Zoe Vincent Credit Adminstration Officer and Analyst at Union Bank UK plc Southend-on-Sea. Join Facebook to connect with Eoin Moore and others you may know. • 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. Lease Europe estimates that new leasing volumes grew 9.5% in 2014, and by a further 9.1% in the first half of 2015. 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. Commerzbank Corporates & Markets examines the benefits of leasing in corporate finance, Author: Eoin Moore, Managing Director, Structured Asset Solutions Team, Commerzbank Corporates & Markets. Richard Young. View Eoin Moore’s profile on LinkedIn, the world's largest professional community. This is certainly true for bilateral lending. In recent years, financing conditions for small ticket lessors have improved, which has enabled strong growth in this market. 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. Easy access to capital markets for your large scale financing needs with advisory, structuring, syndication and execution. Borrowers then repay the financing over the life of the asset, which can be funded by revenues generated by the equipment. See the complete profile on LinkedIn and discover Eoin… • 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. Phil Coates. Conversely, some SMEs can find themselves struggling to secure financing because they fail to fit with investors’ or lenders’ expectations. Eoin Moore Director at Dresdner … 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. For example: • Revolving credit facilities (RCFs) - Typically provided by an SME’s relationship bank, an RCF is usually offered for a five-year term. Smaller unlisted and unrated companies typically look to fund acquisition principally with cash. Operating leases and contract hire provide temporary and flexible use of assets, with risks like asset depreciation or obsolescence borne by the lessor. It is not intended to be distributed to Retail Clients or potential Retail Clients. By accepting this communication, a recipient hereof agrees to be bound by the foregoing limitations. Report this profile Experience ... Eoin Moore. Do you have any questions or need any help? • Optimisation of cash flow and working capital – Leasing provides funding for 100% of the acquisition cost of assets. RCFs are often used in combination with other types of debt such as private placements, where a company wishes to stagger its debt repayments. Similarly, vendor programmes from lessors provide a key source of sales support for many manufacturers. Stefan Dreiser. And, even being lower than the year before, 2016 marked already the second highest year since 2007. Relative to bank loans, there is also a higher degree of flexibility on deal size. 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. View the profiles of people named Eoin Moore. In the years following the financial crisis, these leasing companies experienced a significant contraction in their sources of funding. However, independent leasing companies are playing an increasingly important role in the SME market. ", emphasises Dr Christoph Thierolf, Head of M&A. 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%. Details about the extent of our regulation by the Financial Conduct authority and Prudential Regulatory Authority are available on request. Likewise, if you know your company to be a higher risk, the pricing and terms you are offered should reflect that. Please enter a PIN of at least 5 to maximum 45 letters, numbers or special characters. © 2020 GlobalCapital is part of the Euromoney Institutional Investor PLC group, https://cbcm.commerzbank.com/en/hauptnavigation/home/home.html, ECM Bank of the Year for Capital Raises Related to Covid-19 — HSBC, Best Equity Capital Markets Advisor — Rothschild & Co, Best Bank for Small Cap Equity Capital Markets – Berenberg, ECM Bank of the Year for Green Equity Deals — Societe Generale, Market Participants Expect to See Consumer ABS Defy Pandemic Gloom in 2021, Yield Quest Sparks Drive to Esoteric ABS Assets, Securitization Markets Weigh Up an Extraordinary Year, Modern Slavery Act Transparency Statement. Although availability of bank lending has now improved significantly, evidence indicates SMEs increasingly see the value in diversifying their sources of finance. Elizabeth Andrew. 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. Unit trust dealer ... Commerzbank AG Aug 1997 - Jul 2000 3 years. Leasing therefore provides a cost-effective solution to companies that require the use of an asset for a period shorter than its useful life. 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. 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. Financing is provided for 100% of the acquisition cost of the assets. Leasing is a valuable component of the financing mix for a company of any size. Asset Advantage Limited (“Asset Advantage”) has signed a £50m committed financing facility with Commerzbank and EIF to provide asset financing to UK SMEs. 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. M&A Strategy 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. Oliver Schroeder Director - Conduit Finance Frankfurt Rhine-Main Metropolitan Area. Leasing also enables companies to benefit from full economic use of assets without bearing the risk of ownership. However, in recent years, leasing appears to be becoming an increasingly important financing source. The range of funding opportunities on the syndicated loans market for SMEs is increasingly diverse. Leasing therefore helps companies outsource their key asset management needs, freeing up time and resources to focus on their core business. Von Reinhard Haas, Head of DCM Loans, sowie Eoin Moore, Managing Director, Structured Asset Solutions und Dr. Christoph Thierolf, Head of M&A. 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. 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 . jim marsh Director at Milestones Communications Ltd Hemel Hempstead. Commerzbank offers easy access to capital markets for your large scale financing needs, helping you fulfil your short and long-term goals. Capital can also be released via refinancing vendor finance that companies provide to their customers. 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. A key factor in the increased use of leasing is that it remained a reliable source of financing in the years following the financial crisis. 2020 wurde der Preis zum ersten Mal an den besten Film des gesamten Festivals verliehen. 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. 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. Commerzbank Corporates & Markets is the investment banking division of Commerzbank, integrating research, debt, equities, interest rates and foreign exchange. It can be reassuring to lock down funding for 10 years or more. At the end of the lease term, various options may be offered regarding disposal of the asset. Eoin Moore. 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. Unlike bank loans, leases may not have covenants on the company given the security of the underlying asset. But this comes with its own risks as new entrants look to capture market share. 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). 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. View Eoin Moore’s profile on LinkedIn, the world's largest professional community. Stefan Dreiser. The information contained herein does not constitute the provision of investment advice. 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. Commerzbank offers easy access to capital markets for your large scale financing needs, helping you fulfil your short and long-term goals. jim marsh. Maths and business teacher Davitt college Sep 1995 - May 1996 9 months. 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. PINPlease enter your 5 to 45-digits PIN in this field. 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. The financial benefits of leasing detailed above are particularly attractive for 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. Oliver Schroeder. So we don’t envisage any sharp change in pricing, or any decline in investor appetite for opportunities to lend. See the complete profile on LinkedIn and discover Eoin… Alongside a growing pan-European debt funds market, alternative sources of funding are coming directly from institutional investors such as insurers and pension funds. 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. Head of ABCP Conduit Finance at Commerzbank London. If they don’t, you should think carefully about it. Stefan Dreiser ... Eoin Moore. Financing conditions for these independent lessors have improved in recent years, which is enabling strong growth in this market and increasing the availability of leasing options to smaller businesses. Von Reinhard Haas, Head of DCM Loans, sowie Commerzbank partnered with the European Investment Fund on this facility. *Source: Estimating the Impact of Changes in Aggregate Bank Capital Requirements During an Upswing, Bank of England Working Paper No. Katherine Wall Senior Lawyer at Commerzbank AG London. This can apply to many assets, and Commerzbank has provided operating leases of varying sizes to clients in a broad range of industries. Bestehende Märkte sind gesättigt, das Wachstum verlangsamt sich, und es wird deutlich, dass weiteres Wachstum nur über weitreichende strategische Entscheidungen generiert werden kann. 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. Zoe Vincent. 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. This communication or the manner of its distribution may be restricted by law or regulation in certain countries. In addition to reduced exposure to risks of asset ownership, a range of additional services can be provided as part of a leasing facility. This communication is intended solely for distribution to Professional Clients and/or Eligible Counterparties of Commerzbank. Asset Advantage Limited (“Asset Advantage”) has signed a £50m committed financing facility with Commerzbank and EIF to provide asset financing to UK SMEs. Levels, bases and relief from taxation may change from time to time. 494. Oliver Schroeder. • 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. Eoin has 1 job listed on their profile. But prudent appraisal of the opportunities on offer will remain essential. Joseph Potter. Eoin Moore Director at Dresdner Kleinwort London. Leasing is estimated to have financed 23.5% of total new investment in equipment and vehicles in Europe in 2014, up from 22.1% in 2013. Following assessment of various alternatives, we concluded that a structured lease facility would best achieve the client’s objectives. Head of ABCP Conduit Finance at Commerzbank London. 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 Eine Betrachtung des Kreditnehmermarktes, der Investitions- und Leasingfinanzierung sowie von M&A-Aktivitäten für kleinere und mittlere Unternehmen.