When companies need fuel to grow, bonds may be the way to go. Traditional blue-chip firms and dot-com startups alike can use debt strategically as a key financial instrument. The critical challenge, however, is integrating corporate debt into core business strategies and established financial policies. This practical book provides practitioners in every industry with a comprehensive, prudent approach to managing corporate debt obligations. Written by leading experts in the field and drawing from case studies of real companies, Debt Management walks financial professionals through the entire decision-making process--from designing debt issues to retiring debt through bond redemptions and bond repurchases, all to meet corporate financial objectives. Unique in its presentation of the issuer's perspective--that is, it looks at debt from the company's viewpoint, and not just the buyer's or underwriter's--this work will be the industry reference on debt management and the corporate
financier's desktop consultant for years to come. With insights into how factors such as bond valuation methodologies, derivatives, and tax and regulatory restrictions affect the process, the authors provide practitioners in both the U.S. and international debt markets with the information and tools needed to make smart debt-management decisions. With first-rate thinking in finance, while keeping the complex mathematics to a minimum, this volume will prove as handy as it is indispensable--the essential reference for planning, implementing, and managing corporate debt with discretion and confidence.
Industry Reviews
"Debt Management should be on the bookshelf of all chief financial officers and corporate treasurers. Finnery and Emery clearly explain how to design an optimal debt instrument to minimize funding costs and how to deal with the refunding decision after issuance."--Frank J. Fabozzi, President, Frank J. Fabozzi Associate, and Adjunct Professor of Finance, School of Management, Yale University
"This book is an invaluable resource to corporate and municipal finance practitioners confronted by the many challenges of debt management. The thorough, scholarly treatment includes both the underpinnings of fixed income theory and real-life illustrations ranging from straightforward bond refundings to subtle tax-driven exchanges."--Andrew Kalotay, Ph.D., Member, Fixed Income Analysts Society Hall of Fame
"Debt Management covers the subject exhaustively, from basic concepts to the most up-to-date techniques. Finnerty and Emery write with commendable clarity and a solid grounding in both the theory and practice of finance. Treasurers and chief financial officers will serve their shareholders well by referring to this book regularly."--Martin Fridson, Chief High Yield Strategist, Merrill Lynch & Co.
"Debt Management should be on the bookshelf of all chief financial officers and corporate treasurers. Finnery and Emery clearly explain how to design an optimal debt instrument to minimize funding costs and how to deal with the refunding decision after issuance."--Frank J. Fabozzi, President, Frank J. Fabozzi Associate, and Adjunct Professor of Finance, School of Management, Yale University
"This book is an invaluable resource to corporate and municipal finance practitioners confronted by the many challenges of debt management. The thorough, scholarly treatment includes both the underpinnings of fixed income theory and real-life illustrations ranging from straightforward bond refundings to subtle tax-driven exchanges."--Andrew Kalotay, Ph.D., Member, Fixed Income Analysts Society Hall of Fame
"Debt Management covers the subject exhaustively, from basic concepts to the most up-to-date techniques. Finnerty and Emery write with commendable clarity and a solid grounding in both the theory and practice of finance. Treasurers and chief financial officers will serve their shareholders well by referring to this book regularly."--Martin Fridson, Chief High Yield Strategist, Merrill Lynch & Co.
