Spring 2024 Finance B8328 section 001

From Feast to Famine & Back Ag

From Feast to Famine & Ba

Call Number 14409
Day & Time
Location
TWRFS 9:00am-5:00pm
870 Kravis Hall
Points 3
Grading Mode Standard
Approvals Required None
Instructor Ellen Carr
Type LECTURE
Method of Instruction In-Person
Course Description This course studies the evolution of the high yield bond and loan markets, and the behavior of market participants from
peak to trough and back again through various credit cycles. Through lectures, case studies, and guest speakers, we
discuss through-cycle changes in valuation, structure, capital raising, liquidity and other investor considerations.
To provide context, we will use the Caesars/Harrah’s 2006 leveraged buyout as a case study that illustrates each phase
of the credit cycle. Four other case studies (HCA, NXP, Realogy and a contemporary case, TWTR) will be used to highlight
the two extremes of the cycle (“feast” and “famine”), and how they build on the calmer (some might even say boring)
phases of the credit cycle.

Students should leave the course with an understanding of the concept of the credit cycle and the ability to identify peak
and trough conditions and behaviors.
Web Site Vergil
Department Finance
Enrollment 67 students (74 max) as of 9:05PM Thursday, December 5, 2024
Subject Finance
Number B8328
Section 001
Division School of Business
Open To Business, Engineering:Graduate, Journalism
Section key 20241FINC8328B001