______________________________________
______________________________________
______________________________________
BRITISH FOUNDER , MR CLEMENT AGHAYERE
BRITISH BANKER,FORMER BARCLAYS BANK PLC , CITY OF LONDON
FINANCIAL DERIVATIVES AS AN I.B | EX - CREDIT SUISSE AND MITSUI BUSSAN CITY OF LONDON
MR CLEMENT AGHAYERE , GLOBAL CHAIRMAN INVESTMENT BANKING EUROPE AND AFRICA
SENIOR DEBT PRODUCT SPECIALIST [ DEBT CAPITAL MARKETS CHINA AND ASIA PACIFIC REGION ]
- The UK ,most accomplished emerging markets , Africa - Focused senior investment banker | London - based IB senior executive is exclusively mandated since Oct 2015 to 2023 , as the preferred corporate origination partner Africa by The third largest bank in the world | oldest Bank in The Peoples Republic of China THE BANK OF CHINA LIMITED | 中国银行股份有限公司
one of the most respected Banks in the World
MARKET CAP $1.41 TRILLION
BRITISH BANKER,FORMER BARCLAYS BANK PLC , CITY OF LONDON
FINANCIAL DERIVATIVES AS AN I.B | EX - CREDIT SUISSE AND MITSUI BUSSAN CITY OF LONDON
MR CLEMENT AGHAYERE , GLOBAL CHAIRMAN INVESTMENT BANKING EUROPE AND AFRICA
SENIOR DEBT PRODUCT SPECIALIST [ DEBT CAPITAL MARKETS CHINA AND ASIA PACIFIC REGION ]
- The UK ,most accomplished emerging markets , Africa - Focused senior investment banker | London - based IB senior executive is exclusively mandated since Oct 2015 to 2023 , as the preferred corporate origination partner Africa by The third largest bank in the world | oldest Bank in The Peoples Republic of China THE BANK OF CHINA LIMITED | 中国银行股份有限公司
one of the most respected Banks in the World
MARKET CAP $1.41 TRILLION
______________________________________
______________________________________
Asia Capital Markets London .
______________________________________
______________________________________
FOUNDER, MR CLEMENTAGHAYERE
GLOBAL CHAIRMAN
INVESTMENT BANKING LONDON
PORTFOLIO AFRICA REGION : $30BN
- British Banker Clement Aghayere, Chairman and CEO [ Emerging Markets, Africa ] city of London investment banking senior executive EMEA, Leveraged finance Head is responsible for the Largest capital raise in the history of the African continent a USD 7 bn credit facility [ a commitment in principle ] for the No1 corporate in Africa across the continent Africa | Global , No1
______________________________________
CLEMENTAGHAYERE
______________________________________
BRITISH FOUNDER , MR CLEMENT AGHAYERE
BRITISH BANKER,FORMER BARCLAYS BANK PLC , CITY OF LONDON
FINANCIAL DERIVATIVES AS AN I.B | EX - CREDIT SUISSE AND MITSUI BUSSAN CITY OF LONDON
MR CLEMENT AGHAYERE , GLOBAL CHAIRMAN INVESTMENT BANKING EUROPE AND AFRICA
SENIOR DEBT PRODUCT SPECIALIST [ DEBT CAPITAL MARKETS CHINA AND ASIA PACIFIC REGION ]
- The UK ,most accomplished emerging markets , Africa - Focused senior investment banker | London - based IB senior executive is exclusively mandated since Oct 2015 , as the preferred corporate origination partner Africa by The third largest bank in the world | oldest Bank in The Peoples Republic of China THE BANK OF CHINA LIMITED | 中国银行股份有限公司
one of the most respected Banks in the World
MARKET CAP $1.41 TRILLION
BRITISH BANKER,FORMER BARCLAYS BANK PLC , CITY OF LONDON
FINANCIAL DERIVATIVES AS AN I.B | EX - CREDIT SUISSE AND MITSUI BUSSAN CITY OF LONDON
MR CLEMENT AGHAYERE , GLOBAL CHAIRMAN INVESTMENT BANKING EUROPE AND AFRICA
SENIOR DEBT PRODUCT SPECIALIST [ DEBT CAPITAL MARKETS CHINA AND ASIA PACIFIC REGION ]
- The UK ,most accomplished emerging markets , Africa - Focused senior investment banker | London - based IB senior executive is exclusively mandated since Oct 2015 , as the preferred corporate origination partner Africa by The third largest bank in the world | oldest Bank in The Peoples Republic of China THE BANK OF CHINA LIMITED | 中国银行股份有限公司
one of the most respected Banks in the World
MARKET CAP $1.41 TRILLION
| africa_bridge_capital_management_and_bank_of_china___3_.pdf |
______________________________________
CLEMENTAGHAYERE
GLOBAL CHAIRMAN
INVESTMENT BANKING LONDON
______________________________________
- City of London Investment banking senior executive Clement Aghayere protege Dr Rilwanu Lukman Former President OPEC , Vienna Austria
British Chief Executive Sub Saharan Africa , Clement Aghayere oversees a portfolio Africa sub region : $ 30 BN | Clement is responsible for the Largest capital raise in the history of Nigeria , a $7bn credit facility [ a commitment - in - principle ] British Banker Clement Aghayere has successfully closed the first tranche of $1bn capital raising mandate, a $300million bi - lateral loan for and on behalf of - AFREXIMBANK CAIRO
British Banker, Clement Aghayere is responsible for BANK OF CHINA LIMITED | 中国银行股份有限公司 | Groundbreaking transaction bank of china first financial Institution transaction continent of Africa | Clement is globally acknowledged city of London most accomplished EM,Banker
portfolio Africa sub region $ 30 BN : Clement Aghayere CIB - corporate Banker and Investment banker, Group Structured Finance Head | British banker Ex Barclays bank PLC , Co - Founder Emerging markets merchant bank Mayfair Brigg Capital | Financial & commodities derivatives Ex - Credit Suisse and Mitsui Bussan commodities | corporate finance and strategist specialist at Bank of China | responsible for the largest debt capital raise in the history of Nigeria a $7bn credit facility a commitment in principle No1 corporate Africa [ Sr Exec & Board member, Chair finance committee, protégé former President OPEC , corporate strategist Global speaker, thought Leader, city of London most accomplished EM, Africa Banker. British Chief executive Clement Aghayere has been leading global investments into Africa for over 20 years | Global Leader, No1
British Chief Executive Sub Saharan Africa , Clement Aghayere oversees a portfolio Africa sub region : $ 30 BN | Clement is responsible for the Largest capital raise in the history of Nigeria , a $7bn credit facility [ a commitment - in - principle ] British Banker Clement Aghayere has successfully closed the first tranche of $1bn capital raising mandate, a $300million bi - lateral loan for and on behalf of - AFREXIMBANK CAIRO
British Banker, Clement Aghayere is responsible for BANK OF CHINA LIMITED | 中国银行股份有限公司 | Groundbreaking transaction bank of china first financial Institution transaction continent of Africa | Clement is globally acknowledged city of London most accomplished EM,Banker
portfolio Africa sub region $ 30 BN : Clement Aghayere CIB - corporate Banker and Investment banker, Group Structured Finance Head | British banker Ex Barclays bank PLC , Co - Founder Emerging markets merchant bank Mayfair Brigg Capital | Financial & commodities derivatives Ex - Credit Suisse and Mitsui Bussan commodities | corporate finance and strategist specialist at Bank of China | responsible for the largest debt capital raise in the history of Nigeria a $7bn credit facility a commitment in principle No1 corporate Africa [ Sr Exec & Board member, Chair finance committee, protégé former President OPEC , corporate strategist Global speaker, thought Leader, city of London most accomplished EM, Africa Banker. British Chief executive Clement Aghayere has been leading global investments into Africa for over 20 years | Global Leader, No1
______________________________________
MR CLEMENTAGHAYERE , CEO
EMEA ADVISORY AND CORPORATE ORIGINATION AFRICA [ MANDATE ]
______________________________________
| africa_bridge_capital_management_and_bank_of_china___3_.pdf |
______________________________________
MR CLEMENTAGHAYERE
EMEA ADVISORY AND CORPORATE ORIGINATION AFRICA [ MANDATE ]
- previous position Co - founder and Partner , senior Vice President Sub Saharan Africa region , Emerging markets merchant bank BriggCapital Mayfair, UK| renamed BriggMacadam Investment bank,UK
_______________________________________________________________________
______________________________________
SINGAPORE
HUB - ASIA PACIFC REGION
_____________________________________
connecting
- The African corporate markets to the Chinese and Asia pacific region capital markets
_____________________________________
[ BRITISH FOUNDER ] CLEMENT AGHAYERE
GLOBAL CHAIRMAN INVESTMENT
BANKING EUROPE AND AFRICA
[ DEBT CAPITAL MARKETS PRODUCTS SPECIALIST CHINA ]
- CIB : corporate Banker and Investment banker , Europe and sub Saharan Africa
British Banker, Ex - Barclays PLC PCMS Money Laundering Division City of London | Derivatives specialist for African investment grade corporates Ex - Credit Suisse and Mitsui Bussan commodities City of London | Co- founder, Senior Partner and Senior Vice President for Africa at Emerging Markets , Merchant Bank BriggCapital Mayfair London renamed BriggMacadam Investment bank Belgravia London | Globally acknowledged as the city of London most accomplished EM, Africa Banker | British senior Banker stems from The Aghayere Family, notably the most credible and accomplished generational banking and finance family in the largest economy in Africa - Nigeria .
____________________________________________________________________________________________________________________________________________
British Founder, Clement Aghayere , British executive Chairman and CEO
Debt capital markets China and Asia Pacific region [ Debt product markets specialist ]
Global Chairman Investment Banking Sub Saharan Africa Division London UK Global Head office Co - Chair Executive board
______________________________________________________________________________________________________________________________
British Founder, Clement Aghayere , British executive Chairman and CEO
Debt capital markets China and Asia Pacific region [ Debt product markets specialist ]
Global Chairman Investment Banking Sub Saharan Africa Division London UK Global Head office Co - Chair Executive board
______________________________________________________________________________________________________________________________
BRITISH BANKER,FORMER BARCLAYS BANK PLC, CITY OF LONDON
MR CLEMENT AGHAYERE , GLOBAL CHAIRMAN INVESTMENT BANKING AFRICA
- The UK ,most accomplished emerging markets , Africa - Focused senior investment banker | city of London - based IB senior executive is exclusively mandated since Oct 2015 , as a corporate finance specialist [ senior consultant ] as the preferred corporate origination partner for the entire continent of Africa by The third largest bank in the world | oldest Bank
in The Peoples Republic of China THE BANK OF CHINA LIMITED | 中国银行股份有限公司
one of the most respected Banks in the World
MARKET CAP $1.41 TRILLION
MR CLEMENT AGHAYERE , GLOBAL CHAIRMAN INVESTMENT BANKING AFRICA
- The UK ,most accomplished emerging markets , Africa - Focused senior investment banker | city of London - based IB senior executive is exclusively mandated since Oct 2015 , as a corporate finance specialist [ senior consultant ] as the preferred corporate origination partner for the entire continent of Africa by The third largest bank in the world | oldest Bank
in The Peoples Republic of China THE BANK OF CHINA LIMITED | 中国银行股份有限公司
one of the most respected Banks in the World
MARKET CAP $1.41 TRILLION
________________________________________________________________________________________________________________________________________________________________________________
1. AFRICAN EXPORT IMPORT BANK CAIRO EGYPT [ The No1, Preferred credit status on the entire African continent ]
______________________________________________________________________________________________________________________________________________________________________________
CLOSED TRANSACTION | London based senior IB senior executive Clement Aghayere CEO solely originated and placed [ CLOSED ] British Banker Clement Aghayere provided transactionary support to the BANK OF CHINA LIMITED | 中国银行股份有限 | successfully closed the 1st tranche of a USD1 billion capital raising mandate specifically a USD 300 million bi - lateral loan transaction for THE AFRICAN BANK OF THE YEAR, 2019 AFREXIM BANK CAIRO EGYPT ] with our principals | BANK OF CHINA LIMITED | 中国银行股份 Johannesburg, South Africa syndicated with BANK OF CHINA LIMITED | 中国银行股份有限 , Seoul Korea | British Banker Clement Aghayere has been appointed President capital markets China | preferred corporate origination partner for the continent of Africa | BANK OF CHINA GROUP LIMITED | 中国银行股份有限公司
________________________________________________________________________________________________________________________________________________________________________________
CLOSED TRANSACTION 2020 | OIL AND GAS : AFRICA BRIDGE CAPITAL MANAGEMENT WITH JOINT VENTURE PARTNERS BANK OF INDUSTRY NIGERIA SUBSIDIARY BOITC | - $10million credit facility for and on behalf of Zomay Group Nigeria “the Company” metamorphosed from the flagship company of Zomay Marine and Logistics Limited | which organically evolved from 3 main business divisions i.e. Marine Logistics Division, Dredging Division and Civil Construction Division and which developed into corporate entities and later subsidiaries of Zomay Group Nigeria Limited | Co- Lead Taiwo Onitiri corporate origination Nigeria | LEAD ARRANGER , CLEMENT AGHAYERE | CHAIRMAN AND CEO
1. AFRICAN EXPORT IMPORT BANK CAIRO EGYPT [ The No1, Preferred credit status on the entire African continent ]
______________________________________________________________________________________________________________________________________________________________________________
CLOSED TRANSACTION | London based senior IB senior executive Clement Aghayere CEO solely originated and placed [ CLOSED ] British Banker Clement Aghayere provided transactionary support to the BANK OF CHINA LIMITED | 中国银行股份有限 | successfully closed the 1st tranche of a USD1 billion capital raising mandate specifically a USD 300 million bi - lateral loan transaction for THE AFRICAN BANK OF THE YEAR, 2019 AFREXIM BANK CAIRO EGYPT ] with our principals | BANK OF CHINA LIMITED | 中国银行股份 Johannesburg, South Africa syndicated with BANK OF CHINA LIMITED | 中国银行股份有限 , Seoul Korea | British Banker Clement Aghayere has been appointed President capital markets China | preferred corporate origination partner for the continent of Africa | BANK OF CHINA GROUP LIMITED | 中国银行股份有限公司
________________________________________________________________________________________________________________________________________________________________________________
CLOSED TRANSACTION 2020 | OIL AND GAS : AFRICA BRIDGE CAPITAL MANAGEMENT WITH JOINT VENTURE PARTNERS BANK OF INDUSTRY NIGERIA SUBSIDIARY BOITC | - $10million credit facility for and on behalf of Zomay Group Nigeria “the Company” metamorphosed from the flagship company of Zomay Marine and Logistics Limited | which organically evolved from 3 main business divisions i.e. Marine Logistics Division, Dredging Division and Civil Construction Division and which developed into corporate entities and later subsidiaries of Zomay Group Nigeria Limited | Co- Lead Taiwo Onitiri corporate origination Nigeria | LEAD ARRANGER , CLEMENT AGHAYERE | CHAIRMAN AND CEO
______________________________________
BRITISH BANKER- EX BARCLAYS PLC
CLEMENTAGHAYERE
CO -FOUNDER EMERGING MARKETS
MERCHANT BANK MAYFAIR LONDON
______________________________________
_______________________________________________
Capital Markets in Asia Pacific
Asia is the largest population center in the world and has the fastest growing economies. China and India need no introduction, but Southeast Asia (Vietnam, Indonesia, Malaysia, Thailand – and a little later Cambodia, Laos and Myanmar) also has very attractive demographics and a huge population – although not nearly as homogenous.
As it follows, there are plenty of companies and sovereigns looking to raise money – both equity and debt, and as such there are large and growing investment banking practices there with big debt and equity capital markets teams.
Now when investment banks segment regions, Asia is broadly covered as Asia Pacific – primarily East, South and Southeast Asia – sometimes Australia and New Zealand. West Asia is usually covered by an investment bank’s EMEA (Europe, Middle East and Africa) division. West Asia includes Turkey, Israel, and the ex-Soviet -stans. In time, this geographical segmentation may change as the African market grows.
Japan used to be so big relative to the local market that investment banks would have Japan and Asia ex-Japan as what is now Asia Pacific. Japan has since been dwarfed by China’s rise and often gets lumped back into the Asia Pacific bucket now.
Investment banking for the Asia Pacific region is generally headquartered out of Hong Kong or Singapore, with large regional offices in China (Beijing, Shanghai, Guangzhou, Shenzhen), Japan (Tokyo and Osaka) and India (Delhi, Mumbai, Bangalore) and small regional offices in Seoul, Taipei, Jakarta, and Kuala Lumpur. Historically, Hong Kong has been a gateway to China while Singapore covered Southeast Asia. Dubai may have some India coverage.
Introduction to Debt Capital Markets in AsiaDebt capital markets in Asia has historically been more of a sovereign (countries issuing debt) while corporates had term loans and revolvers with their corporate banking groups. Banking tends to be more relationship based with longstanding relationship managers offering good terms. Bank debt is also used as more permanent capital, as opposed to North America where there is a revolver for operating cash flow and liquidity and bullet debt in the form of bonds.
This is changing – debt capital markets are becoming deeper and more mature, with swap markets and convertible bond markets developing in Asia – as well as very exotic option markets for various products. You will see call spreads being written for CNH bonds just like with the same product in the US.
As bonds become available, a large host of issuers look to get long-term financing without the onerous covenants of a banking group, especially because rates/coupons are occasionally very favourable because there is more market mania – Asian investors in more speculative products have not been as disciplined as in mature markets such as the US or Europe. However, the investor base is becoming more institutionalised and this is changing fast.
Leveraged Capital Markets in Asia
Along with a very large sovereign investment grade market in Asia (China, South Korea and Japan are about the safest sovereigns that you can buy), a large corporate and financials market exists with plenty of debt being broadly investable whether as a USD issue or easily swapped back through a deep interest rate derivatives market.
Historically, large state owned enterprises have had access to investment grade markets and banks while private corporations needed to seek private capital. Equity is of course expensive, especially with the concentration of mature industry wealth (real estate, financials, trading) in the hands of family oligarchies in Asia (think Crazy Rich Asians) – stakeholder demands have caused a junk bond market to rise to fund operations.
Today, the leveraged finance market in Asia is huge (leveraged loans and high yield bonds), with over USD 3 trillion in outstanding principal. However, only ¬10% of this is actually denominated in USD, as other than Singapore, this is very much a domestic market. For example, most Chinese bonds are denominated in CNY and sold domestically. China, Korea, Japan and India bonds tend to be in CNY, JPY, KRW and INR, respectively. Australian, Indonesian and Singaporean bonds tend to be USD or USD linked.
Having run into problems during the Asian financial crisis, many corporates and sovereigns continue to be cautious about having too much USD debt, especially if there is a currency devaluation against the greenback that leads to debt service becoming very difficult and becoming a larger systemic problem.
China dominates the high yield market broadly and the USD denominated/pegged market with about 60-70% market share in each. Interestingly enough, a huge amount of high yield issuance is from real estate companies. From reading on Bloomberg, you may have come across names such as Evergrande Group, Anbang, HNA Group and Country Garden Holdings and the number of short sellers concerned with their incredibly high leverage.
An enormous amount of debt remains outstanding from those Wild West days, but finally some of the credit is being restructured and we may see a more normalized market going forward.
Debt Investors in Asia Pacific
Who buys this paper? You have your usual suspects in asset managers and insurers, with alternative active managers giving way to more traditional ones as the market matures.
Top investors include global players such as Fidelity, Blackrock, Allianz, Oaktree (Brookfield), JP Morgan Asset Management, Invesco. However, there are also many Asian names that you may not recognize such as Temasek, UOB, Value Partners and Affin Hwang.
_____________________________________________________________________________________________________________________________________________
Capital Markets in Asia Pacific
Asia is the largest population center in the world and has the fastest growing economies. China and India need no introduction, but Southeast Asia (Vietnam, Indonesia, Malaysia, Thailand – and a little later Cambodia, Laos and Myanmar) also has very attractive demographics and a huge population – although not nearly as homogenous.
As it follows, there are plenty of companies and sovereigns looking to raise money – both equity and debt, and as such there are large and growing investment banking practices there with big debt and equity capital markets teams.
Now when investment banks segment regions, Asia is broadly covered as Asia Pacific – primarily East, South and Southeast Asia – sometimes Australia and New Zealand. West Asia is usually covered by an investment bank’s EMEA (Europe, Middle East and Africa) division. West Asia includes Turkey, Israel, and the ex-Soviet -stans. In time, this geographical segmentation may change as the African market grows.
Japan used to be so big relative to the local market that investment banks would have Japan and Asia ex-Japan as what is now Asia Pacific. Japan has since been dwarfed by China’s rise and often gets lumped back into the Asia Pacific bucket now.
Investment banking for the Asia Pacific region is generally headquartered out of Hong Kong or Singapore, with large regional offices in China (Beijing, Shanghai, Guangzhou, Shenzhen), Japan (Tokyo and Osaka) and India (Delhi, Mumbai, Bangalore) and small regional offices in Seoul, Taipei, Jakarta, and Kuala Lumpur. Historically, Hong Kong has been a gateway to China while Singapore covered Southeast Asia. Dubai may have some India coverage.
Introduction to Debt Capital Markets in AsiaDebt capital markets in Asia has historically been more of a sovereign (countries issuing debt) while corporates had term loans and revolvers with their corporate banking groups. Banking tends to be more relationship based with longstanding relationship managers offering good terms. Bank debt is also used as more permanent capital, as opposed to North America where there is a revolver for operating cash flow and liquidity and bullet debt in the form of bonds.
This is changing – debt capital markets are becoming deeper and more mature, with swap markets and convertible bond markets developing in Asia – as well as very exotic option markets for various products. You will see call spreads being written for CNH bonds just like with the same product in the US.
As bonds become available, a large host of issuers look to get long-term financing without the onerous covenants of a banking group, especially because rates/coupons are occasionally very favourable because there is more market mania – Asian investors in more speculative products have not been as disciplined as in mature markets such as the US or Europe. However, the investor base is becoming more institutionalised and this is changing fast.
Leveraged Capital Markets in Asia
Along with a very large sovereign investment grade market in Asia (China, South Korea and Japan are about the safest sovereigns that you can buy), a large corporate and financials market exists with plenty of debt being broadly investable whether as a USD issue or easily swapped back through a deep interest rate derivatives market.
Historically, large state owned enterprises have had access to investment grade markets and banks while private corporations needed to seek private capital. Equity is of course expensive, especially with the concentration of mature industry wealth (real estate, financials, trading) in the hands of family oligarchies in Asia (think Crazy Rich Asians) – stakeholder demands have caused a junk bond market to rise to fund operations.
Today, the leveraged finance market in Asia is huge (leveraged loans and high yield bonds), with over USD 3 trillion in outstanding principal. However, only ¬10% of this is actually denominated in USD, as other than Singapore, this is very much a domestic market. For example, most Chinese bonds are denominated in CNY and sold domestically. China, Korea, Japan and India bonds tend to be in CNY, JPY, KRW and INR, respectively. Australian, Indonesian and Singaporean bonds tend to be USD or USD linked.
Having run into problems during the Asian financial crisis, many corporates and sovereigns continue to be cautious about having too much USD debt, especially if there is a currency devaluation against the greenback that leads to debt service becoming very difficult and becoming a larger systemic problem.
China dominates the high yield market broadly and the USD denominated/pegged market with about 60-70% market share in each. Interestingly enough, a huge amount of high yield issuance is from real estate companies. From reading on Bloomberg, you may have come across names such as Evergrande Group, Anbang, HNA Group and Country Garden Holdings and the number of short sellers concerned with their incredibly high leverage.
An enormous amount of debt remains outstanding from those Wild West days, but finally some of the credit is being restructured and we may see a more normalized market going forward.
Debt Investors in Asia Pacific
Who buys this paper? You have your usual suspects in asset managers and insurers, with alternative active managers giving way to more traditional ones as the market matures.
Top investors include global players such as Fidelity, Blackrock, Allianz, Oaktree (Brookfield), JP Morgan Asset Management, Invesco. However, there are also many Asian names that you may not recognize such as Temasek, UOB, Value Partners and Affin Hwang.
_____________________________________________________________________________________________________________________________________________