Corporate Funding Techniques

Opening practical study: optimising a corporation’s capital structure

Enhancing Shareholder Value with an Optimal Financing Mix

• Accounting standards (IRFS-US Gaap)
• Main tax regimes (holding/subsidiaries; tax consolidation)
• The connection between commercial and investment banking
• Capital structure and financial information

• Practical workshop

• Funding a capital intensive business

Capital Structure and Financial Information

• On and off balance sheet financing
• How to rank quasi capital instruments
• Required rate of return and financial disclosure

• Practical workshop

• Influence of working capital needs on the company’s valuation

Impact of Funding Strategies on Shareholder Value

• Consequence of funding choices on risk and value for shareholders, leverage and term optimisation

• Practical workshop

• Analysis of the funding choices of a listed group of companies over time

Review of Long Term Financing Instruments: Asset Finance

• Acquisition finance: objectives and methods of private equity

• Practical workshop

• Value a public to private over several years
• Leasing: financing off balance sheet assets, accounting and tax aspects, banking market conditions

• Practical workshop

• Example of the financing of a vehicle flotilla and cross-border lease
• Financing Public and Private Partnerships: cash flow-based financing

• Practical workshop

• Example of urban PPP

Summary and Conclusion

• Inventory of available funding resources
• How to optimise leverage and capital structure
• How shareholders strategies impact the funding mix (public and private companies)