Financing and Raising Capital

Financing and Raising Capital provides coverage of all options for raising finance at different stages of your company's growth: angel finance, venture capital funding, both public and private equity, IPOs, raising capital from both small and institutional investors, issuing debt, and securitization. Some chapters focus specifically on small and medium-sized enterprises (SMEs). This book will help you find the means to succeed in business today.

Includes contributions from over twenty leading academics and practitioners: Frank Fabozzi, professor of finance at Yale School of Management, U.S.; Lauren Mills, a leading finance journalist based in the UK; Arne-G. Hostrup, Managing Director of Netzwerk Nordbayern, Germany; and Roger Lister, professor of finance at Salford University, UK.

Contributors	p. vii
Best Practice-Issuing Debt	p. 1
Optimizing the Capital Structure: Finding the Right Balance between Debt and Equity	p. 3
Issuing Corporate Debt	p. 7
Banks and Small and Medium-Sized Enterprises: Recent Business Developments	p. 11
Capital Structure: A Strategy that Makes Sense	p. 17
Capital Structure: Perspectives	p. 25
Capital Structure: Implications	p. 31
Credit Ratings	p. 37
Raising Capital in the United Kingdom	p. 41
Minimizing Credit Risk	p. 45
How and When to Use Nonrecourse Financing	p. 49
Understanding the True Cost of Issuing Convertible Debt and Other Equity-Linked Financing	p. 53
Securitization: Understanding the Risks and Rewards	p. 57
Using Securitization as a Corporate Funding Tool	p. 63
What the Rise of Global Banks Means for Your Company	p. 69
Public-Private Partnerships in Emerging Markets	p. 73
Best Practice-Equity Investment	p. 81
Sources of Venture Capital	p. 83
Assessing Opportunities for Growth in Small and Medium Enterprises	p. 89
Equity Issues by Listed Companies: Rights Issues and Other Methods	p. 93
Attracting Small Investors	p. 97
Raising Capital in Global Financial Markets	p. 103
Financial Steps in an IPO for a Small or Medium-Size Enterprise	p. 109
The Role of Institutional Investors in Corporate Financing	p. 115
Understanding and Accessing Private Equity for Small and Medium Enterprises	p. 123
Assessing Venture Capital Funding for Small and Medium-Sized Enterprises	p. 129
Price Discovery in IPOs	p. 135
How to Set the Hurdle Rate for Capital Investments	p. 141
Private Investments in Public Equity	p. 147
Understanding Equity Capital in Small and Medium-Sized Enterprises	p. 151
IPOs in Emerging Markets	p. 159
Managing Activist Investors and Fund Managers	p. 165
Acquiring a Secondary Listing, or Cross-Listing	p. 169
The Cost of Going Public: Why IPOs Are Typically Underpriced	p. 173
Checklists-Issuing Debt	p. 177
Assessing Cash Flow and Bank Lending Requirements	p. 179
The Bond Market: Its Structure and Function	p. 181
Financial Intermediaries: Their Role and Relation to Financial Markets	p. 183
Franchising a Business	p. 185
How to Manage Your Credit Rating	p. 187
How to Use Receivables as Collateral	p. 189
Maintaining the Banking Relationship	p. 191
Measuring Gearing	p. 193
Money Markets: Their Structure and Function	p. 195
Overview of Loan Agreements	p. 197
Raising Capital by Issuing Bonds	p. 199
Steps for Obtaining Bank Financing	p. 201
Understanding and Using Interest Coverage Ratios	p. 203
Understanding and Using Leverage Ratios	p. 205
Understanding Debt Cover	p. 207
Understanding Fixed-Charge Coverage	p. 209
Checklists-Equity Investment	p. 211
Dealing with Venture Capital Companies	p. 213
Investors and the Capital Structure	p. 215
Options for Raising Finance	p. 217
An Overview of Stockholders' Agreements	p. 219
Raising Capital by Issuing Shares	p. 221
Raising Capital through Private and Public Equity	p. 223
Sovereign Wealth Funds-Investment Strategies and Objectives	p. 225
Sovereign Wealth Funds-Profiles of the Top 10 Players	p. 227
Understanding Capital Markets, Structure and Function	p. 231
Understanding Capital Structure Theory: Modigliani and Miller	p. 233
Understanding the Cost of Capital and the Hurdle Rate	p. 235
Understanding the Weighted Average Cost of Capital (WACC)	p. 237
Using Mezzanine Financing	p. 239
Index	p. 241
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Financing and Raising Capital

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