Mezzanine finance is subordinated, unsecured debt including including warrant loans, and others offer corporations and banks a means of financing during circumstances when ordinary techniques fall short. Leveraged financing uses mezzanine debt, often employed in M&A, management buyouts and other forms of ownership transition, as well as corporate recapitalizations.

Equity-linked finance spans the division between subordinated debt and equity. Techniques include common stock, convertible notes, preferred shares, index-linked securities  and hybrid capital notes. Companies seek the best of debt and equity, while lenders and investors often demand the security and priority of claims offered by debt, while expecting some participation on the upside in exchange for the risks they take. Structured products refers to a range of investment instruments designed to meet investors' or issuers' special needs or constraints.

The course explains why and when corporations and financial institutions should issue mezzanine and subordinated instruments, equity-linked and hybrid securities, structured notes, leveraged finance or other forms of tailored finance. In three information-packed days of instruction and application, we offer an economic cost-benefit analysis of the techniques, an insight into the corporate finance and pricing principles, the risks and how they can be managed, methods of cash-flow modeling, and a roadmap for choosing among the alternative forms of these techniques that are employed in today's capital market.

• What is mezzanine finance? How do subordinated, quasi-equity financing techniques such as pay-in-kind, warrant-linked and and profit-participation loans work, and when does it make sense to use them? How are they priced?
• What is special about private equity, quasi-equity and hybrid finance? Why and when should companies consider the use of equity-linked debt, structured notes and subordinated mezzanine financing techniques?
  
• How and when can equity instruments and hybrid capital provide cheaper funding for issuers? From an investor's point of view, how can the security be dissected, and what drives its pricing?
• How do bank regulators and the rating agencies determine the equity component of hybrids?
• What is the role of equity and quasi-eqiuity finance in the credit crisis? How can these instruments be used in restructuring corporate balance sheets?
  

• Mezzanine Finance Explained
• What is Private Equity?
  
• Equity in Hybrids
• Equity-Linked and Structured Notes