The optimal funding solution needs to balance the potential rewards of the planned acquisition with an appropriate level of risk and debt for the acquiring company. Going forward, usage-based leasing arrangements are expected to increase. • Transfer of asset risk – Operating leases and contract hire provide a cost effective solution for SMEs that require the use of an asset for a period shorter than its useful life, removing concerns of asset ownership. This communication is intended solely for distribution to Professional Clients and/or Eligible Counterparties of Commerzbank. This communication is issued by Commerzbank AG and approved in the UK by Commerzbank AG London Branch, authorised by the German Federal Financial Supervisory Authority and the European Central Bank. jim marsh. Joseph Potter ... Sr Relationship Banker at Commerzbank AG Brussels Metropolitan Area. It can be reassuring to lock down funding for 10 years or more. Lease financing, alongside bank lending, has long been a … Details about the extent of our regulation by the Financial Conduct authority and Prudential Regulatory Authority are available on request. Easy access to capital markets for your large scale financing needs with advisory, structuring, syndication and execution. Oliver Schroeder Director - Conduit Finance Frankfurt Rhine-Main Metropolitan Area. Unit trust dealer ... Commerzbank AG Aug 1997 - Jul 2000 3 years. In the years following the financial crisis, these leasing companies experienced a significant contraction in their sources of funding. Funding may be drawn during a construction phase, with repayments delayed until revenues start to come on stream or structured to reflect a ramp-up period or seasonality. M&A Strategy Find out more . But if there’s not a sufficient surplus on the balance sheet, there are plenty of alternatives for SMEs with a strong growth story and solid cashflow projections behind their M&A plans. Please enter a PIN of at least 5 to maximum 45 letters, numbers or special characters. Eoin Moore. Commerzbank recently provided an innovative structured debt facility to Kennet Equipment Leasing, a small ticket leasing company in the UK. By working closely with the company, we were able to isolate the fixed component of the payment stream and acquired these receivables on a non-recourse basis. Do you have any questions or need any help? By determining which assets can be acquired through leasing, a firm can make optimal use of its cashflows and reserve other funding channels for working capital and other financing requirements. Eoin Moore. Eoin Moore, managing director at Commerzbank. Commerzbank Corporates & Markets examines the benefits of leasing in corporate finance, Author: Eoin Moore, Managing Director, Structured Asset Solutions Team, Commerzbank Corporates & Markets. The facility included a drawdown period spanning a construction phase of several years and a highly customised amortisation profile to match the forecast financial profile of the project. In addition, as longer term committed funding, leasing is typically viewed as more secure than bank overdraft facilities. It is not “investment research” or “financial analysis” as these terms are defined in applicable regulations and has not been prepared by a research analyst. This can apply to many assets, and Commerzbank has provided operating leases of varying sizes to clients in a broad range of industries. I’ve outlined below some factors that are key to SMEs achieving fair and realistic financing terms in the syndicated loans market: • Understand what investors are looking for – Many companies, particularly in the export-focused German, Scandinavian and Dutch markets, are highly global in their outlook not only for business opportunities but also for their funding. Banks are the key providers of lease financing to SMEs. Oliver Schroeder. Eoin Moore. Zoe Vincent Credit Adminstration Officer and Analyst at Union Bank UK plc Southend-on-Sea. Eoin has 4 jobs listed on their profile. Von Reinhard Haas, Head of DCM Loans, sowie And, even being lower than the year before, 2016 marked already the second highest year since 2007. Von Reinhard Haas, Head of DCM Loans, sowie Eoin Moore, Managing Director, Structured Asset Solutions und Dr. Christoph Thierolf, Head of M&A. Head of ABCP Conduit Finance at Commerzbank London, United Kingdom 162 connections. Copying and distributing are prohibited without permission of the publisher. Von Reinhard Haas, Head of DCM Loans, sowie Eoin Moore, Managing Director, Structured Asset Solutions und Dr. Christoph Thierolf, Head of M&A. If they don’t, you should think carefully about it. Head of ABCP Conduit Finance at Commerzbank London. But those European SMEs that have remained steadfastly regional may find that they may be less appealing to potential investors and lenders, both in terms of their risk profile and competitiveness. Commerzbank AG London Branch is authorised and subject to limited regulation by the Financial Conduct Authority and Prudential Regulation Authority. Education University College Cork University College Cork ... Donna Moore Primary School Teacher at St. Mary's NS Ballygunner Levels, bases and relief from taxation may change from time to time. This is true of traditional sectors like engineering as much as IT or fintech, as companies across every industry look for the innovation that will help shape future growth. PINPlease enter your 5 to 45-digits PIN in this field. That hasn’t necessarily relieved the pressure on companies to convince the market of aggressive synergies or payback periods to justify their M&A activity. As bond yields turn negative and investors continue to search for yield, some areas of Europe’s syndicated loans market are booming. 494. A review of the loan market, asset financing and leasing, and M&A for SMEs by Reinhard Haas, Head of DCM Loans, Eoin Moore, Managing Director, Structured Asset Solutions Team and Dr Christoph Thierolf, Head of M&A . • Security of funding – As longer term committed funding, SMEs often view leasing as a more secure source of finance for their investment needs than overdrafts or bank facilities that may have a shorter term. Once a login name has been issued, you can use it to log in or continue logging in with the 10-digit user number (or 8-digit banking ID). In addition to reduced exposure to risks of asset ownership, a range of additional services can be provided as part of a leasing facility. • Be realistic about how long funding is required – As a rule, the longer the tenor, the more demanding the terms of a financing agreement are likely to be. Find out more . Capital can also be released via refinancing vendor finance that companies provide to their customers. This is a financial promotion/marketing communication (together “communication”). This provided the client with a significant liquidity benefit from up-front payment, improved returns on capital and reduced credit exposure to the underlying customer. Now, in a fast-moving digitally-driven environment, the market is comfortable with even young start-ups seeking alliances at an early stage of growth – whether to enable them to buy in innovation, offer new products, or enter new markets. Von Reinhard Haas, Head of DCM Loans, sowie Vincent Lavocat, CFA M&A Vice President at SMBC Nikko Capital Markets Limited London, Greater London, United Kingdom 500+ connections jim marsh. Просмотрите профиль участника Irina Konoplianik в LinkedIn, крупнейшем в мире сообществе специалистов. Lessees can also have an option to upgrade assets. Phil Coates. Eoin Moore, Head of the UK-based Structured Asset Solutions team within the Advisory & Primary Markets division of Commerzbank, said: “Commerzbank has a strong track record in providing innovative financing facilities and tailored solutions to independent leasing companies in the UK. In addition, leasing can be used to finance most assets and has a high degree of flexibility in terms of deal size with possible transaction values as low as €1,000. The M&A lifecycle is also evolving. We will be pleased to help you on the phone. Der Publikumspreis ist mit 5.000 Euro dotiert und wird seit 2015 gestiftet von der Commerzbank . Neither Commerzbank nor any of its respective directors, officers or employees accepts any responsibility or liability whatsoever for any expense, loss or damages arising out of or in any way connected with the use of all or any part of this communication. By accepting this communication, a recipient hereof agrees to be bound by the foregoing limitations. This is particularly relevant for SMEs, who often have limited credit history. Stefan Dreiser. Zoe Vincent. Moreover, they can cover a range of loan assets and deal sizes, from senior to mezzanine debt, revolving credit to securitised loans. View the profiles of professionals named "Eoin Moore" on LinkedIn. Commerzbank Ag, Lending, Structured Commodity Trade Finance London. In recent years, financing conditions for small ticket lessors have improved, which has enabled strong growth in this market. Eoin is a managing director and head of the UK-based Structured Asset Solutions team within the Advisory & Primary Markets division of Commerzbank. View Eoin Moore’s profile on LinkedIn, the world's largest professional community. Leasing is a valuable component of the financing mix for a company of any size. Eine Betrachtung des Kreditnehmermarktes, der Investitions- und Leasingfinanzierung sowie von M&A-Aktivitäten für kleinere und mittlere Unternehmen. This communication may contain short term trading ideas. All material subject to strictly enforced copyright laws. Additional services such as maintenance and insurance can be included covering all of a company’s asset related needs, which can be very attractive for smaller businesses. This can be a quick and efficient way of raising new funds, potentially at lower cost and including the benefits of leasing such as attractive term and repayment profile. You have not yet been activated or have you forgotten your login name/user number or PIN? But unless you believe interest rates are going to be a lot higher in the medium to long term, or you are going to find funding harder in the future for some reason, a shorter tenor will tend to give your company more freedom and be cheaper. But it does mean that SMEs will continue to find plenty of funding options for imaginative, prudent and well-thought out acquisitions. • Private placements – A private placement is an option for transactions in the €25-250 million space, where capital may take for seven years or more to repay. So we don’t envisage any sharp change in pricing, or any decline in investor appetite for opportunities to lend. Below we look at some of the benefits of leasing that are leading to increased use of this funding tool by companies throughout Europe. The information may have been discussed between various Commerzbank personnel and such personnel may have already acted on the basis of this information (including trading for Commerzbank’s own account or communication of the information to other customers of Commerzbank). Italy: You should contact Commerzbank AG, London Branch if you wish to use our services to effect a transaction in any of the financial or other instruments mentioned in this communication. • European debt funds – Debt funds have been introduced as part of the EU’s Capital Markets Union (CMU) project to mobilise greater diversity of funding for European enterprise. The lessor purchases the asset at an agreed value and leases it back to the company, with the lessee potentially having the option to repurchase the asset at a fixed future value. Eoin Moore Director at Dresdner Kleinwort London. RCFs are often used in combination with other types of debt such as private placements, where a company wishes to stagger its debt repayments. The financial benefits of leasing detailed above are particularly attractive for smaller companies. This document has been created and published by the Corporates & Markets division of Commerzbank AG, Frankfurt/Main or the group companies mentioned in the document ("Commerzbank"). Stefan Dreiser ... Eoin Moore. As an example, Commerzbank has recently provided structured financing facilities to a number of independent lessors in the UK, which has enabled these companies to accelerate the expansion of their lease portfolio and provide significant incremental finance to UK SMEs. Smaller unlisted and unrated companies typically look to fund acquisition principally with cash. Brian Cantwell speaks to Eoin Moore, managing director of the structured asset solutions team at Commerzbank, about driving change in the UK SME leasing and lending market Likewise, if you know your company to be a higher risk, the pricing and terms you are offered should reflect that. Counsel for Commerzbank AG Chadbourne & Parke LLP Howard S. Beltzer hbeltzer@chadbourne.com Bank - Credit Facility Citibank Europe pic, UK Branch Loans Agency, Agent Office issuerpfla@citi.com; jillian.hamblin@citi.com; cristina.volc@citi.com Bank - Credit Facility Citibank International Plc Attn. As pension funds and insurers struggle to generate the yield they need from traditional bonds, so debt funds have found a highly interested investor audience. Transfer of asset risk and additional services. Deal size, repayment profile and term can be tailored to the underlying assets acquired and the client’s specific financing requirements. Leasing therefore helps companies outsource their key asset management needs, freeing up time and resources to focus on their core business. The views in this communication may differ from the published views of Commerzbank Corporates & Markets Research Department and the communication has been prepared separately of such department. Private placements with tenors in excess of 10 years will require a financial covenant, but using standard structures such as Germany’s Schuldschein model are available without that feature for better risks, keeping it very straightforward. Alongside a growing pan-European debt funds market, alternative sources of funding are coming directly from institutional investors such as insurers and pension funds. Release of capital tied up in existing assets. Some of the key advantages for SMEs include: • Availability – Underlying asset security means lessors can provide funding to companies when other lenders may not be able to, or provide financing on more attractive terms than other lenders. Please call us on +49 (0) 69 - 13680527 (Mon – Fri 8.00 a.m. – 6.00 p.m. CET) or get in touch with your advisor. Relative to bank loans, there is also a higher degree of flexibility on deal size. The bulk of this activity was at the larger end of the market. Commerzbank partnered with the European Investment Fund on this facility. Maintenance services and asset insurance are frequently included. Maths and business teacher Davitt college Sep 1995 - May 1996 9 months. See the complete profile on LinkedIn and discover Eoin… Complementary funding for asset financing – Eoin Moore, Managing Director, Structured Asset Solutions Team Lease financing, alongside bank lending, has long been a complementary source of funding for SME capital expenditure requirements. Commerzbank Ag, Lending, Structured Commodity Trade Finance London. Eine Betrachtung des Kreditnehmermarktes, der Investitions- und Leasingfinanzierung sowie von M&A-Aktivitäten für kleinere und mittlere Unternehmen. Conversely, some SMEs can find themselves struggling to secure financing because they fail to fit with investors’ or lenders’ expectations. However, it offers particular appeal for smaller companies in need of financing and cashflow flexibility as they seek to expand their businesses. Zoe Vincent Credit Adminstration Officer and Analyst at Union Bank UK plc Southend-on-Sea. Potential counterparties/ distributors should review independently and/or obtain independent professional advice and draw their own conclusions regarding the suitability/appropriateness of any transaction including the economic benefit and risks and the legal, regulatory, credit, tax and accounting aspects in relation to their particular circumstances. Please enter your 8- or 10-digit user number or your 8 - 50 character login name. Join Facebook to connect with Eoin Moore and others you may know. Eoin Moore, Head of the UK-based Structured Asset Solutions team within the Advisory & Primary Markets division of Commerzbank, said: “Commerzbank has a strong track record in providing innovative financing facilities and tailored solutions to independent leasing companies in the UK. Eoin Moore, managing director at Commerzbank. Drawdown and repayment terms can be tailored to match the revenue generation profile of the assets. Eoin Moore Director at Dresdner Kleinwort London. jim marsh Director at Milestones Communications Ltd Hemel Hempstead. SMEs can access leasing via the vendor channel, the branch network of banks and lessors or through a broker. Report this profile Experience ... Eoin Moore. Commerzbank may act as a market maker in the financial instruments or companies discussed herein and may also perform or seek to perform investment banking services for those companies. We know the business models and value-creation chains, the trends and challenges, as well as your sector-specific markets at home and abroad. Eoin Moore Director at Dresdner Kleinwort London. : Mrs. Mariangela Nissidou / Mr. Oliver Schroeder. Richard Young Structured Finance at Commerzbank AG London. ", emphasises Dr Christoph Thierolf, Head of M&A. В профиле участника Irina указано 11 мест работы. Any returns or future expectations referred to are not intended to forecast or predict future events. Funding European SMEs . Eoin has 1 job listed on their profile. Parmiters. But prudent appraisal of the opportunities on offer will remain essential. Commerzbank offers easy access to capital markets for your large scale financing needs, helping you fulfil your short and long-term goals. Eine Betrachtung des Kreditnehmermarktes, der Investitions- und Leasingfinanzierung sowie von M&A-Aktivitäten für kleinere und mittlere Unternehmen. Leasing is not necessarily a substitute for bank lending or the loans market, but a highly flexible complement to it. However, at the smaller end of the SME segment, independent leasing companies also play an important role. This can be a very attractive form of financing as it releases capital, provides the liquidity benefit of upfront payment and can enable customers to manage credit exposure with larger customers. • Seek out funding that’s attractive but also reliable investors – In a buoyant financing environment, borrowers need to be alert to new entrants offering aggressively-priced financing, only to retreat sharply from the market when macro-economic conditions move against them – a trend that has been evident in many European markets during the years following the financial crisis. Commerzbank offers easy access to capital markets for your large scale financing needs, helping you fulfil your short and long-term goals. Bestehende Märkte sind gesättigt, das Wachstum verlangsamt sich, und es wird deutlich, dass weiteres Wachstum nur über weitreichende strategische Entscheidungen generiert werden kann. An increasingly important source of financing for SMEs. • Optimisation of cash flow and working capital – Leasing provides funding for 100% of the acquisition cost of assets. Capital tied up in unencumbered fixed assets can be unlocked via sale and leaseback arrangements. They allow alternative investment funds (AIFs) to originate loans without the need for a banking licence. Stefan Dreiser ... Eoin Moore. For the European SME sector, the interest among investors to finance strategic acquisition is strong and is well supported by initiatives by the EU’s CMU initiative. Below, we assess the prospects for three core forms of SME funding and how each can be employed to achieve the optimal funding mix. However, it plays an even more important role for SMEs. Once you have successfully logged in, you can go to Administration to issue a login name of your choice, amend or delete it, and display your user number. Lease financing of over €100m was provided to the company, with a repayment term of over 15 years satisfying the client’s requirement for long term funding. Stefan Dreiser. Any prices provided herein (other than those that are identified as being historical) are indicative only, and do not represent firm quotes as to either size or price. The permanent wholesale finance facility, tailored to the profile of business that Kennet originates, will enable the company to quickly grow its lease portfolio creating a new independent lessor of scale and providing much needed finance to SMEs in the UK. jim marsh Director at Milestones Communications Ltd Hemel Hempstead. Eoin Moore (AIB) Fernando de la Mora (Alvarez & Marsal) Susanne Wegner (Association of German Public Banks) Margherita Redaelli (Banca Popolare di ... Matthias Behrens (Commerzbank) Koen Holdtgrefe (Deutsche Bank) Meryl Harland (Deutsche Bank) Tobias Volk (Deutsche Bundesbank) Commerzbank and/or its principals or employees may have a long or short position or may transact in financial instrument(s) and/or securities referred to herein or may trade in such financial instruments with other customers on a principal basis. Banks remain the key providers of lease financing to SMEs, either directly or via the vendor channel. The company is free to invest the sale proceeds in its business. Asset Advantage Limited (“Asset Advantage”) has signed a £50m committed financing facility with Commerzbank and EIF to provide asset financing to UK SMEs. Financing is provided for 100% of the acquisition cost of the assets. Eoin Moore Director at Dresdner … Borrowers then repay the financing over the life of the asset, which can be funded by revenues generated by the equipment. More than 70,000 SMEs and large enterprises count on a long-term and trusting cooperation with Commerzbank. Source: Commerzbank AG, November 2016. Following assessment of various alternatives, we concluded that a structured lease facility would best achieve the client’s objectives. Persons into whose possession this document may come are required to inform themselves about, and to observe any such restriction. Asset Advantage Limited (“Asset Advantage”) has signed a £50m committed financing facility with Commerzbank and EIF to provide asset financing to UK SMEs. Zoe Vincent. Sonja Bennefield. Our capital markets experts in Europe, the USA and Asia are dedicated to delivering best-in-class solutions tailored to your funding needs, even within tightest time scales and challenging market conditions. Corporate Financing . Eoin Moore Director at Dresdner … In particular, corporates need to be very mindful that any debt keeps them within the levels of gearing expected for their sector. Similarly, vendor programmes from lessors provide a key source of sales support for many manufacturers. In addition to funding the acquisition of new assets, leasing is also a very effective means of using existing assets to raise capital for deployment in other areas of the business. However, mid-cap and small-cap M&A activity is still in evidence as companies seek to take advantage of cash-rich balances sheets, ultra-low interest rates and access to more sources of funding. Although availability of bank lending has now improved significantly, evidence indicates SMEs increasingly see the value in diversifying their sources of finance. It offers the most flexibility of any funding solution and is attractive for deals where debt can be repaid fairly rapidly. A flexible financing solution for asset investment. View the profiles of people named Eoin Moore. For example: • Revolving credit facilities (RCFs) - Typically provided by an SME’s relationship bank, an RCF is usually offered for a five-year term. If reliable, long-term or recurrent funding is a priority, aim to do business with those banks that have a properly resourced, long-term presence in your market, and a solid track record of supporting smaller enterprises throughout the market cycle. For SMEs seeking competitive funding, that’s good news. Since the global crisis, plenty has been written about banks paring back their lending activities and more stringent capital adequacy rules limiting funding opportunities, particularly for higher-risk borrowers such as smaller companies. A review of the loan market, asset financing and leasing, and M&A for SMEs by Reinhard Haas, Head of DCM Loans, Eoin Moore, Managing Director, Structured Asset Solutions Team and Dr Christoph Thierolf, Head of M&A . Dr Michael Kilka, Head of Advisory, discusses the opportunities and challenges for corporate financing in Europe. See the complete profile on LinkedIn and discover Eoin… It is not intended to be distributed to Retail Clients or potential Retail Clients. Oliver Schroeder Director - Conduit Finance Frankfurt Rhine-Main Metropolitan Area. Commerzbank was recently approached by a global IT services company seeking to monetise certain receivables relating to an IT outsourcing contract with an international customer. The past performance of financial instruments is not indicative of future results. Elizabeth Andrew. But the European Central Bank is unlikely to make any drastic changes to its monetary policy in the short term. You can change your PIN at any time after logging in under the navigation point "Administration & Tools/Change PIN". Leasing therefore provides a cost-effective solution to companies that require the use of an asset for a period shorter than its useful life. A review of the loan market, asset financing and leasing, and M&A for SMEs by Reinhard Haas, Head of DCM Loans, Eoin Moore, Managing Director, Structured Asset Solutions Team and Dr Christoph Thierolf, Head of M&A . Eoin is a managing director and head of the UK-based Structured Asset Solutions team within the Advisory & Primary Markets division of Commerzbank. A study by economists Joseph Noss (BoE) and Priscilla Toffano (IMF) from March 2014* points out empirical evidence which suggests that an increase in capital requirements by one percentage point, forces banks to cut their total lending in the short run by 1.2 - 4.5% or reduce credit growth by 1.2 - 4.6%. Richard Young Structured Finance at Commerzbank AG London. The role of leasing as a highly valued financing tool for SMEs is expected to continue to grow. Find out more . Such services are becoming more important in the context of environmental concerns. Commerzbank Corporates & Markets is the investment banking division of Commerzbank, integrating research, debt, equities, interest rates and foreign exchange. Eoin Moore Director at Dresdner Kleinwort London. Eoin Moore. There are 20+ professionals named "Eoin Moore", who use LinkedIn to exchange information, ideas, and opportunities. Despite the potential volatility in currencies, commodities and capital markets that could ensue, the positive environment for M&A is likely to continue through the second half of 2017 and into 2018 as companies shrug off ongoing economic uncertainty to pursue their strategic goals. Northampton-based Billing Finance has arranged extended lending facilities of £50m and appointed a sales director to lead over its product expansion. Recent research indicates over 40% of European SMEs use leasing, thereby financing a higher proportion of SME investment than any other individual form of bank lending. A review of the loan market, asset financing and leasing, and M&A for SMEs by Reinhard Haas, Head of DCM Loans, Eoin Moore, Managing Director, Structured Asset Solutions Team and Dr Christoph Thierolf, Head of M&A . As such, the strong growth in new leasing volumes in Europe is likely to continue. Being able to provide up-to-date figures and reporting and a clear picture of the company’s strategy and purpose for seeking funding will help an SME access a wider pool of funding opportunities and, potentially, lower the cost of financing. Compared to financing via a traditional loan, leasing is a highly flexible means to fund the acquisition of assets or equipment. The rent payable is also reduced due to the residual value of the asset at maturity. Indeed, lending to European SMEs could be the single-strongest growth area for debt capital markets over the next few years, as international banks seek greater penetration into this still largely untapped market. Lease Europe estimates that new leasing volumes grew 9.5% in 2014, and by a further 9.1% in the first half of 2015. Commerzbank Publikumspreis Die Zuschauer entscheiden per Stimmzettel, welcher der teilnehmenden Filme der Sektion Eurovisuell zum Siegerfilm prämiert werden soll. Likewise, family-owned businesses are often unused to the level of transparency and communication that investors will expect before they invest. 2020 wurde der Preis zum ersten Mal an den besten Film des gesamten Festivals verliehen. Leasing also enables companies to benefit from full economic use of assets without bearing the risk of ownership. Source: Commerzbank AG, November 2016 Funding European SMEs A review of the loan market, asset financing and leasing, and M&A for SMEs by Reinhard Haas, Head of DCM Loans, Eoin Moore, Managing Director, Structured Asset Solutions Team and Dr Christoph Thierolf, Head of M&A Katherine Wall. Any information in this communication is based on data obtained from sources believed by Commerzbank to be reliable, but no representations, guarantees or warranties are made by Commerzbank with regard to the accuracy, completeness or suitability of the data. Author: Eoin Moore, Managing Director, Structured Asset Solutions Team, Commerzbank Corporates & Markets. Colaiste Eoin, Youghal Aug 2002 - Aug 2006 4 years 1 month. For any company involved in asset acquisition, lease financing is a flexible and value-added addition to the financing mix that can provide a much more tailored financing solution than traditional bank loans. FILMFEST HAMBURG is an international film festival, the third-largest of its kind in Germany (after Berlin and Munich).It shows national and international feature and documentary films in eleven sections.
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