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How have banks’ approach to lending in the syndicated market changed in the COVID era?

Broadcast on Nov 24, 2020 from Livestream: Bonds, Loans & Sukuk Africa 2020 - Virtual Conference

Strategic Partner

National Treasury, Republic of South Africa

Platinum Sponsor

Absa

Platinum Sponsor

Africa Finance Corporation

Platinum Sponsor

Standard Bank

Gold Sponsor

African Export-Import Bank (Afrexim)

Gold Sponsor

MUFG

Gold Sponsor

SMBC

WAEMU Sponsor

Agence UMOA-Titres

Silver Sponsor

Development Bank of Southern Africa

Silver Sponsor

Emirates NBD

Silver Sponsor

Rand Merchant Bank (RMB)

Bronze Sponsor

African Trade Insurance Agency

Bronze Sponsor

Fitch Ratings

Bronze Sponsor

GCR Ratings

Bronze Sponsor

KFW DEG

Subscribe for access:

  • Assessing local market liquidity: How do regional banks’ offering of favourable pricing and tenor vary across the region?
  • To what extent can local markets withstand ongoing volatility?
  • Longer tenors vs. liquidity flow vs. need to diversify lending base: What challenges are syndication teams facing with regards to size, pricing and structure of deals?
  • How can banks weather the slowdown in syndicated loan activity across the continent?
  • How are volatile liquidity levels impacting lenders’ approach to offering new structures to new borrowers?
  • Preparing for a transition away from LIBOR: What should bankers look out for in the fallback language of legal agreements? How does this affect loan structure going forward?

Moderator

Eric Zimny

Eric Zimny

Managing Director, Head of CEEMEA Origination

SMBC

Eric Zimny

Eric Zimny

Managing Director, Head of CEEMEA Origination at SMBC

With over 25 years of Loan and Debt Capital Market experience, Eric is a Managing Director and Head of CEEMEA Origination, Loan Capital Markets, at SMBCE responsible for the origination and structuring of loans for corporates and financial institutions across the full regional and borrower spectrum. Before joining SMBC in 2011, he was employed at Commerzbank New York, Frankfurt and London, where he held various head positions including loans and bonds origination. Eric is a certified Attorney at Law and has worked as such in Germany and the US. Eric is also a member of a group of authors that triennially publish a practical textbook on syndicated lending for borrowers, banking professionals, lawyers and auditors in German language

SMBC

Eric Zimny

With over four centuries of history and rooted in the stability of Japan and growth of Asia, SMBC Group reaches out around the world to provide the advice, connections and support that create value. Our customers in Africa and MENA choose SMBC Group because we offer local knowledge and global expertise.

With one of the most extensive domestic and international branch networks of any Japanese bank, SMBC Group uses the strength of its extensive footprint with powerful capabilities in loan and debt capital markets, project and trade finance, and a wide range of other financial services to deliver customer-focused, integrated solutions.

African & MENA customers benefit from SMBC Group's position as a world leader in loan capital markets bookrunning and arranging of loan facilities, including structuring, pricing, advising, executing and distribution of syndicated loans. A specialist debt capital markets team can provide expert advice and execution in core markets for public and private bond issuance, and offer issuers with guidance through the process from structuring, documentation and legal requirements, to execution of relevant funding solutions and investor relations. Particular focus is dedicated to corporate and structured finance and emerging market benchmark transactions for distribution to an international investor audience.

Speakers

Jo Maharaj

Jo Maharaj

Head: Syndications and Distributions,

Rand Merchant Bank (RMB)

Jo Maharaj

Jo Maharaj

Head: Syndications and Distributions, at Rand Merchant Bank (RMB)

Jo joined RMB in 2011 and in 2017 was appointed to lead the Syndications and Distribution team for South Africa and Rest of Africa.

Jo has over 10 years of experience in investment banking where she has gained experience in derivative structuring, institutional sales and loan syndications. Jo has assisted in the provision of numerous underwritten funding solutions to borrowers and in the successful conclusion of these syndications.

Jo holds a Masters in development economics and international finance from the Fletcher School at Tufts University, Boston.

Rand Merchant Bank (RMB)

Jo Maharaj

RMB at a glance

Rand Merchant Bank (RMB) is a leading African Corporate and Investment Bank and part of one of the largest financial services groups (by market capitalisation) in Africa – FirstRand Bank Limited. We offer our clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions.

At RMB we are passionate about solving problems for our clients by seeking solutions beyond the obvious. We are innovative in our thinking and turn challenges into opportunities. We call ourselves Solutionist Thinkers who deliver on Traditional values. Innovative ideas.

Our ability to think differently, our collaborative spirit, our client-centric approach and our belief that great minds don’t always have to think alike, is what sets us apart from our competitors. The emerging and necessary focus on ESG as a tool for capital allocation will lead to more effective and efficient capital markets when principles are adopted by stakeholders. RMB continues to embed ESG principles into our frameworks so that we can deliver relevant solutions that are valued by our clients in the markets in which we operate.

As the Corporate and Investment arm of FirstRand Bank Limited (which is wholly-owned by FirstRand Limited), we have access to a network of retail banks in 25 African countries, including representative offices and branches in the UK, India and China.

For more information please visit: www.rmb.co.za

Lucy Konie

Lucy Konie

Head: Distribution and Loan Syndication - International

Standard Bank

Lucy Konie

Lucy Konie

Head: Distribution and Loan Syndication - International at Standard Bank

Lucy joined Standard Bank’s Investment Banking division in London in Sep 2008 with the remit to establish and expand the loan distribution platform and channels supporting the Bank’s industry and product teams. She currently heads up the Distribution & Syndication platform from London covering International, East and West Africa loan markets whilst working with a mirror team domiciled in South Africa. She has been actively involved in the arranging, underwriting and distribution of syndicated loan financings for Standard Bank’s clients within its core industry groups: oil and gas, telecoms and media, consumer finance, mining & metals as well as sovereigns and financial institution lending. In providing syndicated loan financing solutions the Distribution team work alongside the key debt solutions teams including: corporate lending, structured finance, trade & commodity finance and acquisition finance with specific focus on Africa in line with the Bank’s strategy.

Prior to this Lucy worked within the syndications groups of ABN AMRO Bank and NatWest Bank and has been in the business for over 20 years. She holds a BSc Honours Degree in Business Economics.

Standard Bank

Lucy Konie

About Standard Bank Group

Standard Bank Group is the largest African bank by assets, operating in 20 African countries and 5 global financial centres. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.

Standard Bank has a 157-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.

Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth.

The group has over 50 000 employees, more than 1 100 branches and 9 000 ATMs on the African continent, which enable it to deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management.

Headline earnings for 2019 were R28.2 billion (about USD2 billion) and total assets were R2.3 trillion (about USD163 billion). Standard Bank’s market capitalisation at 31 December 2019 was R277 billion (USD20 billion).

The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20.1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.

For further information, go to http://www.standardbank.com

Edouard Bustarret

Edouard Bustarret

Managing Director, Head of Syndication/Distribution - Energy & Natural Resources

Natixis

Edouard Bustarret

Edouard Bustarret

Managing Director, Head of Syndication/Distribution - Energy & Natural Resources at Natixis

Edouard Bustarret is the Head of Global Trade Syndication at Natixis. Edouard has first been working in Equity Capital Markets Syndication and Origination for 20 years at HSBC and Natixis before taking over the syndication for Energy & Natural Resources in 2016. He has syndicated many transactions in oil & gas, metals and mining and agri sector in Africa, including Sonangol, Cocobod, EPSE, Puma Energy, EGPC and Petrobras Oil & Gas. Edouard graduated from HEC Business School.

Natixis

Edouard Bustarret
Walid Amri

Walid Amri

Senior Director - Co-Head of Debt Origination

Mashreq

Walid Amri

Walid Amri

Senior Director - Co-Head of Debt Origination at Mashreq

Over 16 years of banking experience of which 3 years in Corporate Banking, 5 years in Project and Structured Finance and 8 years in Corporate Finance (Corporate Loans, Acquisition Finance, LBOs, Contracting Finance, Loan Repos, Loans to FIs) with a target market of MENA, South East Asia and Africa (FI). Walid is actively involved across the corporate finance spectrum (loan origination, structuring, execution and distribution), both on conventional and Islamic structures. He has joined Mashreq in 2004 after 3 years with Citibank Tunisia where he was involved in relationship management and then remedial management. Walid holds a BSc from ESCT (Ecole Superieure de Commerce) and a Masters in Sociology applied to Corporates.

Mashreq has provided banking and financial services to millions of customers and businesses since 1967.

They are one of UAE's leading financial institutions with a growing retail presence in the region including Egypt, Qatar, Kuwait and Bahrain. They focus on providing customers access to a wide range of innovative products and services.

Mashreq

Walid Amri

Strategic Partner

National Treasury, Republic of South Africa

Platinum Sponsors

Absa Africa Finance Corporation Standard Bank

Gold Sponsors

African Export-Import Bank (Afrexim) MUFG SMBC

WAEMU Sponsor

Agence UMOA-Titres

Silver Sponsors

Development Bank of Southern Africa Emirates NBD Rand Merchant Bank (RMB)

Bronze Sponsors

African Trade Insurance Agency Fitch Ratings GCR Ratings KFW DEG