Expression of Interest to Act as Financial Advisor to ......public tender offer for Leica Geosystems...
Transcript of Expression of Interest to Act as Financial Advisor to ......public tender offer for Leica Geosystems...
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May 2011 1
Expression of Interest to Act as Financial Advisor to Regeringskansliet
Company data and key contacts
Crédit Agricole CIB Sweden Branch Primary contacts at Crédit Agricole CIB
Crédit Agricole CIB S.A. 9, quai du Président Paul Doumer 92920 Paris La Défense Cedex France
Registration number:304 187 701 RCS
Crédit Agricole CIB Sweden BranchRegeringsgatan 38SE-103 95 StockholmSweden
Registration number:516401-9746
Claes JonssonHead of Nordic Investment Banking
Tel: + 46 8 796 69 53 + 33 1 41 89 06 96
Mob: + 33 6 88 69 84 [email protected]
Olivier JacquetHead of Nordic Equity Capital Markets
Tel: + 33 1 41 89 70 59
Mob: + 33 6 08 74 72 [email protected]
Overview of Crédit Agricole Corporate & Investment BankTop 25 by Tier One Capital 2009 (year end)
71 974ChinaChina Construction Bank Corp15
14
12
11
10
9
8
7
6
5
4
3
2
1
Rank
China
UK
Japan
UK
Spain
France
China
US
UK
UK
US
US
US
Country
77 034Llyods Banking Group
73 667Bank of China
77 218Mitsubishi UFJ Financial Group
80 449Barclays
81 578Banco Santander
90 648BNP Paribas
91 111ICBC
93 795Wells Fargo & Co
122 157HSBC Holdings
123 859Royal Bank of Scotland
127 034Citigroup
132 971JPMorgan Chase & Co
160 388Bank of America Corp
(USD million)
Bank
13 France 75 504Credit Agricole Group
Top 25 by Total Assets2009 (year end)
1 556 810JapanMizuho Financial Group 15
14
13
12
11
10
9
8
7
6
5
4
2
1
Rank
Spain
UK
Netherlands
China
US
Japan
US
Germany
US
UK
UK
UK
France
Country
1 676 719ING Bank
1 664 919Llyods Banking Group
1 600 186Banco Santander
1 725 938ICBC
1 856 646Citigroup
2 025 830Mitsubishi UFJ Financial Group
2 031 989JPMorgan Chase & Co
2 162 340Deutsche Bank
2 223 299Bank of America Corp
2 234 893Barclays
2 364 452HSBC Holdings
2 749 572Royal Bank of Scotland
2 964 983BNP Paribas
(USD million)
Bank
3 France 2 440 634Credit Agricole Group
Crédit Agricole Corporate & Investment Bank (“CA CIB”), the Corporate & Investment Banking arm of the Crédit Agricole Group, is pleased to express its interest in providing financial advisory services to Regeringskansliet.
Crédit Agricole is the world’s 3rd and 13th largest banking group ranked by assets and Tier 1 Capital respectively (Source: The Banker, latest survey dated July 2010)
CA CIB has approx. 13,000 employees in more than 50 countries world-wide of which approx. 100 locally in the Nordic region, including its top-ranked CA Cheuvreux Nordic stock broking subsidiary.
CA CIB holds all necessary authorisations to provide investment banking services in Sweden.
Source: The Banker, July 2010
Services offered to Regeringskansliet
Key strengths of Crédit Agricole CIB & Selected Nor dic transaction credentials
M&A advisory Equity Capital Markets Debt Capital Markets Loan Syndication• Advising large Nordic corporations
such as Hexagon, Tele2 and Electrolux on complex cross-border transactions
• Leveraging capabilities in Continental Europe, Middle East, China and Latin America
• Leading European house with strong Nordic record
• Bookrunner for Hexagon’s SEK6.5bn rights issue (largest in Sweden in 2010) and APMM’s DKK8.8bn treasury share sale(largest Nordic ABB in 2009)
• #5 in the Eurobond market in 2010 (Source: IFR, All corporate bonds in Euros)
• Bookrunner for key Nordic corporations and institutions such as SEB, Carlsberg, Ericsson, Volvo, TeliaSonera etc.
• #3 in EMEA in 2010 (Source: IFR)• Strong Nordic presence and
balance sheet commitment • Bookrunner for Hexagon’s
EUR2.6bn facilities – “Nordic loan of the year in 2010” (Source: Euroweek)
Local presence and long standing Nordic commitment Advisory ECM Other
• M&A• Disposals• Capital structure• Fairness opinions• Strategic reviews
• IPOs• Secondary offerings• Capital increases• Spin-offs• Equity linked
• Debt Capital Markets• Loan syndication• FX, interest rate and
commodity hedging and trading
CA CIB offers a full range of advisory, capital raising, financing and hedging services to corporations, institutions and governments. Presence in the Nordic region since the early 1980’s with a well established regional platform, also comprising CA Cheuvreux Nordic, its top-ranked Nordic stock broking arm.
USD 450 M
Acquisition of Olympic Group
Pen
ding
Financial Advisor Co-Lead Manager
DKK 5,521 M
CHR HANSEN
IPO
Janu
ary
2011
Financial Advisor
EUR 110 MSale of 33% stake in Agta Record to
Assa Abloy
Bookrunner
SEK 6,521 M
Rights Issue
Nov
embe
r 20
10
IPO
June
201
0
Co-Lead Manager
DKK 5,521 M
Joint Bookrunner
EUR 1,250 M4.125% Swedish Covered Bond
Due 2021
Mar
ch 2
011
Joint Bookrunner
EUR 1,000 M3.375% Senior
Unsecured BondsDue 2017
Oct
ober
201
0
MLA & Bookrunner
EUR 1,500 M
Revolving Credit Facility
Mar
ch 2
011
Revolving CreditFacility
Mar
ch 2
011
MLA & Bookrunner
SEK 4,000 M
Financial Advisor
Undisclosed
Acquisition of 51% of NEO (Kazakhstan)
Mar
ch 2
010
Bookrunner
DKK 8,261 M
ABB
Sep
tem
ber
2009
Co-Manager
SEK 15,000 M
Rights Issue
Sep
tem
ber
2009
Joint Bookrunner
EUR 500 M3.000% Senior
UnsecuredDue 2017
Sep
tem
ber
2010
Joint Bookrunner
EUR 600 M
5% NotesDue 2013
June
200
9
Revolving CreditFacility
MLA & Bookrunner
EUR 500 M
Mar
ch 2
011
EUR 1,500 M
Mar
ch 2
011
Revolving CreditFacility
MLA & Bookrunner
Financial Advisor
Mar
ch 2
008
EUR 5,626 M
Acquisition of Vin & Spirit
Financial Advisor
EUR 950 MAcquisition and
public tender offer for Leica Geosystems
Oct
ober
200
5
Co-Manager
SEK 15,069 M
Rights Issue
Apr
il 20
09
Underwriter
EUR 2,588 M
Rights Issue
Apr
il 20
09
Joint Bookrunner
EUR 500 M
7.875% NotesDue 2012
May
200
9
Joint Bookrunner
EUR 550 M
5.125% NotesDue 2014
Mar
ch 2
009
EUR 2,000 M
May
201
1
Revolving CreditFacility
MLA & Bookrunner
Underwriter, MLA, Bookrunner& Documentation Agent
USD 2,125 MEUR 1,000 M
Term Loan & Revolving
Credit Facilities
July
201
0
Disposalof Invitel
Sep
tem
ber
2009
Financial Advisor
Undisclosed
“Nordic Loan of the Year in 2010”
The strategy of CA CIB combines global reach with local presence. Through its long-standing local presence and consistent commitment to the Nordic region, CA CIB has built long-standing relationships with leading Nordic corporations and institutions, providing its support as an advisor or financing partner in connection with strategic transactions as well as on a recurring basis.
• Since 1997• Equity Research• Equity Sales and Trading
• Rep. Office (1993)• Shipping and Offshore
Oslo• Branch (1986)• Corporate & Investment Banking
Stockholm • Branch (1982)• Corporate & Investment Banking
Helsinki
2010
3 Nordic Research• Since 1997• Equity Research• Equity Sales and Trading
• Rep. Office (1993)• Shipping and Offshore
Oslo• Branch (1986)• Corporate & Investment Banking
Stockholm • Branch (1982)• Corporate & Investment Banking
Helsinki
2010
3 Nordic Research
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May 2011 2
Bookrunner
USD 950 M
Exchangeable Bondsfor Bradesco shares
Mar
ch 2
010
Bookrunner
EUR 1,250 M
Convertible Bonds
Mar
ch 2
009
Bookrunner
EUR 1,250 M
Convertible Bonds
Bookrunner
EUR 3,048 M
Rights Issue
June
200
9
Bookrunner
EUR 3,048 M
Rights Issue
Bookrunner
EUR 1,512 M
Rights Issue
Mar
ch 2
009
Bookrunner
EUR 1,512 M
Rights Issue
Crédit Agricole Cheuvreux is a leading player in Eur opean and Nordic Equity research & distribution
Crédit Agricole CIB is a key European player in Equit y Capital Markets
IPOs / Spin-Offs Accelerated Bookbuildings (“ABBs”)
Local insight - global distribution capabilities
Rights Issues Equity-Linked
Bookrunner
NA
IPO
Pen
ding
Advisor
EUR 2,575 M
Spin-Off
July
201
0
Joint Bookrunner
USD 812 M
IPO
May
201
0
Bookrunner
EUR 253 M
ABBOct
ober
201
0
Bookrunner
GBP 925 M
Primary ABBJanu
ary
2010
Apr
il 20
09
Bookrunner
USD 4,000 MCombined Offering of Convertible Bonds and
ABBBookrunner
USD 4,000 MCombined Offering
of Convertible Bondsand ABB
Bookrunner
DKK 8,261 M
ABB
Sep
tem
ber
2009
Advisor
EUR 2,200 M
Spin-Off
Advisor
EUR 2,200 M
Spin-OffJanu
ary
2011
Bookrunner
EUR 1,222 M
Rights Issue
Sep
tem
ber
2010
Bookrunner
EUR 1,114 M
Rights Issue
Janu
ary
2010
Bookrunner
EUR 550 M
Convertible Bonds
Nov
embe
r 20
10
Bookrunner
EUR 690 M
Exchangeable Bondsfor PPR shares
Sep
tem
ber
2010
Bookrunner
SEK 6,521 M
Rights Issue
Nov
embe
r 20
10
Bookrunner
EUR 1,036 M
Rights Issue
Apr
il 20
09
Bookrunner
EUR 1,036 M
Rights Issue
Bookrunner
EUR 115 M
Convertible Bonds
Janu
ary
2011
Bookrunner
EUR 115 M
Convertible Bonds
Bookrunner
EUR 250 M
Convertible Bonds
Janu
ary
2010
Bookrunner
EUR 250 M
Convertible Bonds
Bookrunner
EUR 200 M
Convertible Bonds
Nov
embe
r 20
09
Bookrunner
EUR 1,000 M
Convertible BondsSep
tem
ber
2009
Bookrunner
EUR 1,000 M
Convertible Bonds
Bookrunner
EUR 1,200 M
Rights Issue
Apr
il 20
09
Bookrunner
EUR 1,200 M
Rights Issue
Bookrunner
EUR 1,500 M
Rights Issue
Apr
il 20
09
Bookrunner
EUR 1,500 M
Rights Issue
Source: Institutional Investor , Thomson Extel, Greenwich Associates, Starmine
Country sales ranking based on commissions paidCountry sales ranking based on commissions paid
Country Sales 2008 2009 2010
France 4 4 3
Germany 3 5 4
Italy 5 3 5
Nordic Countries 5 5 5
Spain & Portugal 4 3 5
Benelux 10 9 8
Leading Non-Nordic broker in Nordic equities
Source: Thomson Extel Survey
CA Cheuvreux overall ranking summaryCA Cheuvreux overall ranking summary
Leadership in European equity research and distribut ion
Bookrunner
EUR 87 M
Primary ABB
Feb
ruar
y 20
07
EUR 3,695 M
ABB
Dec
embe
r 20
07
Global CoordinatorBookrunnerBookrunner
EUR 927 M
IPO
Dec
embe
r 20
09
Advisor Lead Underwriter
SAR 7,000 M
IPOMar
ch 2
008
Advisor
EUR 6,300 M
July
200
8
Spin-Off IPO
Bookrunner
EUR 1,015 M
IPO
Apr
il 20
07
Bookrunner
EUR 125 M
ABB
Apr
il 20
05
Janu
ary
2008
EUR 1,216 M
ABB
Global CoordinatorBookrunner
Involvement in more than 15 transactions in the Euro pean banking sector since 2007
38
201201
10
15
105105
4
74
8
69
8
7171
7
9797
9393
1919
2424
2121
88
Number of Research AnalystsNumber of Research Analysts
Number of stocks covered by researchNumber of stocks covered by research
762 total headcount762 total headcount
Front office Sales forceFront office Sales force
292
28
1013
4
8
11
56
15
11
75
5
27
6 8
33
4 2
24
425
3 6
Extensive
research
coverage
� 790 stocks covered
� 85% of Continental Europe mkt. cap
� 100 analysts in 12 countries
� 30 sector teams
� 6 regional economists and strategists
� 9,000 one-on-one meetings with analysts
Number of Research AnalystsNumber of Research Analysts
Number of stocks covered by researchNumber of stocks covered by research
762 total headcount762 total headcount
Front office Sales forceFront office Sales force
1 Most award-winning brokerDeveloped Europe
2010
1
2010
1
2010
2010
3Nordic Research
2010
1 European Small & MidCap Research
2010
1 European Small & MidCap Research
2010
1 European Small & MidCap Research
2011
2
Nordic placements - 100 salesmen and sales-traders
29
Research by Country 2009 2010 2011 2009 2010 2009 2010 2009 2010
France 1 3 1 1 2 1 1 1 2
Spain 4 3 h/m 2 4 2 1 1
Greece 2 2 3 1 5
Italy 8 8 6 6 4 1 2
Nordic countr ies 6 7 5 5 3 5 5
Germany h/m 6 5 5 6 3 2 1 10
Sw izerland 4 6 h/m 6 8 5 3
Benelux 3 3 8 8 8 7 7
Bookrunner
EUR 1,036 M
Rights Issue
Oct
ober
201
0
Co-Lead Manager
GBP 3,335 M
Rights Issue
Bookrunner
EUR 250 M
Convertible Bonds
Oct
ober
200
9
Co-Bookrunner
EUR 4,306 M
Rights Issue
Co-Bookrunner
EUR 4,842 M
Rights Issue
Oct
ober
200
9
Bookrunner
EUR 1,000 M
Convertible Bonds
June
200
9
Global Coordinator
EUR 361 M
Rights Issue
Bookrunner
EUR 1,200 M
Rights Issue
Apr
il 20
10
Sole Bookrunner
EUR 989 M
Rights Issue
Bookrunner
EUR 1,500 M
Rights IssueSep
tem
ber
2010
Co-Bookrunner
EUR 10,200 M
Rights Issue
Dec
embe
r 20
09
Rights Issue
GBP 13.5 bn
Senior Co-lead Bookrunner
EUR 1,200 M
Rights Issue
Apr
il 20
09
Bookrunner
EUR 1,200 M
Rights Issue
Multi-local network
� Multi-local sector view
� A differentiated offer as opposed to the integrated and centralised model of main competitors
� 22 analysts covering 85% of the overall Nordic market capitalization
� Local knowledge providing an edge in accessing buy-side analysts
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May 2011
Transactions involving state owned companies
Selected industry credentials
Strong experience from European privatisations and tr ansactions involving state owned companies
Consumer & Retail
Metals & Mining
Power & Energy
Telecom
Financial institutions & Real estate
Financial Advisor to Dassault Aviation
EUR 1,960 MAcquisition of a stake
in Thales by Dassault Aviation
Dec
embe
r 20
08
EUR 5,626 M
Acquisition of V&S
June
200
8
Advisor and Sole Global Coordinator
EUR 3,695 M
Dec
embe
r 20
07
Advisor to Euronext
EUR 7,927 M
Mergerwith NYSE
May
200
7
Financial Advisor to the French State
Merger with Thales Naval Services
Mar
ch 2
007
Financial Advisor to the French State
EUR 6,000 M
Privatisationof ASF
Dec
embe
r 20
05
EUR 6,351 M
Strategic advisory and IPO
Nov
embe
r 20
05
EUR 4,006 M
July
200
5
Financial Advisor to the French State
Financial Advisor to the French State
Strategic advisory and IPO
Financial Advisor
EUR 4,090 M
Disposalof Areva T&D
2010
Strategic advisory
Sep
tem
ber
2009
Undisclosed
Financial Advisor
Disposal of minority interest in LA SNET
to E.ON
Oct
ober
200
9
Undisclosed
Financial Advisor
EUR 2,739 M
Disposalof DistrigasO
ctob
er 2
008
Financial Advisor
Merger with GDF
July
200
8
Financial Advisor
Disposalof majority stake
EUR 420 M
Nov
embe
r 20
07
Financial Advisor
Acquisition ofSupra by EDEV
July
200
7
Financial Advisor
Public Tender Offeron Electrabel Shares
EUR 11,200 M
Aug
ust 2
005
Financial Advisor
Spin-offJanu
ary
2011
Financial Advisor
EUR 2,140 M
Take-over by Jacquet Metals
2010
Financial Advisor
EUR 275 M USD 4,000 M
Apr
il 20
09
Combined Offeringof Convertible Bonds
and ABB
Bookrunner
EUR 1,250 M
Convertible Bonds
Mar
ch 2
009
Bookrunner Financial Advisor
Undisclosed
July
200
9
Acquisition of the majority control of PT Citra Tubindo
USD 800 MAcquisition of three
businesses from Grant Prideco
Oct
ober
200
7
Financial Advisor
USD 1,700 M
Acquisition of Grupo Imsa
Financial Advisor
Apr
il 20
07
EUR 25,500 M
Financial Advisor
Public TenderOffer by Mittal
Aug
ust 2
006
Joint Global Coordinator
Ongoing
IPO Hong Kong Stock Exchange
On-
goin
g
Undisclosed
Disposal of Pieper-Heidsieck to EPI
Apr
il 20
11
Financial Advisor
EUR 4,300 M
Mar
ch 2
011
Acquisition of Bulgari
Financial Advisor
EUR 1,500 M
Disposal of PicardOct
ober
201
0
Financial Advisor Financial Advisor
Sep
tem
ber
2010
Undisclosed
Disposal of Fnac Eveil & Jeux
Joint Bookrunner
USD 812 M
May
201
0IPO Hong Kong Stock Exchange
USD 300 MAcquisition of
Majority stake in Eldorado
Apr
il 20
09
Financial Advisor
USD 581 M
Apr
il 20
09
Financial Advisor
Acquisition ofWild Turkey
Disposalto Completel
Dec
embe
r 20
10
Financial Advisor
Disposalof 50% stake in Vivo
July
201
0
USD 7,500 M
Financial Advisor
Disposalof Alice to Iliad
EUR 800 M
Aug
ust 2
008
Financial AdvisorFinancial Advisor
In the contextof the 51% offer
from EtisalatPen
ding
201
1
Acquisitionof GVT
EUR 2,000 M
Feb
ruar
y 20
10
Financial Advisor
Restructuringof Wind HellasJa
nuar
y 20
10
USD 2,000 M
Financial AdvisorFinancial Advisor
Undisclosed
Acquisition of 51% of NEO (Kazakhstan)
Mar
ch 2
010
Disposalto Invitel
Sep
tem
ber
2009
Financial Advisor
Undisclosed
Financial Advisor
UndisclosedCreation of a JV with CNP assurances in the pensions
business
Pen
ding
2010
Acquisitionby Icade
EUR 1,400 M
Financial Advisor
Dec
embe
r 20
07
For the acquisition of 49% of Agos Itafinco
Financial Advisor
EUR 546 M
Janu
ary
2007
Joint venturewith PPF
EUR 5,100 M
Financial Advisor
Feb
ruar
y 20
08
For the acquisitionof 15% of Bankinter
Financial Advisor
EUR 809 M
Advisor and SoleGlobal Coordinator
Advisor to Euronext
EUR 7,927 M
Mergerwith NYSE
May
200
7
July
200
8
Capital increase
EUR 375 M
Bookrunner
Strategic advisory and IPO
EUR 1,301 MJu
ne 2
006
Financial Advisor to the French State
Strategic advisory and IPO
EUR 1,331 M
June
200
4
Financial Advisor to the French State
Undisclosed
• CA CIB enjoys a long-record in privatisations and transactions involving state owned companies
• Most active bank during the last wave of privatisations in France in 2004-07
• During the period, CA CIB acted as advisor and/or Bookrunner in connection with the privatisations of Snecma, Gaz de France, EdF, Autoroutes du Sud de la France and Aeroports de Paris
• CA CIB also acted as advisor and bookrunner for the IPOs Celsius and Girobank in the early 1990’s, which were among the first privatisations in Sweden and Denmark respectively
• CA CIB was also involved in the privatisation programme in Finland during the 1990’s (Rautaruukki, Finnair, Valmet etc.) as well as of Telia in Sweden in 2000
3
Financial Advisor to Pernod Ricard
Bookrunner
EUR 1,200 M
Rights Issue
Apr
il 20
10
Sole Bookrunner
EUR 989 M
Rights Issue