Issuing Bonds and Repo Market

 

  • Bonds are an important instrument used to raise funds by governments, banks, corporations and projects. Issuing bonds facilitates greater diversification in funding and brings many benefits to the economy, including diversified funding sources and financial sector stability. The liquidity of the bond market is increased by repo agreements, which help traders finance and manage their portfolios.

Course objectives

This training course will provide participants essential information needed for issuing bonds and financing bond positions. Today, issuing bonds is a highly technical and complicated process. We will try to present it in a more user-friendly way. Pre-issuance activities, bond structure, legal documents, marketing and placement, and pricing and launch will be discussed in detail.

The course will also explain the growth and vital importance of repos on the financial markets. It will explore how these activities can improve bond market liquidity and be profitable to all parties involved. Its practical approach will provide participants with an insight into how financial institutions lend and borrow securities and utilise repos.

 

Who should attend

  • securities traders
  • fund managers
  • risk managers, risk controllers and auditors
  • client relationship managers
  • members of borrower treasury teams
  • originators on debt capital markets
  • project / structured finance managers
  • corporate treasurers
  • debt capital market participants
  • corporate finance personnel
  • personnel responsible for funding activities

Teaching methodology

    The programme of the workshop does not require knowledge or practice with bond issuing. However, experience in this area is welcome. This workshop is suitable for those who would like some insights into bond issuance. In addition to the theoretical basics, practical examples will also be presented. Through case study analysis, practical examples and hands-on workshops, this intensive training course will provide participants the opportunity to improve their understanding of the aspects of bond issues and repo agreements.

  • Course description

    Date: 16-17 November 2017

    Venue: Budapest, Danubius Grand Hotel Margitsziget

     

    The workshop is held in the English language.

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  • Course contents

    • Pre-issuance analysis
      • corporate financial analysis
    • Market analysis
      • bonds as investments
      • local and international bond markets
      • pricing and risk premium
    • Transaction development and structure
      • types of bonds
      • legal environment
    • Legal documentation and securities law disclosure
      • legal documentation
      • offering circular
      • subscription agreement
      • agreement among managers
      • base prospectus and final terms
    • Marketing and placement
      • registration and listing
      • marketing process
    • Pricing and launch
      • the mandate
      • pricing
      • launch
      • bookbuilding
    • Post-issuance requirements
    • Repurchase agreement - repo
      • transaction structure
      • terminology
      • credit risks
      • types of repos
      • determinants of the repo rate
    • Securities lending
      • the economics and benefits of lending
      • the differences between securities lending and repos and the documentation that governs them