Mezzanine Debt - Definition
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Academic Research on Mezzanine Debt Flexible financing withmezzanine debt, Gross, K., & Amiri, A. (1990). Journal of Business Strategy,11(2), 54-56. This paper explains the concept of mezzanine debt; a loan made without a traditional institution. It provides a more in-depth definition of mezzanine debt, and other aspects of this concept. MEZZANINE DEBT: BENEFITS OR DRAWBACKS FOR FIRM'S FINANCING?, Giurca Vasilescu, L. (2009). Revista Tinerilor Economisti (The Young Economists Journal),1(12), 14-21. This paper explores the use of mezzanine finance as an alternative source of finance to debt and equity, and the financing and expansion of start-up firms. It analyses the measures which should be taken by interested firms before making use of this finance source. This paper explores the benefits and shortcomings of this finance source for firms, as well as the implications of its implementation. What's in a Name:Mezzanine Debtversus Preferred Equity, Heller, J. D. (2012).Stan. JL Bus. & Fin.,18, 40. This paper explores the difference between mezzanine loans and preferred equity interests as forms of investments in commercial properties. It also explores the forms in which mezzanine loans and preferred equity are taken, and also analyses investors behaviours towards these two loan methods. The article postulates that capital markets may be giving undue deference to the notion that one is debt and the other is equity and analyzes each of the presumed legal advantages of mezzanine loans over preferred equity interests. Comparing mezzanine to alternative debt and equity products, Rosenthal, S. (2004).Briefings in Real Estate Finance: An International Journal,4(1), 65-73. This paper addresses the potential use of mezzanine debt by a real estate buyer who is purchasing an office building in a major US market. It focuses on the advantages and disadvantages of using mezzanine debt, including the use of additional equity. A short case study will be utilised to monitor the economic returns to the buyer in a best and worst case scenario. Mezzanine Debtand Preferred Equity in Real Estate, Berman, A. (2013). This chapter focuses on mezzanine loans and describes the legal economic structure of mezzanine financings, along with investment opportunities and the business risks, of mezzanine loans. It also focuses on preferred equity investments and also examines the legal and economic structure of these equity investments, along with the investment opportunities and risks of preferred equity. MEZZANINE DEBT: BENEFITS OR DRAWBACKS FOR FIRM'S FINANCING?, Laura, G. V. (2009). Young Economists Journal/Revista Tinerilor Economisti,7(12). This paper explores the use of mezzanine finance as an alternative source of finance to debt and equity, and the financing and expansion of start-up firms. It analyses the measures which should be taken by interested firms before making use of this finance source. This paper explores the benefits and shortcomings of this finance source for firms, as well as the implications of its implementation. Mezzanine debtcan be a lower-risk alternative to equity., Merkel, J. T. (2004). Hotel & Motel Management,219(12), 14-14. Claritas Capital Raising More Than $100 M ForMezzanine DebtFund, Gormley, B. (2009). The Private Equity Analyst. Babson Capital Is Forming Asia-PacificMezzanine DebtTeam, Aneiro, M. (2010). Babson Capital Is Forming Asia-Pacific Mezzanine Debt Team.The Private Equity Analyst. In this paper, the authors analyze mezzanine capital's investment characteristics; make the distinction between mezzanine capital and high yield debt; explore supply and demand factors that drive pricing; point out similarities and differences in its usage in the U.S. and Europe as well as highlight important investing considerations. Investing in Credit Series:Mezzanine Debt, Jain, S. (2011). This study analyzes mezzanine capital's investment characteristics, the differences between mezzanine capital and high yield debt, and explores supply and demand factors that drive pricing. It further points out similarities and differences in its usage in the U.S. and Europe as well as highlight important investing considerations. Summit Partners and Robosoft, LLC:Mezzanine DebtInvestment, Chaplinsky, S., & Whittemore, A. D. This case is designed to introduce students to mezzanine investments, by investigating Summits plan to invest USD103.6 million from its growth equity fund and USD43.9 million from its subordinated debt fund to buy out the company in 2013. The case contains the actual deal team's investment memorandum summarizing the merits of the RoboSoft investment by Summit in 2012.