INVESTMENT BANKING

Description

In 2024, the 5 Global Financial Institutions ranked in the first five positions of the annual Refinitiv League Tables advised about 3.2 tn USD of M&A transactions, arranged 36 bn USD IPOs and helped customers place about 2.0 tn USD of global bonds. Although far away from the record peaks of 2021, such figures indicate the relevance that Investment Banking services are playing in the context of financial and capital markets worldwide. The knowledge of which services are provided by these institutions and the understanding of the practice of business in the different products available to the different type of customers – corporate entities, financial institutions, governments/public entities and supranational bodies – are an essential part of the curriculum of a finance student. The course mission is the analysis of the main investment banking business areas. Every business is covered in terms of: a) Asset valuation; b) Deal pricing; c) Deal structuring; d) Processes followed during the transactions and roles played by the investment bank/financial advisor. After an introduction focused on how modern financial institutions set up their strategies in the investment banking competitive arena, the course analyzes the business segments and the products offered to customers. The course is structured in five modules: Debt capital markets: syndicated loans and corporate bonds issues. Equity capital markets services: IPOs, seasoned offers, hybrid securities. Private equity, LBOs and acquisition financing. Corporate financial advisory and M&A. Corporate restructuring and corporate distress. Exchange/course-load context: The official incoming exchange catalogue states that 30xxx codes refer to undergraduate courses, 20xxx and 21xxx codes refer to graduate courses, and 50xxx codes refer to the Integrated Master of Arts in Law. Undergraduate exchange students are allowed to select undergraduate-level courses only; graduate students can choose both undergraduate and graduate level courses. Bocconi credits are ECTS-equivalent. Each Bocconi credit corresponds to 25 hours of workload, including 8 lecture hours.