Funding
nerships with foreign banks to provide international finance
outside those eight countries. As of August, Rl wili partner up
with Deutsche Bankto sel! international cash management
products in approximately 130 countries! Following Dutch di-
ents abroad is just the fïrst step, Schellens says. The next step
wili be serving European clients who are active in the Neth-
erlands. It is very difficult to win, say, the cash management
business of a top European F&A business outside the Nether-
lands. "But if you iook at the likes of M&A, that's where our ex
pertise really comes in to play. We're already discussing deals
with the likes of Abengoa (a Spanish technology company
that applies innovative solutions for sustainable development
in the infrastructure, environment and energy sectors) and
Premier Foods (one of UK's leading food producers)", he says.
Of course, the changes in the Dutch market following the
acquisition of ABN AMRO's Dutch business by Belgian bank
Fortis is creating opportunities for Rl. Dutch companies are
now looking for a truly Dutch bank that wili stand by them
during difficult periods. And this is certainly a difficult period,
given the global credit squeeze. What this means, Ten Fleggeler
says, is that Rl is now being approached by companies that
just a couple of years ago would have gone straight to one of
the international investment banks. He points out that Rl was
lead manager for the bond issue by Dutch telecom operator
KPN in April and for the €750 million bond issue by Dutch
publisher Wolters Kluwer. "A few years ago we would not be
a leading bank in these kinds of transactions."
What is making the biggest difference, Ten Heggeler says,
is RI's close contacts with clients and Rabobank's ability to
guarantee funding.
"When we talked to Ad Scheepbouwer, CEO of KPN (the
biggest Dutch telecom company), when he was in doubt
about the bond issue due to the climate on the stock mar
ket, we ensured him Rabobank would provide any of the
projected proceeds not raised through the bond issue in the
form of a bridging loan. The issue went ahead and was way
oversubscribed. Again, this is about our cliënt knowing and
trusting us."
issue 16 THE WORD
