SMITHFIELD SELECTS RABOBANK TO REPLACE J.P. MORGAN CHASE New dealing room Americas Global NEWS EVENTS On 9 June 2011, DCM Americas and Rabobank Dallas closed, as Sole Lead Bookrunners, three financings for Smithfield Foods totalling USD 1.4 billion. The refinancing consisted of a USD 925 million senior note financing and compa- nion swap (provided by GFM Derivatives) initially closed in 2008. This 'bond-like' solution was the key to unlocking the cross-sell mandates that were later achieved as part of the com- pany's comprehensive refinancings completed in August 2009 and June 2011 The net result is the elevation of Rabobank as Smithfield's lead bank, thereby displacing J.P. Morgan. million senior secured syndicated revolver, a USD 275 million fully underwritten and solely provided trade receivables securitisation, and a fully underwritten and solely provided USD 200 million term loan renewal. Rabobank's team executed for this industry leader a material revolver over- subscription and the company's first ever trade receivables securitisation. This refinancing was guided by the Relation- ship Development Plan (RDP) initiated in 2006 with the express purpose of elevating Rabobank's standing to this long-time core global pork cliënt and on the strength of Rabobank's sector knowledge. The RDP led with the USD 200 Construction is forging ahead on the new dealing room in the Rabobank Croeselaan Building in Utrecht, the Netherlands. The high-tech dealing room will be completed in mid-2012 and will accommodate 300 employees spread over two trading floors. The project is part of Rabobank International's plans to become the number one wholesale bank in the Netherlands. Arjo Blok, Head of GFM, said: "Demand for our services is growing in the Netherlands and the other 47 countries where we operate. We need more people to service these clients and manage their exposures in the currency, ISSUE 29 OCTOBER 2011 RJ WORLD First impression of the new high-tech dealing room, which will accommodate 300 employees spread over two trading floors. interest rates, bonds, commodities and equities markets. "We're using this opportunity to invest in new technology, new furniture and a new working space design. We're creating a truly inspiring place to work - one that's designed for our future."

Rabobank Bronnenarchief

blad 'RI World' (EN) | 2011 | | pagina 10