Tuesday 9th February 2016
NEWS TICKER: February 8th 2016: SimCorp, a provider of investment management solutions says Vescore AG, a Swiss asset manager with $14bn in assets under management, has completed the implementation of SimCorp Dimension. Other divisions of the Vescore group will migrate to SimCorp Dimension in phase 2 of the implementation project, so the whole business will then operate on an integrated platform, designed to support modern, internationally active asset managers as they realize their growth potential. Frank Häusgen, senior sales & account manager at SimCorp says: “Vescore is another example that the ‘Investment Book of Record’ (IBOR) is so much more than a buzzword.” - S&P Capital IQ and SNL has rebranded as S&P Global Market Intelligence. The division’s new name is a strategic move forward as part of the integration of the two previously separate businesses, S&P Capital IQ and SNL Financial, under parent company McGraw Hill Financial (NYSE: MHFI). The businesses originally combined following the successful completion of the SNL Financial acquisition by MHFI on September 1, 2015. MHFI also recently announced its intention to rebrand at the corporate level as S&P Global, subject to shareholder vote in April of this year - RPMI Railpen has announced three new appointments to the in-house investment team for the Railways Pension Scheme. Sweta Chattopadhyay has joined as senior investment manager of the Private Markets team, joining from Adveq, a global alternative investment firm. Matthias Eifert has also joined the £22bn pension scheme from Macquarie Securities, and will take up the role of investment manager focusing on fundamental equity analysis and managing concentrated equity portfolios. Meanwhile, Tony Guida has joined the Alternative Risk Premia team at Railpen as an investment manager, from EDHEC Risk Institute - BCA Research, a provider of investment research, says has partnered with FiscalNote, a technology startup building a platform for analysing government risk, to integrate US policy data and analysis onto BCA’s digital platform BCA Edge. The collaboration will enable investors to factor in today’s complex regulatory landscape into their investment strategies and better understand how individual companies and industries are impacted by legislative actions, to identify alpha generating investment opportunities. The agreement with FiscalNote follows BCA’s collaboration with crowdsourced financial estimates platform Estimize to incorporate earnings and revenue estimates data on the BCA Edge platform - BroadSoft, Inc. (NASDAQ: BSFT), a global unified communication software as a service (UCaaS) provider, has acquired Transera, a provider of cloud-based contact center software for small-medium business (SMB) and large enterprises. The acquisition positions BroadSoft to lead the fast-growing Contact Center as a Service (CCaaS) market, while enabling service providers to offer a comprehensive cloud contact center portfolio with minimal new investments, rapid time-to-market, and seamless integration with BroadSoft's BroadWorks and BroadCloud solutions. BroadSoft believes that Transera's omni-channel (voice, email, chat and social) and analytics-driven cloud contact center software will enable businesses to optimise operational efficiency, strengthen financial performance and improve the business outcomes of customer interactions. "Today's acquisition brings together the leading cloud unified communications provider with a pioneer redefining contact center performance through omni-channel and big data analytics," says Michael Tessler, chief executive officer, BroadSoft. "The multi-billion-dollar contact center market is ripe for cloud disruption, and we now offer service providers a single stack solution with the flexibility to scale from SMB to large enterprise." "Cloud is rewriting the rules when it comes to how businesses can deliver a superior customer-engagement experience through simplicity, on-demand scalability, and advanced analytics," adds Prem Uppaluru, chairman and chief executive officer, Transera, who will assume the role of General Manager and Vice President of BroadSoft Cloud Contact Center - Singapore state-fund Temasek Holdings’ wholly owned investment arm Vertex Venture Holdings’ fourth Israel fund has been oversubscribed by as much as 50%, and is set to see its final close at $150m, according to Singaporean press reports. In the meantime, Temasek says it is set to close a new fund, Red Dot, also worth up to $150m to invest in mature Israeli high tech firms - Wealth manager Charles Stanley says it has appointed Vicky Casebourne and Elizabeth Feltwell as intermediary sales managers. Feltwell joins from The Ingenious Group and will work with financial advisers, solicitors and accountants across Scotland, Northern Ireland and London. Casebourne joined Charles Stanley in 2011 as a trainee investment manager from Brewin Dolphin. She worked as a central investment product specialist, assisting intermediaries with in-depth product analysis before moving to an intermediary sales manager role - Thin and thinner news from Asia today as Chinese New Year celebrations take over from worries about falling stock markets. The focus today is all on Japan: the Bank of Japan released the notes backing its decision to introduce negative interest rates (see news story below). Japan's Nikkei Stock Average rose 1.1%, but is still down 12% from the beginning of the year and is still at 12.8 times this year’s earnings according to S&P Capital IQ. Thailand's SET was up 0.4%. India's Sensex is up 0.1% (essentially flat), while Australia's S&P/ASX 200 ended down 0.01%. Other markets in Asia were closed for the Lunar New Year holiday. The pace of the US Federal Reserve’s tightening on monetary policy still hangs heavy on the market, as last Friday’s jobs figures showed a 151,000 increase in jobs while insurance claims for joblessness stayed flat overall on the previous month. Contrast that with slower and still slowing growth in China, a nervous monetary policy from the PBOC, which is being steered rather than steering markets, still volatile crude oil prices (which can only get worse not better as inventories continue to rise), a collapsing market in Brazil, concerns about NPLs at Indian banks, and the threat of ever looser monetary policy in Europe and you can see why investors are running on empty. Crude oil prices remain sharply lower compared with several months ago, but the pace of falls might be easing. New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at $30.86 a barrel, down three cents from the previous close. The words rock and hard place come to mind this week as the US Federal Reserve will have to steer a delicate monetary course. On the one hand an increase might help cool the economy (but that won’t help US stocks); but if it says that the reason it doesn’t raise rates is because of worries about the global outlook, it will shake investor confidence in the markets and trigger another round of sell offs. The other key trend has been the steadily appreciating US dollar. The US dollar has risen since Friday, factoring in perhaps the possibility of an additional rate rise. The dollar was at ¥ 117.28 in late Asia, up from ¥ 116.82 late Friday in New York. The euro was at $1.1139, down from $1.1160. We’ll find out midweek, as Federal Reserve chair Yellen will testify before Congress on the progress of monetary policy on Wednesday.

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VTB Capital places TRY300m ($167.6m) bond issue

Thursday, 26 April 2012
VTB Capital places TRY300m ($167.6m) bond issue VTB Capital plc has successfully issued a three-year, TL 300 million ($167.6m) bond in Turkey, with a coupon of 11.28%. Underwritten by Garanti Securities, an agency of Garantibank, with Fokus Holding as advisor, the bonds were sold exclusively to local Turkish qualified investors, making VTB Capital plc the first ever foreign entity to have issued a local currency bond that has been distributed locally in Turkey. http://www.ftseglobalmarkets.com/

VTB Capital plc has successfully issued a three-year, TL 300 million ($167.6m) bond in Turkey, with a coupon of 11.28%. Underwritten by Garanti Securities, an agency of Garantibank, with Fokus Holding as advisor, the bonds were sold exclusively to local Turkish qualified investors, making VTB Capital plc the first ever foreign entity to have issued a local currency bond that has been distributed locally in Turkey.

A landmark deal for both VTB Capital and the Turkish capital markets in general, this transaction also represents a milestone in terms of the tenure offered in the Turkish market, with only one other local non-Sovereign entity having offered a three-year bond previously.

Priced at 11.28%, VTB Capital plc has achieved a favourable pricing level, paying a spread over the three-year Turkish Sovereign on par with the largest domestic Turkish banks.



Atanas Bostandjiev, CEO, UK and International, of VTB Capital plc, the bond, " underlines the strategic importance of Turkey for VTB Group, and will lay the foundations from which VTB Capital will look to grow its business operations in the country.”

Makram Abboud, CEO Middle East & Africa and Co-Head of the International Multi-Product Structured Origination and Distribution group for VTB Capital plc, notes: “I believe that trade and financial flows between Russia and Turkey will significantly increase in the very near future and VTB Capital is well positioned to help facilitate these flows and support our clients.As we continue to grow our international presence aggressively, we are evaluating various financing opportunities in the region, and in particular within Turkey. The proceeds will be utilised accordingly.”

"We were issuing Turkish bonds so naturally we needed to choose a strong local player to act as underwriter. Garanti Securities is one of the leading private banks in the local market." adds Abboud. "The transaction was fully sold down to Turkish investors.The bonds are priced at 11.28% so VTB Capital plc has achieved a favourable pricing level, paying a spread over the three-year Turkish Sovereign on par with the largest domestic Turkish banks."



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