Topic: SUSTAINABLE FINANCE BANKING – DCM & ESG: The Leveraged Finance Market 2021 taking off & Investment Grade, Sustainability Regulatory Framework, & Capital Markets Trends
This presentation is based on Sonal Patney's book - How Should We Think About Debt Capital Markets Today? ESG’s Effect On DCM, published in October 2022
The book is a realistic perspective about the shaping of the capital markets today’s day and age, in particular, the debt capital markets transactions with an ESG component, sustainable finance banking, and trends effecting the leverage finance market primarily, and investment grade as well. Since the COP26 UN Climate Change Conference and since the COVID 19 pandemic, the agenda for the public and private sector has changed, i.e., the much-established EU regulations on this topic and others developing in the EU and the US now, the tremendous performance of the leverage finance market recently, and the utilization of ESG by companies in the debt capital markets have led to other regions following in the same respect.
The presentation essentially highlights ESG-linked debt, some of the capital markets products, and the trends occurring, including the sustainability regulatory landscape. The book includes case studies of select companies illustrating these points, and touched upon in this presentation.
Ms. Sonal Patney - Banker & Author
Sonal is a corporate and investment banker and advisory consultant having worked across diverse asset classes, originated, marketed, structured, executed, and advised on over 100 debt and equities transactions that ranged from $5 million to $4.0 billion – these have primarily included syndicated loans, private-equity sponsored deals, private placements, initial public offerings, and follow-own offerings. She has worked primarily with middle market, and large corporate companies, and institutional investors, such as hedge funds, private equity and venture capital firms, international and domestic banks.
She started her career in investment banking for UBS Investment Bank as part of the Technology, Media, & Telecoms Group in 1999 in San Francisco, as a Financial Analyst in equity capital markets. She joined Bank of New York Mellon in 2001 as the Counterparty Credit Risk Management Associate for its’ agency brokerage subsidiary, B-Trade Services (renamed BNY Convergex and acquired by Cowen in 2017), responsible for credit analysis of counterparties, and mitigating risk from counterparties, such as Enron, while pursuing her Master’s at the School of International & Public Affairs, Columbia University. She also worked in Business Development and Marketing for the CEO of B-Trade Services, originating hedge fund business for the trading platform. After graduate school, she stayed with Bank of New York Mellon and transitioned back to investment banking in debt underwriting as part of BNY Capital Markets, working on DCM financings across diverse sectors including energy, automotive, manufacturing, reinsurance, insurance, brokerage, among others and is a recipient of awards in client relationship and deal management and cross-selling while at BNY. Sonal has also worked on a notable project financing – the Horizon Wind Energy deal (formerly a Goldman Sachs-owned company), a $263 million renewables project finance syndication, and in portfolio management of commodities deals in 2007.
Later in 2007, she joined BNP Paribas in the relationship management group working on corporate coverage of the Aerospace & Defense and Paper & Packaging sectors, marketing the Bank’s capabilities, managing, and executing transactions working with the various product groups. From 2010 to 2012, Sonal founded an entrepreneurial financial advisory venture in Minneapolis, The Economic Development Project, helping early-stage companies on their business strategies, budgets, and investor presentations and capital raising efforts. Upon returning to New York in 2013, she consulted for The Bank of New York Mellon in the Syndications and Client Management groups. In 2015 she was Managing Director at investment banking boutique firm Chatsworth Securities for a year. Additional consulting roles have included Arch & Beam Global, a California-based management consulting firm for middle market companies, and BQ Media Lab, an Australian private equity backed research and development company for disruptive technology start-ups, and then private placements focused investment banking firm Castle Placement. Other firms she has worked for have included UniCredit and BayernLB.
As a graduate of Columbia University and New York University, she holds an MPA with a concentration in International Economic Policy, and a BA in Political Science, respectively. She has been involved with many organizations and networks in past years, and held prior nonprofit Board positions. Currently she is a member of The FENG, Asian Columbia Alumni Association, Ellevate, and WITA, and has been a Small Business mentor from 2021-July 2023 for nonprofit SCORE Long Island, where she advised entrepreneurs on their business challenges probono, and the recipient of a mentoring award.