This course is designed to help participants understand how best to access the capital markets for an infrastructure project.
The course is delivered over 2 half-day sessions. The first session will explain the different bond markets as well as how to undertake a bond placement for Investment Grade and Non-Investment Grade transactions.
The second session will provide a detailed understanding of how a credit rating is undertaken and how a rating can support a bond placement. The course will also explain how to price a bond as well as covering the key aspects of bond documentation. The programme concludes with an overview of the issues arising during the restructuring of an entity financed with bonds.
On completion of the course, participants will be equipped with a clear understanding of:
- When is it suitable to access the bond market?;
- Different bond markets;
- Benefits of labelling bonds as – “green”, “blue” or “sustainable”;
- The bond placement process;
- Investment grade and non-investment grade characteristics;
- The credit rating process;
- Credit enhancement structures;
- Bond documentation;
- Pricing a bond on placement;
- Restructuring bond issues.
The course is led by Ian Dixon, who has over 40 years’ experience in the global infrastructure market. He will bring to the course his wide experience gained by running infrastructure teams at a bank, monoline investment bank and rating agency.