Leveraged Finance
Link
Cost
Paid
Published
2009
Full Name
Leveraged Finance: Concepts, Methods, and Trading of High-Yield Bonds, Loans, and Derivatives
Leveraged Finance is a timely guide to today’s high-yield corporate debt markets that finance much of corporate America. Presented in five sections, this book covers topics ranging from the basics of bonds and loans to more advanced topics such as valuing CDs, default correlations among CLOs, and hedging strategies across corporate capital structures. Written in a straightforward and accessible style, Leveraged Finance has the information you need to succeed in today's dynamic financial arena.
Its fourteen chapters are divided into five comprehensive parts:
- Part One covers the cash markets, which include high-yield bonds--also known as speculative-grade or junk bonds--and leveraged loans
- Part Two takes a look into the structured market, focusing on one type of collateralized debt obligation--collateralized loan obligations (CLOs)
- Part Three examines the relatively young synthetic markets, which include credit default swaps (CDS), traded credit indexes, and index tranches
- Part Four reviews trading strategies that investors can employ within the leveraged finance market
- Part Five addresses default correlation--the phenomenon that the likelihood of one obligor defaulting on its debt is affected by whether or not another obligor has defaulted on its debts