LEADER 06126nam 2200673 450 001 9910142024603321 005 20200520144314.0 010 $a1-118-76520-6 010 $a1-118-79707-8 010 $a1-118-76522-2 035 $a(CKB)2670000000432491 035 $a(EBL)1463536 035 $a(DLC) 2013037633 035 $a(Au-PeEL)EBL1463536 035 $a(CaPaEBR)ebr10780744 035 $a(CaONFJC)MIL530125 035 $a(OCoLC)858550166 035 $a(CaSebORM)9781119941811 035 $a(MiAaPQ)EBC1463536 035 $a(EXLCZ)992670000000432491 100 $a20130829h20142014 uy| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aMezzanine financing $etools, applications and total performance /$fLuc Nijs 205 $a1st edition 210 1$aChichester :$cJohn Wiley & Sons Inc.,$d[2014] 210 4$dİ2014 215 $a1 online resource (530 p.) 225 1 $aThe Wiley finance series 300 $aIncludes index. 311 $a1-119-94181-4 320 $aIncludes bibliographical references and index. 327 $aMezzanine Financing: Tools, Applications and Total Performance; Contents; Preface; 1 Introduction; 1.1 The Bi-polar World of Finance; 1.2 Demarcation of the Product Group; 1.3 Positioning and Use of Mezzanine Finance; 1.4 The Risk-Return Conundrum; 1.5 Providers of Mezzanine Finance; 1.6 The Market for Mezzanine Products; 2 The Mezzanine Product Group; 2.1 Categorization of the Mezzanine Product Group; 2.1.1 Subordinated debt with step-up rates; 2.1.2 Subordinated debt with PIK interest; 2.1.3 Subordinated debt with profit participation; 2.1.4 Subordinated debt with warrants 327 $a2.1.5 Convertible loans 2.1.6 Preferred shares; 2.1.7 The wider space of hybrid instruments; 2.2 Case Study: The Kratos Company - Merger Finance; 2.2.1 Kratos Inc. - A closer look; 2.2.2 Case guidance; 2.2.3 Datasets; 3 The Implicit Cost of Mezzanine Products; 3.1 Measuring Risk; 3.1.1 Risk and return expectations; 3.1.2 How do you measure risk?; 3.1.3 What risks do we compensate for?; 3.2 Types of Risk; 3.2.1 Diversification as a rule reduces or eliminates firm-typical risk; 3.2.2 Modern financial theory is eyeing a certain type of investor 327 $a3.2.3 Measuring market risk: the CAPM (capital asset pricing model) theory 3.2.4 The capital asset pricing model; 3.3 Equity Risk Versus the Risk of Borrowing: Default Risk and the Cost of Debt; 3.3.1 What are the drivers behind default risk?; 3.3.2 The risk-free rate; 3.4 Putting It All Together; 3.5 How Much Risk is There in a Mezzanine Product?; 3.6 Cost Versus Return Dynamics for Mezzanine Products; 4 The 'Pricing' Question and Further Financial Dynamics of Convertible Loans and Preferred Convertible Shares; 4.1 Pricing Grid for Mezzanine Products 327 $a4.2 Financial Dynamics of Convertibility in Convertible Loans and Preferred Convertible Shares 4.2.1 Convertible bonds; 4.2.2 Convertible preferred stock (CPS); 4.2.3 Valuation and pricing of (embedded) options; 4.3 Case Study: JJ Bars & Restaurants - Mezzanine for Expansion; 4.3.1 Europewide Capital Partners; 4.3.2 The Dutch and European restaurant industry; 4.3.3 Industry segments; 4.3.4 JJ Bars & Restaurants; 4.3.5 Datasets; 4.3.6 Questions: JJ Bars & Restaurants; 5 The Mezzanine Product Group and the Financial Industry; 5.1 The Basel Committee and Framework 327 $a5.2 The Evolution of the Basel Rules (Basel I and II)5.2.1 The first pillar; 5.2.2 The second pillar; 5.2.3 The third pillar; 5.2.4 Capital definitions under Basel II; 5.3 Objectives of Basel III and the Central Themes; 5.3.1 Capital definitions under Basel III; 5.4 Impact on the Use of Mezzanine Products in the Financial Sector; 5.5 Regulation in the Insurance Sector Impacting the Use of Mezzanine Products; 5.5.1 Solvency II; 5.5.2 Regulated capital under Solvency II; 5.6 CoCo Bonds - Contingent Convertible Bonds; 5.6.1 Outlook for the product; 5.7 Annex I - Summary Basel III 327 $a5.8 Annex II - Basel III - Specific Features 330 $a"An in-depth explanation of mezzanine financeMezzanine finance products, which have grown increasingly popular in recent years, involve a unique and complex form of analysis because of their hybrid nature. Because mezzanine finance involves no collateral, it accentuates legal terms, term sheets, and contracts, in addition to depicting dynamics of both debt and equity. Experienced chairman, lecturer, and professor of investment banking Luc Nijs presents readers with a thorough description of product groups, structuring and pricing, and cultural discrepancies in terms of regulation and application in Mezzanine Financing: Tools, Applications and Total Performance. Nijs analyzes common triumphs and failures encountered in mezzanine financing, and he discusses techniques for risk analysis and risk mitigation. A final study of international capital markets, their products' relevance, attractiveness, and liquidity, and the effects on pure equity/fixed-income risk concludes the book. Conveys a professional's advice through case studies of various regions, industries and contexts Provides the only complete analysis of mezzanine finance as no other books take on the topic as their only subject Details an increasingly popular and globally relevant subject in finance Those seeking a detailed explanation of the complexities within mezzanine financing will encounter a professional account in Nijs's book"--$cProvided by publisher. 410 0$aWiley finance series. 606 $aFinancial management 606 $aRisk management 606 $aFinance$xLaw and legislation 615 0$aFinancial management. 615 0$aRisk management. 615 0$aFinance$xLaw and legislation. 676 $a658.15/224 686 $aBUS027000$2bisacsh 700 $aNijs$b Luc$0892262 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910142024603321 996 $aMezzanine financing$92168575 997 $aUNINA