network update
Aerospace and Export Finance in full swing
A small but dynamic team, aerospace and export finance successfully marries two activities
and, as it grows, delves deeper into the international arena. What's NewS reports.
Credit takes the cake
What'sNewS Issue8-August 1998 ~J
Rabobank's core focus in mind, the
aerospace string of the department's
bow perhaps comes as something of a
surprise. The two-man team, headed by
Jan Berntssen, is comprised of Arnoud
Dokkum and, recent recruit from
structured and aircraft finance at ING,
Maarten Arnoldy. The small team assess
and finance the purchase of new or used
fcaircraft by airlines. Although handled out
™>f Utrecht, aerospace finance's portfolio
encompasses some of the big inter
national names. 'We started with the
main Dutch and US airlines,' says
Dokkum, 'like KLM, Delta, United and
Northwest. But since early 1995 when
our policy took on a more global shift,
we have brought some other international
names onboard.' Aside from home
carriers, aerospace's list to date includes
most major US airlines as well as carriers
from Asian Pacific - such as Qantas,
Singapore Airlines and Cathay Pacific. 'In
fact,' continues Dokkum, 'we have had
involvement with the top 20 airlines.' As
proof of the team's growing
internationalization and product diver-
sification, the latest deal - to the tune of
USD 150 million - involved the financing
two Boeing 777-300s for Cathay
racific, including LISD 20 million true
debt and USD 130 million defeased debt.
On occasions, some of aerospace's
activities overlap with the sister
operations of export finance - as seen in
the recent export of an Airbus aircraft to
The Aerospace and Export Finance team rounded up (left to right): Arnoud Dokkum, Mare Roex,
Roland van Limburg Stirum, Iwona Lechocka, Diederik Conijn.Jan Berntssen, Henk Lijs, Frank
Strater, Caroline van der Linden van Sprankhuizen and Maarten Arnoldy
Air Canada, an overlap more generally a
result of assets rather than activities. But
what the two do have in comnton is their
renewed international focus. 'Over the
past few years export finance has
developed start-up teams in Frankfurt,
London, Paris, New York and Singapore
- all the major export nations,' confirms
aerospace and export finance head Jan
Berntssen. 'We concentrate on long-term
finance, not necessarily within our core
F&A focus - although we do like to keep
the ideal Rabobank average of 60 percent
of our activity within food and agri-
business.' One of the latest deals was
closed by the New York and Moscow
offices and involved the financing of the
export of Case agricultural equipnient (a
USD 12 million deal) to the Omsk region
in Russia. 'Our team brings together a lot
of international experience,' concludes
Berntssen. 'Our focus for the coming two
years will be to pursue a more diversified,
emerging market product strategy in
which different country-risk mitigating
instruments play a crucial role.'
Pictured here from left to right are Jos Pak, Bert Sperna Weiland,
Cees Struijk, Hanno Riedlin, Hans Uppelschoten, Alfons de Weerdt,
Dick Duit, Arnold Kuijpers, Henk Gentis, Jaap Slotema, Rik van
Slingelandt and Frans de Jong.
Rabobank International's Credit Committee celebrated its lOOOth
meeting in June with a huge cake liberally decorated with fruit to
emphasize our F&A focus. The RICC meets three times a week and
deals with the organization's large and high-risk applications.
Every two months there is also a policy meeting and it was during
such a gathering that cake was served.
ïfiu.