Formula One: Intangible-Asset-Backed Securitization Harvard Case Solution & Analysis

This case offered a $ 2 billion asset securitization proposal, which must be supported by Formula One television broadcasting rights. The case is written from the point of view of Steve Dean, executive director of securitization for Morgan Stanley Dean Witter, who is responsible for the placement of securities in September 1998. The proposed issue of Eurobonds for the Formula One (F1) should delay the initial public offering (IPO) in 1997 did not come true because of a dispute with the Formula One team. As a result, delays IPO, Morgan Stanley Dean Witter substitute Salomon Brothers as an adviser to Bernie Ecclestone, the eccentric billionaire owner of F1 trademarks, and became lead manager for $ 2 billion of structured finance placement designed to bridge a Formula One possible IPO. Students are asked to recommend a course of action to meet the challenges of marketing a new issue. Case is designed for use in the field of finance focusing on the choice of methods of financing, investment banking, securitization, and other advanced topics in corporate finance.
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by Susan Chaplinsky Source: Darden School of Business 22 pages. Publication Date: February 5, 2001. Prod. #: UV0271-PDF-ENG

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