GML
International Limited is a private investment banking
firm, formed in London in 1983 to specialise in international financial
engineering and merchant banking, primarily in emerging and transition
countries.
On
July 31st 2007, GML International Limited ceased to act as an investment
adviser or manager. On August 1st 2007 GML Capital LLP was contracted
to provide the role of Investment Adviser to the funds. Previously advised or managed by GML
International Limited is the Managing Member of GML Capital LLP. Any use of the term "GML"
throughout this web site, when describes investment advisory or management or corporate finance activities refers to GML International Limited prior to August
1st 2007 and GML Capital LLP from August 1st 2007 and onwards
With its headquarters in London, GML maintains full Representative Offices in Moscow, Kyiv, Tbilisi and
Genoa, as well as representation in Accra, Geneva, Madrid, Stockholm and
Vienna. GML is owned by London-based officers of the company, all of whom
are involved on a full-time basis in GML’s business. We are extremely
proud of the entrepreneurial culture of the firm, and plan to remain a
dynamic and agile organisation..
GML
professionals world-wide are collectively fluent in seventeen languages,
and have extensive backgrounds in investment banking (including corporate
finance and mergers and acquisitions), trade and project finance (in particular,
without recourse financing), commercial banking, private banking, sovereign
and investment advisory work, capital markets origination, loan structuring
and syndication, bond and loan dealing / market making, trading and financing
of commodities (in particular, electricity), and multilateral development
banking. GML specialists have experience in structuring virtually every
type of financial transaction ever concluded in GML’s target markets
of Central and Eastern Europe, the Near East, Central Asia, Africa and
the Middle East.
GML
is authorised and regulated by the UK Financial Services Authority (the "FSA"), the United Kingdom regulator of all financial services institutions, and is a registered Investment Advisers with the U.S. Securities and Exchange Commission.
GML has five primary lines
of business, namely:
Advising
governments and other public and private sector entities
on debt reduction and restructuring strategies, access to capital markets,
debt conversion programmes, debt set-off structures, and financial engineering
using value impaired debts as a currency of payment. GML has executed
sovereign debt management programmes involving more than USD 3.5 billion
of debt obligations. GML is accustomed to structuring complex multi-party
and cross-border transactions, and maintains many close relationships
with governments and financial institutions in GML’s target markets.
As an example, GML is one of very few foreign firms accepted by the
Russian State Committee for Foreign Assets and Liabilities as a financial
institution approved to conclude debt-related transactions with the
Government of the Russian Federation. GML has also executed advisory
assignments on behalf of multilateral development institutions.
Originating,
structuring and distributing new financings for
emerging market borrowers within GML’s target markets in Central
and Eastern Europe, the Near East, and Central Asia. Transactions encompass
the entire spectrum of types of borrowing, ranging from trade finance
and working capital finance for corporations (usually guaranteed by
local banks), project finance for para-statal or other organisations,
financing for real estate and hotel projects, and general purpose funding
for banks, corporations and sovereign borrowers. Risk placement is concluded
in the "à forfait" market, the euro-loan market, through
distribution to emerging market investment funds, pension funds, and
in the international bond markets. In support of its risk placement
and syndication efforts, GML produces research reports on a range of
countries, intended for use by credit officers in financial institutions
and fund managers (see Country Reports to download reports). GML has
produced a Microsoft WindowsTM-based industry standard proprietary software
programme, GML Trade Finance AnalyticsTM for use in pricing forfaiting
assets, which can be downloaded from GML Forfaiting Software. A CD-ROM
disk is also available upon request.
Corporate
finance advisory services. GML advises companies
on strategic acquisition, investment and joint venture opportunities
in GML’s target markets (including privatisations and opportunities
arising from corporate restructurings), and also advises companies and
banks on the disposal and restructuring of investments and operations
in these markets. GML also advises governments on privatisation of state-owned
assets. GML has developed particular expertise in structuring and arranging
innovative investments in hotel properties in GML’s target markets.
Structuring
and acting as Investment Advisor to investment funds.
GML has structured and acted as Investment Advisor to two closed-end
investment funds, one which invested in rescheduled Iranian debt (successfully
liquidated in August 1998) and one which invested in Polish Mass Privatisation
Programme equity instruments (successfully liquidated in December 1999).
GML’s open-ended fund launched in June 1998, Growth Management
Limited, is GML’s flagship diversified emerging markets investment
fund (see Investment Management for more detailed information, including
performance analytics and history and subscription forms). See
www.gmlcapital.net
Debt
recovery and trading of debt instruments, both
performing and non-performing, as well as trading of equities. GML is
a member of the Forum of Trade Creditor Group Representatives for the
restructuring of trade indebtedness of the Former USSR, and presently
represents creditors holding over USD 300 million of such claims. GML
has had great success in achieving the reconciliation by the relevant
Russian Government authorities of more than 100 claims on Foreign Trade
Organisations of the Former USSR, aggregating more than USD 400 million
equivalent. GML is especially proud of its expertise in structuring
and settling extremely complex and pioneering financial transactions,
and works very closely on legal issues and documentation with Sidley
Austin Brown & Wood, London, GML’s principal legal counsel,
as well as with other law firms world-wide.
Banking
and Insurance Relationships
GML
is accustomed to concluding its structured transactions in the names of
first class European banks, ensuring that clients of GML bear no counterparty
performance risk in such transactions. GML’s closest banking relationships
are with Standard Bank London Limited, Banca Lombarda International S.A.
and Dresdner Kleinwort Wasserstein Limited. GML also maintains very close
relationships with a number of other leading financial institutions with
strengths in emerging markets. However, GML is an independent provider
of financial services and is not tied to any institution, enabling GML
to work and place risk with any of the more than 1,000 banks and other
institutions world-wide with which GML maintains regular contact. GML
has also developed close and long-standing relationships with Export Credit
Agencies and private providers of credit and default insurance.
Global
Transactional Experience
Transactions
have been arranged by GML involving governments, financial institutions
and companies throughout the Western world and also in Albania,
Brazil, Bulgaria, Croatia, Czech Republic, Egypt, Georgia,
Ghana, Hungary, Iran, Iraq, Jordan, Kazakhstan,
Kenya, Macedonia, Malawi, Montenegro, Morocco, Nigeria, Paraguay, Peoples
Republic of China, Poland, Romania,
Russian Federation, Slovak Republic, Slovenia, Tanzania, Turkey,
Turkmenistan and Ukraine.
How
Does GML Add Value?
GML
adds value to transactions primarily through its structuring skills, impeccable
attention to detail, world-wide network of long-standing relationships
and sources of on-the-ground intelligence, and ability to execute transactions
flawlessly and discreetly in international capital markets. GML’s
relationships and expertise in virtually all areas of international finance
have enabled the firm to conclude numerous proprietary and innovative
financings and other transactions on behalf of its clients. GML is accustomed
to working for its clients on a success-basis only.
Further
Information on audited financial accounts, and references concerning GML’s
performance in a wide variety of transactions are available upon request
(please contact Mr. Stefan Pinter, Director, in GML’s London Headquarters,
email: spinter@gml.net).
