DEG: We finance opportunities.
Transcrição
DEG: We finance opportunities.
DEG: We finance opportunities. Financing opportunities through KfW Group in the Health Care Sector Ernesto García - Senior Investment Manager Mexico, D.F. November 2015 Agenda 1) DEG and the KFW Group 2) Products we offer 3) DEG in the Health Care sector 4) Team and Contact 2 DEG at a glance Facts and Figures 2014 DEG › › › › › Established 1962 Employees 503 Company seat Cologne Shareholder KfW Frankfurt Equity EUR 2.1 billion › Balance sheet EUR 5.3 billion › New business › Portfolio EUR 1.5 billion EUR 7.8 billion KfW › › › › Ownership Federal Republic of Germany (80%) and the federal states (20%) Rating AAA/Aaa, 3rd largest bank in Germany Balance sheet EUR 465 billion World's Safest Bank 2014 according to “Global Finance” Magazine’s Ranking of the World’s 50 Safest Banks 3 DEG´s mandate and working method German development finance institution for the private sector In-depth sector competence in Agribusiness, Financial Institutions, Infrastructure, Manufacturing Industry, Health Services Long-term investment capital for private enterprises; marketoriented conditions Observation of international environmental & social standards Financing of investments with a positive developmental impact: Contributions to sustainable economic growth and poverty reduction Special Programmes (develoPPP, Technical Assistance) to enable/ accompany financing DEG has 50 years of experience in promoting entrepreneurial initiative through long-term funding and special programmes. 4 International activities of KFW in Mexico Objectives Providing finance, advice and support for development and climate protection programs and projects, in cooperation with governments and state institutions in developing and emerging countries Providing tailor-made long term finance to support the development of the Private Sector in Emerging Markets Providing commercial long-term finance to Mexican borrowers in the interest of German and European companies to promote their exports, and foreign direct investments to Mexico, as well as strategic imports from Mexico to Germany Economic Sectors Energy, Water, Urban mobilization, Biodiversity and climate Manufacturing & Services, Infrastructure, Agribusiness, Financial Services Manufacturing Industries, Basic Industries, Maritime Industries, (Offshore Oil &Gas), Energy Products • • • Promotional loans Development loans Grants and accompanying measures • • • Commercial long term loans Structured Finance Equity • • • Export Finance (with/without ECA) Corporate lending Project Finance • • USD 464 million 6 projects • • USD 414 million 33 projects • • USD 303 million 9 portfolio clients Example clients Portfolio More than USD 1.1 billion total KfW commitments in Mexico 5 DEG´s financial products Tailor-made finance with long-term orientation Long-term loans Mezzanine finance Equity Capital › USD 10–50m (or MXN equivalent) › USD 10–30m (or MXN equivalent) › USD 10–30m (or MXN equivalent) › Higher amounts through club deals or › Flexible structures combining › Only minority stakes; often take voting syndication desk in Germany elements of equity participation and senior loan rights and seat on board of directors › IRR according to market standards, years no fixed return threshold › IRR according to market standards, › Tenors 4 – 20 years › Fixed or variable interest rates, in Mexico exempt from withholding tax › Security in project assets; completion › A priori looking for exit after 4-10 no fixed return threshold guarantees in green-field projects DEG provides reliable, tailor-made funding options 6 Why work with DEG? Tailor-made Solutions › Equity/debt structures crafted according to project needs › Currency flexibility (EUR, USD, MXN) Global Reach, Local Presence Long-term Approach › Maturities matching your business › Investment experience in +85 countries › 10 years office presence, over 40 years experience in Mexico horizon (up to 20 years) › Financial stability from a AAA-rated institution “Seal of Quality” › DEG represents the Federal Republic of Germany › Our involvement will enhance your company profile Partnership › Developmental approach, beyond profit maximization › Technical Assistance programs 7 DEG in Mexico • DEG in Mexico: >40 years of experience, >10 years with a Representative Office. • Portfolio 31 Mar 2015: USD 381 million (Top 5 in DEG); 36 projects Current portfolio structure as of March 2015: USD 54m USD 23m Financial Sector 33% Manufacturing and Services USD 114m USD 190m Equity & Mezzanine Agriculture 67% Infrastructure Debt DEG in Mexico: Long track record, diversified portfolio, increasing role of Equity/Mezzanine 8 Selected projects (Mexico) 2014 2014 2014 2014 Duraplay de Parral S.A. de C.V. Negocio Agrícola San Enrique S.A. de C.V. KUA Mex Foods, S.A.P.I. de C.V MDF Wood Co-Generation Food & Beverage Waldo´s Dólar Mart de México, S. de R. L. de C.V. Retail Equity USD 15.5 million Equity USD 25.2 million Mezzanine Senior Loan USD 20 million 2012 2013 2011 TPP Bulk Terminal Port In Lazaro Cardenas Sowimex Lead Arranger 4 Wind Parks Senior Loan USD 34 million Equity USD 12.5 million 2012 2006 2004 2001 Beta San Miguel Co-generation etc. Senior Loans USD 54 million 2011 EMX Capital Partners LP 2014 Asofarma de México, S.A. de C.V. Farmacéutica Senior Loan USD 15 million 2008 2007 Vesta Desarrollo Inmobiliario Industrial Private Equity Fund Ind. Real Estate Equity USD 13 million Equity EUR 23.5 million 9 DEG’s investment focus What we are looking for › Long term investment projects with a developmental impact, e.g. expansion/capex, job creation, social/environmental standards (refinancing and/or working capital can be part of overall project). › Companies with a track record in their industry (i.e. no start ups) or a strong strategic partner. › Companies with a minimum level of corporate governance (e.g. audited financials) and willingness to institutionalize further. › Clients in a broad range of sectors. › German relation (sponsor, equipment etc.) welcome, but not necessary. › DEG financing usually starting at 10m USD. 10 DEG in the Health Care sector Within the Health Care sector, DEG has appetite for financing related to: 1) medical devices, pharmaceutical raw materials and pharmaceuticals 2) the construction and operation of healthcare facilities Currently, DEG is accompanying projects with a commitment of EUR 254 m as of October 2015. There are 8 additional projects being analyzed with value of EUR 135 m. 11 DEG in the Health Care sector 1) Promotion of producers of medical devices, pharmaceuticals raw material and pharmaceuticals • Rationale Access of broad population to drugs and creation of qualified jobs • Regional focus: Latin America and Southeast Asia, China and India. • DEG‘s current portfolio comprises 15 producers of raw materials and pharmaceuticals and one pharmaceutical distributor. 12 DEG in the Health Care sector 2) Promotion of health care facilities • Rationale Improved access to health care services on a supraregional level Great impacts, but also great challenges: Doctors, management and medical staff, Technology/ regulatory risks and certifications • Regional focus Asia, Latin America and Africa • DEG Current portfolio comprises 6 private hospital projects, 2 PPP project in Middle East, 1 fund for hospital financing, 2 general funds for private health care. 13 The Business Team Dr. Stefan Blum Director Representative Office Mexico [email protected] Tel.: 52 55 9172-9401 Isabel Thywissen Vice President and Sector Expert [email protected] Ernesto García Loans Corporates [email protected] Tel.: 52 55 9138-0909 Sergio Viso Equity & Mezzanine Corporates [email protected] Tel.: 52 55 2282-2948 Johannes Goderbauer Equity & Mezzanine Corporates [email protected] Tel.: 52 55 9172-9403 DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH Oficina de Representación México Arquímedes #19 Piso 4, Bosque de Chapultepec, 11580, México D.F. Phone +52 55 9172 9400 / Fax +52 55 9172 9404 www.deginvest.de DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH Kämmergasse 22, 50676 Köln, Germany Phone +49 221 4986 0000 / Fax +49 221 4986 1290 www.deginvest.de 14