Debt CapitalMarkets

Bootcamp

Money moves across the bridge you build.Learn how companies borrow from investors, how bonds are priced and how to judge a borrower.

Yourworkdoesn’tdisappearwhenthebootcampends.Itbecomesproof.

Everyone who finishes gets a certificate for the work they did. If your work is strong, you can also earn a certificate of appreciation or a letter of recommendation.

Fin Maverick .
CERTIFICATE
OF APPRECIATION
THE FOLLOWING AWARD IS GIVEN TO
YOUR NAME

in recognition of outstanding contribution and dedication shown during the Debt Capital Markets bootcamp, and of a curiosity that went well beyond the syllabus.

Head of Program
Program Lead
Fin Maverick .
LETTER
OF RECOMMENDATION
TO WHOMSOEVER IT MAY CONCERN,

I am writing to recommend Your Name, who completed the Debt Capital Markets bootcamp with Fin Maverick from 01/01/2026 to 01/06/2026.

Over the course of the program Your Name worked on the Debt Capital Markets capstone and consistently stood out for judgement applied with genuine rigour rather than textbook recall.

I recommend Your Name without reservation for any opportunity in finance, and am confident they will bring the same dedication to future roles.

Sincerely,

Founder Founder and CEO, Fin Maverick
Fin Maverick .
CERTIFICATE
OF INTERNSHIP
THIS IS TO CERTIFY THAT
YOUR NAME

has successfully completed an internship of 6 months with Fin Maverick under the Debt Capital Markets program, during the period 01/01/2026 to 01/06/2026. Your Name carried the capstone from first brief to final submission, and showed real commitment, discipline and aptitude.

Head of Program
Program Lead

How the 4 weeks work

Never looked at a bond before? Start here. Each week you learn one part of the debt markets, practise it on the same borrower, and hand in one piece of work.

01
7 years at 8% a year years → ↑ yield
Week 1

How bonds work

Learn how the bond market works without an exchange, what a bond’s terms say, and how a company brings one to market.

Practice: read a bond’s terms
02
1y 3y 5y 10y the spread
Week 2

Price it and read the curve

Price a bond from its payments, quote its return and see how it compares with the government curve.

Hand in: read the credit
03
+100 bps government the company
Week 3

Judge the borrower

Learn how rates and credit move a bond’s price, and whether a borrower will still be paying in year six.

Hand in: structure the issue
04
Terms Price Credit Launch
Week 4

Capstone: bring it to market

A borrower needs to refinance soon with a weaker credit. Set the terms and bring the bond to investors.

Final: a refinancing case
SWIPE FOR ALL 4 WEEKS →KEEP SCROLLING FOR ALL 4 WEEKS ↓
THE BOND LAB

Pick the market rate. Watch the price move.

A bond pays a fixed amount every year. When market rates rise, those fixed payments are worth less, so the price falls. Pick the rate investors want today and see the bond’s price.

THE BOND Pays ₹8 a year for 5 years, then repays ₹100. It was issued when investors wanted 8%.
Rate investors want now6%7%8%9%10%
Price = today’s value of all the payments.
PRICE ₹108.4₹104.1₹100.0₹96.1₹92.4 per ₹100 of bond
TRADES AT aboveaboveparbelowbelow compared with ₹100
₹8 a year and ₹100 at the end, valued at 6% a year = ₹108.4.₹8 a year and ₹100 at the end, valued at 7% a year = ₹104.1.₹8 a year and ₹100 at the end, valued at 8% a year = ₹100.₹8 a year and ₹100 at the end, valued at 9% a year = ₹96.1.₹8 a year and ₹100 at the end, valued at 10% a year = ₹92.4.
✓ Rates fell, price roseThe bond pays more than new bonds, so investors pay extra for it.
✓ A little above ₹100Market rates are a bit below the bond’s 8%, so the price is a bit above.
✓ Exactly ₹100When the market wants the same rate the bond pays, it trades at face value.
! Rates rose, price fellNew bonds pay more, so this one must sell cheaper to compete.
! A 7.6% loss on paperTwo points up in rates cut the price by over ₹7. That is interest rate risk.
Example numbers for learning. Not real advice.

The topics you
actually master

Six skills a debt markets team will test you on. Each one starts with a real problem from the job and ends with work you can show.

  1. Week 1 · On the desk “You are told to get a price for a bond and there is no exchange to look at. Where do you start?” You learn No exchange to look atWho buys bondsGetting a priceDealers and investors You walk out withA price with sources you can showMilestone 1 Interview question it answersHow are bonds traded if there is no exchange?
  2. Week 1 · On the desk “Two bonds from the same company trade at very different prices. The difference is in the documents.” You learn What a bond promisesPromises the borrower must keepWho gets paid firstSame issuer, two prices You walk out withA side-by-side of the two bondsMilestone 1 Interview question it answersWhat promises does a borrower make, and why do they matter?
  3. Week 2 · On the desk “A bond has to be priced from its payments, then quoted as the extra it pays over a government bond.” You learn Pricing from paymentsThe return if you hold to the endThe government curveThe extra a company pays over the government You walk out withA priced bond with its spreadMilestone 1 Interview question it answersWhy do bond prices fall when rates rise?
  4. Weeks 2–3 · On the desk “Two bonds have the same rating and trade two percentage points apart. Find out why.” You learn How far price moves when rates changeBonds that repay earlyRatingsWhy some borrowers pay more You walk out withA risk view of the bondsMilestone 2 Interview question it answersHow much does a bond’s price move when rates change?
  5. Week 3 · On the desk “A company wants to borrow for seven years. Will it still be paying in year six?” You learn Can it keep paying?Cash to cover interestCovenant testsA weakening credit You walk out withA credit view with covenant testsMilestone 2 Interview question it answersHow would you judge whether a company can repay?
  6. Week 4 · On the desk “A refinancing is due in nine months, the credit is weaker and the market window may close.” You learn Packaging loansSenior and junior slicesCredit default swapsBringing a deal to market You walk out withA refinancing case you can presentCapstone Interview question it answersHow would you price a new bond for a weaker borrower?
01 / 06 Week 1
On the desk

“You are told to get a price for a bond and there is no exchange to look at. Where do you start?”

You learn
No exchange to look at Who buys bonds Getting a price Dealers and investors
You walk out with A price with sources you can show Milestone 1
Interview question it answersHow are bonds traded if there is no exchange? Start in Week 1 →
02 / 06 Week 1
On the desk

“Two bonds from the same company trade at very different prices. The difference is in the documents.”

You learn
What a bond promises Promises the borrower must keep Who gets paid first Same issuer, two prices
You walk out with A side-by-side of the two bonds Milestone 1
Interview question it answersWhat promises does a borrower make, and why do they matter? Start in Week 1 →
03 / 06 Week 2
On the desk

“A bond has to be priced from its payments, then quoted as the extra it pays over a government bond.”

You learn
Pricing from payments The return if you hold to the end The government curve The extra a company pays over the government
You walk out with A priced bond with its spread Milestone 1
Interview question it answersWhy do bond prices fall when rates rise? Start in Week 1 →
04 / 06 Weeks 2–3
On the desk

“Two bonds have the same rating and trade two percentage points apart. Find out why.”

You learn
How far price moves when rates change Bonds that repay early Ratings Why some borrowers pay more
You walk out with A risk view of the bonds Milestone 2
Interview question it answersHow much does a bond’s price move when rates change? Start in Week 1 →
05 / 06 Week 3
On the desk

“A company wants to borrow for seven years. Will it still be paying in year six?”

You learn
Can it keep paying? Cash to cover interest Covenant tests A weakening credit
You walk out with A credit view with covenant tests Milestone 2
Interview question it answersHow would you judge whether a company can repay? Start in Week 1 →
06 / 06 Week 4
On the desk

“A refinancing is due in nine months, the credit is weaker and the market window may close.”

You learn
Packaging loans Senior and junior slices Credit default swaps Bringing a deal to market
You walk out with A refinancing case you can present Capstone
Interview question it answersHow would you price a new bond for a weaker borrower? Start in Week 1 →
Make a call. See the miss. Fix the logic.

The simulations you run

You make a real call on a bond deal, see where it goes wrong, then fix it. Here are three of them.

Price you quoted ₹101.2 Right curve used

Priced off the wrong curve

The quote used an old government curve. Reprice the bond on today’s curve and see how far it moves.

Open simulation →
Why the spread widened
Rate change
Weaker credit
check the credit

Same rating, wider spread

Two bonds share a rating but one costs far more to borrow. Find what investors are worried about.

Open simulation →
Covenants to test
Debt at risk
Interest at risk
Cash at risk
Sale at risk

The covenant that bites

The company wants looser terms. Test which covenant it would break first if profit falls.

Open simulation →
TRY ONE · NO SIGN-UP

What happens to the price?

WEEK 2 · PRICE AND YIELD

You own a bond that pays 7% a year. New bonds just like it now pay 9%. What happens to the price of your bond?

Right call. Not quite.

Nobody will pay full price for a bond paying 7% when they can buy a new one paying 9%. So the price of your bond falls until its return matches 9%. Prices and rates move in opposite directions. This one idea explains most of what happens in the bond market.

Milestone preview

Two graded milestones and a capstone. Each one is real work you can show.

✕
Week 2

Read the credit

A company borrowing from the bond market for the first time, similar bonds already trading, and a curve to price against.

✓ Read the terms
✓ Find similar bonds
✓ Price against the curve
✓ Judge the credit
Week 3

Structure the issue

The same borrower with a full history, a rating agency to satisfy, a market that has moved, and covenants to agree.

✓ Set the size and length
✓ Plan the rating
✓ Agree the covenants
✓ Set the price range
Week 4

Capstone: bring it to market

A refinancing due in nine months, a weakening credit, a market window that may close and investors to convince.

✓ Update the credit
✓ Rework the terms
✓ Price the new bond
✓ Pitch to investors
GRADED

Five ways you
actually learn

Every week follows the same simple loop: learn an idea, try it straight away, use it to make a decision, review it, then show you can do it.

ASK THE DESK

What learners ask before they join.

FMFin Maverickquestion 01 of 05

Do I need a finance background?

No. Week 1 starts from zero: how the bond market works and what a bond promises. If you are comfortable with percentages and a basic spreadsheet, the bootcamp teaches everything else.

FMFin Maverickquestion 02 of 05

How much time does it take each week?

Plan a few focused hours each week. Lessons are short and recorded, so you can fit them around college or work.

FMFin Maverickquestion 03 of 05

Is it live or recorded?

Fully self-paced. Lessons, actions, simulations and milestones are all on demand, so you learn when it suits you and replay anything as often as you need.

FMFin Maverickquestion 04 of 05

What do I walk out with?

Work you can walk through in an interview: a bond read and priced, a credit view, a structured issue and a refinancing case. Strong work also earns a certificate of appreciation or a letter of recommendation.

FMFin Maverickquestion 05 of 05

Will this get me a job?

No course can promise that. What it gives you is work you can show and the answers to the questions debt markets teams actually ask. That is what gets you through the interview.

FOUR WEEKS ON ONE BORROWER

Learn how companies borrow from investors, how bonds are priced and how to judge a borrower.

₹2,999/- 40% OFF₹4,999/-
Enroll now →
Video lessonsLearn each idea once, properly Quick actionsTry it the moment you learn it SimulationsMake the call on a real borrower Revision notesOne page to keep for the desk MilestonesGraded work that builds your file CapstoneOne bond deal you can defend

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