Understanding Perpetual Convertible Securities (PCS) for accountants - Workshop 2018

Asian perpetual convertibles (“PCS”) has become very popular issues among the PRC listed property developers in recent years. This workshop aims to provide you with an understanding of the structural complexity of PCS, the rationale behind issuing PCS and the risk-return analysis of PCS from investors’ perspectives.

Key topics covered:

• Latest trend of PCS market in Asia
• Overview of different types of convertible securities issued by the listed issuers
• Rationale behind issuing perpetual convertible securities (“PCS”) from the perspectives of the listed issuers 
• Key structural features embedded in PCS and its implications to the investors
• Case Study

Trainer profile:

D Tang has over 20 years of experience in risk management and product risk analysis at various leading US and European investment and corporate banks. His product coverage ranges from trade finance to syndicated loans, derivatives and structured products, and leveraged financing for corporate (SME and corporate) banks, financial institutions and funds in Greater China and SE Asia region. Mr Tang is also experienced in providing both internal and external training to various investment and corporate banks, government supervisory bodies, and various professional institutes.

Learning objectives

• Latest development of convertible securities market
• Key product features of convertibles securities in Asia
• Rationale behind the issuers of PCS in Asia
• Unveiling the “true” risk and return attributes underlying the PCS issues
• Key risk and return analysis for PCS investors and its implications

Audience

This workshop is suitable for finance professionals, accountants, relationship managers and investors.