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NicerWork

London City

SECRETS FROM THE SYNDICATE DESK

A 1-day Masterclass on how to get the most out of your bond issuance partner.

23rd January 2025 - London

Specer maclean.
stuart m
hugh carter

Spencer Maclean

Stuart Montgomerie

Hugh 
Carter

Register interest for Jan event now

EARLY BIRD 
STANDARD
LAST CALL

£2995
£3495
£3995

Before Dec 31st

Jan 1st - Jan 13th

Jan 14th - Jan 22nd

What's included?

  1. One-day private audience with Syndicate Leaders - Limited to 25 tickets
     

  2. Comprehensive course materials available on-line
     

  3. One-year membership to the Nicer Leadership Network (worth £999)
     

  4. Cohort membership to an interactive on-line group
     

  5. Chat with Course Leaders to support your Bond Issue

Who is this 1-day course designed for? 

Why should I attend?

  • Heads of Treasury, Snr Treasurers

  • CFO’s

  • Advisors

  • Buyside participants

  • Learn from leading investment bankers how the process of bond issuance actually works.

  • Discover the best ways of maximising the success of a Bond Issue for your company or your client

  • A rare opportunity learn the inside secrets from world class Syndicate leaders

Listen, learn and talk with leaders in the Bond Market

Specer maclean.jpg

Spencer Maclean

Ex Head of SCB Bond Syndicate Desk

Spencer has more than 25 years of experience in the Primary Debt Capital Markets place. He started as a Bond Trader on the new issue desk at Credit Suisse before managing EM new issuance at Credit Suisse and Deutsche Bank. During his 13 years at Standard Chartered Bank, he led the DCM teams for Europe and Americas and was Global Head for Bond Syndicate. Spencer is Co-Founder of BondAuction Ltd.

stuart m.jpg

Stuart Montgomerie

Former Global Head of Bond Syndicate - GSIB

Stuart qualified as a charted accountant with KPMG before joining spending 30 years in the Bond Syndicate world. Firstly with Lehmans as a New Issues Trader, then he moved to Commerz and Dresdner as a Syndicate Manager before joining RBS for 9 years. His last role was as Global Head of Bond Syndicate at a Global Systemically Important Bank.

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Hugh Carter

Ex Head of Global Syndicate - Commerzbank

Hugh has been involved in Investment Banking for over 38 years encompassing senior positions in Syndicate & Sales / Relationship Management. Starting in Fixed income sales at Merrill Lynch and then ultimately senior sales management and Syndicate at Deutsche Bank and Dresdner Kleinwort. Latterly, Hugh was Head of Credit Syndicate and Deputy Head of Global Syndicate at Commerzbank.

Session 1: Pre-Trade
  • What are the Bond Markets, why raise a Bond vs other forms of capital

  • What is the timeline for a bond issuance

  • How many people are you going to require from Issuer side

  • Who are the players in the bond market

  • What is the Pitching process and what are processes involved

  • What makes a good market update

  • Fair Value and the New Issue Premium, what is a Greenium

  • What happens if not fully Allocable

  • Beauty Parades

  • What is underwriting, impact on fees, service

  • Building syndicate group

  • Breaking down responsibilities

  • Marketing the deal pre-announcement

Session 2: Time to Execute
  • Why these data points matter

  • Question to ask all banks – do they have other trades on that day / week

  • Do you fix your roof while the sun is shining

  • Screen messages will develop over time

Session 3: Book Building and Pricing
  • Investor first steps

  • Build Momentum

  • Means of order submission

  • Oversubscription

  • Adverse news

  • Price sensitivity from Investors

  • Allocation Process

  • Over Allocation

  • What happens if not fully Allocable

  • Final Terms are agreed and announced to market

  • Hedging Process

  • Pricing Call

Session 4 – Post Trade
  • Stabilisation agent and process

  • Deal Statistics

  • Managing secondary

  • Tap of an issuance

  • Receipt of proceeds

  • Paying counterparts – legal, listing, lawyers

  • Managing investors going forward

Session 5 – Dinner
  • Spend the evening with the presenters getting to hear more examples of the hurdles faced during their years in the market. They will be joined by a lawyer from a major firm who can also share their experience

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