Leveraged Finance - Concepts, Methods, and Trading of High-Yield Bonds,
Loans, and Derivatives
Book description
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.
Stephen Antczak, Douglas Lucas, and Frank Fabozzi present readers with
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, and examine various underlying
assets including loans, corporate bonds, and much more. They also offer
readers an overview of synthetic and structured products such as CDS,
LCDS, CDX, LCDX, and CLOs. Leveraged Finance
has the information you need to succeed in this evolving financial
arena. Stephen J. Antczak, CFA
, is an Executive Director at UBS. Prior to joining UBS in 2001, he was
a senior strategist at Merrill Lynch, and he has also worked at the
Bureau of Labor Statistics as an economist. Antczak graduated from the
University of Michigan with a BA in economics and an MBA in business
economics and finance.
Douglas J. Lucas has been a Group Managing Director and
Director of Ratings Research at Moody's Investor Service since
November 2008. Prior to that, he was head of CDO Research at UBS.
Lucas has a BA magna cum laude in economics from UCLA and an MBA with
Honors from the University of Chicago.
Frank J. Fabozzi, PhD, CFA, CPA, is Professor in the Practice
of Finance and Becton Fellow at Yale University's School of
Management, Editor of the Journal of Portfolio Management, and
Associate Editor of the Journal of Structured Finance and the
Journal of Fixed Income.
