Certificate Course
Certificate Course
22 - 26 January 2018
De Vere Holborn Bars, 138-142 Holborn, London EC1N 2NQ
The LMA Certificate Course is a one week training course aimed at those working in the banking and institutional investor markets looking to gain a broad understanding of the workings of the primary and secondary syndicated loan market. The course can be for those working in the legal profession, but they might find the two-day Syndicated Loans Course for Lawyers more appropriate.
This event is offered only to members of the LMA. Members will first need to have logged on using their individual username and password in order to utilise the red 'Book Now' icon below and apply.
The course fee is £1,850 (plus VAT) which covers all tuition, lunches, refreshments and course materials. Payment is expected in advance of attendance. Those who cancel their attendance on/after 18 December 2017, will be eligible for the full cost of the course. After this time, a substitute delegate can be nominated prior to the start of the course or, in exceptional circumstances, a delegate can be switched to a later course, subject to the LMA being able to find a replacement.
Click on Event Agenda above to view the outline of the programme.
Duration: 22 - 26 January 2018
Who can attend: Members Only
Price: £1,850 + VAT
Status: This event is now oversubscribed.
Contact Name: Meike Martin
Contact Email: meike.martin@lma.eu.com
Certificate Course
22 - 26 January 2018
De Vere Holborn Bars, 138-142 Holborn, London EC1N 2NQ
The LMA Certificate Course is a one week course providing detailed tuition, with use of case studies and workshops, on all aspects of the primary and secondary markets. It does not include specific training on LMA standard documentation - separate courses are held on this topic.
The LMA Certificate Course is designed for those who are:
- Bankers and institutional investors relatively new to international banking or experienced but in a different product/business area; or
- Practitioners, working in one segment of the loan market such as agency & compliance, who require a broader overview of the various activities which make up the syndicated loan market; or
- Junior personnel in origination, distribution or a trading team; or
- Seeking to enter a syndication team and need to develop their knowledge of the market; or
- Practitioners in other product groups, such as bonds, CDS and relative value, who require an insight into the syndicated loan market.
Course Format
The one week full-time course is based around a series of formal lectures delivered by various experienced market practitioners and lecturers, interspersed with workshops and case studies. The course is restricted to a maximum of 20 delegates.
An examination is held at the end of the course.
Day 1
Introduction to the Market and Definitions
- Overview of product and market definitions, market statistics and transaction timetable
- Term sheets and introduction to documentation
- Assessment of term sheet proposals from a borrower's viewpoint
- Responsibilities in a syndication unit: separating the functions
- The debt market in the context of the capital markets spectrum with case study
- Rating process and classification
Day 2
Pricing in the Primary Market
- Maths for the loan market
- Evaluating alternative solutions to a borrower's needs with case study
- Pricing a new transaction: sources of information and practical exercises
- Yield calculations using case studies.
- Impact of syndication strategy on yields
Day 3
Syndication Strategies
- Review of market data
- Discussion of allocated roles in a syndication
- Preparing a proposal - case study
- Agency functions with case study
- Training on Dealogic Loan Analytics database
Day 4
Portfolio Management and Secondary Market
- Portfolio management
- Capital constraints - commentary and definitions relating to Basel
- Types of investors in the loan market
- Developments and participants in the secondary loan market
- Market makers and characteristics of the secondary loan market
- Structures and secondary pricing
- Comparative pricing and structural complications
Day 5
Secondary Market cont., Regulations and Conduct
- Secondary pricing case study
- Confirmations, transfers and completion of a trade
- Regulations and conduct
- Examination