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Presentation Memo

By Sharon Williams,2014-07-02 20:10
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Presentation Memo

    Bharti Airtel Presentation: Fixed Income & Derivatives

    At the end of the MAGIC session you will be required, together with your group, to give a

    presentation to the Board of Bharti Airtel (“BAT”) on opportunities in the debt capital markets and derivatives for the company.

    Situation: ; It is November 2010, and you believe BAT may have an interest in tapping the debt

    capital markets, either now or in the future.

     ; You may make assumptions about BAT’s expansion plans locally or internationally

    which may require it to increase its borrowings, and/or replace maturing debt. The

    company needs to select the maturity, currency and type of bond issue, and should

    decide, if the debt is issued in another currency, whether to hedge its exposure or not.

     ; Please treat all the background information you have gathered from previous

    presentations as being potentially relevant for this role play.

     ; You will be making your pitch to senior members of the BAT board who have already

    indicated their interest in hearing what you have to say.

    Strategy: ; The presentation should ideally be between 10 20 slides and cover, in no particular

    order, the following agenda items at the very least:

     1. Bharti Airtel’s objectives

    2. (a) DCM alternatives

     (b) Recommendation and rational.

    3. (a) Exposure identification and quantification

     (b) Derivative opportunities

    4. Summary.

     ; Feel free to use the all the information you do have at your disposal, and you have

    permission to cut-and-paste any data you deem relevant including Bloomberg

    information and PowerPoint presentation material from the week’s session.

     ; Key current market data is supplied in the form of Bloomberg screens that have been

    saved in the desk-top folder Capital Markets/ Bloomberg. The instructor will assist you

    with any supplemental market information you require.

     ; Although the client is not likely to be interested in the minute details of any spreadsheet

    calculations or information on the derivative hedges, you may wish to include some

    information in an appendix just in case you are asked.

     ; You may feel you do not have all the information you require, in which case don’t be

    afraid to make assumptions …. and test the client reaction. It is often the best way to

    glean information from your client!

Good luck in your preparations!

Peter

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