Guest Contributor | Feb 20, 2024 | 0
Nedbank Group and Deutsche Bank announce a Southern African corporate banking partnership
Nedbank Group through its Corporate and Investment Banking operation and Deutsche Bank, through Deutsche Securities (SA) have entered into a cooperation to jointly provide primary equity and debt capital markets services to corporate, public sector and institutional clients in South Africa and select markets in sub-Saharan Africa.
The announcement which was made on the Namibia Stock exchange platform last week stated that the two institutions will cooperate on a transaction-by-transaction basis, with clients continuing to contract directly with each entity individually.
According to the statement, the two parties will not be creating a legal entity or other
joint venture structure and there is no impact on existing advisory and financing businesses, which remain separate.
The scope of the cooperation will include the following services: primary equity capital markets activities, including the management of initial public offerings, rights offers and placements; primary equity-linked capital markets activities, including the management of convertible and exchangeable bond offerings; and international debt capital markets activities, including investment-grade and sub-investment-grade Eurobond offerings.
The announcement stated that the key highlights of the cooperation are as follows: Preferred partners in managing capital markets services in South Africa and select markets in sub-
Saharan Africa; combines Nedbank CIB´s local primary markets expertise and strong client franchise in both the corporate and public sectors with Deutsche Bank´s South African equities and global capital markets distribution platform; and broadens client reach through local and international capital markets access, offering relevant, innovative solutions based on global best practice.
Brian Kennedy, Group Managing Executive of Nedbank CIB, said, “The cooperation with Deutsche Bank will enhance Nedbank´s ability to provide our clients with access to deeper sources of capital globally”.
Muneer Ismail, Chief Executive and Chief Country Officer for Deutsche Bank South Africa, said, “The cooperation offers a creative and innovative way to expand Deutsche Bank´s client footprint and deliver customised solutions”.
Alasdair Warren, Deutsche Bank´s Head of Corporate Finance EMEA and Co-Head of Corporate and Investment Bank EMEA, said, “Deutsche Bank has a proud 25-year history in South Africa. Through our cooperation with Nedbank, we aim to broaden our franchise, further underlining our commitment to both the country and the region”.