Course 2010-2011 a.y.
20254 - INVESTMENT BANKING AND STRUCTURED FINANCE
CLMG - M - IM - MM - AFC - CLAPI - CLEFIN-FINANCE - CLELI - ACME - DES-ESS - EMIT
Department of Finance
Course taught in English
Go to class group/s: 31
CLMG (6 credits - I sem. - OP | SECS-P/11) - M (6 credits - I sem. - OP | SECS-P/11) - IM (6 credits - I sem. - OP | SECS-P/11) - MM (6 credits - I sem. - OP | SECS-P/11) - AFC (6 credits - I sem. - OP | SECS-P/11) - CLAPI (6 credits - I sem. - OP | SECS-P/11) - CLEFIN-FINANCE (6 credits - I sem. - OP | SECS-P/11) - CLELI (6 credits - I sem. - OP | SECS-P/11) - ACME (6 credits - I sem. - OP | SECS-P/11) - DES-ESS (6 credits - I sem. - OP | SECS-P/11) - EMIT (6 credits - I sem. - OP | SECS-P/11)
Course Objectives
The course focuses on the business of structured finance from the financial intermediaries’ standpoint.
The course pays constant attention to the pratical aspects of each structured finance transaction. The repeated use of case studies and of a business game allows students to link the theoretical background to real-life situations.
For each transaction, the issues discussed are:
-
definition of the transaction;
-
deal structuring;
-
the trend of demand at both international and domestic level;
-
the situation of the offer (internationally and at the domestic level).
Course Content Summary
- Structured finance: the classification of the deals.
- Asset-backed securitization:
-
types and features;
-
cash vs syntetic securitization;
-
the rating of securitization deals.
- Project financing:
-
features and differences with corporate financing;
-
industries of application, private projects vs public-private partnerships;
-
risk analysis and risk manage;
-
valuation of deal’s bankability;
-
the rating of project finance deals.
Detailed Description of Assessment Methods
Final written exam for both attendant and non attendant students. No mid-term exam is scheduled.
Textbooks
S. GATTI, Project Finance in Theory and Practice, Elsevier-Academic Press, 2007.
Slides by the instructors, made available through the course website.
Last change 16/06/2010 11:53