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Raising Equity In Shipping Today
JOIN US FOR A COMPLIMENTARY LIVE WEB SEMINAR
 Thursday, June 4, 2009 11:00 AM EDT (4:00 PM London) (5:00 PM Paris) (6:00 PM Athens)
Listen To Our Expert Panelists Live From Your Own Desk
DURATION: 45 Minutes Followed By Q&A Session
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Presented by
Date & Time
Thursday, June 4, 2009 at 11:00 AM EDT (4:00 PM London, 5:00 PM Paris, 6:00 PM Athens).
Venue
Accessible at www.CapitalLinkWebinars.com and/or www.CapitalLinkShipping.com. This is a complimentary Webinar.
Please note that participants will have the opportunity to submit questions prior to or during the Webinar through the special Submit a Question feature on the webinar page.
The Webinar will last about 45 minutes in total, including 30 minutes of a slide presentation followed by a Q&A session of about 15 minutes.
Moderated by Nicolas Bornozis, President of Capital Link, Inc.
Overview
The shipping industry is a capital intensive industry and with bank financing becoming nowadays less available access to capital markets becomes even more important.
With the backdrop of increased market volatility, traditional methods of equity capital raising have experienced meaningful file to offer discounts. In this environment, equity capital raising alternatives that benefit from market volatility have proven to be highly effective for shipping issuers.
An ATM Equity offering (At-The-Market) is a registered sale of primary equity structured to take advantage of increased market volatility and trading volumes by tapping into existing secondary market liquidity over time.
An ATM Equity program enables issuers to:
- Use the increased liquidity environment as an asset by tapping into the regular trading flow
- Mitigate the volatility in the stock by selling equity during periods of stock price strength, and slowing / halting sales during periods of stock price weakness
- Time the offering to their needs and timetable
- Reduce or eliminate the file to offer discount on sales activity
The Webinar will feature Senior Executives from Merrill Lynch Bank of America Securities, who have successfully consummated several ATM Equity Offerings and from the law firm of Morgan Lewis & Bockius which also has extensive involvement in such offerings.
You Will Learn:
- What is an ATM Equity program?
- Applicability of an ATM Equity program versus alternatives
- Registration and Execution Mechanics
- Trading considerations associated with an ATM program
Featured Speakers:
Matthew Thomson
Director
Head of Shipping North America
Bank of America Merrill Lynch Investment Banking
Matthew is a Director in the Transportation team in New York where he runs the Shipping and Ground Transportation business practises. Matthew joined Merrill Lynch in the firm`s London office in 2001 where he spent five years as a member of the Corporate Finance team focussing on a variety of financing instruments, such as equity, equity-linked and debt securities. He now leads Bank of America Merrill Lynch`s North American Investment Banking Shipping effort and is also in charge of Ground Transportation sectors such as rail, trucking and logistics. Prior to joining Merrill Lynch, Matthew was a banker with Wasserstein Perella & Co. in New York, where he worked on advisory mandates for multi-industry clients.
Matthew`s recent transactions include the 7.0m shares ATM equity of Ship Finance, the $475.0m ATM equity offering of DryShips, $200.0m IPO of Safe Bulkers and $75.0m ATM for Kansas City Southern. In total, Matthew has raised over $25 billion of capital for clients in his career.
He holds a B.A. in Economics from Stanford University and an M.B.A. from the Harvard Business School.
Philippe Chryssicopoulos
Director
Head of Shipping EMEA
Bank of America Merrill Lynch Investment Banking
Philippe is a Director in the Transportation team in London with over 10 years of investment banking experience. Since joining Merrill Lynch in 1998, he has spent two years in New York as an industry banker, then over 6 years in the Corporate Finance team in London focussing on a variety of financing instruments, such as equity, equity-linked and debt securities. He now leads Bank of America Merrill Lynch`s EMEA Investment Banking Shipping effort and also focuses on Transport Infrastructure sectors such as ports, toll-roads and airports.
Transactions include the 7.0m shares ATM equity of Ship Finance, the $475.0m ATM equity offering of DryShips, advising the Board of TUI on the €4.5bn sale of Hapag-Lloyd, advising the Board of Sacyr Vallehermoso on the €7.9bn sale of Itinere Infraestructuras, $4.2 bn IPO of DP World, $200.0m IPO of Navios Maritime Partners LP, €290.5m IPO of Capital Product Partners LP, $215.3 million IPO for Danaos Corporation. In total, Philippe has raised over $85 billion of capital for clients in his career. He holds a BSc in International Economics from Georgetown University and is fluent in French and Greek.
Brian Lehman
Director
Bank of America Merrill Lynch Investment Banking
Brian Lehman is a Director in Equity Capital Markets group at Bank of America Merrill Lynch responsible for originating and structuring corporate equity derivative transactions with a specific focus on the ATM Equity product. With over 12 years of professional experience, Brian is a senior member of the equity origination team at BAS-ML. Prior to joining Merrill Lynch, Brian worked in the ECM group at UBS from 2002 - 2005. He graduated from Villanova University in 1995 with a BS & BA (honors), MPhil from Cambridge University and an MBA from The Wharton School at the University of Pennsylvania in 2002. Notable transportation assignments include ATM Equity transactions for DryShips, Ship Finance, Kansas City Southern and AMR Corp.
Stephen P. Farrell
Partner
Morgan, Lewis & Bockius LLP
Steve Farrell is a partner and the leader of the Securities Practice, part of Morgan Lewis`s Business and Finance Practice. His practice focuses on a variety of domestic and international business transactions, including public and private offerings and other financing transactions, as well as mergers and acquisitions involving public companies and going-private transactions.
As part of his practice, Mr. Farrell has advised many U.S. and foreign issuers and underwriters in offerings of debt and equity securities and stock exchange listings both in the United States and overseas. He is a frequent lecturer on securities law and practice and corporate governance, including the obligations of directors, officers and companies under the Sarbanes Oxley Act of 2002.
Mr. Farrell received his LL.M. in taxation from New York University Law School in 1979, his J.D. from Fordham Law School in 1971, and his A.B. in history from Holy Cross College in 1968. He is admitted to practice in New York and before the U.S. Supreme Court.
Registrants can download the PowerPoint Presentations from this webcast
This webinar will also be available on demand at any time after the live broadcast.
About Bank of America
Bank of America is one of the world`s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,000 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Following the combination with Merrill Lynch, Bank of America has become:
- The largest brokerage in the world, with more than 20,000 advisors and $2.5 trillion in client assets
- A leading provider of global corporate and investment banking services, including commercial lending, global high-yield debt, global equity and global M&A
- A global leader in wealth management, private banking and retail brokerage
- A global leader in investment management, with approximately 50 percent ownership in BlackRock, which has $1.4 trillion in assets under management, in addition to the $589 billion in assets under management with Bank of America as of June 30, 2008
About Morgan, Lewis & Bockius LLP
As one of the world`s largest law firms, we`ve received our share of recognition. Legal industry publications such as Corporate Counsel magazine and American Lawyer have bestowed their highest honors on us for our legal work. Over a third of the firm`s partners have been singled out for outstanding professional service and legal skill in various independent lawyer ranking reports. And we are regularly mentioned in the press because of our involvement with many of the most interesting and significant legal issues facing companies around the world. After 134 years of legal service, this kind of recognition, along with numerous other accolades, only begins to explain how Morgan Lewis helps clients everyday.
From day-to-day business decisions to the most complex and global business transactions, our clients rely on us to guide them through all of their legal needs. With more than 1,400 lawyers in 22 offices located in Beijing, Boston, Brussels, Chicago, Dallas, Frankfurt, Harrisburg, Houston, Irvine, London, Los Angeles, Miami, Minneapolis, New York, Palo Alto, Paris, Philadelphia, Pittsburgh, Princeton, San Francisco, Tokyo, and Washington, D.C., Morgan Lewis offers seamless service across practice areas, no matter where our clients reside.
About Capital Link
Capitalizing on our in-depth knowledge of the shipping industry and capital markets, Capital Link has made a strategic commitment to the industry becoming the largest provider of Investor Relations and Financial Communications services to the majority of international shipping companies listed on the US and European Exchanges. Capital Link`s headquarters are in New York with presence in London and Athens.
In our effort to enhance the information to the investment community and contribute to improving investor knowledge of shipping, Capital Link has undertaken a series of initiatives beyond the traditional scope of our investor relations activity, such as:
- www.CapitalLinkShipping.com: A web based resource for investors with information on all sectors of shipping focusing primarily on listed shipping companies.
- Weekly Capital Link Shipping eNewsletter: Weekly distribution to an audience of 35,000 subscribers in US & European shipping investor community.
- Sector Forums: Semi-annually, we organize a series of panel discussions among CEOs and analysts on various shipping sectors (containers, dry bulk, tankers).
- Capital Link Investor Shipping Forums: in New York, Athens and London, which bring together investors, financial advisors, listed companies CEOs, analysts, and shipping industry participants.
Capital Link, Inc. • 230 Park Avenue • Suite 1536 • New York, New York 10169
Tel.: (212) 661-7566 • Fax: (212) 661-7526
www.capitallink.com • www.capitallinkshipping.com • www.capitallinkforum.com
Capital Link - New York - London - Athens
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