Introduction

The Underwriting Process

The Primary Market and the Underwriting Process

The Concept of Underwriting

Competitive Bidding

Negotiated Underwriting

Compensation to Underwriters

The Secondary Market

The Instruments

Corporate Bonds

Secured Bonds

Unsecured Bonds

Subordinated Debentures

Special Features Of Corporate Bonds

Sinking Funds

Serial Bonds

Convertible Bonds

Putable Bonds

Refunding Bonds

Zero Coupon Bonds

Understanding Debt Ratings/Credit Ratings

Pricing And Yield Calculations

Current Yield

Yield to Maturity

Yield to Call

Factors Impacting Bond Selection

Bond Yield Differences

1. Bond Quality

2. Maturity

3. Coupon Rate

4. Call Protection

5. Convertibility

Risk Concepts

Interest Rate Risk

Credit Risk

Call Risk

Inflation Risk

Liquidity Risk

Currency Risk

Country Risk

Reinvestment Risk

Term Structure Of Interest Rates

Types of Yield Curves

Fixed Income Investment Strategies

Sales And Suitability Issues

Short-Term Corporate Debt

Commercial Paper

Ratings and Risks

Discounted versus Interest Bearing

Sales and Suitability Issues

Bankruptcy and Creditor Issues

Glossary

Corporate Debt Quiz