STRUCTURED FINANCE

The Course focuses on Structured Finance techniques and Capital Markets Products and provides a thorough understanding on ways Investors, Banks and Corporates operate in the Financial sector by means of analysis of specific case studies

Although formal prerequisites are not required, we would suggest to have a basic knowledge of: Financial Math, Corporate Finance & Financial Economics

Knowledge and understanding The student – through course attendance and practical activities – will gain full knowledge of the general principles of capital markets products and structured finance techniques and will develop ability to analyze and solve complex financial corporate finance issues related to debt fund raising, equity fund raising, risk management, M&A and Private Equity transactions. The assessment of the knowledge will take place during the course through practical exercises administered on a regular basis on the different topics, a team group project deliverable (i.e., group presentation) to be submitted and discussed in class at the end of the course lessons as well as through a written exam at the end of the course, including five open questions and three exercises on which students are required to address key specific topics of the program Applying knowledge and understanding Student will be able to apply and make analysis, also to specific cases, on complex structured finance problems assigned to team groups as Project work. The assessment of the ability to ‘apply knowledge and understanding’ will take place during the course through the Team Group Project work presentations, and at the end of the course, through a written exam which requires the students to elaborate and critically comment on open questions and solve financial exercises. Making judgments Students will acquire analytical skills and critical spirit in analyzing structured finance topics. By making use of the appropriate methods learned during the course, students will gain the ability to address structured finance problems and identify possible solutions by applying financial engineering techniques and methodologies. Communication skills By the end of the course, students will be able to assess and interpret with clarity and methodological consistency complex structured finance issues, perform financial analysis and identify solutions that will be presented during the course through group work presentations. The Project work activities will allow students to be able to put these communication skills into practice. Learning skills By putting into practice the methodologies learned during lectures, the student will be able to elaborate insights and conduct research by consulting financial databases, specialist texts and journals. The student will develop a solid knowledge of the fundamental aspects of the structured finance challenges that will allow him/her to carry on also independently further study in Structured & Corporate Finance fields.

Introduction to Structured Finance and Capital Markets participants; fund raising and investments through Capital Markets; Debt Capital Markets financing (bonds and other instruments), asset base financing/securitization, leverage finance and project financing, Equity Capital Markets financing (IPO, Follows on); Derivatives Markets; the role of Capital Markets in M&A activity and processes, SPAC, Private Equity and Venture Capital

Investment Banking - Giuliano Iannotta ed. Springer Financial Markets and Institutions - Frederic Mishkin/Stanley Eakings ed.Pearson

Traditional Lectures, case study analysis and team project work will be carried out during the course to allow students to actively participate in class discussions. Slides and case studies will be used as support material. Guest speakers will be invited to make presentations on specific selected topics. A project work will be assigned to students grouped in teams of 3/4members; teams will be asked to analyze, prepare a presentation and discuss in class a financial transaction related to one of the selected topics of the course. (Securitization, Debt Capital Market, Ipo, Rights issue, Spac, Private Equity/LBO, Leverage Finance, Project Finance, M&A through Capital Markets)

Attendance: Students’ status Compliant Status Students who actively participate in at least 70% of the classes. Not-Compliant Status Students who do not meet the minimum threshold of 70% classroom attendance. Exemption from compulsory attendance Students with proven health issues, documented work commitments/internships, or competitive sports activities recognized by the University. Exemption’s requests are sent and assessed by the Graduate School. Exempted students will be reported to faculty members via MyLuiss. Students participating in an international mobility program (e.g., Double Degree, Erasmus) are also exempted from compulsory attendance. Assessment Methods based on students’ status Compliant Students (Attending) • Continuous Assessment (1/3 of the overall grade): Activities mandatory during the semester (project work team assignement). The evaluation obtained in the continuous assessment cannot be rejected. • Final Exam (2/3 of the overall grade): Individual final exam taken during the exam dates scheduled in the examination session at the end of the semester in which the course is taught. The evaluation obtained in the continuous assessment cannot be rejected. Note: The combination of continuous assessment and final exam is valid only during the exam dates at the end of the semester. In subsequent sessions (retake sessions), the assessment is based only on a final exam (100%). Non compliant and/or Exempted students Final Exam (100% of the overall grade): Individual final exam taken starting from the exam dates scheduled in the examination session at the end of the semester in which the course is taught. It entails an adequate instructional load to compensate for the student’s non-participation in the semester activities. The evaluation obtained cannot be rejected.

N/A