Millennium investment banking

Millennium investment banking
September 2016
Banco Comercial Português Group
Millennium investment banking
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BCP Group
Since its foundation…
2011 – …
2005 – 2010
2000 - 2005
1995 - 2000
1985 - 1995
Foundation and
organic growth to
become a relevant
player
Development in
Portugal through
acquisitions and
partnerships
Leadership in Portugal
in order to expand in
Poland and Greece
International
expansation
consolidation and
creation of a single
brand
Restructuring process
involving the
divesture in nonstrategic assets:
Refocus on
Portugal and Poland
and affinity markets
Mozambique and
Angola
… to leadership in Portugal and a strong international footprint
through growth in affinity retail markets
3
BCP Group
2015
Germany
439
Luxemburg
United Kingdom
France
Canada
• Customers
5.5 m
• Total
Assets
€ 75 b
1
Spain
671
China
Portugal
Macao
USA
1
Venezuela
Angola
90
Brazil
• Net
Income
€ 235 m
• Core equity
Tier I
13.3%
• Branches
1,342
• Employees
17,183
Mozambique
Branches/ Banks
169
Representative offices
Commercial protocols
• Total
Customer Funds € 66 b
South África
Austrália
Commercial promoter
Transference agreement
4
Banco Comercial Português Group
Millennium investment banking
5
Who are we

Largest privately owned
Portuguese bank

Strong presence in
core markets
 A bank with a 30-year growth
story
 Forth largest bank in Poland in
deposits and loans
 Strategic focus on affinity
markets: Mozambique/Angola –
Brazil - Macao/China
 Market leader in Mozambique
 Significant and growing presence
in Angola
 Strategic partnership with state
related entities in Mozambique
and Angola

Financial advisory expertise
 Significant track record in
Corporate finance, Structure
Finance and Capital Markets,
namely in the infrastructure and
energy sectors in Europe, Africa
and Latin America

 Dedicated and experienced team
 Several deal of the year awards
in Project Finance transactions
 International standards of
excellence
 In depth local knowledge of
Mozambique and Angola
 Team benefitting from both
investment banking expertise
and a strong local knowledge
Global relationship with key
investors and funding providers
 Participation in several
transactions with multilaterals,
DFIs and ECAs
 Strong relationship with
relevant key institutional
investors and funding providers
 Innovative funding structures
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Our Ambition / Mission
Our mission is to project Millennium investment banking as a reference in our core markets
• To be a reference partner to our customers
• Potentiate the strong position of Millennium bcp in the Corporate and Large Corporate segments
• Reinforce Millennium bcp presence in its core markets
• Leverage the Team competences and market knowledge (market intelligence)
• Contribute to the consolidation of Millennium bcp image
Millennium investment banking
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Strategic focus in afinity markets
Refocusing on affinity
markets through the
strategic diamond
Portugal –
Mozambique/Angola –
Brazil – China
PORTUGAL and EUROPE
CHINA
Leadership in Portugal
Macao full branch is a bridge to
to projects in Portuguese
speaking countries
BRAZIL
ÁFRICA
Strong relationship
with Brazilian
investors
Partnerships with
Sonangol and the
Mozambican state
Growth platform sustaining the
leadership position in
Mozambique and the expansion
drive in Angola
8
Millennium investment banking: scope and organization
Investment Banking Framework
Millennium bcp covers
investment banking
Millennium bcp
commercial areas
International
banking operations
Millennium investment banking
Origination Areas
Portugal
Product Areas
Corporate Banking
Project Finance
Desk Portugal
Sovereign Wealth
Funds
Millennium bim
(Mozambique)
Domestic
Private Banking
Corporate Finance
Desk Mozambique
International
Institutional
Investors
Millennium Atlântico
(Angola)
International
Private Banking
Structured Finance
Desk Angola
Multilaterals &
DFIs
Millennium Bank
(Poland)
Desk Brazil
ECAs
Millennium bcp
(other geographies)
transactions through:
(i)
geographic origination
teams (Desks)
(ii) international
origination team with
key funding providers
(iii) specialized product
teams
(iv) local investment
banking teams in core
International
Department
(worldwide banking network)
Capital Markets
institutional investors
Equity
Debt
Desk Asia
markets
Cooperation with leading local institutions focused on projects
sourcing, investors sourcing and funding providers
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Corporate Finance

Delivers financial advisory to:
 Corporate evaluations
 Mergers & Acquisitions

Well established experience in Portugal and other core markets

All economic and financial sectors activity

Extensive contact network
Seasoned, committed and multissetorial Corporate Finance team
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Corporate Finance
Credentials
Energy & Gas
Disposal of 50%
of EDP Asia
(100% participated by
CEM)
Disposal of 49%
of EDPR Portugal
2014
2012
Financial advising
Propane Gas Sector
Financial advising to
the new regulatory
framework for the gas
sector in Portugal
2010
2008
€ 359 million
Evaluation
Evaluation
Evaluation
Disposal of 50% of
2012
2011
2011
2011
2011
Disposal of
Initial Public
Offering
€ 1,567 million
Enersis acquisition
Relax Wind Park
acquisition
Disposal of
BIOVEGETAL
€ 140 million
2008
Financial Advisor
Global Coordinator
2008
€ 1,150 million
Financial advising to
Magnum Capital
2008
Wind Park Portfolio
(1,022 MW)
Financial Advising
2007
11
Corporate Finance
Credentials
Infrastructure & Construction
Motorway concession
Acquisition of a
participation in BCR SGPS
€ 770 millions
Evaluation of
Grupo Insitec
(Mozambique)
Capitalization process
of
Privatization of
Sole Adviser
2015
2014
2013
2012
Financial Advisory to
Monte SGPS
Financial Advisory
Financial Advisory
Financial Advisory
2010
2009
2009 / 2008
Public Acquisition Offer
Global Coordinator
Financial Advisory
Shareholder capital
rearrangement
CONSTRUÇÃO, SGPS
Acquisition of 50% of
Monte Adriano SGPS
2010 / 2009
Evaluation of
2012
2012
Financial Advisory
Financial Advisory
Acquisition of a
participation in
Scutvias
Acquisition of a
participation in CPE
2008/2007
2008/2007
2010
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Corporate Finance
Credentials
Other
Evaluation and Advisory
Disposal
of
Financial Advisory
Disposal
of
Evaluation
Evaluation
Financial Advisory
Reinforcing Capital
Millennium Gestão de
Activos
2014
2014
Millennium Bank
(Greece)
Dierre Ibérica
2013
2013
2012 / 2010
2012
2012
Financial Advisory
Financial Advisory
Disposal
of
Evaluation
Financial Advisory
Shareholder capital
rearrangement
On the
Public Acquisition Offer
launched by CSN
Millennium Bank AS
(Turkey)
Testa &
Cunhas
Evaluation
Financial Advisory
2013
2011
2010
2010
2010
Financial Advisory
Financial Advisory
Merger
Financial Advisory
Financial Advisory
2010 / 2009
2008
2008
2008/2007
€ 15.5 million
2010
2010
(Eletronics division)
2010
13
Structured Finance

Structured Finance operations involve analysis, structuring, proposal, organization and execution of
medium and long term financing:
 Advisory to corporate and project funds sourcing
 Investment Financing
 Syndicated loans in different geographies
 Portfolio management
 Support to Millennium bcp commercial departments, monitoring, managing and restructuring large
credit exposure
 Financial restructuring and loans consolidation
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Structured Finance
Credentials
Revolving Credit
Facility
EGF Restructuring
€ 3,150 million
Lead Arranger &
Bookrunner
Acquisition Finance
Grupo Visabeira/
Vista Alegre Atlantis
Restructuring
€ 42.5 million
€ 45 million
Lead Arranger & Agent
2011
Lead Arranger & Agent
2011
Lead Arranger
2009
Biomass Co-generation
Plant Construction
Syndicated Loan
Properties and Olive
Plant Acquisition
€ 88.5 million
€ 116 million
2014
2012
Acquisition Finance
Acquisition Finance
USD 2,250 million
€ 98 million
€ 450 million
Lead Arranger
2009
Acquisition
of
Lusoponte participation
€ 1,600 million
Arranger
2008
Lead Arranger
2009
Lead Arranger
2008
Lead Arranger
2008
Acquisition Finance
Bridge Loan
5* Tivoli Victoria Hotel
Construction and
Development
Acquisition
Carrefour Portugal
USD 270 million
€ 40 million
€ 144 million
€ 150 million
USD 3,000 million
Lead Arranger
2008
Lead Arranger
2008
Lead Arranger
2007
2007
Lead Arranger
2007
PECÉM
Acquisition Finance
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Project Finance

Millennium investment banking has a long standing
Mib Project Finance international awards
experience and a strong track record in Project Finance,
leading projects in Portugal and abroad, in sectors
ranging from motorways and large infrastructure to
power and other utilities like renewable energies

With
industry
focus
and
tailor
made
solutions,
European Toll Road
Deal of the Year
2004 Brisal
Millennium investment banking provides Project Finance
in-depth knowledge covering:
Europe Renewable Wind &
Hydro Deal of the Year
2006
Enersis Porfolio Financing
EMEA Renewable
Deal of the Year
2006 Enersis
Infrastructure Journal Online
Global Energy Refinancing Magazine
 Advisory
 Structuring, Arranging and underwriting
Global Portfolio
Deal of the Year
Global Deal of the Year
Renewable Energy Project
Financing of the Year
 Portfolio management

Millennium investment banking Project Finance team has
extensive experience and led and participated in most of
the big projects in Portugal since 1990 and abroad since
2004
PECEM 1
Latin American
Power Deal of the Year
2010
Relax Wind Park I
Best Sustainability Award
2010
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Project Finance
Credentials
Relax Wind Park
Pisco Wind farm
Meroicinha II
Wind farm
Hammer
Repowering
Project Finance
Project Finance
Project Finance
Project Finance
Project Finance
€ 50.05 million
€ 11.7 million
€ 10 million
€ 208.75 million
PLN 535 million
Lead Arranger
Lead Arranger
Lead Arranger
Lead Arranger
Financial Advisor
2011
2011
2010
2010
PECÉM I Coal Plant
Project Finance
Tychowo Wind Farm
BRL 1,410 million
USD 327 million
Lead Arranger
PLN 290 million
€ 58 million
2014
Refinancing of Road
Concession
Project Finance
Financial Advisory
Wind Farm
Portfolio funding
Project Finance
€ 66.7 million
Project Finance
Mandated Lead Arranger
Financial Advisor, MLA,
Security Agent
€ 476 million
Lead Arranger
2010
2010
2010
€ 100 million
Wind Farm
Portugal
Motorway Concession
Bridge Loan
Project Finance
€ 1,062 million
PECÉM
€ 763 million
Lead Arranger
Lead Arranger
2009
2008
USD 270 million
Toll Road refinancing
Wind Farm in Poland
Project Finance
Lead Arranger
2009
2009
Toll Road
CCGT
Project Finance
€ 1,201 million
Project Finance
€ 558 million
Lead Arranger
Financial Advisor & Lead
Arranger
Lead Arranger
2008
2008
2008
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Project Finance
Credentials
Global Refinance
Additional Facilities
Germany, Australia,
Spain, and USA
Project Finance
Wind Park financing
Project Finance
Auction for tunnel
concession
Refinancing of Wind
Portfolio
Project Finance
SCUTVIAS
Motorway concession
Project Finance
€ 746 million
€ 1,030 million
MLA & Joint Bookrunner
€ 325 million
€ 469 milion
€ 235 million
Lead Arranger
Financial Advisor
Lead Arranger
2007
2007
2007
2007
Submerged tunnel in
Salonica, Greece
Construction of Container
Terminal in Gdansk,
Poland
Coal Fired Power Plant
Urban Solid Waste
Project Finance
Project Finance
Project Finance
Project Finance
€ 456 million
€ 100 million
€ 646 milion
€ 178 million
Lead Arranger
Arranger
Lead Arranger
Lead Arranger
Financial Advisor &
Lead Arranger
2006
2006
2006
2005
2006
LNG Terminal
Aluminum Smelter in
Maputo, Mozambique
Coal Fired Power Plant
990 MW CCGT
Project Finance
Project Finance
Project Finance
Project Finance
€ 219 million
USD 150 million
(ECA backed)
€ 1,600 million
€ 557 million
Lead Arranger
Motorway concession
Project Finance
€ 575 million
Financial Advisor &
Lead Arranger
2004
Co-Arranger
2001
Co-arranger
2001
Lead Arranger
1997
Financial Advisor &
Lead Arranger
2006
Auction for shadow
toll motorway
€ 469 million
1996
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Capital Markets – Equity

Leadership in capital markets equity segment

Market recognition by the most prestigious international institutions through several
awards granted, including the global coordination of the most internationally
awarded Portuguese equity offering (Brisa 2)
Proven capabilities and expertise in structuring and executing equity offerings:

Leader of the largest Portuguese equity transactions

Global Coordination of most of the Portuguese privatizations

Sole Lead Manager of the largest combined acquisition tender offer ever executed in
Portugal (which included a capital increase of ca. € 4 billion)

Sole Lead Manager of the first mandatory convertible securities ever issued in
Portugal – Capital BCP 2005

Execution of equity placements through accelerated bookbuildings

Rights issue coordinator of Millennium bcp € 2.2 billion rights issue executed in 2014,
the largest transaction of its kind ever executed in Portugal

Advisory in takeover transactions
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Capital Markets - Equity
Credentials
Accelerated Bookbuilding
Capital Increase
Rights Issue
Accelerated Bookbuilding
Accelerated Bookbuilding
IPO
IPO
€ 249 million
€ 112 million
€ 2,242 million
€ 303 million
€ 159.5 million
€ 149.8 million
€ 579 million
Joint bookrunner
Joint bookrunner
Coordinator
Joint bookrunner
Joint bookrunner
Co leader
Co leader
2015
2014
2014
2014
2014
2013
Rights Issue
Public Exchange Offer
132 million shares
2014
Rights Issue
Acquisition Tender Offer
Acquisition Tender Offer
Capital Increase
Combined Offer
Capital Increase
Preferred Shares
€ 500 milion
€ 705 million
€ 4.3 million
€ 1,370 million
€ 54.2 million
Global Coordinator
2012
Joint Global Coordinator
2012
Global Coordinator
2012
Global Coordinator
2012
Organisation and Structuring
2011
€ 18 million
Global Coordinator
2011
Global Coordinator
2010
INVESTIFINO
Acquisition Tender Offer
Rights Issue
€ 25.9 milion
Joint Global Coordinator
2010
Acquisition Tender Offer
€ 11.9 million
Joint Global Coordinator
2009
IPO
€ 1,567 million
Joint Global Coordinator
2008
Privatisation & IPO
Rights Issue
€ 348.7 million
€ 1,083 milion
Global Coordinator &
Bookrunner
2007
Rights Issue
€ 16.8 million
Coordinator
Lead Manager
2008
2007
€ 122.8 million
Global Coordinator
2007
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Capital Markets – Debt
Millennium investment banking distinctive offer:

Public and private bond offers

Commercial Paper Programs

Solid know how of the Portuguese corporate segment together with a close relationship with issuers

Extensive and segmented base of customers (issuers and investors) allows differentiated and innovative solutions

Dealer of MTN programs from national blue chips (Brisa, Cimpor, EDP, REN and Millennium bcp)
With international activity:

Prominent role in the international debt market with foreign bond issue placements to Portuguese investors and local bond issues to
international investors

Proactive sales force together with excellent networking with Portuguese, European and other international institutional investors,
potentiates bond issues placement capacity
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Capital Markets - Debt
Credentials
Brisa Concessão Rodoviária
2.5% Senior Notes
2025
1.875% Notes
2025
€ 300 milion
€ 300 milion
Joint bookrunner
Joint Bookrunner
2015
3.375% Senior Notes
2017
2015
2.625% Senior Notes
2022
Bond Issue
Public Offer
3% Senior Notes
2021
3.875% Bond Issue
2021
2.625% Senior Notes
2019
€ 20 milion
€ 500 milion
€ 300 milion
€ 500 milion
Joint Bookrunner
Joint bookrunner
Joint bookrunner
Joint bookrunner
2014
2014
2014
2014
Grupo Teixeira Duarte
Impresa Publishing
EDP FINANCE B. V.
Celbi
Commercial Paper
Program
Commercial Paper
Program
2.625% Notes
2019
Commercial Paper
Program
€ 500 milion
€ 1,000 milion
€ 55 milion
€ 11 milion
€ 650 milion
€ 100 milion
Joint bookrunner
Joint bookrunner
Organisation and Structuring
Organisation and Structuring
Joint Bookrunner
Organisation and Structuring
2014
2014
2014
2014
2014
2014
Grupo Barraqueiro
BA Vidro
Commercial Paper
Program
Commercial Paper
Program
Commercial Paper
Program
Bond Issue
Public Offer
Bond Issue
2016
Bond Issue
Public Offer
€ 10 milion
€ 10 milion
€ 10 milion
€ 45 milion
€ 175 milion
€ 175 milion
Joint Bookrunner
Joint Lead Manager
Joint Bookrunner
NabeiroGest
Organisation and Structuring
Organisation and Structuring
Organisation and Structuring
2014
2014
2014
2013
2013
2013
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Our contacts
MILLENNIUM
INVESTMENT BANKING
André Navarro
DESK ANGOLA
Rogério Araújo
DESK ASIA & DESK BRAZIL
João Teixeira Abreu
DESK PORTUGAL
LARGE CORPORATE
Bárbara Ferreira
CORPORATE FINANCE
Nuno Soares
PRODUCT UNITS
ORIGINATION UNITS
INSTITUTIONAL
INVESTORS & DESK MOZ
Joaquim Cavaco
STRUCTURED FINANCE
Nuno Salgado Santos
PROJECT FINANCE
Sérgio Santos
CAPITAL MARKETS
Cristina Andrade
DESK PORTUGAL
CORPORATE
Pedro Oliveira
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Disclaimer
This presentation was prepared by Millennium investment banking. The content herein is strictly confidential and this presentation cannot be
reproduced, distributed or published by the recipient or used for any purpose whatsoever without the prior written consent of Millennium investment
banking.
Although the information contained in this presentation was obtained from sources deemed reliable, Millennium investment banking cannot guarantee
its accuracy and truthfulness.
Millennium investment banking is not responsible for any direct or indirect losses or reduced profits that may result from the use of the information
contained herein.
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Millennium investment banking
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