PRODUCTS:
» Debt capital markets (DCM)
Rand Merchant Bank (RMB) is active in the following debt markets:
| Government and Quasi government | — SA and Namibia sovereigns and state-owned enterprises in southern Africa and municipalities in South Africa |
| Corporate South Africa | — Investment and Sub Investment Grade |
| South African Banks | — Senior unsecured – in ZAR/EUR/USD |
| — Tier 2 – in ZAR/EUR (also NAD) | |
| — Hybrid Tier 1 in EUR/USD/ZAR | |
| High Yield Bonds | — EUR/USD and ZAR, Mezz and Senior Secured |
| Securitisation | — Autoloans, RMBS, CMBS, credit cards, etc. |
| Opportunities in Africa | — Long-dated funding for utilities in USD, ZAR, BWP (Botswanan Pula) and NAD (Namibian Dollar) |
South African securitisations
RMB has been involved in the South African securitisation market since it began in early 2000 and is now recognised as one of the leading players in this field. The DCM securitisation team is very experienced and has been developing investor appetite both locally and internationally for securitisation paper.
The DCM division has ties with international investment bank Morgan Stanley, which has assisted the South African team to distribute its issues into the foreign Euro-denominated markets.
RMB has been a pioneer in the South African asset-backed commercial paper market. RMB currently manages two ABCP conduits, one secured debenture programme and the first ever overnight call bond fund. The overnight call bond fund lends to highly-rated corporates on an overnight basis and, in return, funds itself in the call market.
The DCM team has arranged and structured funding solutions for some of South Africa’s leading financial institutions. Corporate debt solutions include rating advisory work, bank syndicated loan structuring as well as listed bond issues.
There are 40 professionals in this division. Below are some of the transactions in which the DCM and Structuring teams have recently been involved.
South African derivative structuring — corporates
This team assists corporates in managing financial risks in their businesses. The risks we focus on are largely long-dated (longer than one year), foreign currency and interest rate related. These risks typically arise on a company’s financing activities as a result of corporate finance action, fixed capital or working capital expansion.South African derivative structuring — institutions
The Institutional Sales and Structuring Team focuses on providing investors with a comprehensive suite of fixed income and hybrid investment solutions, tailored to meet the individual needs of each client and portfolio. The business was started in 2000 to meet the growing need of sophisticated institutional clients for non-generic, structured investment and trade ideas across asset classes intended to enhance yield, preserve capital, provide diversification or reduce volatility. Our team has a wealth of structuring and distribution experience in a variety of areas and products.For more information, please contact us