Leveraged Finance: Concepts, Methods, and Trading of High-yield Bonds, Loans and Derivatives

Authors include: Douglas J. Lucas, Frank J. Fabozzi and Stephen J. Antczak.

This is a timely guide to today's high-yield corporate debt markets. Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this experienced author team covers topics ranging from the basics of bonds and loans to more advanced topics such as valuing CDs, default correlations among CLOs, and hedging strategies across corporate capital structures. Additional topics covered include basic corporate credit, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. This title presents real-market examples of how investors can identify investment opportunities and how to express their views on the market or specific companies through trading strategies. It examines various underlying assets - loans, corporate bonds, and much more. It offers an overview of synthetic and structured products such as CDSs, LCDSs, CDXs, LCDXs, and CLOs. Leveraged Finance has the information you need to succeed in the evolving financial arena.