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.
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
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.
The names of successful candidates will be included in our list of certificate holders.
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.
If you’re taking the classroom-based course, review sessions will be held prior to the exam to help candidates prepare for the assessment and assist with course content.
If you’re taking the online or livestreamed course you have six months in which to study the material, book and complete an online, fully invigilated exam. The exam is hosted on our online learning platform and invigilated by a live proctor via the camera and microphone on your computer. This allows you to choose a time and place of your convenience to take the exam, while guaranteeing secure exam conditions.
Prior to the exam, you will need to login with the proctor to check that your chosen exam equipment and space is adequate for the exam - you will receive further guidance when you register for the course.
Certification and Programme Recognition
This course has been accredited by the CPD® Certification Service and approved by the Securities & Futures Commission of Hong Kong for Continuous Professional Training (CPT).
ICMA recommends that 24 learning hours can be associated with this course, based on attended/undertaken hours of study required to successfully complete the learning outcomes.
The course is certified by ICMA and the ICMA Centre, Henley Business School, University of Reading. A Certificate of Attainment will be awarded to those who successfully pass the final exam of this course – see Assessment section for more details.
Please note that your course certificate of attendance or completion should be sufficient to satisfy any professional development requirements – if you require further evidence, please contact us at firstname.lastname@example.org.
ICMA Members: EUR 2,030 + VAT (if applicable)
Non Members: EUR 2,590 + VAT (if applicable)
The course syllabus is divided into the following key topic areas:
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
• Green, Social & Sustainability Financing
Syndication & Distribution
• Accessing the Markets
• The DCM Deal Process
• Geographical Considerations
• Allocation & Pricing
• Listing, Closing & Settlement
The Regulatory Framework
• Key Parties & Key Documentation
• The Prospectus
• Regulation & Other Considerations
• MiFID & MiFID II
Learning in a digital environment has a number of advantages and is growing in popularity as a medium of instruction. ICMA courses are delivered via video conferencing accessed on our digital learning platform, using the most effective pedagogical approaches and incorporating interactive functions like virtual breakout rooms.
The IPMQ live sessions are delivered over the course of five 3.5 hour sessions over the course of two weeks. You will be given access to 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.
|Live sessions: May 16, 17, 18, 23 and 24
10.00-13.30 CEST | Time Zone Converter
|Live sessions: October 12, 13, 14, 20 and 21
10.00-13.30 CEST | Time Zone Converter
Livestreamed course fees*
ICMA Members: EUR 1,650 + VAT (if applicable)
Non Members: EUR 2,050 + VAT (if applicable)
For security reasons, delegates who have not registered in advance will not be admitted to the live sessions.
- All payments must be made in Euro.
- Invoices for single registrations are subject to an additional Euro 50 to cover administration costs*. No administration fee applies for invoices covering two or more registrations.
*Administration costs cover the provision of supporting documents, which are often requested along with the invoice, to become an approved supplier.
Should you have any queries, please contact email@example.com.