The debt markets are far larger than the equity markets, and yet get far less media attention. This is the first of two pathways that provide an extensive overview of the debt capital markets, starting with the basics.
Watch all the videos and pass the test to obtain a certificate showing your completion of this Pathway. Certificates can be shared directly to your LinkedIn profile and social media accounts.
15 videos • 3 hours 16 minutes
In his first video on benchmark curves, Nigel begins by explaining the benchmark curves which are used in global debt markets. Each benchmark curve is the foundation for bond pricing in its relevant market. This video will shed light on the ‘US treasury benchmark curve’, ‘Euro benchmark swap rate curve’ and the ‘Sterling benchmark gilt curve’.
Nigel Owen • 10:33
The concept of risk-free debt is deeply embedded in financial markets as short-hand for high-quality liquid debt that retains its value over time. In the first video of this series, Keith explains what is meant by "risk-free" and how nothing in financial markets can ever carry zero risk.
Keith Mullin • 09:41
The government bond market is huge - at the end of 2018 it was estimated to be in the region of 66 trillion dollars. In this video, Tim provides an introduction to government bonds and compares purchasing these from countries around the world.
Tim Skeet • 06:56
In 2018, sovereigns, supranationals and agencies around the globe issued a total of 1.4 trillion US dollars worth of new debt in the public syndicated debt capital markets. Tim explains the process in which these syndicated bonds are issued.
Tim Skeet • 03:24
A Medium-Term Note, or MTN, is a form of privately placed debt in a bond format. In this video, Aya answers the questions: what is a MTN, what is a private placement and what are the differences between MTNs and Public Benchmark Transactions?
Aya Suzuki • 10:17
Green bonds are a variant of conventional bonds, where the key point of distinction is the use of proceeds. Green bonds follow Green Bond Principles outlined by the International Capital Market Association, and the proceeds from the issuance of the bond are specifically earmarked for climate and/or environmental projects. In this video, Tim Skeet provides an introduction to Green Bonds, and highlights their key attributes.
Tim Skeet • 13:49
Preference shares were initially a form of ‘temporary rescue' capital used by companies in distress. Today, however, preference share capital is used far more broadly and represents a stable form and source of capital. Prasad explains how preference shares are issued, the different types that exist and how they are priced.
Prasad Gollakota • 18:33