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Developments of Communications for the Austrian and CEE Corporate Bond Market. Trimedia Communications. Stephan Neisser Head of Centre of Excellence Finance, Trimedia Communications Austria 5 years in communications business, specialised on financial communications
Developments of Communications for the Austrian and CEE Corporate Bond Market
Trimedia Communications • Stephan Neisser • Head of Centre of Excellence Finance, Trimedia Communications Austria • 5 years in communications business, specialised on financial communications • 7 years in investment banking in London and Vienna • University degrees of the Vienna Business University and the California State University of Hayward
About Trimedia • Trimedia Communications one of the leading PR agencies in Europe • The company was founded in 1981 and employs more than 400 people • Offices in 26 European cities (Austria, Belgium, France, Germany, Italy, Netherlands, Portugal, • Spain, Sweden, Switzerland, and Great Britain) and a worldwide network
Corporate Bond Market in Austria • Corporate bond market has been growing enormously since 2000 • Number of listings more than four times increased • Raised volume by more than 200 times • 2005 app. EUR 4bn • Four major groups • Big Austrian companies such as Wienerberger , Wiener Städtische, Spar, A-Tec, Telekom Austria • Real estate companies such as Meinl European Land • Medium-sized business (mainly subsidised by Austrian government) • Special group of state owned companies with top ratings such as ASFINAG and ÖBB
Communications for corporate bonds in Austria • Very often first time of relationship with the financial community • Recommended activities of communications range • from nearly nothing to the full number (like IPO) • In fact: communications activities are on a very low basis • Mainly institutional investors are target group • Real estate companies overflow the markets • with their capital raises and bond issues (communications problem) • Bond issues of medium-sized companies are usually too small for public interest
State owned companies or close relationship • Very good rating • Usually coming from the infrastructure sector (railway, highway, PPP-models) • Necessary understanding of the public for financing (Lobbying) • Good preparation for possible privatisation • Showing their ability for private sector • Enormous activities (up to roadshows to Asia)
CEE Corporate Bonds Market • Participation of the EURO will further boost the corporate bond markets in CEE • Czech Republic as biggest corporate bond market (due to high interest rates in the late 90s) • Increasing business in Hungary • (in 2004 nearly the same as issue of government securities; mainly banks and MOL) • Croatia has been increasing from nearly nothing in 2004 • Poland has no activities in corporate bonds
Resume • As corporate bond markets are absolutely on the upswing, • communications for corporate bonds are really at the beginning • Corporates usually have nobody within the communications department taking care of bond issues • External pr agencies usually are not mandated • PR agencies themselves have no experts in this area • Journalists do not pay very much attention on corporate bonds
Trimedia Communications Austria Gesellschaft m.b.H. A-1070 Wien, Siebensterngasse 31 T. +43/1/524 43 00, F. +43/1/524 43 00-5 www.trimedia.at, email@example.com