MEDIOBANCA CORPORATE PRESENTATION - UNIVERSITÀ COMMERCIALE L. BOCCONI, MILAN - MEDIOBANCA SPA
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Mediobanca Corporate Presentation
Università Commerciale L. Bocconi, Milan
September 20th 2013
History and mission of Mediobanca
Group Profile
Founded in 1946 by Comit, Credit and Banco di Roma, the three state-owned “banks of national interest”
1946 Mission: to support the rebuilding of the Italian industry through supply of medium/long-term financing
Foundation and advisory services to enterprises
1950s: supporting growth of leading Italian groups
1956: listing on Milan stock market (the first banking group listed after the war)
1950-70s Fiduciary business via Spafid (1951), consumer credit with Compass (1960) and leasing with Selma (1970)
Development
Key role in Italian industry restructuring: MB became “house bank” for the most important Italian
industrialists
By mid-1970s MB’s equity investment portfolio included Generali (4.5%), Fiat (2.5%), Montedison (2.5%),
1970s – 80s Olivetti (5%), Pirelli & C, (3.3%) and Fondiaria (10%)
Restructuring of Italian 1998: MB privatization; core shareholders’ pact between state-owned banks (25%) and private corporates
Industries (25%)
Industrial restructuring followed by a surge of privatizations and IPOs, where MB confirmed its leadership
Residential mortgages business started up with Micos (1992)
1990s – early 00s Increase in size of equity investment portfolio (Generali 14%)
Italian largest Private banking business entered with Banca Esperia (2001) and CMB (2003)
privatizations
New management team (2003) and strategy refocused on banking activities
CIB activities internationalized with the opening of branches in Paris (2004), New York (2006), Madrid
(2007), Frankfurt (2007), London (2008) and Istanbul (2012)
Recent years
Creation of a leading domestic operator in consumer lending (acquisition and merger of Linea, 2007)
diversification
Retail banking started with CheBanca! (2008)
2
Business model
Mediobanca Group
CIB & Retail & Principal
Corporate Centre
Private Banking Consumer Investing
Equity
Consumer credit Leasing
Wholesale Banking investments
Lending
Advisory Retail banking
Capital Markets
Private banking
3
Increasing international presence
Direct presence
2004 2007 2008 2012
France Germany U.K Istanbul
Lending and Lending and Capital Markets Corporate Finance
Corporate Finance Corporate Finance
Spain Spain
Lending and Lending and Corporate
Corporate
Finance Finance
Moscow
U.S.A London
U.S.A Luxembourg
Brokerage
Brokerage Frankfurt
Paris
Milan
Madrid Istanbul
New York
Rome
4Corporate Finance
Client-focused professionals organized by Industry Teams
Mergers and
Company acquisition
Debt
valuations Advisory
A track record of 60 years of unparalleled achievement and
long-term relationships with major Italian groups
Corporate
Shareholders Restructurings
agreements
Proven capability in providing a comprehensive service
Company
Financial
Unique understanding of domestic industrial, regulatory, Strategic
Analysis and
objectives
legal and tax environment benchmark
Joint – ventures Relations with
Excellent relationships with major international financial
And partnerships Institutional
institutions, such as investment banks, commercial banks, Disposals bodies
private equity funds, etc. and
spinoffs
Branded Goods
Industries Energy FIG Real Estate TMT Debt Advisory
& Industrials
Milan and regional
Offices Frankfurt Madrid Paris
Area offices
5M&A major deals in 2011-2013
Leadership in M&A confirmed not only by the size and importance of the deals, but also the high degree of coverage in
terms of industries
Pending Pending July 2013 June 2013 May 2013 May 2013 May 2013 May 2013 April 2013 March 2013 February 2013 January 2013
€ 83.7m
€ 101m € 704m Value undisclosed € 75m € 298m € 2.5bn Value undisclosed Value undiscloesd € 4,587m € 140m € 11m
Acquisition of a Units’ disposal of
Disposal of the real estate fund Acquisition of
majority stake in Sale of 66 branches to Construction equipment, Disposal of South European Acquisition of Reorganization of Endesa Business combination Equity investment by
Disposal of Carige AM SGR Generali US life managed by Morgan a 92% stake in GBW by
Pomellato Group by Banco Etcheverria agriculture and Stanley SGR S.p.A. a consortium led by businesses to Norbert Safe participations in between Sesa Group and Fondo Italiano di
by Banca Carige reinsurance business to
PPR/Kering industrial automation PATRIZIA Immobilien AG Dentressangle by Fiege by Landi Renzo Latin America Made in Italy 1 SPAC Investimento SGR
SCOR Financial Advisor to
Financial Advisor to Financial Advisor to Financial Advisor of Financial Advisor to MSEOF Como Sarl and Financial Advisor to Financial Advisor to Financial Advisor to Financial Advisor to Financial Advisor to
the Acquiror Financial Advisor to NCG the Company MSEOF Garda Srl the Acquiror the Seller Financial Advisor to Sesa
Banca Carige Generali the Acquiror Enel / Endesa the Seller
December 2012 December 2012 December 2012 December 2012 December 2012 December 2012 December 2012 December 2012 December 2012 November 2012 November 2012 October 2012
Financiere du Loch SAFA
Value undisclosed € 5,425m € 46m
€ 264m € 752m € 208m € 426,2m € 1,641m
€ 360m Acquisition by € 800m € 72m
Take-over and
Acquisition of Coesia Group of Sale to C.R. Asti of 60.42% squeeze out by Acquisition from Value undiscloesd
the majority stake by 100% of Oystar North Sale of Brazilian
stake of MPS into Bollorè municipality of Turin of a Disposal of Müller Investment of FSI in Italian jeans
Merger with Bollorè PAI Partners from America from electricity transmission Recapitalization Acquisition of
Biverbanca stake in Group’s stake in Douglas Paprec Group manufacturer (Grotto)
Marcolin Family and Odewald & Cie. network concessions Rosen Eiskrem
Della Valle Family AMIAT e TRM Holding to Advent
Financial Advisor International by DMK
Sole Financial Advisor to to the Acquiror and Financial Advisor to
Financial Advisor to Financial Advisor of Financial Advisor to Financial Advisor to Financial Advisor to Financial Advisor to FSI the Company
the Acquiror PAI Partners Coesia Group ACS MPS the Target Presenting Bank Financial Advisor to IREN Advisor to Müller Group Financial Advisor to DMK
October 2012 July 2012 May 2012 March 2012 March 2012 January 2012 January 2012 December 2011 December 2011 December 2011 December 2011 November 2011
€ 1.668m € 82,7m
€ 49m € 436m Value undisclosed Value undisclosed Value undisclosed € 573m
Value undisclosed Value undisclosed Value undisclosed
€ 3.5bn Disposal of Delmi’s 50% Acquisition by JS Group
Acquisition of the stake in TdE, controlling Investment by Fondo Corp. of the entire share Acquisition by Emak of
Acquisition by Acquisition by Equity investment by Acquisition of
depositary bank activity holding of Edison S.p.A., Acquisition of Coccinelle Italiano di Investimento Coesia Group of 100% of capital of Acquisition of Balconi the entire share capital of
Sale of 30% of Swisscom of S.p.A. by E.Land World SGR through equity and Fondo Italiano di Tecomec, Comet, Sabart Alcisa Group by
of four italian cooperative to EDF and acquisition by FlexLink Holding AB from Permasteelisa S.p.A. S.p.A. by Clessidra SGR
SNAM to CDP Delmi of a 70% stake in Metroweb together with Limited convertible capital Investimento SGR from Investindustrial and and Raico from Yama Grandi Salumifici Italiani
bank groups by ICBPI AAC Capital Partners S.p.A.
Edipower S.p.A. F2i increase Alpha P.E
Financial Advisor to Financial Advisor to the Financial Advisor to the Sole Financial Advisor to Financial Advisor to the Financial Advisor to the Financial Advisor to the Financial Advisor to the Financial Advisor to the
Advisor to ICBPI Financial Advisor to a2a Advisor to Swisscom
Eni S.p.A. Seller Seller Coesia Group Seller Sellers Seller Acquiror Acquiror
October 2011 October 2011 September 2011 September 2011 July 2011 July 2011 June 2011 June 2011 June 2011 March 2011
€ 243m € 97m
€ 609.6m € 150m € 187m
€ 700m Partnership in life and € 1,815m Disposal of €1.4bn Value undisclosed
Acquisition by c. 85% shareholding in Acquisition by Global
non-life bancassurance Disposal of Acquisition of Acquisition by BC Partners
Eurazeo SA of a 45% stake Acquisition by with purchase of a 81% Banca Agricola Commerciale Acquisition of 77.5% stake Games of 50,68% stake in Acquisition of
in Moncler SpA from renewable assets to della Rep. di S. Marino by Pittarello Group of a 78.7% stake in Gianfranco Ferrè
Tim Participações of stake in Bipiemme Vita by Bridgepoint, Canepa by 21 Investimenti in Visiant Galyleo SNAI and subsequent
Carlyle Group Plc and Covéa Group UniCredit to Gruppo Coin (IT Holding Group) by
AES Atimus Group Energy, REEF, Antin and Istituto Bancario tender offer for
Brands Partners 2 SpA Sammarinese outstanding shares Paris Group
Gas Natural
Financial Advisor to Financial Advisor to Financial Advisor to Sell Side Advisor to
Financial Advisor to ACS Financial Advisor to
Advisor to the target Telecom Italia Banca Popolare di Milano Advisor to UniCredit the Acquiror Advisor to Indra Advisor to Global Games Financière Tintoretto the Seller
March 2011 March 2011 March 2011 January 2011 January 2011 January 2011
€ 290m € 27.43m
Value undisclosed Value undisclosed € 1,0bn
€ 1.3bn
Acquisition of SET Group Acquisition by Eaglemoss Acquisition by Telecinco
Acquisition by Acquisition by Prysmian of by Limak from Acquisition of Ittierre Publishing of a 51% stake of assets from Grupo Prisa
Openjob 100% stake capital of Italcementi Group (IT Holding Group) by in GE Fabbri Ltd from RCS (Cuatro and a 22% stake in
of 100% Metis Draka Holding Albisetti S.p.A. Mediagroup SpA Digital+)
Financial advisor to Financial Advisor to Financial Advisor to Financial Advisor
Openjob Advisor to the Acquiror Italcementi Group the Seller Advisor to the Target to Mediaset
6M&A Deals cross-border
Pending July 2013 May 2013 May 2013 September 2012 May 2012 October 2011 September 2011 June 2011 July 2011
€ 609.6m
€ 83.7m € 243m
€ 704m Value undisclosed €1.4bn
Value undisclosed Partnership in life and
Units’ disposal of € 2.9bn € 224m Acquisition by
the real estate fund managed by Eurazeo SA of a 45% stake in non-life bancassurance
with purchase of Acquisition of
Acquisition of a majority Morgan Stanley SGR S.p.A. Moncler SpA from Acquisition by BC Partners of a
Disposal of Disposal of South European Public tender offer on 100% a 81% stake in Ono Packaging by CCPL
stake in Pomellato Group by Restructuring of Seat Pagine 78.7% stake in Gruppo Coin
Generali US life reinsurance businesses to Norbert Buongiorno S.p.A. shares Carlyle Group Plc and Brands Bipiemme Vita by
PPR/Kering Dentressangle by Fiege Gialle S.p.A. financial debt Partners 2 SpA
business to SCOR by DoCoMo Deutschland GmbH Covéa Group
Financial Advisor to
Financial Advisor to MSEOF Como Sarl and Financial Advisor to
Financial Advisor of MSEOF Garda Srl Financial Advisor to Senior Sell Side Advisor to
Financial Advisor to Generali the Acquiror the Seller Financial Advisor to the Target Advisor to the target Banca Popolare di Milano Financière Tintoretto Financial Advisor to CCPL
Secured bond holders
June 2011 March 2011 2011 January 2011 July 2010 October 2009 October 2009 September 2008 February 2008 June 2007
Redefinition of the joint Acquisition by SMEG of € 1,0bn Value undisclosed Value undisclosed € 300m Value undisclosed Value undisclosed €2.0bn
venture agreements with Australian assets and brands of
Acquisition of 77.5% stake in GDF Suez REXEL Acquisition by Telecinco of Acquisition of Acquisition of Acquisition of Acquisition of parts from
Acquisition of Wagon Automotive Nagold by Acquisition of
Visiant Galyleo assets from Grupo Prisa (Cuatro a Non-Performing Loan Portfolio by Maciachini business park (Milan) Eurocryor Endesa by E.ON Enel Viesgo from Enel by E.ON
and a 22% stake in Digital+) Metalmeccanica Tiberina from by EPTA SpA
ColonyCapital
IVG Immobilien
Financial Advisor
Advisor to Indra Financial Advisor to Acea Financial Advisor to SMEG to Mediaset Financial Advisor to Acquiror Financial Advisor to Acquiror Financial advisor to the Acquiror Financial Advisor to Acquiror Financial Advisor to Seller Financial Advisor to Seller
June 2007 November 2010 February 2010 March 2010 November 2009 May 2009 May 2009 February 2009 October 2008 October 2008
Value undisclosed € 1.5bn € 4.8bn €2.6bn
Value undisclosed Value undisclosed €2.0bn € 200m
€ 100m € 323m
Acquisition by Acquisition by ENI of the Disposal of
Acquisition of 100% of Acquisition by Arcotecnica Real Dismissal by Enel of 80% of Acquisition by Koninklijke Philips
Credit Agricole SA of Disposal by Carrefour of 20% Buy-back of minority primary gas operator in energy assets in Italy to
Madaus Pharma by Rottapharm Estate of Icade Italia SpA from Enel Rete Gas to F2i and AXA Electronic of Saeco International Acquisition by Air France of a
Carispe and 96 branches (an 80% Finper stake to Brunelli family shareholders Belgium Suez
Icade Private Equity Group stake in Cai/Alitalia
interest in Cassa di Risparmio
della Spezia)
Financial Advisor to the Financial Advisor to the
Financial Advisor to Rottapharm Advisor to Credit Agricole Advisor to ENI Financial Advisor to Enel Financial advisor to the Target Financial Advisor to the Acquiror
Seller Advisor to the Target Acquiror Advisor to ENI
October 2008 June 2008 March 2008 March 2008 October 2007 August 2007
July 2007 March 2007
€1.6bn
€ 80m € 135mn € 1.25bn €5.3bn
€ 800mln € 226 m
Disposal of
Acquisition of
Dismissal by Telecom Italia of LA SNET to E-on Acquisition by Cofathec Disposal by Accor SA of Gemeas Disposal by Assicurazioni Acquisition of Beni Stabili
Minority investment of Montepaschivita by AXA
100% of Alice France of 7 power plants from Cusin Ristorazione e Scapa Italia Generali SpA of Nuova Tirrena by Groupe Financiere des
SNCF in NTV
(TI French broadband operations) Edison to Barclays P.E. Spa to Groupama SA Regions
Financial Advisor to the Seller Financial Advisor to the
Advisor to NTV Co-Advisor to the Seller Advisor to ENEL Advisor to Edison Advisor to Beni Stabili Advisor to Montepaschivita
Seller
7Lending & Structured Finance
Financing specialists are active in
Debt Origination
advising client on analyzing potential capital structure
and financing solutions available across a broad array
of debt products, including addressing credit rating Corporate Leveraged
implications lending finance
providing structuring and execution of lending
transactions Company
granting access to significant size financing through
Project Export
the international syndicated market
finance finance
offering facility and security agency services for
Corporate and Structured Finance transactions
Loan
Syndications
Additional Services Facility Agency Security Agency Rating Advisory Debt Advisory
Milan and regional
Offices Frankfurt London Madrid Paris
area offices
8Syndicated loans – leading position in Italy
June 2013 June 2013 April 2013 April 2013 February 2013 February 2013 February 2013 February 2013 December 2012 July 2012 May 2012
€ 150m € 345m € 600m € 200m
€ 600m General Corporate € 200m € 9.44bn € 400m Refinancing and
Refinancing, Capex and General Corporate
Refinancing Facilities and Capex Line and € 2bn Forward Start General Corporate € 11bn € 500m
General Corporate
General Corporate Bookrunner, Bookrunner, General Corporate Revolving Credit Facility Revolving Credit Facility Term Facilities Refinancing Facilities Refinancing Facilities
Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger
Mandated Lead Arranger and Project Monitor and Facility Agent and Facility Agent Mandated Lead Arranger Bookrunner Bookrunner and Doc Agent Mandated Lead Arranger and Bookrunner Bookrunner Mandated Lead Arranger
May 2012 May 2012 April 2012 April 2012 February 2012 November 2012 November 2012 October 2011 September 2011 August 2011 July 2011
TELCO S.p.A.
€ 130m
€ 50m € 2.1bn € 900m € 400m
€ 1,246m € 1,050m € 308m € 600m € 3.2bn Refinancing and € 1.95bn Acquisition & Refinancing Refinancing Facilities Refinancing Facilities
Acquisition Facilities Refinancing Facility Refinancing Facilities Acquisition Facilities Refinancing Facilities General Corporate Revolving Credit Facility Revolving Credit Facility Facilities
Mandated Lead Arranger
Bookrunner Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Bookrunner and Bookrunner Arranger Bookrunner Bookrunner Mandated Lead Arranger Bookrunner
July 2011 July 2011 June 2011 June 2011 June 2011 December 2010 December 2010 November 2010 May 2010 April 2010 January 2010
€ 1.35bn
(Italy & Spain) € 985m € 700m € 300m € 850m € 1.4bn ($ and €) € 2bn € 1.2bn € 400m € 10bn € 1,070m
Facilities LBO Revolving Credit Facility Refinancing Facility Refinancing Facilities Facilities Revolving Credit Facility Revolving Credit Facility TL & RCF Revolving Credit Facility Refinancing Facilities
Coordinator Bookrunner Mandated Lead Arranger Bookrunner Bookrunner Global Coordinator Mandated Lead Arranger Bookrunner Mandated Lead Arranger Sole Coordinator Bookrunner
January 2010 September 2009 July 2009 April 2009 December 2008 December 2008 July 2008 June 2008 June 2008 June 2008 May 2008
TELCO S.p.A.
For the acquisition of
Enel Rete Gas 25% of:
€ 1.3bn € 1,025m € 600m € 8bn € 360m € 3.1bn € 190m € 110m € 275.6m € 3.2bn € 113m
Credit Facility Senior Credit Facilities Term Facilities TL & Forward Start Term Loan Facilities Term Loan Facilities Refinancing Facilities Term Loan Facilities Project Financing Term Loan Facilities LBO
Mandated Lead Arranger Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner Mandated Lead Arranger Bookrunner Bookrunner Sole Bookrunner
December 2007 April 2007 March 2007 March 2007 February 2007 January 2007 December 2006 October 2006 May 2006
€ 1.2bn
€ 365m € 555m
€ 275m € 35bn € 1,280m € 2bn € 200m € 500m Senior Refinancing
Senior and Subordinated Senior and Second Lien
Term Loan Facility Term Loan Facilities Acquisition Financing TL & RCF Term Loan Facility Term Loan Facility Facilities
Facilities Credit Facilities
Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner
Sole Bookrunner Bookrunner
April 2006 April 2006 March 2006 December 2005 December 2005 November 2005
€ 300m € 750m € 550m € 250m € 500m € 5bn
Revolving Credit Facility Revolving Credit Facility TL & RCF TL & RCF TL & RCF Revolving Credit Facility
Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner
The role of Bookrunner always entails the status of Mandated Lead Arranger
9Syndicated loans – increasing international presence
June 2013 June 2013 June 2013 June 2013 June 2013 May 2013 April 2013 March 2013 February 2013 January 2013 January 2013
€ 1.25bn € 70m
Guarantee backing an US$13bn US$14.6bn € 1,100m € 1,250m € 480m € 4.5bn
£3.3bn
€400m EIB financing Senior and Subordinated €3.3bn Multicurrency Term and Senior Add-on Forward start facility of
Revolving Credit Acquisition Financing Debt Acquisition Revolving Facilities Revolving Credit Facility Senior Refinancing Term and Revolving
Facilities Acquisition Financing Acquisition Facility Telefonica S.A. Facilities Credit Facility
Financing
Mandated Lead Arranger Coordinator, MLA and syndicated financing Mandated Lead Arranger
Co-Arranger Participation Participation Arranger Participant Arranger Mandated Lead Arranger
Bookrunner and Bookrunner
December 2012 December 2012 November 2012 October 2012 June 2012 February 2012 October 2011 June 2011 July 2011 June 2011 June 2011
Red & Black
Holding GmbH Kinove
Holding company of (Evonik - CarbonBlack)
HUGO BOSS € 1,100m
USD 700m € 2.9bn € 1.8bn
€ 840m £405m
Refinancing € 300m € 3.5bn € 581.5m € 3.3bn € 900m $ 250m Multicurrency
Refinancing Facility Refinancing Acquisition Financing
Revolving Credit Facility Refinancing Facilities Credit Facilities Credit Facilities Acquisition Facilities Super Senior RCF Refinancing Facilities
Mandated Lead Arranger
and Bookrunner Arranger Lead Arranger Arranger Mandated Lead Arranger Bookrunner Mandated Lead Arranger Mandated Lead Arranger Bookrunner Mandated Lead Arranger Mandated Lead Arranger
June 2011 June 2011 March 2011 February 2011 February 2011 January 2011 January 2011 April 2011 December 2010 December 2010 December 2010
$ 1.2bn
€ 650m € 380m € 6bn € 735m € 655m € 2.5bn £ 230m € 7.5bn € 675m € 1bn Senior Secured Credit
Refinancing Facilities Refinancing Facilities Refinancing Facilities Refinancing Facilities Acquisition Financing Refinancing Facilities Refinancing Facilities Acquisition Facilities Senior Credit Facilities Term Loan Facility Facilities
Mandated Lead Arranger Mandated Lead Arranger Bookrunner Bookrunner Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Bookrunner Mandated Lead Arranger
November 2010 August 2010 August 2010 July 2010 July 2010 July 2010 June 2010 June 2010 June 2010
October 2010 August 2010
£ 300m € 1.5bn £ 625m € 550m € 500m € 2.6bn € 500m € 1.2bn € 450m € 400m
CHF 1.1bn
Acquisition Facilities Acquisition Financing New Class B Facility Refinancing Facilities Add-on Facility Refinancing Revolving Credit Facility Refinancing Facilities Refinancing Facilities Refinancing Facilities
Acquisition Financing
Mandated Lead Arranger Bookrunner Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Bookrunner Bookrunner Mandated Lead Arranger
Mandated Lead Arranger
May 2010 April 2010 April 2010 April 2010 April 2010 March 2010 March 2010 March 2010 March 2010 March 2010 December 2009
€ 2.5bn £100m € 3bn € 2.5bn $ 300m £ 530m € 2.5bn $ 13bn € 4bn € 3.9bn € 1.2bn
Refinancing Facilities Refinancing Facilities Refinancing Facilities Refinancing Facilities Term Loan Refinancing Revolving Credit Facility Revolving Credit Facility Refinancing Term Loan Facilities Term Facilities Refinancing
Mandated Lead Arranger Bookrunner Mandated Lead Arranger Bookrunner Bookrunner Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger Mandated Lead Arranger
October 2009 June 2009 June 2009 February 2009 November 2008 August 2008 August 2008 August 2008 June 2008
€ 690m € 8.7bn € 2.5bn € 4bn Value undisclosed € 1,250m € 268m € 970m € 850m
Acquisition Financing Refinancing Facilities RCF Forward Start Facility Structured Financing Acquisition Financing Senior Credit Facilities Acquisition Financing RCF
Bookrunner Mandated Lead Arranger Bookrunner Mandated Lead Arranger Bookrunner Bookrunner Bookrunner Bookrunner Bookrunner
The role of Bookrunner always entails the status of Mandated Lead Arranger
10Capital Markets
Mediobanca’s capital markets products and structuring expertise is based in London and Milan
Credit and Alternatives
Equity Solutions Structured Credit Leverage Finance
solutions
Merger & Acquisition related Financial investments CLOs Coverage of private equity
transactions Capital Balance sheet CLOs funds
Stake building Fund raising High grade CDOs Syndication and origination of
Single stock hedging Retail products SMEs CLOs leverage loans in Northern
Yield enhancement Principal investments Placement of funds purchasing Europe
Mediobanca and insurance Emerging market asset with ABS techniques
capital Restructuring of structured
Structured equity finance products portfolios
High net worth individuals CFOs
Corporate principal
Rates Trading
investment
Treasury shares management
Flow business Government Bond
Investor Marketing Interest Rates and Inflation
swaps
Option on IRS and Bonds
Exotic Interest Rates
Instruments
Equity Research
Coverage of almost 100 Italian
Credit Trading
listed companies
Coverage of pan-European
financial institutions with a
CDS single name and indexes
Team of 8 professionals,
ABS
including 2 specialist sales
Back-to-back instruments
11ECM & DCM recent transactions
ECM
2013 2013 2013 2012 2012 2012 2011 2010 2010 2010 2010
€ 379m € 37m
ca. €16m € 185m € 245m ca. € 9m € 174m € 2,466
€ 281m IPO € 233m € 51m IPO
IPO (shares)
ABO IPO (shares) IPO
ABO (shares) (shares) ABO (shares) ABO (shares)
ABO ABO (shares)
(shares) (shares) (shares) (shares)
Joint Global Joint Global Joint Global Coordinator,
Coordinator, Coordinator, Joint Bookrunner and Joint Global Coordinator,
Joint Global Coordinator and Joint Bookrunner and Joint Bookrunner and Sponsor Joint Bookrunner and Sponsor Global Coordinator,
Sole Bookrunner Joint Bookrunner Sponsor Joint Bookrunner Sponsor Joint Bookrunner Sole Bookrunner Sole Bookrunner Bookrunner and Sponsor
2010 2010 2010 2009 2009 2008 2007 2007 2007 2007 2007
€ 4m € 429m € 38,5m € 151,51m
€ 120.3m € 210m € 414m
€ 21m € 89m € 8m
€ 25m IPO IPO IPO
IPO IPO ABO (shares) (shares) IPO
ABO (shares) IPO (shares)
ABO (shares) (shares) (shares) (shares)
(shares) ABO (shares)
(shares) Global Coordinator,
Global Coordinator Bookrunner and Listing Global Coordinator, Sole Joint Global Coordinator, Global Coordinator,
Joint Joint Global Coordinator, Joint Global Coordinator, Sole bookrunner Joint Bookrunner and Sponsor
Sole Bookrunner Joint and Partner Joint Bookrunner and Sponsor Bookrunner and Listing Partner Bookrunner and Sponsor
Bookrunner Joint Bookrunner and Sponsor Bookrunner
Bookrunner
DCM
September 2013 September 2013 July 2013 July 2013 May / June 2013 May 2013 May 2013 April 2013 April 2013 April 2013 March 2013
Exchange GBP LT2 due 2018 € 1,000,000,000 € 750,000,000
vs new GBP senior due 2018 US$ 35,000,000 € 750,000,000 € 300,000,000 € 230,000,000 2.375% June 2017 Hybrid
€ 1,250,000,000 € 750,000,000 € 425,000,000 €500,000,000 New Notes issued amount: 2.736% May 2019
4.25% Senior Notes
Hybrid 3.125% September 2020 8.5% August 2020 4.375% January 2021 GBP 170,082,000 3mE+87bps January 2016 3.875% April 2018
Amortising due 2025 € 500,000,000 7.750% March 2073
6.5% January 2074
3.375% January 2021
Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Lead Dealer Manager Arranger Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner
March 2013 March 2013 February 2013 January 2013 January 2013 January 2013 December 2012 November 2012 November 2012 November 2012 November 2012
US$ 50,000,000 € 250m tap € 400m € 350m
€ 300,000,000 € 400,000,000 € 750,000,000
€ 1,250,000,000
€ 1,250,000,000 € 700,000,000 € 750,000,000 2.000% November 2015
3,375% Senior Unsecured 4.00 % Senior Unsecured Fixed/Floating
4.25% March 2019 6.25% Senior Notes 4% Senior Unsecured 6.125% November 2019
due January 2018 due July 2015 Senior Dated Subordinated
6.625% March 2018 Amortising due 2023 5.200% January 2028 due November 2014 € 750,000,000
Notes Due December 2042 4.500% November 2019
Joint Bookrunner Joint Bookrunner Joint Bookrunner 3.500% February 2020
Joint Bookrunner Joint Bookrunner Arranger Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner
Joint Bookrunner Joint Bookrunner
12Risk Management Activities
Chief Risk Officer
Responsible for monitoring and reporting risks to the CEO
Provides leadership, vision and direction to the Enterprise Risk Management development and its absorption into the Bank’s culture
Credit Risk Market Risk Risk Management Operational Risk
Management Management London – Risk Projects Management
Counterparty Monitoring and Risk oversight of Measuring and
analysis and credit reporting of market trading activities in monitoring of risks
and market related exposures MB London branch deriving from
assessment of Liquidity risk internal processes,
transactions management people, systems
Rating advisory and external events
Independent
validation of Front
Office derivatives
pricing models
Portfolio monitoring and stress testing
Enterprise Risk
ICAAP – Internal Capital Adequacy Assessment Process
Management
Internal rating system validation
13S.I.S. - Struttura Integrata di Servizi
Corporate & Lending &
Corporate Capital Mediobanca
Investment Structured
Finance Markets Securities
Banking Finance
Struttura Integrata di Servizi
Organization
Middle Office Information Technology Back Office
Demand Management
Key Tasks Key Tasks Key Tasks Key Tasks
Operations Services Demand Management System integration Cash/securities account
Fidi, Garanzie Project Management Software development Settlement
Financial Markets Procedures & policies Interface Complaints
Support customer/vendor Credits and Loans
Specific area of expertise Derivatives
Specific area of expertise Process reengineering Specific area of expertise
Business strategy Technology IT and TLC Specific area of expertise
Process analysis Support in development Process analysis Business administration
of new capital markets Structured approach Process analysis
products
Analysis of requests of
changes in the
information system
14Profiles required
Corporate Finance Capital Markets Operations
Lending & Structured Finance
Studies Studies Studies
business, finance, economics business, finance, economics business, finance, economics
management engineering management engineering engineering , physics
statistics, mathematics, physics computational sciences
Languages
english Languages Languages
french, spanish, german english english
french, spanish, german
Specific area of expertise Specific area of expertise
financial accounting Specific area of expertise business strategy
corporate valuation financial mathematics financial mathematics
business law econometrics process analysis
financial markets & products technology
Values
15Why Mediobanca?
Mediobanca is the leading investment bank in Italy and History of
success
one of the most important players in the European
arena
Our people are our most valuable asset. We all share
Leadership Culture
the culture, ethical principles and the pride that
helped the Bank achieve 65 years of success
Working at Mediobanca means working in a fast and
flexible environment where confidentiality is a
treasured value
Because of our flat hierarchical structure, new joiners
can benefit from working side by side with senior and Sustainable
business Training
experienced professionals to maximise their growth at model
such an early and fundamental stage of their careers
We always take a 360° approach to our clients with Innovation
the goal of constantly addressing their needs in the and
medium-long term and to work hard to maintain their flexibility
trust
16Mediobanca’s 1st Junior Talent Program
months 3 6 9 12 15 18 21 24
Internship Junior Talent Program (JTP)
Skills and interests Skills and
identification knowledge enhacement
--------------------------- ----------------------------------------------------------------
Italy or Abroad Country / Team rotation
Sponsor Team Sponsor Team + Host Team
Who is eligible?
Outstanding interns who have successfully concluded a 6 months internship
What about the program content?
The program is tailor-made: Country/team rotations will be planned to match the individual's skills & interests to the Bank’s
business needs
What do I have to do to apply?
Just apply to our year-round internship openings by sending your cv
What happens next?
If you have been successful during the JTP and have enjoyed your time with us, on the basis of the openings you will be
assigned to your new team
17Marco market risk management
Età: 29 GIORNATA TIPO
Formazione: Laurea in
Ingegneria Gestionale Monitoraggio dei Studio di fattibilità
(Politecnico di Milano) principali indicatori di nuovi prodotti
Master post lauream in Finanza
Quantitativa e Risk
Management (Università
Bocconi)
8.00 11.00 13.00 15.00 20.00
In Mediobanca da: Luglio 2008
Supporto tecnico alle decisioni del top management
COMPETENZE di uso frequente PROGETTI RILEVANTI A CUI HO PARTECIPATO
Tecniche: conoscenza dei principali modelli di pricing e Implementazione di una nuova metodologia per il
di risk assesment, analisi funzionale calcolo dell’esposizione al rischio controparte ed
Informatiche: programmazione in VBA emittente sul trading book
Lingue: Inglese, Spagnolo Sviluppo di metriche di valutazione del rischio di nuovi
Personali: capacità di lavorare in team prodotti/business
PERCHE’ MEDIOBANCA
Possibilità di lavorare in un team giovane ed in un contesto in continua evoluzione
18Maria equity derivatives trading
Età: 25 GIORNATA TIPO
Formazione: Laurea
Triennale e Specialistica in Attività di pricing, hedging Briefing di
Economia dei Mercati e degli e trading sui mercati aggiornamento
Intermediari Finanziari
(Università Bocconi)
In Mediobanca da: gennaio 8.00 11.00 13.00 15.00 20.00
2011
Operazioni di chisura
COMPETENZE di uso frequente PROGETTI RILEVANTI A CUI HO PARTECIPATO
Tecniche: modelli di pricing di prodotti derivati e Emissione di prodotti strutturati
strutturati
Sviluppo di modelli di pricing per opzioni esotiche
Lingue: Inglese, Spagnolo
Personali: capacità di lavorare sotto pressione e di Gestione del portafoglio indici
prendere decisioni in situazioni di stress
PERCHE’ MEDIOBANCA
Possibilità di lavorare in una realtà dinamica, con forti possibilità di crescita, a contatto con figure professionali altamente
competenti
19Cristiano middle office
Età: 30 GIORNATA TIPO
Supporto al FO ed alle Controlli ed analisi delle
Formazione: Laurea Triennale in strutture di staff reportistiche funzionali alle
Economia Aziendale e Specialistica in varie funzioni di supporto della
Amministrazione, Finanza e Controllo sala mercati
(Università Bocconi)
In Mediobanca da: ottobre 2006
8.00 11.00 13.00 15.00 20.00
Presidio di primo livello sulle operazioni OTC inserite nel sistema di
FO, mediante uno specifico workflow, atto a favorire il corretto
recepimento dei trade nei sistemi e nelle reportistiche a valle
COMPETENZE di uso frequente PROGETTI RILEVANTI A CUI HO PARTECIPATO
Tecniche: conoscenza e comprensione dei prodotti Supporto al FO ed alle strutture di staff
finanziari e delle implicazioni derivanti per le varie Controlli ed analisi delle reportistiche funzionali alle
funzioni della banca varie funzioni di supporto della sala mercati
Lingue: Inglese, Spagnolo Presidio di primo livello sulle operazioni OTC inserite
Personali: capacità di lavorare in team e di gestire le nel sistema di FO, mediante uno specifico workflow,
attività nelle tempistiche stringenti dettate dal mercato atto a favorire il corretto recepimento dei trade nei
sistemi e nelle reportistiche a valle
PERCHE’ MEDIOBANCA
Possibilità di lavorare in una realtà dinamica e altamente formativa, con forti possibilità di crescita e di apprendimento
20Chiara M. leveraged finance
Età: 30 PRINCIPALI ATTIVITA
Formazione: Laurea in Economia Analisi del pacchetto di due diligence legato alla nuova
Aziendale con specializzazione in opportunità di finanziamento
Finanza aziendale (Università Implementazione del modello finanziario volto a testare la
Bocconi) debt capacity del nostro potenziale borrower
Incontri con il cliente e/o fondo di private equity acquirente
In Mediobanca da: dicembre della società target
2005
Stesura del credit memo da sottoporre al comitato rischi
Review assieme al nostro legal advisor, di tutta la
documentazione legale relativa al nuovo deal
COMPETENZE di uso frequente PROGETTI RILEVANTI A CUI HO PARTECIPATO
Tecniche: implementazione di modelli finanziari per Strutturazione del finanziamento di acquisizione di
operazioni LBO; conoscenza degli standard contrattuali Findus da parte di Bird' s Eye Iglo, il leader europeo dei
per finanziamenti di leveraged buy out surgelati che fa capo al fondo di private equity Permira
Lingue: Inglese, Francese Strutturazione del finanziamento legato all’offerta
Personali: attitudine a lavorare sotto pressione, pubblica di acquisto da parte di Generali su azioni Toro
proattività , team worker Assicurazioni
PERCHE’ MEDIOBANCA
Possibilità di essere in un contesto di rilievo all’interno del mercato italiano, dove tra l’altro si è seguiti in maniera
strutturata nel proprio percorso di crescita professionale
21Chiara A. debt capital markets
Età: 26 GIORNATA TIPO
Check Bloomberg Incontri interni di
Formazione: Laurea Triennale per aggiornamento brainstorming
in Economia Aziendale e sul mercato
Laurea Specialistica in
Amministrazione Finanza e
Controllo (Università Bocconi)
In Mediobanca da: giugno 2010
8.00 11.00 13.00 15.00 20.00
Predisposizione di presentazioni/incontri con i clienti
COMPETENZE di uso frequente PROGETTI RILEVANTI A CUI HO PARTECIPATO
Tecniche: Bloomberg, modelli su excel per simulare Emissioni di bond
l’impatto sulla struttura economico-finanziaria delle società
di varie soluzioni di finanziamento e power point Sviluppo di modelli per simulare l’impatto sulla struttura
Lingue: Inglese economico-finanziaria di varie soluzioni di finanziamento
Personali: capacità di lavorare sotto pressione rispondendo a
Attività di consulenza finanziaria
tutte le richieste con la massima rapidità e precisione
PERCHE’ MEDIOBANCA
Possibilità di lavorare con le principali società europee sentendosi un “market-maker”, in una realtà dinamica, a contatto
con figure professionali altamente competenti
22Contacts
Mediobanca S.p.A.
Human Resources
Piazzetta E. Cuccia, 1 – 20121 Milan
Tel: +39 02 8829 1
Fax: + 39 02 8829 267
E-mail: risorse.umane@mediobanca.it
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