Nedbank - Deutsche Bank cooperation
Nedbank through its Corporate and Investment Banking operation (˘Nedbank CIB÷) and Deutsche Bank, through Deutsche Securities (SA) Pty Ltd. (˘Deutsche Bank÷) 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 two institutions will cooperate on a transaction-by-transaction basis, with clients continuing to contract directly with each entity individually. The two parties will not be creating a legal entity or other joint venture structure. 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 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 CIBĂs local primary markets expertise and strong client franchise in both the corporate and public sectors with Deutsche BankĂs 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.