Wind projects in California
'WAKE UP YOUR LAZY MONEY!'
AD CAMPAIGN PRODUCES
GREAT RESULTS
Australia
Americas
Greg McAweeney,
RaboDirect General
Manager
RaboDirect Australia's 'Wake up your lazy
money' advertising and public relations
campaign, launched in May as part of a
rebranding initiative, has enjoyed great
success, with total deposits by mid August
reaching an historie AUD 3.6 billion, edging
the bank closer to its self-funding goals.
Greg McAweeney, RaboDirect General
Manager: "Outspent by our major com-
petitors, we had to devise a campaign that
would boost brand awareness, cut through
to an audience in a cluttered category, and
put RaboDirect on the consumer's conside-
ration list. To date, brand awareness has in-
creased from 6 percent to 31 percent, which
is an excellent result in such a short space of
time. Meanwhile, our deposit volumes have
surpassed expectations, and by August we
had already exceeded our year-end targets,
which well and truly exceeded everyone's
expectations." (See more about the cam
paign on page 18).
In July, Renewable Energy and Infrastructure Finance, Americas
(REIF Americas) acted as bookrunner in a USD 1.2 billion trans
action to finance a series of wind power projects in California.
The transaction was REIF Americas' seventh in 2010 and tenth
in the department's first year.
The wind farm, which is being developed by Terra-Gen, will
operate Vestas turbines and will be one of the largest in the
US. lts five phases (which will produce 720 MW of power) will
increase California's installed wind capacity by more than 25
percent, helping California meet its renewable portfolio target
of 33 percent by 2020, and delivering enough renewable energy
to supply up to 200,000 homes.
REIF Americas provided USD 100 million (from a total of USD
625 million) of the construction bridge loan and L/C facilities.
Furthermore, USD 580 million of project bonds were issued, with
Rabobank GFM acting as co-manager. All proceeds will be used
to fund project construction.
This is REIF Americas' third transaction with Terra-Gen, an expe-
rienced cliënt with a portfolio of projects and a strong pipeline.
It aligns with REIF's strategy to develop strong global relation-
ships with several active, high quality developers. It also supports
Rabobank's strategie relationship with Vestas as the project con-
stitutes Vestas' largest order for a single site. Rabobank provides
a revolving credit facility to Vestas and was joint bookrunner in
Vestas' inaugural 5-year Eurobond issue.
ISSUE 25 QCTOBER 2010 RI WORLD