17 november 2008
Post on 31-Dec-2015
45 Views
Preview:
DESCRIPTION
TRANSCRIPT
April 19, 2023
Shipping & Corporate Finance
Corporate Presentation
Who We Are 3
What We Offer 4
Shipping Finance 6
Consultant to KfW IPEX-Bank 7
Corporate Finance 9
Capital Markets 10
Yacht Financing 11
Relationship w/ Barclays Marine Finance 12
Merlin Tankers 13
Fund Management 14
Medfin Ltd. 15
Seafin Pte Ltd. 16
Relationships 17
Key Executives 18
Contact Information 20
Table of Contents
Who We Are
Offering financial advisory services since 1984
Transaction volume in excess of $20 billion
Activities cover Ship, Yacht and Corporate Finance, M&A Advisory, Fund Management and Real Estate Finance
Specialization in Europe, the Middle East and the Far East
Offices in the United Kingdom, Greece, Turkey and Singapore
Consultant to KfW IPEX-Bank, a German, state-owned bank, for ship financing in Greece
Representative of Barclays Marine Finance in Greece for yacht financing
Executives and Associates possess expertise in several sectors, including shipping, financial institutions, energy, food & beverage, telecommunications, and transportation
Independent and impartial advice to our clients
Founder and manager of Merlin Tankers.
Independent, privately held advisory group with a 25 year history
Eurofin Intl.(London – U.K.)
Eurofin S.A.(Athens – Greece)
Medfin Ltd.(Istanbul – Turkey)
Seafin Pte Ltd. (Singapore)
EUROFIN GROUPGlobal Presence
3
What We Offer
In-depth market and product knowledge, accumulated from 25 years of experience and by employing seasoned professionals
Capacity to approach several investor pools and sources of funds in Europe, the Middle East and the Far East either directly or
through partnerships with investment banks in the industrial and geographic sectors we cover
Assisting corporate and private clients in acquisitions and divestments, providing full services, including valuation analysis, financial
modelling and preparation of Information Memoranda, due diligence, execution support, negotiation and closing of transactions
Expertise in advising and arranging project financing for the tourist development sector: hotels, casinos, marinas, golf courses.
M&A expertise. We can create liquidity and offer entry/exit options for clients by managing the entire M&A process and negotiating a
purchase/sale. We offer strategic assessment of alternatives, merger candidate identification and transaction negotiation and
execution
Financial advisory services in shipping and other sectors
Investment Banking
Development Banking
Our Capabilities
Debt Equity Project Finance
Private placements
IPO & Public offering services
Structured products
Capacity to approach several investor pools
Ship financing
Plain vanilla and structured instruments
Loan syndication
Mezzanine finance
Private placements (Euro, USA, 144A)
Structuring
Placement
Monitoring
Privatization
Restructuring
Divestments
M&A Advisory
Bi-Lateral programs
EBRD/IFC/BSTDB
Public Sector
BOT/PPP advisory
Infrastructure projects
4
What We OfferExperienced professionals, servicing a wide range of
products & clients
Product Capability
Client Base
Shipyards
Financial Institutions
Shipowning Companies
Public Sector
Corporate Entities
Individual Investors
Structured Products
Vessel Sale & Purchase
Facilitation
Capital Markets (Debt
& Equity)
Specific Market/Sector
Analysis
Investment Banking (M&A
Advisory)
Ship Financing Real Estate
Finance & Development
Yacht Financing
Fund Management Chartering
5
Shipping FinanceActive in shipping finance since 1984, with over $15B in
transactions
Transactions
Newbuilding acquisitions
Fleet financing
Single vessel financing
Second-hand vessel financing
Sale/Lease Back
Conversion financing
Refinancing
Debt restructuring
Asset securitization
Port acquisition/development
Shipyard acquisition/development
Shipping Finance
Advisory Services: Financial Institutions
Advisory Services: Shipowning Companies
Identification of target clients and/or markets for banks
Specific market and sector studies
Bank shipping portfolio evaluation
Sale/Restructuring of shipping loans or portfolios
Assistance on non-performing loans
Debt procurement , negotiation and placement
Plain vanilla or structured instruments
Sale & Leaseback transactions
Financial restructuring
Financial engineering
IPO advisory
Stock exchange advisory
Private placements (equity & debt)
Joint ventures
Strategic alliances
Extensive experience, covering a wide range of advisory services, including debt, equity, financing, sale & purchase, portfolio workouts & evaluations and general advisory mandates for institutions
Excellent track record for execution, confidentiality &reliability
We network with clients and financial institutions from around the world to guarantee global coverage
We assist and advise during the negotiation, documentation and completion stages of transactions
Preferred partner by both Shipowners and Financial
Institutions
6
Consultant to KfW IPEX-BankStrong partnership / Multinational reach
KFW IPEX-Bank
Multinational reach
Strong equity base
Wholly-owned subsidiary of KfW Bankengruppe
Access to financing at market rates at all times
5th largest shipping bank globally, with a shipping
portfolio of $22.5 billion
Comprehensive range of financial services in
which KfW Bankengruppe competes with other
banks - corporate finance, structured finance,
short-term trade finance, etc
Total loan portfolio of EUR 62.1 billion
KfW IPEX-Bank Credit Rating: AA- by S&P; Aa3
by Moody’s
Solid market position in international project and
export finance
Eurofin
Eurofin’s Athens office appointed as consultant to
KfW IPEX-Bank, aiming at enhancing the bank’s
focus and exposure to the Greek shipping
market
Eurofin assists KfW in developing a high quality
Greek shipping loan portfolio by:
Providing the bank with ongoing market
intelligence on the Greek shipping market,
Introducing Greek ship owners to the bank
and
Identifying ship financing opportunities for
the bank
7
Consultant to KfW IPEX-BankKfW IPEX-Bank: 5th largest shipping bank with a $22.5
billion portfolio
0
10
20
30
40
50
6050
.6
36.0
30.0
25.2
22.5
20.6
16.3
15.9
12.8
12.5
11.4
10.5
9.9
9.7
9.4
2008 Shipping Loan Portfolio League Table
Tota
l P
ort
foli
o V
alu
e (
in U
SD
bil
lio
n)
Sources: Marine Money Research, Petrofin S.A., Petrofin Bank Research
* Combined HVB and Unicredit portfolios are $12.7 billion.
8
Corporate FinanceSeasoned advisors with access to investors and sources
of capitalM&A Advisory
IPO/Public Offering Services
Valuation
Sector Analysis
Buyer/Seller Research
Due Diligence
Pricing/Financing
Negotiation/Closing
Introduction
Valuation
Stock Exchange Committee Submissions
Investor Presentations
Pricing/Launch
M&A Advisory
Sovereign Wealth Funds
Private Equity Sources
Quoted Capital Markets and/or
Stock Exchanges
Institutional Investors
Venture Capital: UK, USA and
Europe
Financial Institutions
We Possess Expertise To:
Perform financial evaluations and modelling
Participate in technical and financial due diligence & execute commercial due diligence
Transfer knowledge and analysis of shipping (both of market fundamentals and trends of a particular transaction or investment opportunity) to sector or client specific deals
9
Capital MarketsIn-house expertise in a wide variety of products, both
equity & debt
High Yield Instruments
Public Offerings
IPO Advisory
Investor Pools
Bond Issuance
(Euro, US)Hybrid
Instruments
Private Placements
Total Return Swaps
Equity Transaction Clients
Pharmaceutical – Rights Issue
Software House – Venture Capital Fund
Oilfield Services – Financial Investor
Shipping Group – Financial Investor
Stock Exchange – Sector Analysis
Debt Transaction Clients
Shipping – Various Facilities
Utility – Syndicated Loan
Utility – Eurobond, 144A
Transportation – Commercial Credit
Shipyard – Construction Finance
Infrastructure – Project Finance
Our Strengths
Familiar with a variety of products and the structuring of transactions aimed at international equity and debt markets
Experience with sophisticated investors
We approach several investor pools in the execution of our mandates
In larger transactions we may associate ourselves with one or more prime international financial institutions
10
Yacht FinancingWide range of Yacht Financing solutions
Advisory Services Offered To
High Net-Worth Individuals
Yacht Operators
Yacht Dealers
Shipyards
Financial Institutions
Advisory Services
Newbuilding Acquisition
Second-hand Vessel Financing
Refinancing
Debt Restructuring
Loan Agreement Negotiations
Assistance with logistics and project
completion
Identification of Target Clients and/or
markets for Banks
Sale / Restructuring of loans
Assistance on non-performing loans.
11
Relationship with Barclays Marine FinanceDynamic partnership
Barclays Marine Finance
Barclays Bank PLC
One of the largest banks in the world by market
capitalization
Has been in existence for over 300 years
Operates in 60 countries worldwide
Has more than 118,000 employees and 25
million customers
Barclays Marine Finance Division
One of the key global financiers for yachts, with a
dedicated team based in the UK, possessing a
profound knowledge of the industry and an
established track record
30 years of experience in yacht lending
Global customer base; 5,000 marine customers
1,000 marine advances per annum
Eurofin
Barclays Marine Finance and Eurofin have
signed an agreement with the objective of jointly
developing the Greek yacht financing market
Eurofin’s involvement in shipping for close to 25
years and its in depth knowledge of the yacht
financing industry has made Eurofin an ideal
partner for Barclays Marine Finance in the Greek
yacht financing market
This partnership can offer to the Greek market
tailor made solutions to their financing
requirements
12
Merlin Tankers
Specialized vessels performed well in an otherwise difficult market. Strategy: Capitalize on opportunities that exist in the seaborne transportation of edible oils, biofuel and easy bulk
chemical products by investing in suitable ships and aiming to become a major international player in the sector
Merlin Tankers Launched in 2006. Founded and managed by Eurofin. Incorporated in the Marshall Islands
Principal Objectives Invest in shipping through the acquisition of specialized vessels Generate profits by managing and operating the vessels Pay a substantial annual dividend Achieve capital gains from the eventual disposal of the vessels or through
an IPO on a major Stock Exchange
Vessel Types 35,000-50,000 dwt Large Medium-Range (MR) IMO II / IMO III Chemical Product Tankers
Target Number of Vessels: 5-10 vessels
Term: 7 years from June 2006
Exit Strategy Outright sale of vessels or Initial Public Offering (IPO). If the company were to be liquidated today, the cumulative return to investors would be 60%.
An opportunity for investors to participate in the ownership of specialized vessels
2007 Performance Revenues: $30.0m Net Income: $2.7m EBITDA: $10.0m Equity: $19.9m Net Debt: $13.7m * Dividend: $2.0m
* Net Debt at YE 2008 estimated at $8.4m. 13
Fund ManagementCapitalizing on opportunities in the shipping industry
Eurofin is seeking to establish and manage one or more funds, encompassing a variety of investment alternatives in the shipping sector
Opportunity
• Prevailing shipping and financial market conditions open up a wide range of investment opportunities in shipping
Objective
• The establishment of a Fund geared towards investments directly related to the shipping industry• The creation of tailor-made investment vehicles, based on investor risk profile and investment horizon
Specialised & Innovative• Investments in shipping projects only• Moderate to high expected dividend yield• High expected overall annual returns• Thorough analysis, well chosen projects, transparent reporting• Variable maturity periods and exit strategies
Track Record• Founder and manager of Merlin Tankers since 2006• In-depth knowledge and experience in all aspects of the shipping industry• Established relationships with shipowners, charterers, financial institutions• Seasoned professionals with a long history in shipping
14
Medfin Ltd.
Activities cover Ship Finance, Sale & Purchase Services and Corporate Finance
Transactions totaling close to $3 billion since 1999
Assisted by Eurofin, acts as financial advisors to the Turkish shipping industry
In-depth knowledge of the Turkish shipping market helps potential financiers avoid pitfalls
Carries own due diligence to ensure accuracy and completeness of information
Assisting clients in formulating investment and borrowing strategies
Advice provided both in terms of negotiating with financial institutions and with commercial aspects of loan documentation
In-depth local knowledge & intelligence
Catering exclusively to the financial requirements of the most prominent names in Turkish shipping
Covering the Turkish market since 1999
EUROFIN GROUPMedfin Ltd.
Eurofin Intl.(London – U.K.)
Eurofin S.A.(Athens – Greece)
Medfin Ltd.(Istanbul – Turkey)
Seafin Pte Ltd. (Singapore)
15
Seafin Pte Ltd.
Formed in 2007 as a Joint Venture between Eurofin and the Japanese shipbroking firm Seven Oceans
Objective: To maximize the synergies between the Japanese and Asian shipping network and experience with the European knowhow and expertise in shipping finance
Provides to shipowners, charterers, investors, banks and finance houses with a full range of financial services including financial advice, deal structuring, transaction and financial support, and financial market intelligence
Involved primarily in Asian-based deals….
….but at the same time, it connects Eurofin’s existing clients (both owners and banks in Europe) with Asian shipping, and vice versa
Assistance to shipping companies in raising debt financing (bilateral or club deals) for specific projects involving the acquisitions of newbuildings and 2nd hand vessels in cooperation with Asian Banks
Mediation and facilitation services to regional banks with an interest in participating in club deals structured in Europe
Sale and Lease-back transactions by raising equity funds through investment vehicles which target investors with an interest in shipping but with no previous exposure in the industry
Servicing Asian markets and clients
EUROFIN GROUPSeafin Pte Ltd.
Eurofin Intl.(London – U.K.)
Eurofin S.A.(Athens – Greece)
Medfin Ltd.(Istanbul – Turkey)
Seafin Pte Ltd. (Singapore)
16
Real Estate
Eurofin-Real Estate was established in the summer of 2008 with two key objectives:
To expand the offering of the Eurofin Group in the realm of Real Estate.
Eurofin-Real Estate supports the Group’s clients in raising and structuring debt and equity capital for their real estate projects. On the debt side in particular, Eurofin-Real Estate provides specialist’s advisory services for work-outs and restructuring of existing investment and development loans amidst the current challenging credit environment.
To pursue private equity real estate investment opportunities across Europe and other target territories, on behalf of Eurofin’s investor base.
Investment themes are driven by the current challenging credit and economic environment and follow recent dislocations in the real estate capital markets. Current target investments include (i) direct acquisition of property assets in specific European geographic areas (ii) capital injections at mezzanine or preferred equity level in the capital structure for income producing as well as development real estate projects.
The real estate platform utilizes its strong in-house expertise and professional network in the real estate sector, complemented by the input of international affiliates.
Expanding Eurofin Group’s offering in the realm of Real Estate
EUROFIN GROUPEurofin - Real Estate
17
Eurofin Intl.(London – U.K.)
Eurofin S.A.(Athens – Greece)
RelationshipsGlobal, deep & established relationships
Shipowner Nationalities
Financial Institutions
BritishChineseFrenchGreekIndianItalianKuwaitiLebaneseMaltese
GE CapitalHSH NordbankJP Morgan ChaseKfW IPEX-BankLloyds TSBMarfin BankNational Bank of AustraliaNIB CapitalNord - Deutsche LandesbankPiraeus BankRoyal Bank of ScotlandSociete GeneraleUnicredito/San Paolo IMIVereins und WestbankWest LB
Alliance & LeicesterBank of AmericaBank of IrelandBank of ScotlandBNP ParibasBremer LandesbankBarclays BankCalyonCaterpillar FinanceCredit SuisseCorner BancaDeutsche SchiffsbankDen Norske BankDekabankDVB NedshipFortis Bank
Institutional Partners
BOT-UFJBZW BarclaysCCFCantor FitzgeraldCharterhouseCredit SuisseCSFPCitigroupDahlman Rose
Deutsche BankHSBCLazard FrèresLehman BrothersMacquarie BankMorgan StanleyRoyal Bank of ScotlandSanwaWarburg Dillon Read (SBC)
Consulting Firms
Boston Consulting GroupBuck ConsultantsFirst ConsultingKPMGMcKinsey & CoPrice Waterhouse Coopers
Rating Agency
Standard & Poors
Law Firms
Allen & OveryClifford ChanceConstant & Constant/TLTHill DickinsonHolman Fenwick WillanInce & CoLinklater & PainesNorton RoseReed SmithStephenson HarwoodWatson, Farley & Williams
NorwegianRomanianSpanishSwedishSyrianPortugueseTurkish UAE
18
Key ExecutivesAnthony B. Zolotas, CEOMSc, M.I.T. Prior to establishing Eurofin, Anthony held executive positions with a number of International Banks in London specializing in shipping and corporate finance. At Eurofin he has been instrumental in building a strong and successful financing placement business and in establishing Eurofin as a pre-eminent force in shipping finance in Greece, Italy and internationally, as well as in directing the diversification of the group’s portfolio of activities.
Janos F. Koenig, CFOMA (Econ), University of Sussex. Janos has had extensive experience in a wide variety of global sectors, including ship financing, oil trade financing, corporate and project funding, international syndications, loan restructuring and vessel management. A co-founding member since 1986 when he joined Eurofin from BAII plc, a London-based merchant bank where he was Director responsible for International Finance. Prior to that he was with Bank of America in Greece, Egypt and London, specializing in corporate and shipping finance, loan restructuring, specifically in connection with the Turkish Sovereign debt in the late 1970s and with the shipping portfolio in the early 1980s.
Ilhan YirmibesoglouBA in Business Administration and Finance, Bosphorous University, Turkey. Ilhan has specialized in ship management, S&P, dry cargo contracting, chartering and shipping finance. He held majority shares and senior executive positions in a number of ship owning companies controlling dry cargo vessels and several maritime service companies in Turkey. Between 1996 and 1998 he has also acted as non-exclusive marketing and protecting agent for Bank of Scotland shipping portfolio in Turkey. As co-founding partner and Managing Director of Medfin, since 1999, he has been instrumental in building a strong and selective portfolio of clients and in establishing Medfin as a pre-eminent force in shipping finance in Turkey.
Alexandros ZaracoudisMSc in Finance, Bentley College, Boston. After pursuing a port management project in the Caribbean, Alexandros joined Eurofin in 1997 where he was involved with mergers & acquisitions, private placements, debt finance & ship finance. From 1999 to 2001, Alexandros was responsible for a private equity fund for the valuation, implementation and follow-up investments in the technology, animation & financial related sectors. In addition, he was responsible for private placements and active portfolio management in equities and fixed income securities in Europe, Asia and the Americas. Since 2001, Alexandros has been active in expanding Eurofin’s shipping & corporate finance activities worldwide, started the yacht finance division and launched Merlin Tankers.
19
Victoria Santos-PiresVictoria joined Eurofin as an Executive in January 2003. She is a ship finance specialist, with particular expertise in loan portfolio management and loan transaction implementation. In addition to her extensive experience of the shipping sector, she has outstanding client, transaction and bank syndicate skills, along with financial and documentary administration abilities. Her areas of expertise also include loan restructuring, foreclosures and vessel sales. In a ship finance career spanning more than fifteen years to date, Victoria has held management positions with Chancery Bank PLC and with the Tufton Oceanic Group, where she was Loan Portfolio Manager.
Key ExecutivesAlan A. McCarthyAlan has been a shipping financier since 1970. He has held senior positions for what is now the ANZ Bank with special emphasis for Greek clients. In 1977 he joined Oceanic (now Tufton Oceanic Group) as one of the founding members. He held various positions, including head of loan portfolio, marketing the emerging markets of Eastern Europe and specialised in shipping debt restructuring and recovery. More recently he has advised shipping banks in conjunction with Theissen on the development and marketing of cutting edge credit risk modelling products for banks in the light of the New Basel Capital Accord.
Anggelos P. SkutarisMBA, American Graduate School of International Management (Thunderbird). BSc Economics, Arizona State University. Anggelos was an Investment Banker for 15 years, having worked for major financial institutions such as Morgan Stanley, Goldman Sachs and Calyon. Following that, he served as the Group Treasurer of Titan Cement Co. SA, where he structured one of the largest Syndicated Facilities for Greek corporate entities and helped design and implement the company’s global debt and liquidity management structure. Before joining Eurofin he gained experience in shipping as the CFO of Atlas Maritime, an Aframax owner/operator.
Dimitris BelbasMBA, INSEAD. BSc & MSc in Mechanical Engineering, National Technical University of Athens (ΕΜΠ). After working as a Logistics Manager for a plastic pipes' manufacturer in Greece, Dimitris joined Lamda Shipyards as Deputy Commercial and Technical Director, focusing on account management, drafting quotations and negotiating contracts. After his MBA, Dimitris worked in different industries in the UK and Singapore as a Business Development Manager, where he gained experience in business plan development and execution, while assessing, establishing and enhancing relationships with key accounts. He joined Seafin in 2008 in order to expand the group's corporate finance as well as shipping finance activities in the Asia Pacific region.
Masashi HirutaAfter graduating from Doshisha University, Masashi joined " Kintetsu World Express Co. in 1999, Ltd ", a forwarding company, where he was involved in air and ocean cargo sales and operations, including custom clearance operation in Tokyo, Yokohama and Atlanta Georgia. In 2004, Masashi joined Team Shipbrokers in Singapore where he was engaged in chartering, S&P and new building project broking activities. Masashi joined Seafin in Singapore in 2007, with the goal of establishing Seafin and developing the company’s activities in Sale & Leaseback transactions, ship financing, as well as general advisory work for shipping.
20
Yannis AlexopoulosMSc. Shipping, Trade and Finance, City University Business School, BSc. Economics and Business Economics, Southampton University. Gained experience in shipping through short-term employment in the Piraeus operations of Golden Union Shipping Co. and Carriers Chartering S.A. and Angus Graham & Partners in London. Joined Laiki Private Banking, an HSBC Group associate in 1999. Held positions in both portfolio management and client advice, servicing expatriate as well as offshore High Net Worth Individuals. Was recruited by the Athens office of Eurofin in 2002.
Tassos Kitsantas, (Real Estate)MBA qualification, RSM-Erasmus, NL; MSc, UCL London, UK; Masters Degree in Architecture and Building Engineering, University of Thessaloniki, GR & Delft University of Technology, NL. Tassos is a co-founding partner and head of Eurofin Real Estate, based in London. He has over 15 years of experience in the Real Estate industry, having worked in finance, investment, construction and development projects across Europe and other territories, including USA. Key appointments include those at ING Real Estate and Hypo Real Estate Bank. On the property finance side, Tassos has dealt with investment & development loans, OpCo/PropCo structures, CMBS, Sharia loans, bridge & mezzanine financings, with transaction volume in excess of EUR 10 billion. He is also a member of the Technical Chamber of Greece.
Contact InformationEurofin International LtdSuite 301B Harbour YardChelsea HarbourLondon SW10 OXDUnited Kingdom
Tel +44 207 751 5515Fax +44 207 751 5516eurofin@eurofingroup.com
Eurofin SA5 Koumbari StreetGR-10671 AthensGreece
Tel +30 210 362 3334 Fax +30 210 364 0373eurofin@eurofingroup.com
Seafin Pte Ltd.390 Havelock RdNo 04-02 King's Centre169662Singapore
Tel +65 (6733) 0298Fax +65 (6733) 0698seafin@seafin.com.sg
Medfin LimitedBagdat Cd.Nurullah Bey Apt.No:394/1234740 Suadiye-IstanbulTurkey
Tel +90 216 363 0025Fax +90 216 411 4436medfin@medfin.com
21
top related