International Loans - Fundamentals

This course will help you in understanding the diff erences between domestic and international lending by taking their main aspects (legal, political, social…) into account. In a very detailed way, it will give you a complete description of what international loans are:

• the forms of financing open to a company (loans, non-cash guarantees, bonds and equities) with a complete description of different products: term loan, roll-over, revolving credit, bond guarantee, completion bond, performance bond, bid bond, letter of intent, comfort letter, retention money bond, bond market, capital market and securitization
• the costs related to a lending
• the risk remuneration (the risk components, the reference note, the margin, the fees, the costs, the out-of-pocket expenses)
• the bilateral/syndicated loan facilities: the different phases, step by step, from the beginning until the post-signing phase, as well as the different actors involved, their roles and the strategy to be adopted It also deeply analyses three forms of credits:
• corporate finance, with a clear presentation of the scope of financial needs (asset and liability structure), the definition of cash flow, investments, capital expenditure, debt service cover ratio and some existing forms of financing (money market, foreign exchange, derivative products, committed/uncommitted credit line, term loan)
• structured finance, definition, scope, use of funds and risk evaluation
• securitization, definition, features, advantages and disadvantages