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Course 2011-2012 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) - MM (6 credits - I sem. - OP) - AFC (6 credits - I sem. - OP  |  SECS-P/11) - CLAPI (6 credits - I sem. - OP) - CLEFIN-FINANCE (6 credits - I sem. - OP  |  SECS-P/11) - CLELI (6 credits - I sem. - OP) - ACME (6 credits - I sem. - OP  |  SECS-P/11) - DES-ESS (6 credits - I sem. - OP) - EMIT (6 credits - I sem. - OP)
Course Director:
STEFANO GATTI

Classes: 31 (I sem.)
Instructors:
Class 31: STEFANO GATTI


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: 1. definition of the transaction; 2. deal structuring; 3. the trend of demand at both international and domestic level; 4. 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 securitizations
    • 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 management
    • valuation of deal’s bankability
    • the rating of project finance deals

Detailed Description of Assessment Methods

Final written exam for both attendant and nonattendant students. No partial exam is scheduled.


Textbooks

S. GATTI, Project Finance in Theory and Practice, Elsevier-Academic Press, 2007 (selected chapters of the book).

Slides by the instructors, made available through the course website.

 


Prerequisites
 

It is recommended to have attended a basic corporate finance course and master basic concepts of mathematical finance and inferential statistics.

Last change 19/04/2011 11:14