    
 BEAR STEARNS
Press Release
4 September 2007
Bear Stearns Hires Stephen and Lawrence Schechter
to join Fixed Income Division
London 4 September 2007 – Bear, Stearns International Limited today announced that it has appointed Stephen L Schechter and Lawrence B Schechter to roles within the Firm's Fixed Income division. They are joining Bear Stearns from their own company, Schechter & Co. Limited, a London based investment bank specialising in private placements, lease finance and financial advisory.
Stephen L Schechter, who founded Schechter & Co. Limited in 2002, will join as a Senior Advisor to Bear Stearns. Mr Schechter will be responsible for new business and client development for European, domestic and cross-border debt financings. Mr Schechter has nearly 45 years' experience in the private placement of debt and equity securities. He has placed over $10 billion of cross-border debt and lease financings for hundreds of companies in a wide range of sectors and widely credited with pioneering the cross border private placement, having completed the first transaction in 1977. Before establishing his own company Mr Schechter was Managing Director and Co-Head of Debt Finance and Advisory at Lazard and, prior to that was Managing Director and Head of International Debt Capital Markets at Schroders.
Lawrence B Schechter will join Bear Stearns as a Managing Director in Debt Capital Markets. At Schechter & Co. Limited he was responsible for all aspects of debt finance, equity linked finance, lease finance and financial and strategic advice, with specific expertise in cross-border debt and lease financings and UK domestic debt placements and leasing.
Jennifer Redman is also joining from Schechter & Co. Limited as an Associate within Bear Stearns' Debt Capital Markets team.
Yves Leysen, Co-Head of Fixed Income in Europe for Bear Stearns International Limited, commented, "Stephen and Larry bring a wealth of experience in private placements and other debt financing. We are building our business in Europe, the Middle East and the Emerging Markets, offering a range of debt financing options to our real estate, infrastructure, corporate and financial clients and we view the team as an important additional resource."
Schechter & Co. Limited has just completed a $475 million transaction for Venture Production plc the largest cross border private placement out of Europe in 2007. Other notable transactions include €129.7 million for German football club, Schalke 04, consisting of a sponsorship monetisation from a subsidiary of OAO Gazprom and a ticket securitsation; a £117 million dual currency, twelve year note issue for Serco Group plc; $82 million for Sunstar Inc., the Japanese dental care company; $70 million for Hunting PLC in the oil services sector; €35 million for Mühlhan, a marine surface protection company in Germany; private placements for Manchester City and Norwich City football clubs; the leveraged buyout of Heckler & Koch Beteiligungs GmbH from BAE Systems and lease financings for Eli Lilly Limited, Serco Group plc, Wincanton plc and Hagemeyer NV in sterling, euros and dollars respectively.
Bear Stearns' Debt Capital Markets team specialises in structured credit financing and last year was responsible for the landmark $925 million real estate bond financing for the Blue City development in the Sultanate of Oman.
About Bear, Stearns International Limited
Bear, Stearns International Limited is a wholly owned subsidiary of The Bear Stearns Companies Inc. and is authorised and regulated by the Financial Services Authority.
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a leading financial services firm serving governments, corporations, institutions and individuals worldwide. The Company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services. Headquartered in New York City, the company has approximately 14,500 employees worldwide. For additional information about Bear Stearns, please visit the firm's web site at www.bearstearns.com.
About Schechter & Co. Limited
Schechter & Co. Limited is a London based investment bank, regulated by the FSA in the United Kingdom, affiliated with Stephen L. Schechter & Co., Inc. regulated by the NASD in the United States. Stephen L Schechter is the company's founder. For nearly 45 years, Mr Schechter has led the private placement of debt and equity securities for hundreds of companies and is widely credited with pioneering the cross border private placement. For additional information about Schechter & Co. Limited, please visit the firm's web site at www.schechterco.com. |
Schechter & Co. Limited