Building a Private Placements market in the UK (Bonds Series 1)

  • May 21, 2014 · 12:00 PM
  • This location is shown only to members

Please confirm your RSVPs by sending us your name, job position and company name for confirmation.

Why Go To The USA Or Germany For Money? Why Can’t We Have Private Placements In The UK?

In 2012, UK companies raised over $8bn in the US private placement market because there was no clearly defined alternative in the UK. In 2013, UK companies raised a further $4.5bn even though they often do not require USD funds.

The US PP market raises $50bn annually and the German Schuldschein market raises €8bn, and yet there is no UK equivalent. The Breedon Report (2012) identified the opportunity for a £15bn UK private placement market and a follow up Association of Corporate Treasurer’s report concluded there was no single issue preventing the creation of a market. 

And yet, this is a debate that has been going on for many years as to why London, as a leading capital market, has not evolved an institutional lending process outside of the banks and the public markets. Why is it, that UK companies still go abroad to access private capital, which importantly was one of the few funding channels to remain open during the 2008 financial crisis?

BFP London are proud to be co-hosting this seminar and would like to invite our distinguished members to discuss what is required for the UK to build a new private capital market.

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Programme

1200 to 1230 Registration and Refreshments

1230 to 1400 Seminar

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Speakers

Dominic Jaques, Founder and Managing Director, Tresauris, 
Calum Macphail, Head of Private Placements, M&G Investments
Philip Smith, Partner, Allen & Overy LLP
Martin O'Donovan, Assistant Director, Policy & Technical, ACT

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How do I RSVP?

As a Thank You for your continuous support, this event is FREE.

Please indicate your interest via the RSVP on Meetup and members will be selected based on their active participation in future and past events.

We have only 20 places and priority will be given to members who have been actively supporting our events as a thank you from our team.

Successful candidates will be notified before the event.

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Why should I come?

Learning Objectives

✓ To familiarise oneself with the large private placement markets in Germany and the USA, their successes and advantages/disadvantages to British companies.

✓ To understand the debate around whether to build a private placements market in the UK and how this might be achieved.

✓ To network with industry leaders and like-minded individuals

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About our speakers

Dominic Jaques, Founder and Managing Director, Tresauris

An independent treasury and corporate finance adviser to mid-cap companies. He is a Fellow of the Association of Corporate Treasurers (FCT) and a Chartered Management Accountant (FCMA) with over 20 years experience ranging from large mutli-nationals to privately backed start-ups. Prior to Tresauris, he was the Finance Director of a number of growing mid-size businesses. Earlier in his career, he held roles at Procter & Gamble and a commission in the Royal Navy.

Calum Macphail, Head of Private Placements, M&G Investments

Calum joined M&G Investments in 2000, and is Head of Private Placements. Prior to joining M&G, Calum worked in the credit department of Dresdner Kleinwort Benson. Previously he worked as a supervisory analyst at the Bank of England within the UK Banks Division. Calum started his career on a graduate-training programme at the Bank of Scotland. Calum holds an MA in Economics and Economic History from the University of Edinburgh. He is also a Member of the Chartered Institute of Bankers in Scotland.

Philip Smith, Partner, Allen & Overy LLP

Philip has been a partner in Allen & Overy LLP’s capital markets practice since 2002. He advises both lead managers and issuers on international debt capital markets transactions across a range of issuer types (bank, corporate, sovereign), regions and industry sectors. His practice covers straight debt (Regulation S and Rule 144A standalone issues, LPNs, MTN programmes, CP, CDs), covered bonds and private placements in both Europe and the U.S.

Philip is ranked as a notable practitioner in the Chambers UK legal directory and as a foreign expert in the Chambers global legal directory.

Philip is also a regular speaker at the Euromoney Summer and Winter Schools of International Financial Law held at Oxford and Cambridge Universities.

Martin O’Donovan,Assistant Director, Policy & Technical, ACT

Martin joined the ACT team in November 2003 where his responsibilities include provision of technical guidance and regular updates to members, as well as representing the views of treasurers to government, regulators and standard setters. He is a Fellow of the ACT and has been a member since 1984. Prior to joining the ACT staff he was Group Treasurer of National Grid Group plc. After a degree in Physics from Oxford, his career started by qualifying as a Chartered Accountant with Coopers & Lybrand. He then moved on to gain treasury experience at Redland, Hertz, and BTR. Martin is a non-executive director of Soho Housing.

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We look forward to seeing you! 

Team BFP London

 

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  • Amos

    Glad you found it educational and learnt something new! We look forward to seeing you during our next bond interest series!

    May 22

  • Fazlinda

    Very educational. Thanks for the opportunity to attend.

    May 21

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