisory Services – Restructuring
- Restructuring services – why and when
- The different types of Restructuring
Trading and Brokerage
- How investment banks profit from Trading and Brokerage
- The different types of financial securities traded by investment banks
- Why hire Investment banks as asset managers?
- A risk-return comparison of different investments