Financing - Debt Finance

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1.5 Credits

This CPE course looks at the different sources of debt finance, and the criteria to consider when trying to manage the risk associated with an entity's debt finance. It concludes by introducing the important lease versus buy decision.


  • Identify and compare alternative methods of raising long-term debt finance.

Major Topics

  • Criteria for selecting appropriate debt instruments (e.g. bank borrowings, bonds, convertible bonds, commercial paper)
  • Target debt profile to manage interest, currency and refinancing risk
  • Use of cross-currency swaps and interest rate swaps to change the currency or interest rate profile of debt
  • Tax considerations in the selection of debt instruments
  • Procedures for issuing debt securities (private placement and capital market issues, role of advisers and underwriters)
  • Debt covenants
  • The lease or buy decision (for both operating and finance leases)

Designed For

CGMA exam candidates Management accountants wanting to develop skills in corporate financial strategy
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