精彩书摘:
A leveraged loan in the US today is a loan provided by agroup of lenders to a middle market company．A leveraged loanis structured’arranged’and administered by one or morecommercial or investment banks，known as arrangers．The loaniS then sold，or syndicated，to other banks or institutionalinvestors．Until the early 1990’S，individual banks in the USprovided the needed debt capital to growing middle marketcompanies．In China，the Chinese state．owned banks largelyprovide the same service in China today．However，this serviceremained to be provided only to the privileged group，SOEs．
Leveraged loans are used by companies for a variety ofpurposes，including：
1．Mergers and Acquisitions
2．Refinancing Debt
3．Capital for General Corporate Purposes and Growth
Mergers and Acquisitions and corporate growth havelargely been responsible for the increased volume of leveragedloans in the US over the last twenty years．M＆A activity，andthat of leveraged buyouts（LBOs），is generally a transactionthat is supported by a private equity firm which in turn financesa portion of the transaction with debt capital from leveragedloans．The final structure，or mix of equity and debt，of a LBOwill be determined by how large the issuer or company is，thestability of its cash flows，and other risk factors that maysupport greater levels of leverage or debt．Other key factors toa private equity based leveraged loan is the reputation of theprivate equity firm，or sponsor，and the PE firm’S ability tosupport the company if the company faces financial difficulties．
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内容简介：
《中值市场杠杆融资：专为中国同行介绍》将向中国读者简要介绍美国金融市场中杠杆金融市场的债务工具及其市场运作情况，主要内容源于作者在美国从事股权投资和杠杆融资的实践经验和长期观察，基本反映了美国最新的市场发展状况，旨在为中国读者提供管窥美国杠杆融资债务工具及其市场运作的捷径。
目录：
Chapter 1 Introduction
Chapter 2 What is Leveraged Finance?
Chapter 3 Leveraged Loans
Chapter 4 High Yield Bonds
Chapter 5 Leveraged Loan Investors and Collateraliged Loan Obligations
Chapter 6 Assessing a Company’S Risk Profile
Chapter 7 Summary Considerations
Glossary
Appendix
第一章 概述
第二章 什么是杠杆融资?
第三章 杠杆贷款
第四章 高收益债券
第五章 杠杆贷款投资者和贷款抵押证券
第六章 评估公司的风险状况
第七章 总结思考
词汇表
附录
参考书目
2591325828
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