SEMINAR LENGTH
Variable
SUBJECT FOCUS/CONTENT
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Analysis of economic drivers, competitive structure, profitability, technology, capital structure norms, and growth prospects in a specific industry sector
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Review of valuation concepts and techniques used in a specific industry sector, in both domestic and international and in public and private markets
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Examination of structuring issues, tax implications, and deal process in a specific industry sector
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Exploration of structured finance and derivative securities applications in a specific industry sector
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Framework for marketing sector-specific financing ideas to bank clients which includes: identifying a client’s needs, reviewing relevant valuations, financing alternatives and current market conditions, proposing the best solution and executing the deal
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Detailed transaction studies that explain execution and marketing problems or opportunities that can arise in a specific industry sector
Sector-Specific Valuation
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Methodologies
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Relative Valuation/Public Market Valuation
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DCF Analysis
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Industry Cost of Capital
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Comparable Transactions
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Sector-Specific Industry Metrics
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Emerging Markets Valuation Issues
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Currency-driven adjustments
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Inflation-driven adjustments
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Local market factors
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Sector-Specific Deal Structuring and Process
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Capital Structure:
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Industry capital structure norms
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Bank credits/senior debt
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Private market financing
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Public market bond financing, 144A
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Equity investors
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Tax credits
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Vendor Financing
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Buy-side Capital Providers
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Mutual funds
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Pension funds
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Insurers
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Trust departments
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Endowments/foundations
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Venture capital
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Private Equity
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Structured Finance: Applications
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Securitizations of Receivable Streams
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Lease Finance
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Uses in Risk Management
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Tax Issues
SECTORS AVAILABLE
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Telecoms: cellular, PCS, CLECs, fixed line
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Media: cable, broadband, over-the-air
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Internet: ISPs, content, “backbone”
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Financial Services: banks, insurers, securities firms, asset managers
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Tourism: lodging, restaurants
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Retailing: grocers, general merchants, apparel
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Beverages: bottlers/concentrate producers, soda/alcoholic beverages, distributors
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Food: processors, branded manufacturers
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Energy: oil and gas, power utilities
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Materials: forest products, minerals
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Manufacturing: machinery, auto-related
TARGET AUDIENCE
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Investment bankers who cover specific sectors
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Relationship Managers who cover clients in specific sectors
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Capital Markets and other product specialists that help investment bankers and RMs market and execute mandates in specific sectors
PARTICIPANT OBJECTIVES
By the end of the workshop, participants will:
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Understand the basics of valuation in a specific sector
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Grasp the key issues in capital structure in a specific sector, as well as relevant structured finance applications
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Be familiar with transaction process and mechanics in a specific sector
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Be able to identify opportunities and work with their clients in defining opportunities in specific sector
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Be ready to prepare a pitch book and market finance ideas to sector-specific clients
METHODOLOGY
Lectures, presentations, discussions, and case studies. Participants will be asked to identify potential client applications in advance of attending the course with a view to making presentations and working with specialists during the session to develop a call plan and marketing approach.