Investment BankingIntermediate
Debt Capital Markets
DCM
The team that helps companies and governments raise money through bonds.
Detailed explanation
DCM structures and places bonds, debentures and commercial paper, advising on tenor, coupon and investor demand.
Why it matters
Debt is often cheaper than equity for funding large projects.
Key points
- Bonds, NCDs, commercial paper.
- Credit ratings drive pricing.
- Coupon set against benchmark yields.
Related terms
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Educational content only. Definitions and examples are illustrative and are not investment, tax or legal advice.