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May 2013 Application to act as financial advisor to the Government Offices of Sweden Liv Loge Executive Director Head of Nordic DCM Bo Zethraeus Managing Director Head of Nordic ECM Erik Ulfsson Analyst Nordic ECM Senior sponsorship John Gilbert Managing Director Senior Country Officer – Nordic Region Contact person: Bo Zethraeus Managing Director Client Executive for the Swedish State [email protected] +44 207 134 3262 Company residence: London 25 Bank Street, Canary Wharf London, E14 5JP, United Kingdom Stockholm office Hamngatan 15 111 47 Stockholm, Sweden Full legal name J.P. Morgan Limited¹ Registered in England and Wales: No. 248609 Gary Weiss Managing Director Head of Nordic M&A Jonas Wikmark Executive Director Nordic M&A Andreas Lindh Executive Director Head of Nordic FIG J.P. Morgan contact details J.P. Morgan is pleased to express its interest in providing financial advisory services to the Government Offices of Sweden. J.P. Morgan is a leading global investment bank with a market capitalisation of $180bn and total assets of $2.4trn (May 2013). J.P. Morgan’s global headquarters are in New York, while our European headquarters are in London. We have a strong presence and track record in the Nordic region and our commitment to the region is evidenced by our local offices. J.P. Morgan offers the Government Offices a full range of investment banking services and will provide first class advice in connection with the issuance, sale, purchase or transfer of securities or other financial instruments concerning the state owned companies. We are a global leader in areas such as M&A/Advisory, Equity and Equity Linked Capital Markets, Debt Capital Markets, Commodities, Derivatives, Securitised Products, Equity Research and Institutional Sales, and Global Research. J.P. Morgan confirms that all necessary and valid licenses and permits are held for providing such services to the Government Offices. J.P. Morgan team for the Government Offices Selected corporate finance awards and recognition Nordic M&A Nordic Equity Capital Markets Nordic Debt Capital Markets Nordic FIG Advisory Rank Bookrunner Volume ($mm) No. of deals % share 1 25,793 35 10.4 % 2 Morgan Stanley 25,483 29 10.2% 3 Deutsche Bank 22,782 35 9.2% 4 Goldman Sachs 22,139 30 8.9% 5 Citi 18,714 33 7.5% J.P. Morgan: The partner of choice for EMEA governments² ¹ J.P. Morgan Securities plc is the underwriting entity in equity offerings; ² EMEA ECM privatisations in 2003-2012. Source: Dealogic Bo Zethraeus Managing Director Client Executive for the Swedish State Johan Lustig Managing Director Head of Swedish Client Coverage No.1 European Investment Bank of the Year (2008, 2009, 2010, 2011, 2012) US Dollar Bond House of the Year (2010, 2012) Best Global ECM House (2010) Best ECM House in Western Europe (2010) Global Equity House of the Year (2008, 2009) European ECM House of the Year (2008, 2009, 2010) Global Investment Bank of the Year (2009, 2010, 2013) Western European Investment Bank of the Year (2009) Western European M&A Bank of the Year (2009) Global Equity Bank of the Year (2009, 2010, 2012) Western European Equity Bank of the Year (2009, 2010) Best Investment Bank in the Nordic Region (2010) Best Global M&A House (2009) Best Global DCM House (2010) Best Bank for Corporate DCM (2012) Global Debt Bank of the Year (2009, 2010) “First-class business... … in a first-class way” John Pierpoint Morgan Jr. – May 23, 1933 to the Sub-Committee of the Committee on Banking and Currency of the US Senate
Transcript of Pitchbook A4 template
May 2013
Application to act as financial advisor to the Government Offices of Sweden
Liv Loge Executive Director Head of Nordic DCM
Bo Zethraeus Managing Director Head of Nordic ECM
Erik Ulfsson Analyst Nordic ECM
Senior sponsorship
John Gilbert Managing Director Senior Country Officer – Nordic Region
Contact person: Bo Zethraeus
Managing Director
Client Executive for the Swedish State
+44 207 134 3262
Company residence: London
25 Bank Street, Canary Wharf
London, E14 5JP, United Kingdom
Stockholm office
Hamngatan 15
111 47 Stockholm, Sweden
Full legal name
J.P. Morgan Limited¹
Registered in England and Wales:
No. 248609
Gary Weiss Managing Director Head of Nordic M&A
Jonas Wikmark Executive Director Nordic M&A
Andreas Lindh Executive Director Head of Nordic FIG
J.P. Morgan contact details
J.P. Morgan is pleased to express its interest in providing financial advisory services to the Government Offices of Sweden. J.P. Morgan is a
leading global investment bank with a market capitalisation of $180bn and total assets of $2.4trn (May 2013). J.P. Morgan’s global
headquarters are in New York, while our European headquarters are in London. We have a strong presence and track record in the Nordic
region and our commitment to the region is evidenced by our local offices.
J.P. Morgan offers the Government Offices a full range of investment banking services and will provide first class advice in connection with
the issuance, sale, purchase or transfer of securities or other financial instruments concerning the state owned companies. We are a global
leader in areas such as M&A/Advisory, Equity and Equity Linked Capital Markets, Debt Capital Markets, Commodities, Derivatives,
Securitised Products, Equity Research and Institutional Sales, and Global Research. J.P. Morgan confirms that all necessary and valid
licenses and permits are held for providing such services to the Government Offices.
J.P. Morgan team for the Government Offices
Selected corporate finance awards and recognition
Nordic M&A Nordic Equity Capital Markets
Nordic Debt Capital Markets Nordic FIG Advisory
Rank Bookrunner Volume ($mm) No. of deals % share
1 25,793 35 10.4%
2 Morgan Stanley 25,483 29 10.2%
3 Deutsche Bank 22,782 35 9.2%
4 Goldman Sachs 22,139 30 8.9%
5 Citi 18,714 33 7.5%
J.P. Morgan: The partner of choice for EMEA governments²
¹ J.P. Morgan Securities plc is the underwriting entity in equity offerings; ² EMEA ECM privatisations in 2003-2012. Source: Dealogic
Bo Zethraeus Managing Director Client Executive for the Swedish State
Johan Lustig Managing Director Head of Swedish Client Coverage
No.1
European Investment Bank of the Year
(2008, 2009, 2010, 2011, 2012)
US Dollar Bond House of the Year
(2010, 2012)
Best Global ECM House (2010)
Best ECM House in Western Europe
(2010)
Global Equity House of the Year
(2008, 2009)
European ECM House of the Year
(2008, 2009, 2010)
Global Investment Bank of the Year
(2009, 2010, 2013)
Western European Investment
Bank of the Year (2009)
Western European M&A
Bank of the Year (2009)
Global Equity Bank of the Year
(2009, 2010, 2012)
Western European Equity
Bank of the Year
(2009, 2010)
Best Investment Bank in the
Nordic Region (2010)
Best Global M&A House (2009)
Best Global DCM House (2010)
Best Bank for Corporate DCM (2012)
Global Debt Bank of the Year
(2009, 2010)
“First-class business... … in a first-class way”
John Pierpoint Morgan Jr. – May 23, 1933
to the Sub-Committee of the Committee on Banking and Currency of the US Senate
May 2013
Rank Bookrunner Volume ($mm)
No. of issues
1 128,960 587
2 Citi 94,889 447
3 BofAML 94,738 490
4 Deutsche Bank 87,767 452
5 Barc lays 78,431 381
Rank Advisor Volume ($mm)
No. of
deals
1 155,204 90
2 Goldman Sachs 148,693 81
3 Deutsche Bank 135,260 60
4 UBS 132,154 93
5 Morgan Stanley 125,241 91
J.P. Morgan has an unparalleled position in financial advisory services in the Nordic region
Source: Thomson Financial
Source: Dealogic
2011 / 2011 / 2010
$313 / 513 / 907mm
Joint Global Co.
Joint Bookrunner
ABB / ABB / IPO
2010
$2.1bn
Joint Global Co.
Joint Bookrunner
IPO
2009
$408mm
Joint Bookrunner
Rights Issue
2010 / 2010 / 2009
$685 / 225 / 760mm
Joint Bookrunner
Rights / Conv. / Rights
2007
$1.6bn
Joint Bookrunner
Rights Issue
2009
$3.4bn
Joint Global Co.
Joint Bookrunner
Rights Issue
2008
$1.6bn
Joint Bookrunner
Rights Issue
2004
$573mm
Joint Bookrunner
ABB
2009
$172mm
Joint Bookrunner
ABB
Source: Bloomberg
2013 / 2010 / 2007
$343 / 300 / 407mm
Joint Global Co.
Joint Bookrunner
Rights / Conv. / IPO
2013
$955mm
Sole Global Co.
Joint Bookrunner
ABB
2012/2010
$516 / 1,916mm
Joint Global Co.
Joint Bookrunner
ABB / ”Re-IPO”
2012 / 2009
$211 / 241mm
Joint Global Co.
Joint Bookrunner
ABB / Rights Issue
2012
$1.3bn
Joint Global Co.
Joint Bookrunner
Rights Issue
2005
$300mm
Lead manager
Agency sale
2013
Undisclosed
Altor and Management's
sale of Euro Cater to ICG
and Management
2012
$1.7bn
Advisor to P7S1 on its
sale of Nordic operations
to Discovery
Communications
2012
$4.0bn
Advisor to Baxter
International on the
acquisition of Gambro
2012
Undisclosed
Advisor to IK Investment
Partners on the sale of
Europris to Nordic Capital
2012
$3.5bn
Advisor to Outokumpu on
the acquisition of Inoxum
2012
$2.2bn
Advisor to DS Smith on
the acquisition of SCA
Packaging
2011
$1.1bn
Advisor to Nordic Capital
on the sale of Point to
VeriFone
2011
$2.3bn
Advisor to PTTEP on its
acquisition of a 40% stake
in Statoil’s KKD Oil Sands
Project
2011
$1.8bn
Advisor to Astra Zeneca
on its disposal of Astra
Tech to Dentsply
International
2011
$1.2bn
Advisor to Stanley Black
& Decker on its
recommended public offer
for Niscayah
2011
$6.3bn
Advisor to DuPont on its
recommended public offer
for Danisco
2012
€750mm
Joint Bookrunner
2.625% due Sep-22
2012
€750mm
Joint Bookrunner
3.375% due Aug-19
2012
€500/€500mm
Joint Bookrunner
1.750% due Jan-18
2.750% due Jun-22
2012
€500mm
Joint Bookrunner
5.000% due Mar-18
2012
$1,000mm
Joint Bookrunner
4.150% due May-22
2012
€700mm
Joint Bookrunner
2.500% due Nov-22
2011
$650/$750mm /$350mm
Joint Bookrunner
1.800% due Nov-16
3.150% due Jan-22
4.250% due Nov-41
2011
€800/€800/ £550mm
Joint Bookrunner
3.500% due Feb-15
4.375% due Feb-18
5.625% due Feb-23
2012
€500mm
Joint Bookrunner
3.750% due Mar-22
2011
€700mm
Structuring Advisor
Joint Bookrunner
7.750% 1,000NC10
2013
$1,000mm
Joint Bookrunner
1.375% due Mar-18
2013
$1,000 / $ 1,000mm
Joint Bookrunner
1.625% due Mar-18
FRN due Mar-16
2013
$2,000mm
Joint Bookrunner
1.450% due Mar-18
2011
$0.9bn
Advising the Central Bank
of Iceland on the sale of
FIH Enhvervsbank to a
consortium of ATP, PFA,
Folksam and CPDyvig
2008
$6.9bn
Advisor to the Swedish
Government on the sale
of Vasakronan
2008
$9.0bn
Advisor to Pernod Ricard
on the acquisition of Vin
& Sprit
2008
$5.9bn
Advisor to NASDAQ on
the recommended offer
for OMX
2013
€500mm
Joint Bookrunner
1.250% due May-18
2013
$625 / $625 / $1,250mm
Joint Bookrunner
0.875% due May-16
FRN due May-16
1.625% due Apr-18
Selected Nordic transactions All int‘l corporate bonds 2012
Debt Capital Markets
Nordic M&A
Selected Nordic transactions Nordic M&A completed deals 2007-2012
EMEA ECM 2009-2012 Selected Nordic transactions
Equity Capital Markets
May 2013
J.P. Morgan experience and selected transactions in relevant industries
Strong track record across the industry spectrum as well as in government related transactions
2004
$6.1bn
ABB
Joint Bookrunner
France
Telecoms
2006
$43.1bn
Advisor to the Grand
Duchy of Luxembourg
regarding Mittal’s bid on
Arcelor
2008
$58.7bn
Advisor to Suez on its
merger with Gaz de France
2009
$23.1bn
Advisor to British Energy
on its acquisition by EDF
Metals &
Mining
Top 3 in global Metals & Mining M&A (announced $ volume in
2011-2012)
No. 1 in EMEA Metals & Mining ECM ($ volume in 2011-2012)
Metals & Mining dedicated equity research and specialist sales
teams
Utilities
No. 1 in global Utilities M&A (announced $ volume in 2008-2012)
Established leader in European Utilities investment banking,
having advised on the majority of the transactions in the sector
>$1bn over the past 10 years
No. 1 European Utilities specialist salesperson (Extel, 2012)
Utilities equity research team with broad sector coverage in EMEA
Telecoms
Top 3 in global Telecoms M&A (announced $ volume in 2008-2012)
Bookran 4 out of the 6 largest European telecoms IPOs in 2008-2012
No. 1 European Telecoms equity research team (Institutional Investor, 2013)
Top 3 European Telecoms specialist salesperson (Extel, 2012)
Real Estate
No. 1 in global Real Estate M&A (announced $ volume in 2011-
2012)
No. 1 European Real Estate equity research team (Institutional
Investor, 2010-2013)
Top 3 European Real Estate specialist salesperson (Extel, 2012)
Financial
Institutions
Top 3 in global FIG M&A (announced $ volume in 2011-2012)
No. 1 in EMEA FIG ECM, having bookrun more transactions than
any other bank in 2011-2012
Top 3 / Runner-up European Banks and Insurance equity research
teams (Institutional Investor, 2010-2013)
FIG dedicated specialist sales team
Consumer
& Retail
Top 3 in global Consumer & Retail M&A (announced $ volume in
2011-2012)
No. 1 in global Consumer & Retail ECM, having bookrun more
transactions than any other bank in 2011-2012
Consumer & Retail dedicated equity research and specialist sales
teams
Logistics &
Transport
Healthcare
Top 3 in global Healthcare M&A (announced $ volume in 2012)
No. 1 in global Healthcare ECM (announced $ volume in 2012)
Top 3 pharmaceuticals equity research team (Institutional Investor,
2010-2013)
No. 1 European Healthcare specialist salesperson (Extel, 2012)
2011
$6.5bn
Advisor to E.ON on its sale of UK
electricity distribution network,
E.ON UK to PPL
2007
$1.0bn
Joint Global Co.
Joint Bookrunner
IPO
2008
$9.0bn
Advisor to Pernod Ricard on the
acquisition of Vin & Sprit
2012
$90bn
Joint Financial Advisor and Joint
Corporate Broker on its merger with
Glencore
2008
$65bn
Advisor to Rio Tinto on its successful
defence to BHP’s unsolicited takeover
offer
2012
$1.0bn
Advisor to JSC Russian Railways on
its acquisition of 75% in
GEFCO from Peugeot
2006
$1.9bn
Joint Bookrunner
ABB
2012
$216mm
Joint Global Coordinator
Joint Bookrunner
IPO
Pending
$20.1bn
Advisor to Anheuser-Busch InBev on
its acquisition of the remaining stake
in Grupo Modelo SAB de CV
2010
$2.1bn
Joint Global Co.
Joint Bookrunner
IPO
2010 / 2010 / 2009
$685 / 225 / 760mm
Joint Bookrunner
Rights / Conv. / Rights
2012
$1.9bn
Joint Global Co.
Joint Bookrunner
IPO
Pending
$23bn
Advised
on its sale to
2012
$1.3/ 0.9 / 1.2bn
Joint Global Co.
Joint Bookrunner
IPO / ABB / ABB
2013
$2.6bn
Senior Lead Left Bookrunner
Stabilisation Agent
IPO
2012
$1.3bn
Joint Global Co.
Joint Bookrunner
Rights Issue
Top 3 in global Transportation M&A (announced $ volume in 2010-
2012)
Top 3 in global Transportation ECM ($ volume in 2010-2012)
Logistics & Transport dedicated equity research team
2012
$778mm
Advisor to REN on the Portuguese
Government’s sale of a 40% stake to
State Grid of China and Oman Oil
2006
$10.7bn
IPO
Joint Bookrunner
Russia
Oil & Gas
2004
$3.7bn
ABB
Joint Bookrunner
Germany
Telecoms
2006
$1.9bn
ABB
Joint Bookrunner
Germany
Transportation
2012
$2.0bn
Advisor to Simon Property Group on
its acquisition of a 28.7% equity stake
in Klépierre from BNP Paribas for
$2.0bn
2012
$4.0bn
Advisor to Baxter International on the
acquisition of Gambro
2011-2012
$49bn
Bookrunner of 5 transactions (the re-
IPO and 4 follow-on offerings) in the
US Treasury’s exit from AIG
2012
$5.2bn
Joint Global Co.
Joint Bookrunner
Marketed ABB
2012
$778mm
Advisor to REN on the
Portuguese Government’s
sale of a 40% stake to
State Grid of China and
Oman Oil
2010
$3.4bn
Advisor to Borealis and
Teachers’ on their
acquisition of HS1 from the
UK government
2011
$0.9bn
Advisor to the Central Bank
of Iceland on the sale of
FIH Enhvervsbank to a
consortium of ATP, PFA,
Folksam and CPDyvig
2008
$6.9bn
Advisor to the Swedish Government
on the sale of Vasakronan to AP
Fastigheter
2008
$9.0bn
Advisor to Pernod Ricard
on the acquisition of Vin
& Sprit
2011-2012
$49bn
Bookrunner of 5
transactions (the re-IPO
and 4 follow-on offerings)
in the US Treasury’s exit
from AIG
2011
$1.3bn
Joint Global Co.
Joint Bookrunner
IPO
2010
$18.1bn
Joint Lead Bookrunner
IPO
2012
$5.2bn
Joint Global Co.
Joint Bookrunner
Marketed ABB
2008
$6.9bn
Advisor to the Swedish
Government on the sale of
Vasakronan to AP
Fastigheter
2013
$955mm
Sole Global Co.
Joint Bookrunner
ABB
Pending
$15.8bn
Advisor to Thermo Fisher Scientific on
the acquisition of Life Tech
M&A ECM
Selected experience with government related transactions
