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 of debt fi nancing carries significant risk to both investors and
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 provides you 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), and
leveraged loans.
Leveraged Financial Markets is your blueprint to becoming a virtuoso
of this resilient and popular asset class
