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- ISBN: 9780071746687 | 0071746684
- Cover: Hardcover
- Copyright: 7/13/2010
The most complete guide available to the high-yield and distressed-debt marketsLeveraged Financial Marketsopens up a world where investors take short and long positions on the riskiest forms of debt financing. Through the eyes of the players and thinkers who live in the high-yield and distressed debt markets, this timely book gives you the background and strategies you need to successfully diversify your portfolio and capture a higher return on your investment.You'll hit the ground running with this book's proven models and formulas for implementing covered strategies in the real world. Leveraged Financial Markets features perspectives from the world's top authorities on high-yield bonds, credit derivatives, and other forms of distresseddebt. It's a must-have for every investor who wants to: Diversify risk in a meritable asset class Lock in an excellent risk return profile Develop significant annual cash flowsFrom the nuts and bolts of leveraged finance to the differences between CLOs and structured finance CDOs to common pitfalls of high-yield assetsLeveraged Financial Marketshelps you master one of the riskiest yet most profitable markets in finance today.Table of ContentsPart I: Market Structure Chapter 1.The High Yield Market Chapter 2.The Globalization of the High-Yield Market Chapter 3.Bond RatingsPart II: High-Yield Bonds Chapter 4.High-Yield Bonds as an Asset Class Chapter 5.The Issuers and Investors in the High-Yield Bond Market Chapter 6.Bond Indentures and Bond Characteristics Chapter 7.Default and Migration Probabilities of High-Yield Bonds Chapter 8.Analyzing a High-Yield Debt Issuance Chapter 9.Valuation of Callable, Floating and PIK High Yield Instruments Chapter 10.Analytical Model of Default ProbabilitiesPart III: High-Yield Bonds at the Portfolio Level Chapter 11.Managing a High-Yield Portfolio Chapter 12.Monitoring a High-Yield Portfolio Chapter 13.High Yield Index Products Chapter 14.Aggregate Market ValuationPart IV: Leveraged Loans and CDOs Chapter 15.Leveraged Loans as an Asset Class Chapter 16.The Issuers and Investors in Leveraged Loans Chapter 17.Collateralized Debt Obligations and SecuritizationPart V: Distressed Debt Chapter 18.Recovery Rates on Defaulted Bonds Chapter 19.Analyzing the Credit Risk of Distressed Securities Chapter 20.Debtor-in-Possession Financing Chapter 21.Vulture InvestingPart VI: Credit Derivative Swaps Chapter 22.Credit Derivative Swaps