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Advanced Debt Capital Markets and Securitisation - LAWS4027
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Faculty: Faculty of Law
 
 
School:  Faculty of Law
 
 
Course Outline: See below
 
 
Campus: Kensington Campus
 
 
Career: Postgraduate
 
 
Units of Credit: 8
 
 
EFTSL: 0.16667 (more info)
 
 
Indicative Contact Hours per Week: 28
 
 
Enrolment Requirements:
 
 
Prerequisite: Academic Program must be either 9200, 9210, 5740 or 9230
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
 

Description

The most significant development in the Australian financial markets over the last decade has been the development of the debt capital markets. Over $221 billion of debt securities are now outstanding domestically. The local and international debt capital markets represent an important source of funds for Australian business and provide competitive tension with the traditional bank lending market. In this advanced course, students will examine in detail the operation of the capital markets and focus on the key legal and other issues relevant to a comprehensive understanding of these markets.


LLM Specialisations

Corporate and Commercial Law; Corporate, Commercial and Taxation Law.

Recommended Prior Knowledge

None

Course Objectives

A candidate who has successfully completed the subject should have:
  • Acquired expansive and comprehensive knowledge of the debt capital markets (how they operate and are regulated, particularly in Australia but also in other areas around the world; the interaction of tax and stamp duty law with debt capital markets issues; the role of rating agencies in a capital markets issue; and the variety of structured capital markets products available)
  • Improved their problem solving skills by completing the take-home exam
  • Improved their ability to analyse and think critically by completing both pieces of assessment
  • Improved their written communication skills by completing the final take home exam
  • Improved their oral communication skills by participating in class discussions where the seminars allow

Main Topics

The course will cover the following:
  • The operation of the capital markets in Australia
  • Disclosure requirements for issues
  • Insolvency in the context of the debt capital markets
  • The operation of the capital markets in the United States, Europe and Asia
  • Tax, stamp duty and rating agency issues relevant to debt capital markets
  • A variety of structured capital markets products, including Securitisation, Hybrids, Subordinated notes and Synthetics

Assessment

Class participation Compulsory presentation (10%) and participation in class (10%) 20%
Take home exam End of session 80%
 

Course Texts

Prescribed
None

Recommended
None

Resources

Reading materials for each topic will be supplied in the lecture prior.

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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.