Mezzanine Finance
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| Author | : Luc Nijs |
| Publisher | : John Wiley & Sons |
| Total Pages | : 530 |
| Release | : 2013-10-15 |
| Genre | : Business & Economics |
| ISBN | : 1118765206 |
An in-depth explanation of mezzanine finance Mezzanine finance products, which have grown increasingly popular in recent years, involve a unique and complex form of analysis because of their hybrid nature. Because mezzanine finance involves no collateral, it accentuates legal terms, term sheets, and contracts, in addition to depicting dynamics of both debt and equity. Experienced chairman, lecturer, and professor of investment banking Luc Nijs presents readers with a thorough description of product groups, structuring and pricing, and cultural discrepancies in terms of regulation and application in Mezzanine Financing: Tools, Applications and Total Performance. Nijs analyzes common triumphs and failures encountered in mezzanine financing, and he discusses techniques for risk analysis and risk mitigation. A final study of international capital markets, their products' relevance, attractiveness, and liquidity, and the effects on pure equity/fixed-income risk concludes the book. Conveys a professional's advice through case studies of various regions, industries and contexts Provides the only complete analysis of mezzanine finance as no other books take on the topic as their only subject Details an increasingly popular and globally relevant subject in finance Those seeking a detailed explanation of the complexities within mezzanine financing will encounter a professional account in Nijs's book.
| Author | : Luc Nijs |
| Publisher | : John Wiley & Sons |
| Total Pages | : 530 |
| Release | : 2013-12-09 |
| Genre | : Business & Economics |
| ISBN | : 1119941814 |
An in-depth explanation of mezzanine finance Mezzanine finance products, which have grown increasingly popular in recent years, involve a unique and complex form of analysis because of their hybrid nature. Because mezzanine finance involves no collateral, it accentuates legal terms, term sheets, and contracts, in addition to depicting dynamics of both debt and equity. Experienced chairman, lecturer, and professor of investment banking Luc Nijs presents readers with a thorough description of product groups, structuring and pricing, and cultural discrepancies in terms of regulation and application in Mezzanine Financing: Tools, Applications and Total Performance. Nijs analyzes common triumphs and failures encountered in mezzanine financing, and he discusses techniques for risk analysis and risk mitigation. A final study of international capital markets, their products' relevance, attractiveness, and liquidity, and the effects on pure equity/fixed-income risk concludes the book. Conveys a professional's advice through case studies of various regions, industries and contexts Provides the only complete analysis of mezzanine finance as no other books take on the topic as their only subject Details an increasingly popular and globally relevant subject in finance Those seeking a detailed explanation of the complexities within mezzanine financing will encounter a professional account in Nijs's book.
| Author | : Stefanie Welz |
| Publisher | : GRIN Verlag |
| Total Pages | : 31 |
| Release | : 2007-05-07 |
| Genre | : Business & Economics |
| ISBN | : 3638786528 |
Seminar paper from the year 2006 in the subject Business economics - Investment and Finance, grade: A-, University of applied sciences, Munich (FOM), course: Financial Mangement, language: English, abstract: The term Mezzanine resounded throughout the land. Mezzanine financing instruments, which represent a mixed form between equity and debt capital, are considered as the financing alternative particularly to medium-size enterprises, whose financial situation substantially worsened due to the difficult overall economic situation in the last years. Particular with regard to Basel II and the more restrictive granting of loans lead to an intensification of the situation due to the fact that German medium-size companies traditionally have a little equity ratio which is however relevant for their rating and thus make it difficult to revert to the financing practice of the house bank so far. In order to improve the equity situation, Mezzanine financing instruments can be used, which are at least economically assigned to equity depending on the definition during the rating process. This assignment however primarily addresses the issue of economic aspects of the financing instrument which have relevant influence on the representation of the balance sheet. 1.2 Scope of work The assignment Mezzanine financing starts with the introduction which includes the executive summary and the scope of work that is realized in here. The second chapter deals with a detailed definition of the problem that causes the relevance of this assignment, the determination of the objectives as well as the methodology that describes the assignment’s structured procedure. Chapter three is focused on the underlying theories of Mezzanine financing. At this juncture in particular the principal agent, the transaction cost and the property rights theory according to Mezzanine financing are being analyzed. Chapter four is about basics, typical characteristics and the application areas of Mezzanine capital whereas the chapter five deals with the benefits of Mezzanine capital. Finally, the results of this assignment are summarized; especially whether the set objectives are reached as well as critical comments about the assignment are given in the last chapter.
| Author | : Graham D. Vinter |
| Publisher | : Sweet & Maxwell |
| Total Pages | : 520 |
| Release | : 2006 |
| Genre | : Business & Economics |
| ISBN | : 9780421909502 |
Published in association with the Intellectual Property Institute, this title provides a focal point for discussion of policy issues in intellectual property law and their effects on industry. It provides emphasis on interdisciplinary issues of policy, drawing together legal, economic, industrial, technical, managerial and statistical viewpoints
| Author | : Aunnie Patton Power |
| Publisher | : Springer Nature |
| Total Pages | : 339 |
| Release | : 2021-05-28 |
| Genre | : Business & Economics |
| ISBN | : 303072428X |
The venture capital model doesn’t work—at least not for 99% of startups and small businesses. In this 99% are a lot of companies with incredible potential: businesses headed by female founders and those from diverse racial backgrounds, organizations headquartered outside of venture capital hubs, and purpose-driven enterprises that are creating social and environmental impact alongside financial success. Counter to what the press-savvy venture capital world would have you believe, there are a lot of funding options out there for startups and small businesses. Adventure Finance is designed to help you understand some of these options, and walk you through real examples of how other founders and funders have put them to use. In simple, approachable language, the book breaks down the different types of funding options available from revenue-based financing to recoverable grants to redeemable equity to distributed ownership and more. Through a mix of storytelling and frameworks, based on a decade of research and experience in investing in early-stage companies, this book will give you the ability to determine how each of these structures can contribute to your own funding journey. The goal for this book is to shift the conversation about startup funding and help founders and funders widen the spectrum of “mainstream” investment options in order to make the venture financing world more inclusive and purpose-driven.
| Author | : Petri Mäntysaari |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 594 |
| Release | : 2010-05-03 |
| Genre | : Law |
| ISBN | : 3642030599 |
1.1 Cash Flow, Risk, Agency, Information, Investments The first volume dealt with the management of: cash flow (and the exchange of goods and services); risk; agency relationships; and information. The firm m- ages these aspects by legal tools and practices in the context of all commercial transactions. The second volume discussed investments. As voluntary contracts belong to the most important legal tools available to the firm, the second volume provided an - troduction to the general legal aspects of generic investment contracts and p- ment obligations. This volume discusses funding transactions, exit, and a particular category of decisions raising existential questions (business acquisitions). Transactions which can be regarded as funding transactions from the perspective of a firm raising the funding can be regarded as investment transactions from the perspective of an - vestor that provides the funding. Although the perspective chosen in this volume is that of a firm raising funding, this volume will simultaneously provide infor- tion about the legal aspects of many investment transactions. 1.2 Funding, Exit, Acquisitions Funding transactions are obviously an important way to manage cash flow. All - vestments will have to be funded in some way or another. The firm’s funding mix will also influence risk in many ways. Funding. The most important way to raise funding is through retained profits and by using existing assets more efficiently. The firm can also borrow money from a bank, or issue debt, equity, or mezzanine securities to a small group of - vestors.
| Author | : Mark J. P. Anson |
| Publisher | : John Wiley & Sons |
| Total Pages | : 720 |
| Release | : 2008-04-15 |
| Genre | : Business & Economics |
| ISBN | : 9780470089224 |
Since the first edition of the Handbook of Alternative Assets was published, significant events-from the popping of the technology bubble and massive accounting scandals to recessions and bear markets-have shifted the financial landscape. These changes have provided author Mark J. P. Anson with an excellent opportunity to examine alternative assets during a different part of the economic cycle than previously observed in the first edition. Fully revised and updated to reflect today's financial realities, the Handbook of Alternative Assets, Second Edition covers the five major classes of alternative assets-hedge funds, commodity and managed futures, private equity, credit derivatives, and corporate governance-and outlines the strategies you can use to efficiently incorporate these assets into any portfolio. Throughout the book, new chapters have been added, different data sources accessed, and new conclusions reached. Designed as both an introduction to the world of alternative assets and as a reference for the active investor, the Handbook of Alternative Assets, Second Edition will help you match alternative assets with your various investment goals.
| Author | : Tom Speechley |
| Publisher | : Bloomsbury Publishing |
| Total Pages | : 688 |
| Release | : 2016-03-24 |
| Genre | : Law |
| ISBN | : 1784515248 |
One of the main issues for a buyer making an acquisition is how to finance it. Acquisition Finance, 2nd edition considers the commercial factors that influence the choice of finance and analyses the most common forms of debt and equity finance. Offering in depth expert advice it provides a full picture for each scenario of the transaction structure and process from the initial commercial stages, to the structuring aspects, due diligence process, the legal documentation process (including a detailed look at the various legal documents required), to funding and completion. The second edition includes coverage of the following changes in the financial market: Impact of the credit crunch on the acquisition finance market and the terms currently available to borrowers (pricing, level of restriction, balance of negotiating power between lenders and borrowers); Types of acquisition finance currently available (less mezzanine finance, less second lien debt, but high yield debt market strengthening); Typical funding structures in the post-credit crunch market; How the financial assistance rules apply to buyouts since October 1, 2009; Changes to the players in the acquisition finance market, including the increasing involvement of non-bank lenders; Continued evolution of the private equity market; Current state of the public-to-private market and its regulation reflecting changes to the Takeover Code since 2008. Includes the following legislation and case law: Companies Act 2006 - how the financial assistance rules apply to buyouts since October 1, 2009; Changes to the Takeover Code since publication of the 1st edition in 2008; Makdessi v Cavendish Square Holdings BV and another (Appeal) [2013] EWCA Civ 1539; Re Uniq Plc [2011] EWHC 749 (Ch); Barclays Bank Plc and others v HHY Luxembourg SARL & Anor (Rev 1) [2010] EWCA Civ 1248. Previous print edition ISBN: 9781845920173
| Author | : Stefano Caselli |
| Publisher | : Springer |
| Total Pages | : 215 |
| Release | : 2017-10-09 |
| Genre | : Business & Economics |
| ISBN | : 3319541242 |
This book, now in its second edition, provides an in-depth overview of all segments of the structured finance business, with particular reference to market trends, deal characteristics and deal structuring. The goal is to assist readers in gaining a clear understanding of the common features of structured finance transactions. The process of deal structuring for each type of transaction is carefully analyzed, with extensively updated chapters on asset securitization, project finance, structured leasing transactions and leveraged acquisitions. In the new edition, particular attention is paid to novel areas of intervention, such as public–private partnerships and non-performing loans in the resolution of bank restructuring. Although the subject of much criticism, structured finance, when used properly, offers an effective solution to the credit crunch that many European countries are suffering and is also a way to revive a single capital market for debt instruments. Readers will find this book to be an illuminating guide to the business and to the best market practices in organizing transactions. It will be of value for BSc and MSc finance students, professionals and consultants alike.
| Author | : Pierre-Yves Mathonet |
| Publisher | : John Wiley & Sons |
| Total Pages | : 476 |
| Release | : 2008-07-31 |
| Genre | : Business & Economics |
| ISBN | : 9780470723401 |
Building on the success of the author’s previous book Beyond the J Curve:Managing a Portfolio of Venture Capital and Private Equity Funds, this work covers new and additional material and offers advanced guidance on the practical questions faced by institutions when setting up and managing a successful private equity investment programme. Written from the practitioner’s viewpoint, the book offers private equity and venture capital professionals an advanced guide that will make high return targets more realistic and sustainable. Factors that can sometimes cause institutions to shy away from venture capital are the industry’s opaque track record, unclear valuations and risks, perceived lack of transparency as well as the significant entry barriers to overcome before tangible results show. These issues are all addressed in details with practical solutions to the problems. Among other topics J-Curve Exposure includes discussions of: Experiences with the adoption of the International Private Equity and Venture Capital Valuation Guidelines to address fair value under IFRS. Approaches for splitting and prioritizing distributions from private equity funds. Techniques for track record analysis and other tools to help limited partners in their due diligence. Approaches to dealing with uncertainty, the relevance of real options, and co-investments and side funds as advanced portfolio management techniques. Questions related to limited partner decision making fallacies and how to manage portfolios of VC funds. Securitization backed by portfolios of investments in private equity funds. Real life case studies illustrate the issues relevant for the practitioner.
