Equity Capital Markets
Berenberg executes a multitude of transactions on the capital market
Having already successfully completed 102 equity placements with a total transaction volume of more than EUR 25bn since the beginning of 2013, Berenberg has once more underlined its outstanding position in Equity Capital Markets (ECM). With 79 ECM transactions in the German speaking region alone since 2013, Berenberg is the #1 investment bank in Equity Capital Markets (by number of issues).
Berenberg is currently involved in the following transactions, while we are also preparing various transactions which are not public yet:
Overview of ECM transactions
- OFFICEFIRST Immobilien AG (IPO, Joint Bookrunner)
- Shop Apotheke Europe N.V. (IPO, Joint Global Coordinator/ Joint Bookrunner)
- innogy SE (IPO, Co-Lead Manager)
View the Economic Calendar for the week starting on 26th September 2016
Ifo business climate (26 September) – stable after Brexit hit
1st US presidential debate between Clinton and Trump (27 September)
Eurozone economic sentiment (29 September) – stable
US GDP annualized (3rd reading) (29 September) – below trend
Eurozone inflation (30 September) – oil price base effect
Forecasts at a glance
Forecasts at a Glance
A weekly update by our economists
Debt Capital Markets
Debt Capital Markets Team with a successful start in 2014
In 2014, Berenberg expanded its already prominent position in European Debt Capital Markets successfully and originated numerous primary market transactions, including Corporate, High Yield, Convertible, Covered and Government Bonds as well as Private Placements. Berenberg acted as a Bookrunner in eight transactions. The highlights in 2014 included, among others, the placement of the first registered benchmark bond as Sole Global Coordinator and Bookrunner with a volume of EUR 500m for the Slovak Republic, followed by a EUR 245m Private Placement for the province of Lower Austria (EUR 210m (Float), EUR 35m (Fix)). The DCM-Team further successfully issued a EUR 275m Convertible Bond including the tap for Grand City Properties S.A as well as a EUR 250m High-Yield Bond for Hapag-Lloyd. Additionally Berenberg placed several international transactions, e.g. in Greece (Intralot SA EUR 250m High Yield) and Great Britain (Playtech PLC EUR 297m Convertible).
Selected DCM transactions
In continuation on the successful year 2014, Berenberg is currently working on further transactions which are expected to be closed soon.
Global Outlook: Cruising Speed despite Grexit Risk
Current macro presentation
Reasonable oil prices: nice boost for Western world, tough luck for Russia
Open the document here
- US: private sector in good shape = trend growth after weak
- China: sufficient growth despite slowing trend, risks well contained
- Eurozone: oil, exchange rate and ECB support demand as tail risks fade
- Euro crisis? Systemic crisis over, Greek crisis remains
- UK: solid recovery but mind the politics; Brexit risk contained
- Tail risks: Emerging market crash, Grexit
US presidential candidates’ economic platforms
Dr. Mickey Levy, Berenberg Chief Economist US, Americas and Asia
View the report here
Annual Report 2015
Berenberg continued to expand in 2015 – please find further details in our annual report.
View our Annual Report here
DIVIDEND SEASON GATHERS PACE
Dividend season gathers pace
- DAX companies will pay dividends at the record level of approximately €31 billion.
Read more in the Berenberg Impulse of April
- High-dividend equities are a sensible alternative to low-yield bonds in the current environment.
Berenberg reports big profit increase: Net profit more than doubles from last year
As a direct result of the business expansion strategy pursued in the last few years, private bank Berenberg can report a big profit increase: Net profit for the year rose from €40 million in 2014 to a record amount of €104 million in 2015 (+160 %).
Golf star Kaymer new Berenberg brand ambassador
Berenberg is expanding its brand ambassador programme. Following in the footsteps of Gary Player and Branden Grace, former Ryder Cup captain Colin Montgomerie and Germany's top golfer Martin Kaymer will also start representing Germany's oldest private bank in 2016.
PDF of press information
Read the latest issue of Equities Highlights
Satellites - Sporting Goods - Beer
Smon Kuper - Top Euro 2016 Picks
View Equities Highlights - Issue 13
Berenberg Thematics Conference
Elite Report names Berenberg “Best Asset Manager” for 7th time
Berenberg defends its leading position in Germany’s private banking market
Read more in the press information
25 years of german unity
When the reunification of Germany became a reality in 1990, it was also time for the forecasters to take centre stage. How long would it take until the East German economy had shaken off the consequences of 40 years of communism?
Read more about "25 years of german unity"
Berenberg/HWWI Digital Economy study: “The world is finding new ways to connect”
In their latest study, private bank Berenberg and the Hamburg Institute of International Economics (HWWI) have investigated the topic of the digital economy. “Old competitive advantages and market shares are coming under pressure from disruptive innovations. A new wave of digital start-ups is rolling in: only those that can combine venture capital with new ideas will be competitive,” states Professor Henning Vöpel, Director of the HWWI. “Germany in particular needs to update its hugely successful economic model to take account of digitisation and demographic change.”
Read more here "The Digitaleconomy"
Berenberg appoints Dr Mickey Levy as Chief US and Asia Economist
Berenberg is further expanding its activities with institutional investors in the US and recruits long-time chief economist of Bank of America Mickey Levy as chief economist for the US, Americas and Asia.
Euromoney: Berenberg is the “Best Equity House in Germany”
Berenberg was named “Best Equity House in Germany” at the Euromoney Awards for Excellence in London. The award was presented by the well known finance magazine Euromoney.
Read more about the “Best Equity House in Germany"
Golf and charity
Gary Player visits young homeless people
At last year’s Berenberg Gary Player Invitational in Wentworth, USD 100,000 was collected for the Depaul UK charity. Golf icon and Berenberg brand ambassador, Gary Player, along with Dave Mortlock, Berenberg Head of Equities, have now visited Depaul UK’s London-based Willesden Hostel, a long-stay hostel providing accommodation and specialist support for young homeless people between the ages of 16 and 25. “It’s been fantastic to come and see how the money we raise through the Berenberg Gary Player Invitational is put to such amazing use by DePaul UK,” said Gary Player. The 2015 Berenberg Gary Player Invitational will take place at its now regular UK home of Wentworth. An all-star cast of PGA Tour professionals from around the globe will participate in the event along with Player himself to celebrate the union of golf and giving.
BARBARISM VS. UTOPIA - Adressing social challenges with profitable business models
Berenberg London Private Banking and Big Society Capital welcomed Nobel Peace Prize winner and founder of Grameen Bank, Professor Muhammad Yunus and CEO of Danone, Emmanuel Faber, who discussed the role of social business within global corporations.
Read more here...
25 years of support for up-and-coming young artists
For 25 years, the Berenberg Bank Foundation of 1990 has been supporting emerging talent in the cultural field. The 2015 Berenberg Culture Prize was awarded to saxophonist Asya
Berenberg brand ambassador Grace wins in Qatar
At the Commercial Bank Qatar Masters, Berenberg brand ambassador Branden Grace secured his sixth title on the European Tour for professional golfers. Grace is the only player so far to have won two tournaments in the current season.
Cooperation in the areas of financing and investment banking
Berenberg and Bayern LB, one of the major funders of companies in the high-end SME segment and of large companies in Germany, will jointly provide companies in the German market with a comprehensive range of services. The aim is to become the first point of call for financing and investment banking.
EURO PLUS MONITOR 2014: LEADERS AND LAGGARDS
Once a year, we lean back and take an in-depth look at the adjustment progress and the fundamental health of 21 European countries. This year, we again find further significant improvements. But the pattern is very uneven. The key insights of our 2014 Euro Plus Monitor, published jointly with the Lisbon Council.
12th Berenberg European conference
Our European conference at Pennyhill Park near London continues to grow this year, with 272 corporate representatives in attendance, up by 20% on last year and an almost tenfold increase since our inaugural conference in 2003. In the next four days, our clients will have the opportunity to see presentations across four sector-themed streams a day, and our events team will manage the logistics of over 2,000 meetings.
2014 has been another exciting year for Berenberg Equities. The investment we have made in our team at a time when many of our competitors are scaling back has made us the fastest growing investment bank in European equities. We continue to pride ourselves on our reputation for providing client-focused, high-quality research, sales and execution services. With a team of 80 analysts, more than 50 equity sales people, and a coverage set to hit around 550 shares by year-end, we offer one of the broadest research products in the market.
FIXED INCOME RESEARCH
Fixed Income Sector Study: The German real estate industry
The German real estate industry benefits from various megatrends, sound economic growth, and strong underlying structural factors. We see strong upside potential particularly for convertible bonds issued from German residential real estate companies.
Companies covered in this study:
Read more here...
- Adler Real Estate AG
- Deutsche Annington AG
- Deutsche Wohnen AG
- DIC Asset Management AG
- GAGFAH S.A.
- Grand City Properties S.A.
- LEG Immobilien AG
- TAG Immobilien AG
In his webblog Berenberg's chief economist Dr Holger Schmieding writes about current market events - and his view on them.
Seit 1993 berichtet Dr. Schmieding über die Finanzwelt.
Aktuelle Themen der Finanzwelt werden beleuchtet und kritisch hinterfragt.
Global Private Banking Awards: Berenberg named “Best Private Bank in Germany“ for the fourth consecutive year
Hamburg. Berenberg has, once again, been recognised as Best Private Bank in Germany at the 2014 The Banker & PWM Global Private Banking Awards. This is the fourth consecutive year that Berenberg has won in this category – the only bank in the history of the awards to have achieved this.
Berenberg's chief economist Dr. Holger Schmieding is No. 1 for Europe again
In the annual Thomson Reuters Extel survey, financial professionals have chosen Berenberg chief Economist Dr. Holger Schmieding as the top-ranked analyst for Pan-European Economics & Macro. Read more
Get the latest economic updates from our award-winning economists here
SEPA - Single Euro Payments Area
The new SEPA directive came into force on 1st February 2014. The different national payment schemes for credit transfers and direct debits will be replaced with the new uniform SEPA payment scheme across all European countries.
Instead of your bank account number and sort code, you will in future need the IBAN (International Bank Account Number) and BIC (Business Identifier Code). Both codes can be found on your account statements or your girocard.
Further information about SEPA