Debt Management

When companies need fuel to grow, bonds may be the way to go. Traditional blue-chip firms and dot-com startups alike can use debt strategically as a key financial instrument. The critical challenge, however, is integrating corporate debt into core business strategies and established financial policies. This practical book provides practitioners in every industry with a comprehensive, prudent approach to managing corporate debt obligations. Written by leading experts in the field and drawing from case studies of real companies, Debt Management walks financial professional through the entire decision-making process--from designing debt issues to retiring debt through bond redemptions and bond repurchases, all to meet corporate financial objectives. Unique in its presentation of the issuer's perspective--that is, it looks at debt from the company's viewpoint, and not just the buyer's or underwriter's--this work will be the industry reference on debt management and the corporate financier's desktop consultant for years to come. With insights into how factors such as bond valuation methodologies, derivatives, and tax and regulatory restrictions affect the process, the authors provide practitioners in both the U.S. and international debt markets with the information and tools needed to make smart debt-management decisions. With first-rate thinking in finance, while keeping the complex mathematics to a minimum, this volume will prove as handy as it is indispensable--the essential reference for planning, implementing, and managing corporate debt with discretion and confidence.

ISBN 0875846173   Pages 452 ISBN13 9780875846170 (What's this?)   Volumes 1 Publisher Oxford University Press Inc   Weight (grammes) 808 Imprint Oxford University Press Inc   Published in New York Format Hardback   Series title Financial Management Association Survey & Synthesis Series Publication date 14 Jun 2001   Height (mm) 156 Library of Congress 01016792   Width (mm) 234 DEWEY 658.1526   Spine width (mm) 38 DEWEY edition DC21   Academic level Professional / Scholarly

		Preface
		Acknowledgments
Ch. 1		Overview of Debt Management		1
Ch. 2		Commercial Debt Financing		21
Ch. 3		Debt Capital Markets		43
Ch. 4		High-Yield Debt		67
Ch. 5		New Issue Design		87
Ch. 6		Institutional Considerations		117
Ch. 7		Fixed-Income Derivatives		137
Ch. 8		Debt Innovations		165
Ch. 9		Valuing Bonds and Bank Loans		199
Ch. 10		Bond Refunding: Measuring the Net Advantage		231
Ch. 11		Bond Refunding: The Timing Decision		251
Ch. 12		Sinking-Fund Management		275
Ch. 13		Other Types of Bond Refundings		303
Ch. 14		Preferred Stock and Preference Stock		329
Ch. 15		Convertible Securities		347
Ch. 16		The Future of Debt Management		369
		Notes		379
		Suggested Additional Readings		405
		Index		407

"Debt Management should be on the bookshelf of all chief financial officers and corporate treasurers. Finnery and Emery clearly explain how to design an optimal debt instrument to minimize funding costs and how to deal with the refunding decision after issuance."--Frank J. Fabozzi, President, Frank J. Fabozzi Associate, and Adjunct Professor of Finance, School of Management, Yale University"This book is an invaluable resource to corporate and municipal finance practitioners confronted by the many challenges of debt management. The thorough, scholarly treatment includes both the underpinnings of fixed income theory and real-life illustrations ranging from straightforward bond refundings to subtle tax-driven exchanges."--Andrew Kalotay, Ph.D., Member, Fixed Income Analysts Society Hall of Fame"Debt Management covers the subject exhaustively, from basic concepts to the most up-to-date techniques. Finnerty and Emery write with commendable clarity and a solid grounding in both t

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