000			08047cam a2200541 i 4500
001			u12549
003			SA-PMU
005			20210418123859.0
008			151203s2016 enk 001 0 eng
010			_a 2015042482
040			_aDLC _beng _erda _cDLC _dYDX _dYDXCP _dBDX _dOCLCF _dOCLCQ _dH9Z _dSFR
019			_a960169449
020			_a9781119134411 _q(hardback)
020			_a1119134412 _q(hardback)
035			_a(OCoLC)923648942 _z(OCoLC)960169449
037			_bJohn Wiley & Sons Inc, Order Processing Dept 432 Elizabeth Ave, Somerset, NJ, USA, 08873 _nSAN 200-2272
042			_apcc
050	0	0	_aHG4651 _b.B294 2016
082	0	0	_a332.63/23 _223
084			_aBUS004000 _2bisacsh
100	1		_aBagaria, Rajay, _d1977- _eauthor.
245	1	0	_aHigh yield debt : _ban insider's guide to the marketplace / _cRajay Bagaria.
264		1	_aChichester, West Sussex : _bWiley, _c2016.
300			_axxii, 176 pages ; _c24 cm
336			_atext _btxt _2rdacontent
337			_aunmediated _bn _2rdamedia
338			_avolume _bnc _2rdacarrier
500			_aIncludes index.
520			_a"Examine the high yield market for a clear understanding of this evolving asset class High Yield Debt is the one-stop resource for wealth advisors seeking an in-depth understanding of this misunderstood asset class. The high yield market provides a diverse opportunity set, including fixed and floating rate debt, high and low quality debt issues and both short- and long-term duration; but many fail to understand that not all high yield exposure is the same, and that different market segments and strategies work best at different points in the economic cycle. This guide addresses the confusion surrounding high yield debt. You'll find the information you need to decide whether or not to buy in to a high yield fund, and how to evaluate the opportunities and risks without getting lost in the jargon. The U.S. corporate high yield market is worth $2.4 trillion--more than the stock markets of most developed countries. Market growth has increased the number of funds with high yield exposure, as well as the types of debt products available for investment. This book breaks it down into concrete terms, providing the answers advisors need to effectively evaluate the opportunities on offer. Understand the high yield asset class Learn the debt structures, performance and defaults Evaluate risk and investment opportunities Penetrate the jargon to make sense of high yield investment Over 300 publicly traded funds provide exposure to U.S. high yield, but despite it's size and ubiquity, understanding of the asset class as a whole remains somewhat of a rarity--even among participants. A lack of transparency is partially to blame, but the market's evolution over the past fifteen years is the larger issue. High Yield Debt explains the modern high yield market in real terms, providing a much-needed resource for the savvy investor"-- _cProvided by publisher.
520			_a"Investors, wealth advisors, investment bankers, business school students, lawyers, accountants, rating agencies and research providers are increasingly faced with difficult questions on high yield. The press frequently uses jargon that even experienced market participants have difficulty understanding. At present, there are few resources that market participants can look to for answers. While other books on the high yield market are specialized, most market participants are engaged at a level where they are simply deciding whether to buy into a high yield fund and, if so, which one. The book addresses this knowledge gap and is intended as a one stop shop for the widest possible audience, explaining high yield debt, articulating how to evaluate risk (is it junk or something more) and how to make sense of the opportunity set"-- _cProvided by publisher.
505	0	0	_aMachine generated contents note: _gch. 1 _tDevelopment of the High Yield Industry -- _g1.1. _tWhat is High Yield Debt? -- _g1.2. _tThe Importance of Credit Ratings -- _g1.3. _tThe Origins of High Yield -- _g1.4. _tAdvent of the Leveraged Buyout -- _g1.5. _tJunk Bonds -- _g1.6. _tMarket Maturation and Growth -- _g1.7. _tHigh Yield Today -- _g1.8. _tSummary -- _gch. 2 _tHigh Yield Issuers -- _g2.1. _tHigh Yield Issuers -- _g2.2. _tCapital Structure Considerations -- _g2.3. _tChoosing Between High Yield Bonds and Leveraged Loans -- _g2.4. _tHigh Yield Issuers by Industry -- _g2.5. _tPurpose of High Yield Debt -- _g2.6. _tThe Role of Investment Banks -- _g2.7. _tThe High Yield Capital Raising Process -- _g2.8. _tSummary -- _gch. 3 _tBuying High Yield Debt -- _g3.1. _tWho Can Buy High Yield Bonds? -- _g3.2. _tWho Can Buy Leveraged Loans? -- _g3.3. _tBuyers of High Yield Debt -- _g3.4. _tInvestment Mandates Impact Volatility -- _g3.5. _tCollateralized Loan Obligations (CLOs) -- _g3.6. _tImplications of an OTC Market -- _g3.7. _tTracking High Yield Liquidity -- _g3.8. _tTotal Return Swaps and Margin Finance -- _g3.9. _tSummary -- _gch. 4 _tHigh Yield Financial Concepts -- _g4.1. _tKey Economic Terms of High Yield Debt -- _g4.2. _tHigh Yield Call Protection -- _g4.3. _tFixed Versus Floating Rate Debt -- _g4.4. _tBond Yields, the Risk-Free Rate, and Credit Spreads -- _g4.5. _tMore Advanced Yield and Spread Concepts -- _g4.6. _tCommon Issuer Metrics Tracked -- _g4.7. _tSummary -- _gch. 5 _tDebt Structures -- _g5.1. _tRanking and Subordination -- _g5.2. _tOperating and Holding Companies -- _g5.3. _tLeveraged Loan Structures -- _g5.4. _tHigh Yield Bond Structures -- _g5.5. _tPayment-in-Kind Debt -- _g5.6. _tAHYDO -- _g5.7. _tSummary -- _gch. 6 _tCredit Agreements and Legal Considerations -- _g6.1. _tLoan Credit Agreements and Bond Indentures -- _g6.2. _tRoadmap to High Yield Documentation -- _g6.3. _tAffirmative and Negative Covenants -- _g6.4. _tIncurrence-Based Versus Maintenance Covenants -- _g6.5. _tCovenant-Lite -- What Does It Mean? -- _g6.6. _tMore Advanced Credit Agreement Provisions -- _g6.7. _tSacred Rights and Bankruptcy Resolution -- _g6.8. _tRecent Legislation -- _g6.9. _tSummary -- _gch. 7 _tHigh Yield Asset Class Performance -- _g7.1. _tTotal Returns, Volatility, and the Sharpe Ratio -- _g7.2. _tComparative Asset Class Performance -- _g7.3. _tAnnual Performance Variations -- _g7.4. _tHigh Yield Bond and Leveraged Loan Price Volatility -- _g7.5. _tReturns by Ratings -- _g7.6. _tBeta and Correlation Analysis -- _g7.7. _tInterest Rate Risk -- _g7.8. _tDefaults and Recoveries -- _g7.9. _tSummary -- _gch. 8 _tAssessing the Market Opportunity -- _g8.1. _tSources of Market Information -- _g8.2. _tHow to Evaluate High Yield Credit Spreads -- _g8.3. _tPutting Historical Credit Spreads into Context -- _g8.4. _tTracking Issuer Fundamentals -- _g8.5. _tThe Maturity Wall -- _g8.6. _tMonitoring Excessive Risk-Taking -- _g8.7. _tHigh Yield Supply and Demand -- _g8.8. _tSummary -- _gch. 9 _t1940 Act High Yield Investment Funds -- _g9.1. _tThe Investment Company Act of 1940 -- _g9.2. _tHigh Yield Mutual Funds -- _g9.3. _tHigh Yield ETFs -- _g9.4. _tHigh Yield Closed-End Funds -- _g9.5. _tComparison of Closed-End and Open-End Fund Returns -- _g9.6. _tBusiness Development Companies -- _g9.7. _tSummary -- _gch. 10 _tMezzanine Debt, Distressed Debt, and Credit Hedge Funds -- _g10.1. _tPrivate Investment Funds -- _g10.2. _tMezzanine Debt Funds -- _g10.3. _tDistressed Debt Funds -- _g10.4. _tCredit Hedge Funds -- _g10.5. _tSummary.
650		0	_aJunk bonds.
650		0	_aCapital market.
650		0	_aBusiness cycles.
650		7	_aBUSINESS & ECONOMICS _xBanks & Banking. _2bisacsh
650		7	_aBusiness cycles. _2fast _0(OCoLC)fst00842457
650		7	_aCapital market. _2fast _0(OCoLC)fst00846356
650		7	_aJunk bonds. _2fast _0(OCoLC)fst00984984
776	0	8	_iOnline version: _aBagaria, Rajay, 1977- _tHigh yield debt. _dHoboken : Wiley, 2016 _z9781119134435 _w(DLC) 2015047696
856	4	2	_3Cover image _uhttp://catalogimages.wiley.com/images/db/jimages/9781119134411.jpg
938			_aBrodart _bBROD _n114078106
938			_aYBP Library Services _bYANK _n12637949
029	1		_aGBVCP _b842516689
942			_cBOOK
994			_aZ0 _bSUPMU
948			_hNO HOLDINGS IN SUPMU - 54 OTHER HOLDINGS
596			_a1 2
999			_c5092 _d5092