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Fixed Income Association (FIA)

Covering Credit and Capital Markets, with a Focus on Leveraged Finance

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About Us

The Fixed Income Association (“FIA” or “we”) at the University of North Carolina’s Kenan-Flagler Business School is a student-run organization that functions as a subsidiary of the UNC Undergraduate Finance Society. The purpose of forming FIA is to educate members on the complex and ever-evolving world of fixed income markets. FIA will cover credit and capital markets, with a focus on leveraged finance. We will also seek to ensure members are prepared for the intricate internship process and ultimately, securing full-time placements at top-tier investment banks.

FIA has structured a training program that aims to educate members on the intricacies of global credit markets in order to be prepared for front-office roles on Wall Street across Sales & Trading, Investment Banking, in addition to Public and Private Credit Investing. The FIA training program will encompass credit security analysis, capital markets, risk-adjusted return, and valuation methodologies which will include building a DCF and LBO model.

All those who are interested in fixed income markets or plan to take BUSI 589 will be encouraged to join. The Fixed Income Association takes advantage of the Bloomberg Terminals in the Capital Markets Lab and will promote members to attain Bloomberg certificates in fixed income securities. FIA will meet weekly.

Executive Board

Founder/President

Joe Destro

Chief Operating Officer

Jacques Bouvery

Director of Credit Research

Karun Prasanna

Vice-President

Thomas Burges

Communications Director

Emily Shih

❖ Introduction to Fixed Income

 

❖ Guide to Pulling Trading Levels & Using the Bloomberg Terminal

 

❖ Equities vs Fixed Income

 

❖ Leveraged Finance Overview

 

❖ Understanding the Capital Structure

 

❖ Public versus Private Credit

 

❖ Overview of a Syndication & Financing Process

 

❖ Providing Leveraged Finance Judgements

 

❖ Due Diligence Overview

 

❖ Case Studies

 

❖ Valuation Methodologies: ​

  •   Leveraged Buyout

  •   Comparative Company Analysis

❖ Restructuring: Introduction to Restructuring and Bankruptcy

❖ Understanding Covenants & How to Read Debt Documentation

Structure

Faculty Advisor 

All additional inquiries should be directed toward the faculty moderator,

Yasser Boualam, in the finance department.
Yasser Boualam’s research interests center around macro-finance, financial institutions, financial fragility and crises and economic theory. He teaches courses in credit markets and fixed income.

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