ContiGroup deals Landing the largest cooperative New financing negotiation didyou know COMPANIES, INC. What's NewS Issue 5 August/September 2000 Cooperation between our teams in New York and Chicago has reaped major returns - with the suceessful com- pletion of a general syndication phase to provide new financing for Farmland In dustries, North America's largest farmer- owned cooperative. One of the largest lead agented transactions ever completed by RI, the deal team was able to negotiate a refinancing of the company's existing credit facilities. Farmland was undergoing a cyclical downturn to its key fertilizcr- manufacturing segment, and was recover- ing from an unsuccessful attempt to merge with another US farmer-owned cooperative. The deal serves as a bench- mark in RI's presence in the North Ameri can F&A market. The key to success in the deal stemmed from a 'team approach' - RI, as co-lead syndication agent, joined with CoBank and assem- bied a group of four other banks to fully underwrite the financing. The final phase, completed on 12 July, resulted in a general syndication with an even larger number of financial institutions, thereby reduc- ing RI's final commitment to its hold target. Addi- tionally, the Farmland transaction resulted in a significant increase in RI's ongoing relationship in- come with little change in solvency used. The underwriting gener- ated the largest fee income for a single US transaction syndicated by RI in 2000. The Farmland system and its thousands of cooperating farmers are committed to helping producer-owners achieve long- RI's New York syndications group, in conjunction with the Dallas Office, successfully lead managed the closing of the syndication of a new financing for ContiGroup Com| Group is a diversi- fied F&A com- pany with core activitics cen- tered on cattle feeding, poultry production and processing, and hc tion. The USD 400 million revolving credit facility was used to refinance exist ing debt and to provide for working capi- tal and other corporate purposes. The suceessful syndication strategy in- volved the invitation of four co-agents early in the process, selected for their knowledge of the company and the indus- try, to underwrite the deal. RI's exposure was reduced to the approved hold level in mm term success and secure the cooperative system in the global food and agribusi- ness. Farmland strives to provide produc ers an economie edge while improving cost efficiency and achieving the highest environmental standards. The cooperative continues to refocus its businesses to add greater value to its members and is ex- panding its presence in pork, beef and grain marketing. Key members of the deal team: corporate banking - Tom Levasseur, Bob Bucklin, Bruce Baccus, Ivan Rodriguez, Jirn Purky and Elizabeth Larrison, capital markets/ syndications - Sheldon Sussman, Michael Butz, Holly Hellman, Wink Mora and Nadar Pasdar; legal - Brett Delfino, and credit - Ned Peyser and lan Reece. the general syndication, which attracted an additional seven banks, bringing the bank group to a total of 11. Amid doubts from Conti's long time agent bank regard- financing, ransaction nd posi- tioned RI at the top of the com pany's list of relation ship banks. Addition- ally, the deal resulted in a significant in crease in RI's income from the cliënt. Deal team members to be congratulated for the transaction include: corporate banking - Bob Bucklin, Bruce Baccus, Gordon Arnold, and Jim Kenwood; capi tal markets/syndications - Sheldon Suss man, Wink Mora and Nadar Pasdar; legal - Brett Delfino and from credit, lan Reece. Rabo India has entered into a Strategie Cooperation Agree- ment with Infrastructure Develop- ment Finance Co (IDFC) to providc India's F&A industry unique Solu tions in developing its infrastruc ture. While the agreement cornes as evidence of both RI's and IDFC's commitment to tapping the tremen- dous growth potential in India's food and agribusiness, it also denionstrates the need for the imple- mentation of international best practices and an enabling frame- work. Synthcsizing the complcmen- tary strengths of the two institu tions, the agreement will facilitate synergistic initiatives in infrastruc ture devclopment in F&A, which will help the sector consolidate its position in the international compet- itive context. This partnership will serve as a strong platform for future efforts on key F&A infrastructure projects where both Rabo and IDFC will play a vital joint role. Key play- ers in the developments in F&A In frastructure in India include Rana Kapoor and Preeti Sinha from Rabo India and Jan Bausch and Arend Heijbroek from RI, Utrecht. Next month, What's NewS will feature full coverage on more exciting de velopments underway in Mumbai.

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