Capital Market Advisory
Leading the Market, leading you to success
Rosario Capital is one of the leading companies in Israel in the fields of public and private capital and debt fundraising. Since funded, we successfully raised more than ILS 100 Billion to our clients and we are regularly ranked as one of the leading underwriters in Israel.
Leading underwiriters-Raise and numbers 2017
- Public and Private Fundraising
We take part in fundraising through: public offerings, private placements and debt and capital raise to private companies through a variety of financial instruments (IPO, secondary offering, rights offering, options, bonds, convertible bonds and many others)
Rosario Capital's corporate finance department provides all corporate financing related services: capital structure optimization, credit rating advisory, financial risk management, business plans, regulation advisory, economic and financial analysis and formation of decision supporting models.
Among our client are the most prominent companies such as: Mizrahi Tefahot Bank, Hapoalim Bank, Cellcom, Paz Oil, Property and Building Corp, The Phoenix, Ashtrom Group, migdal, Zemach Hammerman, Amot, Ashdar and many others.
Our advisory service provides a comprehensive solution to all fundraising company needs:
- Modeling and structuring the issuance to meet a company’s specific requirements.
- Advise the company while working with the credit agencies.
- Assisting the company in the preparation of the Road Show’s marketing materials.
- Manage the process including: advising on pricing & timing, leading the road show and attracting investors.
- Communicating market feedback and adjusting the transaction's structure.
- Collaborating with the company's accounts and legal advisors to achieve the optimal transaction for our client.
- Leading both classified investors and public tenders.
- Providing investors with acceptance letters, including the accepted offer and determined price.
- Brokerage Services
As part of Rosario's comprehensive services, we execute trades and distribution of publicly traded securities in the Tel-Aviv Stock Exchange.
Our brokerage department works exclusively with our clients, thus enabling them to enjoy personal and professional service as well as high level of discretion. These are resulting from our boutique characteristics, allowing us to employ only a small number of dedicated professionals.
As part of this activity, we apply our own resources (nostro account) towards maximizing flexibility, which allows our clients to enjoy optimal results.
- Commercial Papers
Rosario Capital is the leading Israeli Commercial Papers ("CP") distributer and operator, through our designated department led by Ms. Orit Zrihen. Orit brings a wealth of experience, which includes serving as a manager at Leumi Credit.
Orit joined Rosario Capital in 2010, and since that time we raised for our clients a total of ILS 2.6 Billion in CP. Among these clients are some of the most prominent companies in real-estate, industrial, automotive, commerce, services and others.
Customarily CP is issued based on credit rating, with no collateral attached. Therefore, most issuers' credit is rated high.
The CP is a short term bond, issued for a one year period, with 4 subsequent year renewal options and flexible exit points to both investor and issuer. CP usually carry the Bank of Israel's interest rate.
CP's diverse investors include: institutional investors, mutual funds, money market funds, sophisticated investors, high liquidity companies and high net-worth individuals.
CP's are an alternative instrument to the traditional bank's on-call credit facility, providing the issuer many benefits:
Lower debt cost
Better diversity of short term credit resources
Credit's flexible withdrawal and continuous availability
Better exposure to institutional investors
We provide our CP issuing client a comprehensive solution for all its needs:
CP issuance framework agreement preparation
Raising the required capital, including management of distribution and tender on the interest spread
Clearing process management
When applicable, list the bond series in the Tel-Aviv Stock Exchange clearinghouse and the Nominee Company
CP ongoing management and maintenance – issue periodical statements, interest payment calculation and ongoing communication with institutional investors and other relevant agents
- Credit Rating Advisory Services
Rosario's Corporate Finance Department provides the client with all required services: capital structure optimization, credit rating advisory, financial risk management, business plans, regulation counseling, economic and financial analysis and decision supporting models development.
Our Corporate Finance Department is led by Mr. Moshe Mayo, CPA. Among Midroog credit agency founders, Mr. Mayo has over 18 years in financing complex transactions, taking companies through debt raising and credit ratings processes, regulation, government office advisory, fairness opinions and more. Over the last few years Mr. Mayo advised Israel's leading companies such as: Israel Electric Corporation, Mekorot (Israel's national water company), Elbit Systems, Ofer Group, Israel Corp., Ashtrom Group, Mayer Group and others, raising a total debt of more than ILS 15 Billion.
Rosario's advisory methodology for credit rating and credit capital raising comprises of the following:
Analysis of current commitments and existing credit lines
Analysis of current financial covenants
Company's financial, business plan and credit requirement analysis
Outline the financial covenants, and derived pledge and subordination
Advise the company's engagement and communication with the credit agencies
Manage the transaction process with potential investors
At Rosario, we continue to work with our clients after the transaction has been completed, to ensure the proper maintenance and communication with the capital market and rating agencies.
Our professional service, combined with our underwriting and distribution proficiencies, allow our clients to maximize credit potential and enjoy the combination of analytical research and profound understanding of the Israeli capital market.
- Internal Company Analysis
We provide our clients tailored financing solutions based on their specific needs and a comprehensive research. In addition to enterprise valuation, we also perform market analysis and various financial, marketing and S.W.O.T. company analysis.. These products yield a comprehensive financing roadmap for our clients.
- BioMed Expertise
As part of Rosario Capital's management philosophy to provide a wide range of high quality services to our clients, we launched during 2010our Bio-Med Department, dedicated to provide financing solutions to high growth Bio-Med companies.
The Bio-Med Department is headed by Dr. Zeev Zak, an expert cardiologist with an extensive experience in the capital market, Bio-Med and Med-Tech industries. Dr. Zak has been practicing medicine for more than 20 years and serves as a Bio-Med consultant to private and institutional investors alike.
Thanks to the exceptional expertise in examining life science companies developed by our Bio-Med Department, we are now renown as the leading investment bank for Bio-Med financing in Israel. Among our clients are: Insuline Medical, IceCure, CollPlant, Medigus, BioLight, Micromedic, Clal Biotechnology and many others.
As part of our Bio-Med Department activities, we analyzes the investment alternatives, based on the company's "Core Asset": the underlying science and technology and their feasibility market demand potential, competitors and, most importantly, time to market. We focus on Bio-Med start-ups which are close to a major milestone event (up to 2 years) and which, having raise sufficient funds , will potentially gain significant valuation gain during that time frame.
Based upon a satisfying outcome of our business due diligence and appropriate suitability to our pre-determined above financing model, we examine the company's valuation and actively support its efforts to raise capital.