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Dette mezzanine et structure d'endettement

Abstract : The aim of the thesis is to point out the opportunity to use mezzanine finance within financial operations using high debt level. Mezzanine debt is an intermediate type of finance between senior debt and equity which is characterized by intermediate risk and return and a repayment subordinated to the senior debt one. The different characteristics of this mean of finance have been analyzed : law, practice and theory. It allowed to develop, within the contingent claims analysis, a mathematical model. This Model allowed to determine an optimal debt structure and to analyze the relationship between the asset risk and the debt structure characteristics. Simulations and the analysis of two French mezzanine finance operations allowed to illustrate the theoretical results.
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Submitted on : Tuesday, April 24, 2018 - 4:04:58 PM
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  • HAL Id : tel-01776684, version 1



Catherine Deffains. Dette mezzanine et structure d'endettement. Gestion et management. Université Nancy 2, 1994. Français. ⟨NNT : 1994NAN22023⟩. ⟨tel-01776684⟩



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