• Study Resource
  • Explore Categories
    • Arts & Humanities
    • Business
    • Engineering & Technology
    • Foreign Language
    • History
    • Math
    • Science
    • Social Science

    Top subcategories

    • Advanced Math
    • Algebra
    • Basic Math
    • Calculus
    • Geometry
    • Linear Algebra
    • Pre-Algebra
    • Pre-Calculus
    • Statistics And Probability
    • Trigonometry
    • other →

    Top subcategories

    • Astronomy
    • Astrophysics
    • Biology
    • Chemistry
    • Earth Science
    • Environmental Science
    • Health Science
    • Physics
    • other →

    Top subcategories

    • Anthropology
    • Law
    • Political Science
    • Psychology
    • Sociology
    • other →

    Top subcategories

    • Accounting
    • Economics
    • Finance
    • Management
    • other →

    Top subcategories

    • Aerospace Engineering
    • Bioengineering
    • Chemical Engineering
    • Civil Engineering
    • Computer Science
    • Electrical Engineering
    • Industrial Engineering
    • Mechanical Engineering
    • Web Design
    • other →

    Top subcategories

    • Architecture
    • Communications
    • English
    • Gender Studies
    • Music
    • Performing Arts
    • Philosophy
    • Religious Studies
    • Writing
    • other →

    Top subcategories

    • Ancient History
    • European History
    • US History
    • World History
    • other →

    Top subcategories

    • Croatian
    • Czech
    • Finnish
    • Greek
    • Hindi
    • Japanese
    • Korean
    • Persian
    • Swedish
    • Turkish
    • other →
 
Profile Documents Logout
Upload
OPIC Support for Innovative Financial Intermediaries in
OPIC Support for Innovative Financial Intermediaries in

... Since 2008 $160 Billion has been invested by private equity investors across emerging markets, the majority of which has been concentrated in 25 countries that constitute a number of prominent emerging markets. Frontier markets which are a subset of emerging markets and have characteristics of being ...
Embargoed for release 7
Embargoed for release 7

... conditions continued to be mixed. While Winterflood experienced stronger volumes, trading was more volatile and retail investors remain focused on lower risk and large cap stocks. As a result, income per bargain reduced, partially offsetting the increase in average bargains per day. Seydler’s perfor ...
IFM7 Chapter 27
IFM7 Chapter 27

... What problems do not-for-profit businesses encounter when they attempt to implement the trade-off theory?  The major problem is their lack of flexibility in raising equity capital.  Not-for-profit firms do not have access to the typical equity markets. It’s harder for them to raise fund capital.  ...
CHAPTER 9 The Cost of Capital
CHAPTER 9 The Cost of Capital

... Therefore, preferred stock often has a lower B-T yield than the B-T yield on debt. The A-T yield to an investor, and the A-T cost to the issuer, are higher on preferred stock than on debt. Consistent with higher risk of preferred stock. ...
Some Basics of Venture Capital
Some Basics of Venture Capital

... • Generally company wants large V, VC small V, but there are many subtleties… • This round’s V will have an impact on future rounds • Possible elements of valuation: – Multiple of revenue or earnings – Projected percentage of market share ...
Developed market equities
Developed market equities

... assessment of the legal, regulatory, tax, credit, and accounting implications and determine, together with their own professional advisers, if any investment mentioned herein is believed to be suitable to their personal goals. Investors should ensure that they obtain all available relevant informati ...
DOC - Europa.eu
DOC - Europa.eu

... Both these proposals are due to presented by the Commission in the coming weeks. Other actions relate to the ongoing calibration of the regulatory framework to ensure that it most effectively enables the financial sector to support the real economy, without jeopardising financial stability. For exam ...
Why Project Finance
Why Project Finance

... resource or other asset where the bulk of the financing is to be provided by way of debt and is to be repaid principally out of the assets being financed and their revenues” • The following things need attention – There is special purpose company (SPV) – a single purpose company – whose principal as ...
25648 Demonstrate understanding of investment concepts
25648 Demonstrate understanding of investment concepts

... Financial situation – incorporates variables such as a client’s balance of assets, liabilities, incomes, risks, needs and expectations. Financial solution – recommendations on use of particular financial products and/or services to fit the financial strategy. Financial strategy – broad plan that acc ...
africa governance conference 2012
africa governance conference 2012

... These indicators may be associated with higher levels of investment and employment creation in the respective countries Role of the NSE in Kenya: ...
Infrastructure - Debt and Equity Investments for UK Insurers
Infrastructure - Debt and Equity Investments for UK Insurers

... Insurance and reinsurance undertakings may apply a matching adjustment […] where the following conditions are met: […] (c) the expected cash-flows of the assigned portfolio of assets replicate each of the expected cashflows of the portfolio of insurance or reinsurance obligations (h) the cash-flows ...
Beyond Corporate Social Responsibility: The
Beyond Corporate Social Responsibility: The

... Enhanced brand image and reputation: community investment can open up new markets, reduce local regulatory obstacles, provide access to the local political process, generate positive media coverage and increase company or brand awareness within the community. Community investment as a strategic acti ...
Neuberger Berman NVIT Socially Responsible Fund
Neuberger Berman NVIT Socially Responsible Fund

... Defensive Consumer Defensive Healthcare Utilities ...
es220050945197.ps, page 1-3 @ Normalize_2 ( cs220050945197 )
es220050945197.ps, page 1-3 @ Normalize_2 ( cs220050945197 )

... activity, solely for the purposes of carrying on securities or futures contracts management, as the case may be, under a collective investment scheme is to be excluded from the definitions; (b) the definition of “asset management” is amended to become “securities or futures contracts management” and ...
Shenkman Capital Management, Inc - Profile
Shenkman Capital Management, Inc - Profile

... performance and trends, including liquidity, cash flow and a break-even analysis. Shenkman Capital also focuses on capital structure, covenants, management track record, relative value, and a comparative industry analysis. The objective of this detailed review is to identify “money-good” bonds, ones ...
Powerpoint presentation on external debt
Powerpoint presentation on external debt

... Nigeria’s external debt had not generated much of a public concern at this time because Nigeria was experiencing oil-boom, and she was able to repay and service her debt. At the beginning of 1980s when Nigeria experienced oil-price shocks, external debt became topical issue of discussion and a sou ...
medical properties trust, inc. mpt operating - corporate
medical properties trust, inc. mpt operating - corporate

... in Remedco Holding B.V., an affiliate of Waterland V. We funded the loans to affiliates of Waterland V and Median by borrowing under our revolving credit facility. In a series of transactions we expect will be completed during the first quarter of 2015, subsidiaries of our Operating Partnership will ...
Theory of the Firm: Managerial Behavior, Agency Costs and
Theory of the Firm: Managerial Behavior, Agency Costs and

... • tastes of managers, the ease with which they can exercise their own preferences as opposed to value maximization in decision making, and the costs of monitoring and bonding activities. • cost of measuring the manager’s (agent’s) performance and evaluating it, the cost of devising and applying an i ...
Private Equity Investment in Latin America
Private Equity Investment in Latin America

... framework to enforce minority rights, and the potential inability of the local judiciary system to resolve controversies efficiently. As in any direct investment, there is the risk of changes in or disagreements with regard to either the goals of the Company or the interests and expectations of the ...
ECONOMICS and FINANCE
ECONOMICS and FINANCE

... A security (also called a financial instrument) is a claim on the issuer's future income or assets (any financial claim or piece of property that is subject to ownership). A bond is a debt security that promises to make payments periodically for a specified period of time. Debt markets, also often r ...
Downgrade risk of South Africa`s sovereign debt
Downgrade risk of South Africa`s sovereign debt

... Momentum Investments’ portfolios are constructed and positioned to deliver on the robustness that clients have come to expect from an outcome-based investment philosophy and process over appropriate investment horizons. In the current economic and financial climate, the company’s portfolios have a w ...
SEB Företagsinvest
SEB Företagsinvest

... KTH Seed Capital invests in early stage high-tech companies relating Research and Development at Royal Institute of Technology (KTH). Develops and sells a software platform to telecom operators to help in their process of trading, pricing and ...
TO THE COMISIÓN NACIONAL DEL MERCADO DE
TO THE COMISIÓN NACIONAL DEL MERCADO DE

... ("MERLIN Properties") by which the latter will acquire a majority shareholding in the share capital of Testa Inmuebles en Renta, S.A. ("Testa") orchestrated in several phases, the 34,810,520 remaining shares of Testa owned by Sacyr were transferred to MERLIN. Following the transfer of the shares com ...
Prudential Jennison Mid Cap Growth A LW
Prudential Jennison Mid Cap Growth A LW

... thus leading to a mid-cap profile, but others focus on midsize companies. Mid-cap growth portfolios target U.S. firms that are projected to grow faster than other mid-cap stocks, therefore commanding relatively higher prices. The U.S. mid-cap range for market capitalization typically falls between $ ...
2014-2015 Asset Worksheet
2014-2015 Asset Worksheet

... These figures MUST reflect your assets as of the date your original FAFSA was filed. ...
< 1 ... 41 42 43 44 45 46 47 48 49 ... 75 >

Leveraged buyout



A leveraged buyout (LBO) is a transaction when a company or single asset (e.g., a real estate property) is purchased with a combination of equity and significant amounts of borrowed money, structured in such a way that the target's cash flows or assets are used as the collateral (or ""leverage"") to secure and repay the borrowed money. Since the debt (be it senior or mezzanine) has a lower cost of capital (until bankruptcy risk reaches a level threatening to the lender[s]) than the equity, the returns on the equity increase as the amount of borrowed money does until the perfect capital structure is reached. As a result, the debt effectively serves as a lever to increase returns-on-investment.The term LBO is usually employed when a financial sponsor acquires a company. However, many corporate transactions are partially funded by bank debt, thus effectively also representing an LBO. LBOs can have many different forms such as management buyout (MBO), management buy-in (MBI), secondary buyout and tertiary buyout, among others, and can occur in growth situations, restructuring situations, and insolvencies. LBOs mostly occur in private companies, but can also be employed with public companies (in a so-called PtP transaction – Public to Private).As financial sponsors increase their returns by employing a very high leverage (i.e., a high ratio of debt to equity), they have an incentive to employ as much debt as possible to finance an acquisition. This has, in many cases, led to situations, in which companies were ""over-leveraged"", meaning that they did not generate sufficient cash flows to service their debt, which in turn led to insolvency or to debt-to-equity swaps in which the equity owners lose control over the business and the debt providers assume the equity.
  • studyres.com © 2026
  • DMCA
  • Privacy
  • Terms
  • Report