Corporate Funding and Risk Management

Speaker:  Derek Taylor  |  CPD Hours: 6.0

Price £595 plus VAT

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This intensive one-day course will demonstrate how and why good treasury practices can be cost-effective and can improve corporate treasury efficiency.

Specifically, we will look at debt finance, both bank and bonds, and concentrate on the management of interest rate risk, the products and hedging methodology.

Derivatives are risk management tools. We will look at the various derivative instruments, how they are used to hedge interest rate risk.


Global Financial Markets and Treasury Overview

  • Defining our terms – capital market inter-relationships
  • Money Markets
  • Medium Term /Syndicated Finance
  • Bond Markets/Equity
  • FX and Derivatives
  • How finance is raised on the Global Markets?

Corporate Treasury Activities – a practical view of the various activities within a Treasury department

  • The need for a Policy and Procedures Manual
  • Ways and means of funding the business
  • Bank lending, syndicated debt finance, bonds and fixed income

Fixed Income (Bond) Markets

  • Money Markets – Short term borrowing
  • Base Rate vs LIBOR
  • Bonds – long term finance
  • Government vs Corporate issues, Corporate Bond spreads

Bond structures, fixed, floating and hybrids

  • Bonds and derivatives
  • The Price/Yield Relationship
  • Credit Ratings and the Ratings Agencies
  • Structured Finance/Securitisation (ABS, MBS, ABCP)

The Bond Issuing Process- the primary market

  • Public offer or Private Placements
  • A focus on the roles of the Issuer, Investor and Intermediary

Yield Curves – The term Structure of Interest Rates

  • Benchmark Yield Curves
  • Models of the Yield Curve: Positive/Negative/Flat/Inverse/Segmented
  • Rationale for shapes

Examples and applications for both corporate issuers and investors


  • First principles of hedging and the tools – Should we be using derivatives?
  • Exchange traded/OTC markets
  • Definition and key features of
    • Interest rate futures/Forward Rate Agreements (FRAs)
    • Options – IROs, caps, collars and floors
    • Interest Rate Swaps – Vanilla IRS, fixed/floating, Basis swaps
    • Credit Derivatives
  • The importance of documentation – ISDA


Anyone who works in accounting, banking, finance or corporate treasury, who needs a greater understanding of bonds, derivatives markets and products.


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