Finance that keeps the world moving

Transcription

1 Shipping aviation land transport cleantech commercial

2 about us Think shipping or aviation, land transport or new clean technologies, and MDT will have played a part in raising innovative finance for many of the companies and organisations involved around the world. Established in 1986, MDT is an independent financial services and investment firm specialising in arranging equity, debt, lease and structured finance for capital-intensive projects and industries. With offices in the UK and North America, we have built an enviable reputation for structuring tailor-made financial solutions for clients across the globe. This is supported by a team drawn from banking, asset finance, legal, accounting, analytical and other specialist backgrounds, enabling us to offer a fully integrated service in both the commercial and financial arenas, covering: Financial product development Financial design, tax and accounting analysis and economic evaluation Equity, debt and lease fund raising Ongoing transaction and asset management Remarketing services We have already raised over US$30 billion of innovative finance for a wide range of organisations. We are independent and enjoy worldwide contacts with financiers, investors, manufacturers and other risk participants, so MDT is the ideal partner to help you to successfully resolve your asset or project financing challenges. MDT s unique advantages come from our key qualities: Specialist MDT is a specialist financial services and investment firm Focused Specialist dedicated groups operating in the shipping, aviation, land transport, cleantech and commercial sectors Expert Strong reputation for structuring and arranging expert financial solutions for clients worldwide Highly-regarded Well known and respected in arranging equity, debt, lease and structured finance Experienced Established in 1986 Successful MDT has arranged or advised on in excess of US$30 billion of successful financing and projects for clients Knowledgeable Executives drawn from banking, asset finance, leasing, legal, accounting, analytical and other specialist backgrounds Shipping aviation land transport cleantech commercial

3 shipping Shipping finance MDT offers financial arranging and advisory services to the international shipping markets. We cover a variety of shipping assets and a range of market segments through proprietary and cutting edge services, tailor-made to meet the needs of clients. Tax-based leasing The benefits of UK tax-based leases are now available to shipping companies worldwide and MDT can help you take advantage of them. We have arranged over US$750 million in leasing transactions for shipping companies in the last couple of years. Operating leasing Suitable for charterers in any jurisdiction, UK tax-based operating leasing includes: Attractive charterhire rates No restrictions on the jurisdiction of the charterer Off-balance sheet financing for charterers Can be applied to new and existing tonnage Pre-delivery finance Participation in residual value upside sharing MDT has also developed structured approaches to allow UK tax lease transactions to be syndicated to a range of risk participants. Finance leasing Suitable for charterers in the UK tonnage tax regime, UK tax-based finance leasing includes: Attractive charterhire rates Pre-delivery finance Economic ownership of vessels reverting to the shipping company at the end of the lease Flexibility through the ability to substitute vessels Long term financing Short term (5 to 7 year) finance leases are also available for charterers in any jurisdiction. Sale and charterbacks We can arrange and implement sale and charterback arrangements with financial institutions and/or shipowners that cover: 100% financing 5 year minimum term Suitability for both new and existing vessels The release of equity from existing fleet to invest in new tonnage Flexibility in fleet planning Off-balance sheet financing for charterers Fixed price purchase options during the lease term and at lease expiry Shipping FundS MDT is establishing a shipping fund to offer long term bareboat charters to shipping companies, and offering a well diversified portfolio. To be established and managed by experienced and independent shipping professionals, the fund presents an exciting opportunity to participate in ship leases. Backed by a combined management experience of financing and operating over 100 vessels, it offers the opportunity for equity and debt providers to be engaged in new/modern ships on long-term bareboat charters with first class operators. MDT has arranged over US$750 million in leasing transactions for international shipping companies over the last couple of years.

4 aviation Aviation finance From B747s to water-bombers, and from air-ambulances and corporate jets to aircraft production lines, MDT s expertise in financing covers all aspects of the aviation market. We have particular in-depth experience in the regional aviation market and have arranged and/or invested in the finance of more than 300 regional aircraft. We have sourced over US$6 billion in finance for aviation clients, often using innovative and/or proprietary financing techniques. Leasing and financing We offer three main leasing and financing solutions, depending on the requirements of clients. Debt finance and finance leasing Drawing on our strong relationships with major banks and other financial institutions in the aviation finance sector, we can arrange debt funding for aircraft and help resolve the tax, regulatory and accounting issues often faced by airlines. Operating leasing We have arranged operating leases for mainline and regional jets, and turboprop and specialist aircraft, and have established a pool of investors who are flexible in their approach and are able to tailor transactions to the particular needs of airlines. Sale and leaseback The fleet requirements of airlines are rarely static, thanks to ever changing market factors and route developments. A sale and leaseback agreement can be a useful tool to unlock capital. Equity provision In addition to advisory assignments, MDT itself has acquired a number of regional aircraft for trading and/or leasing. Our recent acquisitions include eighteen regional jets and turboprop aircraft, on lease to various regional airlines. Asset management In addition to sourcing finance, MDT provides a range of aircraft asset management services including running procurement bids, aircraft remarketing and lease management. Procurement Our extensive aviation industry experience and in-house expertise drawn from both aircraft manufacturers and financial institutions make MDT ideal to run your aircraft procurement bids. Remarketing Aircraft condition, history, records and specification play key roles in determining the remarketability of an aircraft. Our remarketing services are particularly relevant to owners of regional aircraft that do not have the time or resources to maximise returns from the remarketing of second-hand aircraft. Lease management MDT offers a competitively priced and comprehensive lease management service covering rental collection, insurance, covenant monitoring and the arrangement of regular aircraft inspections. We have developed our own web based lease management software, enabling clients to keep up to date with the status of their investment. Currently, we manage aircraft on behalf of several financial institutions, including commercial banks, investment banks and hedge funds. Environmental consultancy Increasingly, environmental issues are becoming more important in the aviation sector. This will only increase as airlines prepare to enter the European Emissions Trading Scheme (ETS) and regulators focus greater attention on the environmental impacts of aviation growth. In co-operation with our colleagues at our Cleantech investment arm (Verdetech Investments) we are able to assist interested parties in all aspects of assessing the impact of aviation expansion on the environment, whether it is airports needing a solution to measure emissions on a real time basis or investors wishing to assess the impact on their assets of changes in the price of carbon credits. MDT has leased, financed or traded more than 300 regional aircraft.

5 land transport Land transport finance MDT s land transport team provides expert services in all aspects of finance for land transportation assets and associated infrastructure, in the UK and internationally. From project inception through to procurement and financing, we can advise on a range of projects. Rail With expertise in funding all kinds of infrastructure and rolling stock projects in the UK and internationally, we offer expert services to rail clients in all market areas. We cover leasing, debt and equity raising, as well as structuring cross-border financing and tax leases, and our clients include: Passenger train operating companies Freight train operating companies Transportation groups Leasing companies (ROSCOs) Financial institutions Rail manufacturers (combined sale and finance projects) Government agencies and regulators We have extensive experience in the procurement and financing of new and existing rolling stock and have acted as financial adviser or arranger on more than US$10 billion of rolling stock transactions in recent years. Transactions have been concluded on an operating lease, finance lease, debt or sales-aid financing basis in the UK and Europe, in both the passenger and freight sectors. We also specialise in providing corporate advisory services to transportation groups bidding for train operating franchises. This includes managing the financial aspects of the procurement process, including financing, ITT production, and assessment of responses and documentation of financial terms; negotiating lease terms with ROSCOs and other financiers; and offering innovative ideas on rolling stock financing to reduce the cost for the TOC. Bus, tram and light rail MDT advises clients on bus, tram and light rail projects around the world. We have taken our expertise in rail finance and successfully applied our proven techniques across this sector, covering leasing (including tax leasing), debt and equity financing, as well as project finance and PFI/PPP schemes. We advise clients including: Bus operating companies Light rail undertaking Transportation groups (both private and publicly owned) Leasing companies Financial institutions Manufacturers Transport authorities and regulators Infrastructure With high-level contacts and positive working relationships with the regulatory authorities in the UK, we are able to offer advice and expertise in major land transport infrastructure financing projects, including large depot infrastructure deals. We also have considerable experience in international land transport infrastructure financing and this, together with our banking relationships, can be invaluable in infrastructure projects. We have acted as financial adviser or arranger on more than USS10 billion of rolling stock transactions in recent years.

6 Cleantech SPECIALIST FINANCE AND INVESTMENT FOR GREEN TECHNOLOGY PROJECTS MDT offers financing solutions on a project or asset finance basis covering renewable energy and cleantech projects. ADVISORY WORK The success of many cleantech projects rests on the financing arrangements that can be obtained from the market. Often these transactions combine elements of both project and asset finance so it s natural that MDT has developed in-depth market knowledge in this sector. This enables us to arrange the overall financing of a project (e.g. for a windfarm) or arrange the most suitable form of asset financing (e.g. for a waste-to-energy project). By putting our collective expertise, contacts and resources at your service, we are able to assist you with sourcing and structuring the necessary finance, as well as dealing with tax and accounting issues. VERDETECH INVESTMENTS Our subsidiary Verdetech Investments was established in 2008 to capitalise on new ideas generated in the cleantech sector. As well as MDT s own personnel, Verdetech retains directors and consultants from one of the world s leading universities for science and technology, Imperial College London. Our intellectual property experts and cleantech specialists enable us to assess all aspects of commercialising research ideas or launching start-up companies. As well as advisory work, Verdetech undertakes its own carefully selected investments as an equity provider. We look for companies with strongly developed technology and a clear route to market, seeking to raise Stage 1 or 2 equity investment capital. Verdetech looks to take an active role in such companies, providing the expertise to give comfort to other more passive co-investors. One such investment made by Verdetech is in Duvas Technologies ( a startup company producing innovative real-time air pollution monitors. For more information about Verdetech Investments visit: MDT s cleantech business provides advice, finance and investment for projects in areas such as renewable energy and pollution mitigation

7 Commercial Commercial finance From satellites to manufacturing production lines, North Sea oil platforms to Antarctic research vessels, industrial buildings to urban regeneration projects, MDT s wide-ranging finance solutions for the commercial sector cover a world of possiblities. Commercial sector solutions We can help you at every step of the commercial finance process with: Product creation and development Financial design, analysis and evaluation Negotiation of commercial terms and co-ordination of external legal and accounting expertise Equity, debt and lease fundraising Co-ordination of documentation Ongoing transaction management Portfolio acquisitions and disposals Each assignment is assessed on its merits, taking into consideration the needs of the client and the tax, accounting and legal issues in the relevant jurisdictions. We act as the arranger of transactions for corporations and manufacturers, financial institutions and investment groups, leasing companies and publicly owned entities. Leasing We are active in arranging finance and operating lease transactions for all categories of fixed and moveable assets. Regarded as one of the leading firms to approach when seeking financial solutions on complicated asset based projects, we have developed proprietary lease finance solutions, which have been used by clients to reduce the cost of medium and long term capital. Debt Conventional bank debt markets often provide the most suitable form of financing for large value projects and assets. Competitive rates and loan-to-value ratios can often be combined with structural flexibility. We have built a strong relationship with many banking institutions in Europe, Asia Pacific and North America, and have completed transactions involving over 50 major commercial banks, as well as a number of export credit and other governmental lending projects in all sectors. For certain projects and assets, we are also able to arrange top-up mezzanine and/or junior facilities from specialist lending institutions. Structured finance Structured finance requires a detailed understanding of the complex tax and accounting issues associated with various forms of financing. By implementing innovative structured financing solutions developed by the MDT team, we have raised several billion dollars through private debt issues. Our expertise is often called on when acquiring or selling leasing companies and leasing portfolios, enabling financial institutions to release value from their existing books. We are also active in a number of developing areas, including the financing of renewable energy projects and investing in innovative technology companies operating in the clean technology arena. We are regarded as one of the leading firms to approach when seeking financial solutions for complicated asset based projects.

8 TEAM THE TEAM The MDT team brings together leading financing experts in a range of specialist sectors. Our senior consultants include: LONDON Paul Clark Principal Paul joined MDT in 1990, and is currently responsible for MDT s clean technology business and for MDT s aviation activities, concentrating particularly on the regional aircraft market. He was previously a director of Security Pacific Eurofinance (now part of Bank of America Group) and prior to this he was responsible for big-ticket leasing transactions at Royal Bank Leasing. Darren Hawkins Principal Darren joined MDT in 1994, and is currently responsible for MDT s shipping and satellite activities. He is a chartered accountant and was previously a member of Inmarsat s corporate finance team, with responsibility for the financing of its satellites. Prior to that he worked for what is now PriceWaterhouseCoopers in London and Australia. Jacqui Nelson Principal Jacqui joined MDT in 1991, and is currently responsible for MDT s land transport activities. She is a qualified solicitor and was previously a member of the finance group at Freshfields in London, specialising in banking, capital markets and tax-based financing transactions. Prior to this she worked in the corporate and banking departments of Mallesons in Sydney. Stephen Layburn Principal Stephen joined MDT in 1999, and is responsible for MDT s land transportation business. He joined MDT from the lease advisory team at Credit Suisse First Boston where he focused on cross-border tax leases for rail and power generation assets in Europe and the US. Before that, Stephen was at NatWest for seven years, working on big-ticket leasing for aviation, shipping and the commercial sector, and also on EETC-style securitisations for European airlines. Chris Spencer Chris joined MDT in April 2010 and works across all areas of MDT s business. He has over 20 years leasing and asset finance experience which spans a range of transportation and other assets, structures and jurisdictions. Prior to joining MDT Chris worked for the NatWest Group for 12 years, ABN AMRO for 7 years and more recently Bank of Scotland Corporate in each case working on high value structured asset financings both domestic and cross border. Rob King Rob joined MDT in He is involved primarily in shipping transactions and is a member of MDT s analytical team. He has a PhD from the University of York, where he worked as a research fellow prior to joining MDT. Ed Spracklen Ed joined MDT in 2007, and is a member of MDT s analytical team. He has a PhD from the University of York. Selim Cherif Selim joined MDT in 2008 as a member of MDT s analytical team. Before joining MDT he worked as an aircraft analyst at Calyon and at PK Airfinance. He is a graduate of the Reims Management School. NORTH AMERICA Rejean Bourque Rejean is a consultant to MDT and is based in Montreal where he also has a leading role in risk management and financing solutions for Marsh, the world s largest insurance broker. Prior to joining Marsh in 2006 he was with Bombardier for 18 years holding investor relations and financing responsibilities. FRANCE Francois Gerard Francois joined MDT in 2001, and is a member of MDT s aircraft remarketing team. After a 20 year career in the French Navy as a pilot, he joined Brit Air, a French regional airline where he held several key positions in maintenance, network and operations. Prior to joining MDT he was managing director of Air Calypso, a small regional airline in the French Antilles.