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Peel Hunt, the independent corporate broking, advisory and trading house focused on UK mid and small caps, has today further expanded its advisory offering by adding Debt Capital Markets (DCM) to its existing suite of advisory and execution capabilities via a collaboration with debt advisory, risk and hedging specialists JC Rathbone Associates (JCRA).
Peel Hunt’s new DCM team will be made up of Adrian Bell, Henrietta Podd and Mark Glowrey - a proven team of specialists in DCM origination, advisory, execution, distribution and trading - all previously senior members of the Canaccord Genuity’s debt capital markets practice, before joining JCRA in April 2016. The team are market leaders in the retail bond space, having led over 75% of the issuance on Order Book for Retail Bonds (ORB) over the past three years and expect to continue that success.
Within the terms of the Peel Hunt branded collaboration, the DCM team will share their time between Peel Hunt and JCRA – Adrian and Henrietta will report to Andrew Chapman, Peel Hunt’s Head of Corporate, while Mark will report to Iain Morgan, Peel Hunt’s Head of Execution & Trading. Adrian, Henrietta and Mark will continue to report to Jackie Bowie, JCRA’s CEO on advisory transactions.
Peel Hunt view DCM as a major growth area in which it has already advised on a number of high-profile debt-related corporate deals in recent years. Peel Hunt was co-lead on the convertible bond issues of Hansteen and PHP. Peel Hunt has also worked closely with the JCRA team in 2016, having played a major role in the high-profile retail bond issues of Alpha Plus and Burford Capital.
Steven Fine, CEO of Peel Hunt, commented:
“In today’s low-interest rate environment, debt capital, whether new, refinanced or restructured, is increasingly seen by companies as an attractive and affordable alternative to equity finance. As such, we are excited to launch this new Debt Capital Markets advisory team, which will be a key differentiator for Peel Hunt, that perfectly complements our existing debt trading, secondary distribution and risk management capabilities.
We have seen growing calls from corporate clients for debt capital markets advice, as demonstrated by our active involvement in many debt-related corporate deals. Thanks to our private Partnership structure, we are able to take a longer-term view and see this as a substantial growth opportunity going forward”.
Jackie Bowie, CEO of JCRA commented:
“When the team joined JCRA, it was always the intention to build on their full capability and expertise and the collaboration with Peel Hunt enables us to do that. Providing full access to Peel Hunt’s well-established execution, distribution, underwriting and trading capability will enable JCRA’s clients to access the bond markets, including the London Stock Exchange’s ORB.”
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