edelweiss credentials - syndication (1)

8/17/2019 Edelweiss Credentials - Syndication (1)

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Debt Advisory Credentials

Edelweiss Financial Services Ltd

Edelweiss Financial Services Limited


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Others

Successfully completed more than 200

transactions to date

Strong capital raising track record in infrastructure

space

Investment

Banking

Amongst the largest domestic institutional

brokerage houses

Research coverage of over 187 companies across

20 sectors

Network of 216 offices & ~5,700 sub-brokers

Ranked #1 in non institutional distribution in FY11

and #2 in retail distribution of IPOs in FY12

Ranked #1 in IPO distribution in FY14 in

Retail+HNI Categories taken together

Credit & Fixed

Income

Corporate Loan Book Size of ~ INR 58 bn

Leading debt arranger in DCM space with overall

market share of ~9%

Debt Advisory services spanning Syndication and

Restructuring with ~INR 110 bn mandatedtransactions

Founded in 1995 and has evolved into a diversified financial services firm

~4,001 professionals with 216 offices spread across India & overseas

Credit & Fixed Income group of ~100 professionals

Group Net worth INR 30.95 bn as on March 2014 (including Minority)

Voted as India’s ‘Best Managed Company’ by Finance Asia in 2013 &

2014 – Two years in a row – in mid cap/upto $ 500 mn market cap Cos.

Distribution

Financial Performance (INR mn)

0

500

1,000

1,500

2,000

2,500

3,000

0

5,000

10,000

15,000

20,000

25,000

30,000

Total Income (LHS) PAT (RHS)

2004 2007 2013

Key Institutional

Investors

Alternative Assets – AuM/AuAs of over USD 1.96bn equivalent spread across multiple funds,

Structured Products & ARC

Life Insurance JV with Tokio Marine; INR 5.5 bn

start-up equity infusion in the company by the JV

partners; further infusion of INR 2.5 bn in FY14

Sourcing and distribution of agri commodities and

precious metals

BIH SA

SAIF Partners

InstitutionalEquity

Edelweiss Financial Services Limited – A Leading Diversified Financial Services Firm

2014

GPC

Overview Group Businesses


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Credit & Fixed Income (CFI) Overview

Key Success Factors

Corporate and Lender Relationships

Structuring Capabilities

Experienced Team

Domain Knowledge & Expertise

Process Efficiencies

Effective Risk Management

Collateralised Lending

Structured Financing

Bridge and Episodic Financing

Corporate

Finance & Credit

Real Estate

Real Estate Financing Real Estate Investment

Leasing &

Equipment

Finance

Leasing Solutions

Equipment Financing

CAPITAL

Fixed Income

Advisory -

Restructuring

Corporate Debt Restructuring (CDR)

Bilateral Restructuring/ One Time Settlements/ Negotiated Settlements

Recapitalization

Fixed Income

Advisory -

Syndication

Project Financing

Working Capital Financing

Balance Sheet Financing

External Commercial Borrowings

Refinancing / Securitization / Alternate Capital

Debt Capital Markets

Long Term

Short Term

Sales & Broking

Fixed Income

Markets

ADVISORY


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Product Offering

Greenfield

Project Financing

Expansion

Financing

Acquisition

Financing

Restructuring / CDR

Recapitalization

Resetting of

Credit Lines

G R O W T H

CORPORATE LIFE CYCLE

NCDs/ Bonds/ Corporate Loan

Complete debt solutions across growth and stress situations

Debt Syndication Debt Restructuring

Fixed Income Markets


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Team Credentials – Syndication

Diversified experience: Executed mandates in Infrastructure, Real

Estate, Chemicals, Metals etc

Mandated transactions in excess of INR 25 bn across sectors:

Infrastructure, Real Estate, Renewable Energy, Hospitality,

Manufacturing, Textiles, NBFC, Retail, etc

Strong relationship with Banks (PSU/Private), Institutions and Lending

Agencies

Expertise of 25+ members team, to execute the transaction from

initiation stage to deal structuring to debt placement

Syndication Experience

(> INR 240 bn)

Diverse sector experience & strong lender relationships

37%

18%

10%

9%

8%

6%

6%

5%

4%3% 2%

Infrastructure NBFC Diversified Real Estate

Others Chemicals Manufacturing Media

Metals Sugars Cement


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Structured Finance

INR 1,300 mn

Select Experience in Real Estate Sector

Construction Finance

INR 800 mn

Structured Finance

INR 1,600 mn


INR 1,200 mn


Advisory

INR 7,000 mn

Structured Finance

Advisory

INR 500 mn

Structured Finance

Advisory

INR 420 mn


Advisory

INR 880 mn

http://dreamzrealtyconcept.com/new_properties.htmlhttp://www.google.co.in/url?url=http://www.websociety.in/clients.html&rct=j&frm=1&q=&esrc=s&sa=U&ei=_W1XVJz-Bc7guQT7nIDQAQ&ved=0CB0Q9QEwBA&usg=AFQjCNHq0w23aWGKTb4k0Uw-q7OV_kJUnQhttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://www.google.co.in/url?url=http://www.ashar.in/ashar_contact_us.htm&rct=j&frm=1&q=&esrc=s&sa=U&ei=4WtXVJbnCpSTuASKkoHADg&ved=0CBUQ9QEwAA&usg=AFQjCNHRD3XJqgRJ8aFaXmVXQBI-JRfLPQhttp://www.google.co.in/url?url=http://goldengatepropertiesbangalore.blogspot.com/&rct=j&frm=1&q=&esrc=s&sa=U&ei=k2tXVJi8AYGRuASi3oKwAg&ved=0CBUQ9QEwAA&usg=AFQjCNEzXMjWF-Xt0L8GKHwqh_Qd67h6ughttp://www.google.co.in/url?url=http://www.kamala.co.in/&rct=j&frm=1&q=&esrc=s&sa=U&ei=empXVJqGNdORuAS9loGAAg&ved=0CCMQ9QEwBw&usg=AFQjCNEP3o0QnWUJKOuPVFly0GAGcDcgAAhttp://www.google.co.in/url?url=http://ruparel.in/orion.php&rct=j&frm=1&q=&esrc=s&sa=U&ei=vWlXVPbNDo6KuwSVgIGYAg&ved=0CBkQ9QEwAg&usg=AFQjCNHM7yHDwA6aam9mKVrr5pDKHuu1Lghttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://www.google.co.in/url?url=http://www.realestateindiaonline.com/members/nirmal-lifestyle.html&rct=j&frm=1&q=&esrc=s&sa=U&ei=K2lXVNfJINaLuwTQ5oGYBw&ved=0CBUQ9QEwAA&usg=AFQjCNF7q8YF-hcg6onumH29DIRol_DvIQhttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://www.google.co.in/url?url=http://builders.99acres.com/casa-grande-builders-developers-bid-271&rct=j&frm=1&q=&esrc=s&sa=U&ei=5mhXVNbXOIijugSl6oCoBw&ved=0CBcQ9QEwAQ&usg=AFQjCNH4uEe9ApKh81ESwX78X8lcTlx4cAhttp://www.google.co.in/url?url=http://en.wikipedia.org/wiki/File:Edelweiss_Capital_logo.svg&rct=j&frm=1&q=&esrc=s&sa=U&ei=GmhXVInuFpeGuAT5ioHwAQ&ved=0CBcQ9QEwAQ&usg=AFQjCNFjz3yQSUoMfXFlSIxtHprAF8_DvQhttp://dreamzrealtyconcept.com/new_properties.html


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Select Transactions


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Select Transactions


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Select Transactions


11/29

Case Study : Project Finance

Kayem Foods Industries Pvt Ltd (KFIPL), successfully completed debt raise of INR 2,142

million Project Finance for KFIPL’s Breakfast Cereals Manufacturing Unit from consortiumof lenders including Central Bank of India (lead bank), Bank of Baroda, Indian Overseas

Bank & Vijaya Bank.

Overview

Incorporated in 1986, KFIPL is promoted by Mr. Rakesh Mahajan having over 40 years of

experience in food processing industry. Mahajan Group companies viz. KFIPL & Pan Foods

Ltd. have extensive presence in Baby Cereal Ingredients, Mayonnaise, Ketchups, Jams &

de-hydrated fruits & vegetables.

The company is setting up a new facility at Rai, Haryana to manufacture high growth and

high margin Breakfast Cereals, Oats & Cereal Bars with an aggregate capacity of 42,300

TPA

About the Company

Breakfast Cereals is a relatively nascent industry in India. It is difficult to identify industry

peers & establish benchmarks. Domestic lenders are also unfamiliar with industry

dynamics.

In such an environment, raising funds for a small player looking to scale up 8-10 times of

existing operations, presented a unique set of challenges.

About the Transaction


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Case Study : Non Banking Finance Company

HDB Financial Services Limited (HDBFS) successfully raised INR 4,500 mn from Bank ofBaroda and Punjab & Sind Bank to meet their fund raising requirements

Overview

HDB Financial Services (HDBFS or the “Company”) is a non-banking financial company

established by HDFC Bank in June 2007. HDFC Bank owns 97.38 per cent share in

HDBFS’s as on December 31, 2013

The company is rated AAA/A1+ (Crisil)

About the Company

Edelweiss Financial Services Limited acted as a Sole Financial Advisor and Arranger

Edelweiss aided the company in structuring and attaining optimum pricing for the

term loan facilities. Major challenge was bringing the pricing offered by the Lenders in

line with the expectations of the Company



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Case Study : Structured Finance

Aditya Birla Retail Limited (ABRL ) successfully raised INR 2,150 mn from Indusind Bankto meet their capex and long term working capital requirements.

Overview

ABRL is the retail venture of Aditya Birla Group (US$ 40 billion Group). ABRL operates

a chain of supermarkets and hypermarkets at a national level.

About the Company

The major challenge was the Company not achieving break even as yet and majority

of its borrowings being short term or medium term thereby putting strain on

operational cash flows.

Edelweiss was instrumental in structuring a term loan of 6 year door-to-door tenor

with diluted security and very competitive pricing.



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Nitin Spinners Limited (NSL), successfully raised INR 2,000 mn Term Debt from

Consortium of Lenders - Punjab National Bank, Bank of Baroda, State Bank of Bikanerand Jaipur and Syndicate Bank for expansion of existing spinning capacity at Bhilwara,

Rajasthan.

Overview

NSL is engaged in the manufacturing of cotton yarn and cotton knitted fabrics with

installed manufacturing capacity of 22,650 tons of yarn per annum

About the Company

Company undertook a major expansion programme to double the capacity with a

project cost of INR 2860.00 mn

Textile industry has faced challenges in terms of higher input costs, unstable demand

and heavy competition. Several textile companies have underperformed and

continue to be under liquidity stress

Despite the challenges, Edelweiss managed to raise funds for the company, which

had exited Corporate Debt Restructuring Forum in the same year at very competitive

terms from lenders



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Case Study : Non Banking Finance Company

Fullerton India Credit Company Limited (FICCL) successfully raised INR 5,000 mn from

State Bank of India, State Bank of Hyderabad and State Bank of Bikaner & Jaipur to

meet their fund raising requirements

Overview

FICCL is a non-banking financial company established by Temasek Holdings (Pte) Ltd in

Dec 2005. Temasek Holdings is an investment company owned by the Government of

Singapore with a Net Portfolio of $179 billion as on 31st March, 2014

FICCL is rated AA+/A1+ (ICRA / Fitch Ratings)

About the Company

Edelweiss Financial Services Limited acted as a Sole Financial Advisor and Arranger

FICCL being a Loan Company, major challenge faced was arranging term loan facilities

from SBI & its subsidiaries at competitive pricing with largest exposure from a single

lender, since its inception.



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Essel MP Energy Limited (EMPEL) successfully raised INR 1,961 mn Term Debt fromConsortium of Lenders for setting up 20 MW Solar Power Project at Maharashtra.

Overview

EMPEL is a part of Essel Group and is a 100% subsidiary of Essel Infraprojects Limited,

one of the leading Infrastructure Companies in India.

About the Company

EMPEL was awarded development of 20 MW solar power project by NTPC Vidyut

Vypar Nigam Limited (NVVN) under Jawaharlal Nehru National Solar Mission.

The financial closure was achieved in less than 3 months despite power industry

related concerns such as sectoral exposure limits and land acquisition issues.



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Case Study : Balance Sheet Funding

Edelweiss arranged Balance Sheet funding (Corporate loan facility) of INR 800 million for

augmenting the net working capital position as well as meeting repayment obligations

Overview

Incorporated in 1982, JBF Industries Limited (“JBF”) is one of the largest polyester value

chain companies in India having presence in India and few other countries. JBF Group is

engaged in the manufacturing of polyester yarn, polyester chips and polyester films.

The Group has manufacturing facilities at Gujarat, UAE, Bahrain and Belgium with a current

polymerization capacity of 1.5 MMTPA and downstream capacity of 0.5 MMTPA.

The Company’s bank facilities have been rated A-/A1 by CARE and FITCH.

About the Company

Edelweiss arranged Balance Sheet funding (Corporate loan facility) of INR 800 million for

augmenting the net working capital position as well as meeting repayment obligations.

The major challenge was obtaining funding at competitive terms, especially when the Banks

are apprehensive in giving corporate loans. Edelweiss successfully managed to arrange the

corporate loan within the envisaged time frame.



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Case Study : Working Capital

Diamond Power Infrastructure Limited (DPIL), successfully raised INR 1,000 mn

Working Capital Loan from State Bank of Hyderabad to meet their working capitalrequirements and refinancing of it’s select existing facilities

Overview

DPIL is engaged in the manufacture of aluminum conductor steel reinforced

transmission conductors, low tension and high tension cables and transmission towers

One of the top five power cable manufacturers and largest and only integrated

manufacturer of Power equipment in India

About the Company

The major challenges were the power sector exposure for Bank, replacement of

existing bank with new one and better pricing structure

Edelweiss arranged working capital funds for the company at very competitive terms

despite the challenges involved


C S d i li i


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Case Study : Recapitalization

PIX Transmissions Limited successfully sold its Hydraulic Hose & Fitting Division to

Parker-Hannifin India Pvt. Ltd. (a 100% subsidiary of US based Parker Hannifin Corp.

with a market cap of ~ USD 12 bn).

Overview

PIX Transmissions Limited is engaged in the business of Mechanical & Fluid Power

Transmission products. These products find application primarily in industrial,

automotive and agricultural space.

About the Company

Upon evaluation of various alternatives, it was decided to partner / sale Hydraulic

Hose & Fitting Business to reduce the stress on the cash flows and recapitalize its

major business i.e. Belt business for future growth engine.

Top 3 out of 4 global players evinced interest in partnering / acquiring the Company’s

Hydraulic Hose & Fitting Business. The transaction value (for 1/3rd of the business)was higher than the Enterprise Value of the entire Company.

Transaction posed challenges such as smaller operation size of the Company in

relation to the acquirer, bridging price expectations & overall transaction structuring.



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Fixed Income Markets

Success in Debt Capital Markets


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Success in Debt Capital Markets

Appointed as Arranger to key Primary Issues for FY 2015 and FY2014

FY15

In FY15 we lead managed the Public Issues of ECL Finance Sub Debt, Shriram Transport Finance, IFCI and SREI Infrastructure Finance

Secured NCDs

We garnered more than 40% of the total allotted amount in these issues

We arranged NCD issuances of more than INR 23,000 crs through private placement for issuers including Family Credit, India Infoline,

REC , PFC, KMPL, KRCL, PGCIL, Andhra Bank, OBC, Vijaya Bank etc

FY14

Of the 35 public issues in FY14, Edelweiss lead managed 11 issues

We placed NCD’s of: PFC, REC, PGCIL, HUDCO, HDFC,SREI, Aditya Birla Finance, Aditya Birla Nuvo, Tata Capital, Tata Motors, Marico

Industries, L&T Infra, Sundaram Finance, SBI Global Factors, Hero Cycle, Bajaj Finance etc

League table summary – H2FY 2015# (Source: Prime Database)

One of the strongest distribution networks on the street

Institutional: Relationships with 500+ clients including NBFCs, FIs, Banks, Insurance Companies, MFs and FIIs across US, Europe and South East

Asia

Non-Institutional: Currently ~INR 32,000 mn of AuA across a broad based clientele. Also, one of the largest IPO financiers to the non

institutional segment

*Excluding banks #Updated upto Feb ‘15

Number of DealsTotal Amt Mobilized

(INR cr)

League Table

Ranking

Public Issue 6 5,462 1

Private Placement 60 63,978 6*

Short Term 207 323 6

Case Studies


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Case Studies

Managed to place the issue at much

finer yields when compared to peers

in real estate sector

Issued 3 year bonds with a coupon of

10.30% and 5 year paper at 10.20%on the same day

Sizable quality credit transaction in

the real estate space one of the

highlights of the year

Executed the deal leveraging our

relationship with HNI’s

Coordinated with multiple arrangers

to smoothly execute the deal in tight

deadlines

These Cumulative Non- convertible

Redeemable Preference Shares were

issued at a premium of Rs 10/- & face

value of Rs 10/-,

Amongst the few transactions in the

healthcare space. In addition, the

thin supply in the 5-year corporate

segment adds further rarity value to

the deal

The bond has a call option at the end

of 3 years as to most issues which

have both a call and a put. In a first of

sorts, the coupon step downs after

the call exercise

Debt Market – Public Issue of Bonds


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Debt Market Public Issue of Bonds

Debt Market - Select Transactions Closure (PSU)


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Debt Market Select Transactions Closure (PSU)

Debt Market - Select Transactions Closure (Private Sector)


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Debt Market Select Transactions Closure (Private Sector)

Debt Market - Select Transactions Closure (Private Sector)


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( )

Debt Market – Public Issue of Bonds (PSU Tax-Free)


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( )

Senior Management Team


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g

Ravi Bubna

Managing Director & CEO - Credit & Fixed Income.

Over 23 years of experience in Credit & Fixed Income, Corporate Finance, Quantitative Financing, Risk & General Management.

Instrumental in establishing the Edelweiss Group’s credit business and spearheading its accelerated growth.

Prior to joining Edelweiss, worked as Joint President and Country Head - Birla Global Finance Ltd. (Aditya Birla Group)

Akhil Mangla

Head - North India

Over 20 years of

experience in

Corporate Finance

and Credit; has

been instrumentalin establishing the

Corporate Finance

practice in the

North India

Ajay Manglunia

Head - FIM

Over 20 years of

experience;

established the FIM

Desk at Edelweiss;

executed

transactions worth

more than INR 80 bn

in FY13

Om Prakash Jain

Head - Origination

Over 17 years ofexperience in Debt

Advisory; has

originated and

successfully

executed

transactions worth

more than INR 180

bn

Rohit Mehta

Head - Restructuring

Over 19 years ofexperience in Debt

Advisory; has

successfully

executed

transactions worth

more than INR

150 bn

Shrenik Vora

Head - Syndication

Over 16 years of

experience in Debt

Advisory; has

successfully

executed

transactions worth

more than INR

200 bn

Sanjeev Rastogi

Head - Real Estate

Over 18 years of

experience in Real

Estate and Financial

services; has raised

and managed ~INR 23bn equivalent RE

Equity Fund and

deployed ~INR 10 bn

in RE debt

transactions

Sanjay Phadke

Head - CFC & CSG,

Mumbai

Over 16 years of

experience in Corporate

Finance, Structured

Finance, IB andDerivative Sales

Previous assignments

with IDFC, JP Morgan,

HSBC and ICICI Securities

Ram Yadav

CEO – Real Estate

Over 18 years of

experience in Real

Estate sector

Previous assignment

with OrbitCorporation Ltd. ,

Shapoorji Pallonji &

Co Ltd and Mohatta &

Heckel Ltd.

Disclaimer


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edelweiss credentials - syndication (1)

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