CIC Market Solutions, which is a partner for business leaders and has close links to investors and shareholders, supports Crédit Mutuel Alliance Fédérale's corporate clients in raising funds via issuing bonds. Our solutions are aimed at companies of all sizes, from very large companies, most of which are rated, to mid-sized companies, whether listed or not.
Take three minutes to discover our Debt Capital Markets offer with Antoine Desplanques, head of DCM! (in French only)
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- What is DCM in a nutshell?
We help companies, more specifically Crédit Mutuel Alliance Fédérale's corporate clients, raise capital through bonds. We work with very large companies, most often rated, as well as listed and unlisted mid-sized companies, in raising funds in euros.
- Our solutions
We handle syndicated benchmark transactions targeting a broad range of large European investors, as well as private placements that are often placed with domestic investors.
Products run the gamut from ‘plain vanilla’ bonds with light documentation requirements to more sophisticated securities that can provide access to equity capital, such as convertible bonds.
Structured products can also meet the needs expressed by both issuers and investors, for example to improve a company’s risk profile by issuing hybrid securities in order to bolster shareholders’ funds, or to respond to investors’ constraints through the granting of securities. They can also be employed in cases where an issuer has pledged to respect financial covenants.
- Our value added
A bond issue encompasses various components, all of which must be orchestrated to ensure that the transaction is a success.
- A legal component, which primarily concerns the deal’s documentation;
- An advisory component, which involves, among other aspects, the timing of the transaction as well as its nature, size, pricing, and the investor base targeted;
- A marketing component that aims to prepare the issuer for interaction with investors; the placement itself with investors by traders on the trading floors, possibly in coordination with the syndicate of banks in charge of the transaction; and the creation of securities with a view to settlement-delivery. Logistical management is also very important for each of these stages.
Our added value is to oversee the sequencing of all these stages, to ensure that we are perfectly mobilised to optimise the issue conditions for our clients, in coordination with the Crédit Mutuel Alliance Fédérale networks.
The added value is also evident in the after-sales service, by fostering trading throughout the lifespan of the securities issued via our Market Making activity, as well as the contact that we organise between investors and issuers.
- Could you sum up the DCM offer in a few words?
We carry out about forty transactions per year, 44 in 2021.
We manage transactions of varying degrees of complexity tailored to our clients' situations. We are involved in fundraising transactions ranging from €15m to several billion euros, either on our own or as part of a syndicate.
We are committed to helping Crédit Mutuel Alliance Fédérale's clients, but also Crédit Mutuel Alliance Fédérale itself in order to support its refinancing transactions.