deals Wh3t'sNeaS Cash management for the Dutch government Structured notes from NIB Farmland Industries Positive results Rabobank recently captured the biggest cash management deal to have been tendered in the Netherlands for the last 30 years: a strategically important mandate under which we will handle the greater part of the cash management and payments of the Dutch government. This includes income of the Tax Authority, the cross-border payments traffic for the Defense Ministry (which exceeds that of any Dutch corporate customer), and the entire volume of payments for the other 14 ministries and 25 agencies. The An already strong relationship with Farmland Industries, the largest agri- cultural cooperative in the US, was further bolstered by the completion of two trans- actions resulting front cooperation be- tween our Chicago office and the New York syndications group. Michelle Tol- liver, who is relationship manager for Farmland Flydro, teamed up with Ron Klein and Nancy O'Connor of NY Syndi cations to arrange and successfully syndi- cate a USD 140 million five-year revolving credit facility. Farmland Hydro (FHLP), a joint venture between Farmland Industries and Norsk Hydro, is the sixth largest Biosphate fertilizer manufacturer in the TIS. By co-arranging and co-syndicating remaining flows, being the cross-border payments of the Foreign Affairs Ministry and the debit payments of the Tax Authority, have been granted to ING. Our bid was prepared by a cash management services team comprising Jan-Martijn Rap, Mathieu Besters, Bart Jonkheer and Jacq Stals. The state will benefit from quick handling of payments, efficiënt cash and interest rate management, and an ability to centrally monitor traffic using new networking tools provided by Rl. Rap describes the deal as strategically the credit, we helped FHLP refinance ex- isting debt, finance capital outlays, and pay a one-time special dividend. In a sec- ond deal, Michael Butz, the relationship manager for Farmland Industries itself, teamed up with NY Syndications to com plete a USD 650 million 364-day revolver for Farmland. The multi-step syndication required the addition of several new len- ders to the bank group as well as specially tailored pricing terms. The leadership role we played in both deals helped position us to win further advisory, capital-raising, and syndication business now under dis cussion with the cliënt in connection with the plan to merge leading agri cooperative Farmland with Cenex Harvest States. important, not least in light of its spinoff potential. It will generate new relationships with other institutions in the public domain and there is an excellent possibility for entree into other Dutch government contracts. Tokyo's 8-strong credit trading and sales team recently sold JPY 3.5 billion of structured notes from the Dutch insurer NIB. The deal is a further step towards realizing our ambition to become a one-stop shop for credit products in Asia, and in particular Japan, using our balance sheet as a warehouse rather than the ultimate risk bearer. Says Pawam Malik, MD and Head of Asia credit trading, our success sterns from having a seamless and fast-moving global trading business. 'Our most recent structured deal was originated in Japan, structured in three and a half weeks with the help of colleagues in London and New York, and sold within a fortnight into London, Luxembourg, New York, and Tokyo without the bank retaining any risk. We earned a handsome fee for our efforts.' Continued from page 14 reaching consequences of FiU membership on the provision practices in Polish health care and information on private project fi nance possibilities evolving in other trend- setting markets such as the UK. 'The Poles are disadvantaged by their poor infra- structure, the lack of available resources, and limited experience with the models of health care provision emerging elsewhere in F.urope,' says Michel van Schaik of lltrecht, who organized the seminar along P'ith Warsaw's Michal Milczarek. 'Our aim is to provide not only financial mar kets expertise but also to become a gen- uine player in stimulating the system's further development, by bringing our global experience appropriately to bear in the local context.' Rabobank Polska's efforts have translated into an impressive bottom line result, with a 1998 net ROS add of sonte 4.8 percent, well above budget targets, and an increase in net profit of 450 percent (to approx. PLN 9 million) in comparison with the fig- ures attained in 1997. 'Regardless of the uncertainty that surrounds us, this re- mains a dynamic market in which there is clearly no shortage of opportunities,' con- Gients tune in to Rt's health care expertise cludes David McWilliam. 'As always, our main task is to select those that best advance our financial and strategie aims.'

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1999 | | pagina 19