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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
Spencer Maclean
Stuart Montgomerie
Hugh
Carter
EARLY BIRD
STANDARD
LAST CALL
£2995
£3495
£3995
Before Dec 31st
Jan 1st - Jan 13th
Jan 14th - Jan 22nd
What's included?
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One-day private audience with Syndicate Leaders - Limited to 25 tickets
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Comprehensive course materials available on-line
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One-year membership to the Nicer Leadership Network (worth £999)
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Cohort membership to an interactive on-line group
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Chat with Course Leaders to support your Bond Issue
Who is this 1-day course designed for?
Why should I attend?
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Heads of Treasury, Snr Treasurers
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CFO’s
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Advisors
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Buyside participants
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Learn from leading investment bankers how the process of bond issuance actually works.
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Discover the best ways of maximising the success of a Bond Issue for your company or your client
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A rare opportunity learn the inside secrets from world class Syndicate leaders
Listen, learn and talk with leaders in the Bond Market
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 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.
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
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What are the Bond Markets, why raise a Bond vs other forms of capital
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What is the timeline for a bond issuance
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How many people are you going to require from Issuer side
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Who are the players in the bond market
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What is the Pitching process and what are processes involved
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What makes a good market update
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Fair Value and the New Issue Premium, what is a Greenium
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What happens if not fully Allocable
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Beauty Parades
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What is underwriting, impact on fees, service
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Building syndicate group
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Breaking down responsibilities
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Marketing the deal pre-announcement
Session 2: Time to Execute
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Why these data points matter
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Question to ask all banks – do they have other trades on that day / week
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Do you fix your roof while the sun is shining
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Screen messages will develop over time
Session 3: Book Building and Pricing
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Investor first steps
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Build Momentum
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Means of order submission
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Oversubscription
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Adverse news
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Price sensitivity from Investors
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Allocation Process
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Over Allocation
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What happens if not fully Allocable
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Final Terms are agreed and announced to market
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Hedging Process
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Pricing Call
Session 4 – Post Trade
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Stabilisation agent and process
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Deal Statistics
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Managing secondary
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Tap of an issuance
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Receipt of proceeds
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Paying counterparts – legal, listing, lawyers
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Managing investors going forward
Session 5 – Dinner
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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