TP TMI case studies
TP TMI · Put your knowledge to work in context.
The TP TMI (Treasury Professional / Treasury Management International) certification is a professional credential for treasury practitioners who want independent evidence of competence across the full treasury function. It suits corporate treasurers, cash and liquidity managers, treasury analysts, finance business partners, and bankers or consultants who advise corporate treasury desks. The TP TMI case studies are 5 cases and about 4,560 words.
1Month-End Pool Break and the Spanish Payroll
Nordwind Industrial manufactures in the EU and runs a notional cash pool with six subsidiaries at a single relationship bank, backed by cross-guarantees. On the last business day of the month the treasurer in Hamburg compares two views of liquidity for the following day.
935 words, about 5 min2Forecast Delay in a USD Cash Flow Hedge
Ardent Components, a EUR-functional industrial supplier, sells to a single US distributor. Treasury policy requires hedging 80% of highly probable USD forecast sales for the next 12 months.
952 words, about 5 min3Refinancing Wall, Covenants and a Negative Rating Outlook
Veltrix Group reports LTM EBITDA of EUR 210 million and net debt of EUR 640 million, a net leverage of 3.05x. Its EUR 500 million revolving credit facility (EUR 180 million drawn) matures in 11 months and carries a covenant of net leverage at or below 3.75x tested semi-annually, plus interest cover of at least 3.0x.
856 words, about 4 min4Counterparty Downgrade and a Hard Payment Deadline
Halcyon Foods holds EUR 300 million of surplus cash against an investment policy that permits: bank deposits up to 20% per counterparty, a minimum long-term rating of A- (A3), maximum maturity 12 months, and money market funds up to 40% of the portfolio, restricted to AAA-rated LVNAV funds. On Monday the group's two main deposit banks are downgraded from A to BBB+ with negative outlook following a sovereign review.
858 words, about 4 min5A Screening Hit, a Vessel Red Flag, and Commercial Pressure
TerraNova Agri, a EUR-functional fertiliser importer, instructs a USD 2.4 million payment to a Turkish trading company, Anadolu Kimya, for a urea cargo. The payment is routed through a US correspondent bank.
959 words, about 5 min