Deal of the month First quarter Rabobank scores AT FOSFA PERFORMANCE TOURNAMENT -( competition OKN'Bl •h'- have ouWishtl DM 225,000,000 Papermill Partnership avided by tUboban1 KNPBT Utrecht again picks up the prize this month with an innovative structured 5, finance deal for the international paper giant KNP BT. The corporate, which has around 150 operating i companies and f 28,000 staff in i B' 1 r 30 countries, was (r j' looking to invest DM 225 million in a new paper board production machine for Zulpich in Germany. 'We were in competition with two other banks,' says Tjeerd de Vries, one of the three-person structured finance team which includes Jos Schreurs and Wilfried Mulder. 'They came up with traditional off-balance proposals, hut we put together an on-halance structure which appe- aled more to the cliënt.' According to the team, they have never heard of this type of structure being used before. 'There are two main advantages,' says Schreurs. 'One is low after-tax interest costs; the other is an im- provement in balance-sheet ratios. The latter was parti- cularly relevant for KNP BT because they didn't want the intended investment to have an adverse effect on their equity capital ratio.' The corporate finance team worked closely on the deal with accounts managers and colleagues from structured finance and the legal and fiscal departments in Utrecht. If you have a 'Deal of the Month' you think meets the criteria - innovative, creative, profitable, complex, tailored to client's specific needs, uses networking - please send your entry to Noor Tania, Marketing Ser vices, UCB 652. The monthly selection is made by the CBS board of management and at year-end an overall 1995 winner will receive a Deal of the Year Award. WHAT'S NewS Issue 3 June/July 1995 Masthead Editorial Staff Anne Lavelle (Editor), Stan Polman (Editor in ChiefNoor Tania (Final Editor/Marketing Services). Editorial Address Rabobank Nederland, Eva van Teeseling, Editorial assistant, UC-R 519, P.0 Box 17100,3500 HG UTRECHT Telephone 31 (0)30 90 2807 Telefax 31 (0)30 90 1904 E-Mail address: Raboband@rn.rabo- bank.nl ^Designed and printed by Hoonte- Holland, Utrecht. Please send change of adress cards to The Editorial Department looking ahead June 21 Sao Paulo's Teun de Boon addresses a symposium on agro-economic devel- opment in Latin America co-organiz- ed by the Dutch ministry oftrade and industry and the NCH Institute for the region.The meeting will be held in Noordwijk.the Netherlands and other speakers include the Dutch minister van Aartsen and agri- attaches from Mexico and Brazil. July 10 The bank's new operation in Kuala Lumpur opens officially. July 12 Taiwan becomes the latest addition to the international network. Although first-quarter gross re- sults generated by CBS as a whole are higher than those booked in the same period last year, they are below targets set for 1995. The main reasons are unexpected interest-rate developments and exchange- rate fluctuations in a number of currencies. Lending in the Netherlands slowed through higher corporate liquidity gen erated by better than expected operating results last year. This means corporates were often able to finance invest ment from cash flow. However, while most lenders are feeling the pinch, Rabobank is still The international football tournament organized annu- ally by the global oil seed federation, FOSFA, proved a way of achieving a number of goals for Rabobank. 'One of our clients approached us about sponsoring the tourna ment that brought together teams from oil-seed and grain companies throughout Eu- rope,' says the Rotterdam offi- ce's Guus Rozendaal. 'This ye- update managing to expand its cliënt base. The international division's first quarter figures also show that almost all offices are be- hind on their targets. Again, exchange-rate fluctuations are an important factor here. But some offices are also behind on their local currency targets. The Consolidated balance sheet total at 31 March was NLG 124.6 billion, around NLG 5 billion lower than year-end 1994. Lending feil by NLG 1.2 billion to 32.6 billion, mainly as a result of the exchange-rate factor and also through a dom- estic trend towards substitut- ing long for relatively cheaper short-term loans. In spite of these developments, return on solvency rose from 6.8 at year- end to 8 percent, thus taking the bank further towards its targeted goal of 10 percent. ar's "championships" were to be held in Holland and we thought this would be a great way to get to know clients on an informal basis.' The Rabo bank team was made up of CBSers from Utrecht, Rotter dam and Rabobank France. 'Although some of the account managers jokingly said we should be good hosts and let the clients win, we didn't really think there was any chance of our team getting past the first round. We had never played together, so it seemed unlikely we'd get far. Amazingly, we came in third.' The tournament was won by the Nofta Team, with the Dutch Oil Team in second position.

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1995 | | pagina 7