Akzo issue - RELATIONSHIP APPROACH PAYS OFF Rabobank What's NewS Monthly internal newsletter for the Central Banking Sector issue 7-November 1995) The fixed income origination section of financial markets has won the mandate to lead manage a NLG 500 million bond issue for Akzo Nobel. 'We faced extremely stiff competition,' says Dim den Braven of origination, 'but in the end our relationship ap- proach and keen pricing won us the deal.' Rabobank is working hard on building up its position in the NLG Eurobond market. 'We're currently in second position,' says Den Braven, 'and we've brought a lot of financial institutions to the Dutch capital mar ket. But the corporate side is pretty thin so it is great to have Akzo back.' The bank lead-managed an Akzo-issue in 1992. A year later, ABN-Amro won the bid, but the Dutch multinational is now back and the financial markets team intends to keep it that way. The picture shows the rather low-key signing ceremony - fltr: Rabobank's Jan Haars; Akzo's financial director, Frits Hensel and assistant treasurer Eric Zuijdwijk. in brief BEIJING OPEN FOR BUSINESS October 30 marked the opening of the bank's second representa- tive office in the People's Repu- blic of China. Plans were also announced to launch a further seven in the coming years. The new Beijing office was opened officially by Dutch agriculture minister Jozias van Aartsen and the bank's Henk Visser during a trade mission to the PRC. The bank has also appointed a second woman representative. Beijing-born Dai Hui is an econ omist with experience in trust and investment. She joins Rabo bank from First Pacific Bank in Hong Kong. If all turns out as planned, our existing office in Shanghai should be converted into a fully- fledged banking unit early next year. The Chinese market is in- teresting for the bank because of the giant country's agri-focus and strong ongoing economie growth. Visser also signed two export financing deals with the Bank of China and Eximbank of China, each worth NLG 150 million. In addition, we have also provided the Bank of China with a USD 100 million import facility for agri-products from the US. Under this program, New York branch has provided more than USD 1 billion in facilities to financial institutions worldwide. RABO AUSTRALIA IN MAJOR AGRI-DEAL Our Australian operation has joined forces for the second time with the Commonwealth Bank of Australia (CBA) in a top agri-deal. Both have pro vided equal guarantees on a AUD 400 million multi-option facility for the Adelaide-based Australian Barley Board. Rabo Australia first teamed up with CBA last April when the two banks took equal third shares in a AUD 45 million revolving credit facility for Colly Farms, the country's biggest cotton producer. In a report on this latest deal carried by the auth- oritative Australian Financial Review, Rabo Australia is des- cribed as: 'the local merchant bank subsidiary of Dutch giant Rabobank, the world's biggest agribusiness lender'. contents IN THIS MONTH'S WHAT'S NEWS Working relations - top Argentinian oil-crusher Moreno tells us what they want from us 3 International cash manage ment - structuring for excel- Ience4 North America special - name says itall 5/12 Banker on the spot -Tjepke Nawijn in Bangkok on the Thai experience 13 Man at the top - Bert Steketee on Bert Steketee 16

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