Course description
With unprecedented levels of market volatility and uncertainty, the role of primary markets in providing funding has never been more important. With limitations on their capital, banks can no longer play a dominant role in providing finance and the securities markets have increasingly taken up the task of key provider of funds.
This qualification offers participants a broad overview of international finance, from the different entities requiring finance to the roles of the banks and securities markets in providing that finance.
Upcoming start dates
Suitability - Who should attend?
Given the increasingly dominant role of the primary markets, anyone with an interest in international finance will benefit from the programme.
This is an entry-level qualification requiring only the most basic understanding of debt and equity. However, the course also serves as a valuable basis for the more advanced and detailed study offered in the ICMA Primary Market Certificate (PMC).
Candidates should have basic quantitative skills but no prior study or work experience is required.
Outcome / Qualification etc.
By completing this course you will be able to:
- Identify the key users and providers of finance in the primary markets and their differing needs
- Understand the key attributes of debt and equity from a primary market perspective, and key concepts of corporate finance such as CAPM and WACC
- Understand the key financing characteristics of the term loan market, the bond markets and equity markets
- Examine the importance of securities investors and basic concepts of modern portfolio theory
- Understand the different methods of underwriting and syndication in the primary markets
- Examine the different methods of distribution and allocation
- Review the key contractual documents in launching an international financing and the key regulations that impact the primary markets
Training Course Content
An Introduction to International Financing
- The Primary Markets
- Debt & Equity Capital Markets
- Sources of Finance
- The Capital Structure
- Investor Considerations
- Risk & Return
Forms of Issuance
- The Loan Market
- Syndicated Loans
- Equity
- Bonds
- Green, Social & Sustainability Financing
Syndication & Distribution
- Accessing the Markets
- The DCM Deal Process
- Geographical Considerations
- Allocation & Pricing
- Stabilisation
- Listing, Closing & Settlement
The Regulatory Framework
- Key Parties & Key Documentation
- The Prospectus
- Compliance
- Regulation & Other Considerations
- MiFID & MiFID II
Course delivery details
Delegates who sign up to online courses will have access for 6 months to enable them to take advantage of the additional online resources, discussion boards and other functions of our new digital learning platform.
Online courses start at the beginning of each month – please note that payment must be received BEFORE access to these courses are provided.
Classroom Course
Our classroom courses are delivered in-person at a confirmed location.
The Introduction to Primary Market Qualification classroom sessions will be delivered in London over 3 full days of training. Tea, coffee and light refreshments will be provided during the course but please note these courses are not catered. If you have any dietary requirements please let us know when you complete the registration form.
You will be given access to our learning management system and the course materials before the live sessions, and will have access to those for a total of six months. During these six months you will have the option to keep working through the course materials at your own pace. Please note to ensure you book and take the exam within these six months.
Assessment
The exam consists of 50 multiple choice questions of which candidates must answer a minimum of 30 questions correctly, with a score of 45 or more earning a distinction. You will have six months in which to study the material, book and complete an online, fully invigilated exam.
Expenses
Online course fees
- ICMA Members: EUR 1,300 (VAT not applicable)
- Non-members: EUR 1,900 (VAT not applicable)
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International Capital Market Association
For close to 50 years, ICMA’s educational offering has played a major part in its mission to raise standards in the international capital market. Our courses are designed and delivered by industry professionals for industry professionals. The offering comprises a...