Bank America says this corner of the bond market is a top play for 2024
CNBC: Investing
DECEMBER 21, 2023
These stocks may have been the play for 2023, but for next year Bank of America Securities likes their debt.
Bank Debt Stock 
Distressed Debt Hedge Funds: How to Become a Vulture Capitalist
Mergers and Inquisitions
SEPTEMBER 13, 2023
Ask anyone interested in distressed debt hedge funds for “the pitch,” and they’ll probably mention one of the following: “It’s like long/short equity or credit , but more interesting!” Distressed debt investing offers advantages over other hedge fund strategies , but the marketing often oversells the benefits.
Debt 
103
103 Join 38,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Trending Sources
Stocks Rally and Bond Yields Slide as Fed Signals Rate Cuts in 2024
The New York Times: Banking
DECEMBER 13, 2023
The Fed’s rate increases since March 2022 have sent shock waves through financial markets, raising borrowing costs on things like mortgages and government debt and weighing on the stock market.
Stock 129
129 
Real Estate Crisis Triggers New Alarms Over China’s Shadow Banks
The New York Times: Banking
SEPTEMBER 21, 2023
A financially troubled firm has stopped paying investors, risking panic and testing the Chinese government’s resolve to take on debts from its property crisis.
Debt 143
143 
A $1 Trillion Borrowing Binge Looms After Debt Limit Standoff
The New York Times: Banking
JUNE 7, 2023
The government has avoided default, but the effects of the debt-ceiling brinkmanship may still ripple across the economy.
Debt 87
87 
Bulge Bracket Banks: 2024 Edition
Mergers and Inquisitions
NOVEMBER 22, 2023
I never expected to revisit the topic of bulge bracket banks so quickly because the full list changes slowly, and we updated it a few years ago. What is a “Bulge Bracket Bank”? The name “bulge bracket” (BB) comes from the prospectus for an IPO or debt issuance, which lists all the banks underwriting the deal.
Bulge Bracket 105
105 
Global debt surges past $320 trillion as risk appetite returns- IIF
Global Banking & Finance
DECEMBER 3, 2024
By Libby George LONDON (Reuters) – The world’s debt stock surged by over $12 trillion in the first three quarters of 2024 to a fresh record of nearly $323 trillion, thanks to falling borrowing costs and rising risk appetite, a report by a banking trade group showed on Tuesday.
Debt 59
59 
Can You Supercharge Your Business Growth? The Roll-Up Strategy REVEALED
How2Exit
NOVEMBER 25, 2024
His career transitioned into investment banking and fractional CFO services, where he developed significant expertise in mergers and acquisitions, particularly roll-ups. Utilizing employee stock ownership plans (ESOPs) can ensure business sustainability and protect community interests in rural areas.
Business 130
130 
The Collapse of Silicon Valley Bank: The Start of Great Financial Crisis 2.0?
Mergers and Inquisitions
MARCH 13, 2023
In 24 hours, it went from “We’re fine, but we took some losses and need additional capital” to “The FDIC is taking over, the government has guaranteed uninsured deposits, and there might be additional bank runs and a financial crisis or three.” It’s the second-biggest bank failure in U.S. Silicon Valley Bank did not “fail” in 24 hours.
Bank 123
123 
Panmure Gordon and Liberum agree merger to create new investment banking giant in the UK
The TRADE
JANUARY 16, 2024
Panmure Gordon and Liberum are set to merge to create the UK’s largest independent investment bank, with ex-Barclays executive Rich Ricci stepping into the chief executive role of the combined entity. The deal comes just three months after Deutsche Bank completed the acquisition of institutional broker Numis for £410 million.
Why Investment Banking? How to Answer the Most Boring But Persistent Interview Question of All Time
Mergers and Inquisitions
OCTOBER 16, 2024
“Why investment banking?” and there’s now an overwhelming amount of information online about investment banking. I’ll explain these points here and suggest specific answers to “Why investment banking?” but I’ll start with the short version: Table Of Contents Why Investment Banking: The Short Version “Why Investment Banking?”
How the Fed Cutting Interest Rates Affects Banks, Stocks and More
The New York Times: Banking
SEPTEMBER 17, 2024
For corporate America, this week’s expected interest rate cut carries risks along with rewards.
Banking 88
88 
M&A Blog #19 – valuation (Leveraged Buy Out - LBO)
Francine Way
JULY 17, 2017
Building a historical 3-statement model and a debt-interest schedule. Building the go-forward debt-interest schedule. Implied Equity Purchase Price = Transaction Value - Debt + Cash. For this table, recall that LBO transactions are heavily financed with debt (it can go up to 90% of the capital structure for some deals).
Valuation 130
130 
Corporate Finance Jobs: Cozy Careers, But Bad “Plan B” Options
Mergers and Inquisitions
OCTOBER 30, 2024
Corporate finance jobs at normal companies are bad … …if you’re using them to break into a deal-based field, such as investment banking , private equity , or venture capital , or as a “Plan B” if you interview around but do not get into one of these. not banks or investment firms). What Are Corporate Finance Jobs?
Private Equity Fundamentals: A Comprehensive Course for Beginners
OfficeHours
JUNE 6, 2023
It has become a preferred choice for investors seeking attractive returns and diversification from traditional investment options such as stocks and bonds. Private equity firms also invest in distressed debt or provide private debt financing.
Private Equity 147
147 
Upgrade acquires travel-focused BNPL startup Uplift for a song
TechCrunch: M&A
JULY 27, 2023
Upgrade, a provider of personal credit lines and other consumer financial products, today announced that it’s agreed to acquire Uplift, the buy now, pay later (BNPL) vendor, for $100 million in cash and stock. finance to finance).
Finance 243
243 
M&A Blog #10 – equity (accretion / dilution)
Francine Way
MAY 18, 2017
If you are a homeowner, you know that equity is the part of the home value that you actually own (as opposed to be owned by the bank). The concept can be extended to corporation: equity owners (shareholders) own the company alongside debt holders (banks). The acquisition will be 100% cash, paid for with debt at 4% interest rate.
M&A 130
130 
What’s Behind All the Stock Market Drama?
The New York Times: Banking
AUGUST 7, 2024
Analysts and investors have many explanations, including worries about the health of the U.S. economy and shifts in the value of the Japanese yen.
Stock 117
117 
‘Do You Even Want Us to Exist?’ A Bank Chief Fights to Survive.
The New York Times: Banking
JUNE 14, 2023
The banks at the center of the recent crisis, like Western Alliance, are engaged in collective soul-searching.
Bank 81
81 
06-30-2023 Newsletter: Mastering the Paper LBO: A Crucial Part of the Private Equity Interview Process
OfficeHours
JUNE 30, 2023
To go from equity value to enterprise value, add the net debt (debt minus cash) of the company to equity value. There are a few other elements you can also add, such as preferred stock or noncontrolling interest , to get from equity value to enterprise value. On the source side, you will have two lines: debt and equity.
Private Equity 130
130 
Understanding the Anatomy of a Term Sheet in Investment Banking
Wizenius
MAY 4, 2023
As a finance student, you'll likely come across the term "term sheet" when studying investment banking and finance. In investment banking, a term sheet is a non-binding document that outlines the basic terms and conditions of an investment or financing deal between two parties. What is a Term Sheet?
Morgan Stanley profit exceeds forecasts on dealmaking surge; shares jump to record
Global Banking & Finance
OCTOBER 16, 2024
By Tatiana Bautzer, Manya Saini and Niket Nishant (Reuters) – Morgan Stanley’s profit surpassed estimates on a bumper third quarter for investment banking that had also buoyed rivals, sending its stock to a record.
China’s Property Crisis: Why It’s So Hard for Beijing to Fix
The New York Times: Banking
AUGUST 22, 2023
Beijing has often addressed economic troubles by boosting spending on infrastructure and real estate, but now heavy debt loads make that a hard playbook to follow.
Debt 96
96 
China Faces a Crisis in Its Real Estate Sector
The New York Times: Banking
AUGUST 20, 2023
Beijing wanted to cool its housing market, but created a bigger problem, as the fallout from debt-laden developers and sinking sales spreads to the broader economy.
IT 96
96 
M&A Blog #15 – valuation (tools and data preparation)
Francine Way
JULY 11, 2017
Target’s current stock price: Can be obtained from sources such as Yahoo Finance. Target’s Beta: Can be obtained from sources such as S&P Capital IQ / Value Line reports, Yahoo Finance company profile, or calculated using historical return data of the company’s stock price from Yahoo Finance.
Valuation 130
130 
Stocks Slip as Strong Jobs Report Pushes Bond Yields Higher
The New York Times: Banking
OCTOBER 6, 2023
Employment data for September showed surprising strength in the economy, but that resiliency has become a cause for concern among investors.
Stock 122
122 
Mastering Leverage Will Ensure an ESOP’s Success
PCE
AUGUST 14, 2024
Whether you’re considering selling your company to an employee stock ownership plan (ESOP) to create long-term value for your employees or you’ve already made the transition, you’ll likely use debt to facilitate the transaction. Often, the company will borrow money to acquire shares on behalf of the ESOP.
Debt 52
52 
What is Private Banking and How Does It Work?
Razorpay
DECEMBER 15, 2024
What is Private Banking? Private banking is a personalized financial and wealth management service provided by banks to high-net-worth individuals (HNWIs). Unlike retail banking, which caters to the general public, private banking focuses on delivering banking services for affluent individuals and businesses.
Bank 52
52 
Convertible Securities
Wall Street Mojo
JANUARY 17, 2024
The critical feature of convertible securities is the option it provides to the holder to convert their securities into a predetermined number of shares of the underlying issuer’s common stock. Convertible securities combine features of both debt and equity instruments. What Are Convertible Securities?
Securities 98
98 
Late-Night Negotiating Frenzy Left First Republic in JPMorgan’s Control
The New York Times: Mergers, Acquisitions and Dive
MAY 1, 2023
The resolution of First Republic Bank came after a frantic night of deal making by government officials and executives at the country’s biggest bank.
Negotiation 98
98 
10-20-2023 Newsletter: Why PE Investors Care About Inflation
OfficeHours
OCTOBER 20, 2023
Inflation can also have an impact on the cost of debt required to finance an investment. Inflation itself does not directly affect the cost of debt or interest; rather, since inflation and interest rates are very closely related, changes in inflation impact changes in interest rates. Yes, I’m interested!
Investors 130
130 
Deal Diary: Wachtell, Kirkland Work Nasdaq, Adenza Tie-Up
The Deal
JUNE 22, 2023
billion in cash and stock announced June 12. Goldman Sachs Bank USA and JPMorgan Chase Bank NA are providing Nasdaq with bridge financing for the deal. million shares of its common stock for Adenza, which will give the target’s owners led by Thoma Bravo a 14.9% (NDAQ) turned to regular outside counsel David K.
How do Banks Make Money? Explanation, Examples
Peak Frameworks
OCTOBER 30, 2023
While the term "bank" may conjure a monolithic image, the reality is far more nuanced. The world of banking can be broadly divided into: Retail Banks: Think of your local branch where you have your checking and savings accounts. For example, Wells Fargo and Bank of America are giants in this space. interest annually.
Bank 52
52 
10-23-2023 Newsletter: Why Take-Private Dealmaking Remains Attractive for PE Investors
OfficeHours
OCTOBER 23, 2023
The shares of the company are bought out and delisted from the public stock exchange that the company trades on. Once the terms are agreed upon, the acquisition is financed through a combination of debt and equity from the PE firm , as with a typical transaction.
Investors 130
130 
How to Read a Balance Sheet?
Wall Street Mojo
JANUARY 15, 2024
Liabilities come next, divided into current liabilities (like debts and payables) and long-term liabilities (e.g., Current Assets Below are a few of the items which generally come under this head: Cash: It shows the company’s cash balance, be it the physical cash that they hold or the bank balance. read more other companies.
Accountant 98
98 
Why Take-Private Dealmaking Remains Attractive for PE Investors
OfficeHours
OCTOBER 16, 2023
The shares of the company are bought out and delisted from the public stock exchange that the company trades on. Once the terms are agreed upon, the acquisition is financed through a combination of debt and equity from the PE firm, as with a typical transaction.
Investors 100
100 
Threatened by a Default, Treasuries Retain a Paradoxical Appeal
The New York Times: Banking
JUNE 2, 2023
debt default, yet they remain more attractive than just about everything else, our columnist says. Treasuries have been threatened by a possible U.S.
Debt 77
77 
Trader of the Year Hedge Fund: Conversant Capital’s David Alfred
The TRADE
JANUARY 22, 2025
I spent the first 20 years of my career at the global bulge bracket banks, first in investment banking and then on the institutional equity desks, in a cross-asset and special situations role. I was there through 2015, then Bank of America, before I joined Conversant Capital in early 2021. We are nimble and agile. I believe so.
Funds 59
59 
Convertible Bonds in Today’s Economy
MergersCorp M&A International
JULY 5, 2024
Convertible bonds are a type of security that offers a steady stream of income but also holds the potential for capital appreciation in the form of a stock. Therefore, in the case that the company performs well, and the stock price climbs above the conversion price investors can convert their bonds into shares and capitalize on the growth.
Debt 52
52 
Is Private Equity Right for You?
OfficeHours
AUGUST 9, 2023
Private equity involves investing capital directly into private businesses that are not publicly traded on stock exchanges (that would be a hedge fund). Once improved, the exit can then take place, usually in the form of another sale or an Initial Public Offering (IPO), both of which are usually under the advice of an investment bank.
Private Equity 130
130 
People Moves Monday: Updates from the trading desk
The TRADE
MAY 29, 2023
Head of UBS’ Neo business, Nej D’jelal, left the bank to join the London Stock Exchange Group (LSEG) as head of its Workspace platform, effective from the end of this month. D’jelal joins LSEG after two and a half years at UBS heading up its cross-asset investment banking platform.
Trading 64
64 
State Street to become first foreign participant to trade Korean onshore interbank FX market
The TRADE
JANUARY 2, 2024
Last November, JP Morgan became the first issuer to launch Hong Kong dollar pair FX warrants, set to be traded on the Hong Kong stock exchange, with the move set to enable investors to further diversify their portfolios, offering an alternative investment tool.
Trading 59
59 
The Dividend Discount Model (DDM): The Black Sheep of Valuation?
Mergers and Inquisitions
MAY 3, 2023
But people who aim for investment banking roles are very much into those bells and whistles, so questions about the DDM and other “exotic” methodologies began rolling in. To be fair, in some industries – like commercial banks and insurance within FIG – the DDM is a core valuation methodology.
Valuation 64
64 
Let's personalize your content