Description

ABOUT THE COURSE

This corporate finance program is designed to enable relationship bankers in the Middle East to leverage the bank’s capabilities in capital markets and related investment banking areas, and deliver value to clients through cross-selling. Each participant leaves the program with new analytical tools and product ideas for corporate clients.

COURSE OBJECTIVES

• To learn to identify the finance needs of a company, by understanding the corporate CFO’s perspective
• To identify the appropriate application of capital market products and techniques in the Middle East market.
• To unite clients with products and specialists and gain a greater share of client capital markets business.
• To find the drivers of value in each business, by knowing what to look for prior to, during and after the client meeting.

COURSE CONTENTTools of Analysis: Identifying Client’s Corporate Finance Needs

• View clients through a Valuation Framework to discover mismatches between business and financial strategy
• Use pre-meeting checklist and find information sources to diagnose a company’s financial strategy and condition
• Developing flowcharts to match client needs with product solutions
• Use diagram of Investment-Financing-Risk Management Strategies
• Understand how analysis of a company's value can be used in a discussion with clients, and develop a checklist of discussion points.
• Valuation methods: Asset-based, comparables, discounted cash flow, option-based
• Mini-case study: AutoLinks. What are the value-drivers?
• Calculating the cost of capital
• Calculating free cash flows and growth rates
• Valuation techniques: asset value, comparables, discounted cash flow
• Using value drivers to link to ABN AMRO products that add value

Improving Cash Management and Restructuring Debt and Equity

• Cash management and liquidity: priorities for the Treasurer  
• Mini-case study: Sempra. Planning investment, financing, working capital and cash management for a power company
• Corporate financing choices: priorities for the CFO
•  Why companies become underleveraged and overleveraged – and how to fix the imbalance
•  Evaluating financial structure choices by estimating the effective cost of debt financing and equity financing
•  Identify mismatches between operating and financial leverage
• Application to public companies  
• Application to a private company  

 Mergers, Acquisitions & Divestitures; Acquisition Finance

• Types, process and sequence of M&A and divestitures
• Checklist for identifying M&A opportunities
•  Factors determining post-merger performance
• Role of advisors in M&A
• Before-and-after valuation
•  Mini case study: MTC-Celtel. Valuing merger synergies in a competitive acquisition situation.
• Using acquisition finance to leverage the bank’s capital markets and advisory capabilities
• How commercial banks have adopted investment banking techniques
• Employing the bank’s balance sheet and distribution strengths
• Asset-based financing and securitization possibilities
• Bridge financing: the catalyst for acquisitions
• Term loans and revolvers in M&A

Restructuring Ownership and Opportunities for Equity Financing

• Identifying ownership transition and other equity financing opportunities  
• Public, private and corporate equity investors
• Valuation of private equity
• IPOs and other exit strategies