Corporate Finance

Please find below an example of a three-day course in Corporate Finance course which we have delivered. We can tailor it to your individual needs.

Corporate Finance Transactions

Participants are introduced to the main transactions in Corporate Finance: Mergers & Acquisitions (M&A), including buy-side and sell-side transactions, equity and debt financing and Leveraged Buy-Out (LBO). The steps in an M&A process are explained in detail alongside due diligence and synergies. Key metrics in M&A analysis, including accretion/dilution, pro forma leverage, synergies paid away are discussed based on real life case studies.

Participants then learn the key characteristics and players of an LBO and go through its financing structures.

Equity & Debt Capital Markets

Participants start by covering the main functions and players of capital markets. Participants are then introduced to equity markets and products. We will focus on the life-cycle of equities, starting with the Initial Public Offering and moving afterwards to secondary offerings (rights issues, accelerated book building, bought deals, etc.). We will also look to the secondary market, including motivations of investors. We will drill down on the characteristics of equity and introduce comparable and fundamental equity valuation. Finally, participants will cover the main debt products available to corporates. The bond issuance process and key documentation are discussed. Both long and short term, and public and private financing options are explained.

Advanced Equity Valuation Methodologies

Following the initial valuation methodologies, participants will move, during the second day, to more advanced business valuation concepts. Participants will discuss complex issues such as a two-stage terminal value, valuation of net operating losses, WACC for private companies and issues in the reconciliation between enterprise and equity value (associates, non-controlling interests, operating leases, pension deficits).

Much of the course work involves Excel modelling and analysis, equipping participants with the tools to further enhance their understanding of valuation issues.