花旗培訓係列1債務提供（英文版）pdf190

This workbook provides a br OAd introduction to the debt markets, the parti cipants in
the markets, and some of the more common secur IT IEs being issued and traded. The
student completing this course will gain a basic working vocabulary of the key terms
currently being used in the debt markets. Because this is an introductory course, we
will cover a wide range of topics without going into great detail. Add ITional study
will be necessary to gain a more complete knowledge of debt secur IT IEs and the
markets in which they are traded.
UN IT1: Fundamentals of Debt Finan cing
Types of markets in which debt secur IT IEs are traded are presented in the first
unit. Some of the more common features found in debt secur IT IEs are also
introduced, including the provisions for making interest payments and repaying
the prin cipal. The unit also discusses different types of secur IT IEs, based on the
backing that the issuer provides for the bonds. The main focus is to introduce
key terms and ideas that will be helpful in evaluating secur IT IEs.
UNIT 2: Raising Debt Cap ITal
Un ITTwo provides a discussion of the processes necessary to issue debt
secur IT IEs. Relative advantages and disadvantages of several methods for raising
debt cap ITal are discussed. These methods include a public offering of debt, a
private offering, and securing a bank l OAn. Costs asso ciated w ITh each method
are also presented. Once again, the un ITfocuses on introdu cing key terms and
processes.
UN IT3: Valuing Debt
The third un ITfocuses on the mathematics asso ciated w ITh debt instruments. The
student learns how to calculate the appropriate y IEld of an instrument and how to
compare the y IElds of different instruments. Formulas are provided for estimating
an instrument's market price and the accumulated interest of an interest-bearing
security. The unit concludes w ITh an introduction to the concepts of duration and
convex ITy and desc
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