Presentation of Syndicated Loans
A World Leading Arranger of Syndicated Loans and Export Credit Financings for the Maritime Industries
Oslo, 12 October 2015
Overseas officeMarket presence
• 11 million customersApprox. 10 million personal customers590 000 corporate customers, incl. Nordic Top 500
• Financial strengthEUR 10.2bn in full year income (2014)EUR 725.9bn of assets (Q1 2015)EUR 28.5bn in equity capital (Q1 2015)AA credit rating
• EUR ~46bn in market capOne of the largest Nordic corporationsA top-10 European bank
… the largest financial services group in the Nordics with global presenceNordea
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What is a syndicated loan?
• Wikipedia: A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as arrangers (Wikipedia)
• Investopedia: A loan offered by a group of lenders (called a syndicate) who work together to provide funds for a single borrower. The borrower could be a corporation, a large project, or a sovereignty (such as a government). The loan may involve fixed amounts, a credit line, or a combination of the two. Interest rates can be fixed for the term of the loan or floating based on a benchmark rate such as the London Interbank Offered Rate (LIBOR).
Typically there is a lead bank or underwriter of the loan, known as the "arranger", "agent", or "lead lender". This lender may be putting up a proportionally bigger share of the loan, or perform duties like dispersing cash flows amongst the other syndicate members and administrative tasks. Also known as a "syndicated bank facility".
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Nordea as Facility Agent and Security Agent
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• Approx. 150 syndicated loans
• Total amount of approx. $50 billion under agency
• Syndication team is located in Oslo but services all of Nordea’s branches:• New York• London• Singapore• Copenhagen• Helsinki• Gothenburg
• Customers: leading international shipping and offshore corporations
• Syndicate members: leading international banks, financial institutions, funds and export credit agencies within shipping and offshore
Experienced TeamComprising of 10 bankers, 3 lawyers, and external insurance expertise
Ronny BjørnådalSVP & Global Head of
Syndicated Loans
Export CreditFinancings (ECAs)
Origination &
Structuring
Syndication &
Agency
Per Finn-HansenCo-Unit Head &
First Vice President(Oslo)
Anne EngenUnit Head &
First Vice President(Oslo)
Peder A. BogenUnit Head &
First Vice President(Oslo)
Kamilla NordbyAssistant Vice President
(Oslo)
Katrine N. RuudAssistant Vice President
(Singapore)
Ylva Cornelia AxelsenFirst Vice President
(Oslo)
Insurance TransactionManagement (Legal)
BankServeand/or other
professional insuranceconsultants
(London)
James BullAssistant Vice President
(Oslo)
Erik VenoldCo-Unit Head &
First Vice President(Oslo)
Jin Ki KimVice President
(Singapore)
Kyle RitterAssistant Vice President
(Oslo)
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Olav RingdalFirst Vice President
(Oslo)
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A Very Effective Business ModelContinuity throughout the life of the loan provides for efficient execution
Structuring
Origination
Agency
Documentation
SyndicationStructuring
Origination
Agency
Documentation
Syndication
Marketing Material Information Memorandums Company Presentations Road-show Bank Meetings Follow-up Prospective Lenders
Term Sheets Negotiations Projections Mandate Letters Commitment Letters Fee Letters
Identifying Business Opportunities
Financing Discussions w/Management
Pitch Books
Drafting of Loan Documentation Managing Syndicate Banks Transaction Management
Day-to-day Business (i.e., Postings to Intralinks of Financial Reports, Insurances, Compliance Certificate, Broker Valuations, Press Releases, Presentations. Amendment Requests, Waivers, Restructurings, Work-outs.
Two of our recent financings
$1,900m Credit Facilities for Gener8 Maritime – NYSE listed tanker company
• Nordea as Arranger, Bookrunner, Administrative Agent and Security Agent
• 3 separate credit facilities (2 with Export Credit Agencies in Korea and China, respectively)
• Financing of a total of 46 oil tankers
• Worked with law firms in New York, Hong Kong, South Korea and UK
$1,312m Credit Facilities for GasLog Ltd. – Bermudan LNG carrier
• Nordea as Arranger, Bookrunner, Administrative Agent and Security Agent
• 12 banks and 2 Export Credit Agencies (Korea)
• 8 newbuild LNG tankers with total value of $1.617 bn
• Contracts with oil majors at day rates of up to $65,000 - 82,000 per vessel
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