20 years: Equity capital markets
In the first part of this two part series, Mark talked about the way a calculation agent helps the issuer of a convertible to deal with anti-dilution adjustments and settlement calculations. In this video he talks about the two examples of situations in which he as a calculation agent, help issuers deal with complex calculations on their transactions.
In the first part of this two part series, Mark talked about the way a calculation agent helps the issuer of a convertible to deal with anti-dilution adjustments and settlement calculations. In this video he talks about the two examples of situations in which he as a calculation agent, help issuers deal with complex calculations on their transactions.
Subscribe to watch
Access this and all of the content on our platform by signing up for a 14-day free trial.
7 mins 15 secs
The role of a good calculation agent is much more than typing numbers into a calculator to find the result of a formula. The role requires a thorough understanding of the transaction documents, the market activities that affect transactions, the hedging of transactions, and the processes – both formal and informal – that are needed to make the transaction work and to know how to help the issuer manage all of these items.
Key learning objectives:
Understand how the formula works for fixed rate bonds that include make-whole calls at the time they are called for redemption
Understand how an issuance error is corrected
Access this and all of the content on our platform by signing up for a 14-day free trial.
When a fixed rate bond includes a make whole call, this feature allows the issuer to repay the bonds early, based on a formula that is designed to approximate their fair value, or a small premium to it, at the time they are called for redemption.
Access this and all of the content on our platform by signing up for a 14-day free trial.
There are no available videos from "Mark Dalton"