Bonds Investor relations Top ratings Funding and investor relations 41 The issue of bonds raised EUR 10 billion in the market. In the year under review, both institutional and private investors showed increasing interest in fixed-interest bonds, which greatly benefited Rabobank Group. Specific initiatives (structured medium term notes) raised an additional EUR 5 billion of liquid funds in 2002 and gave Rabobank Group a prominent position in this market. Rabobank Group's international reputation as a financial institution with a high credit rating offers exciting opportunities in Asia as well. In co-operation with Daiwa Securities, of Japan, more than 200 mil lion dollars in bonds were placed with Japanese private investors. By concluding alliances with various parties in Asia, Rabobank Group aims for local funding that would enable it to finance new activities in these regions as well.The majority of local funding is used to finance Rabobank Group entities in other regions. Active relationships with lenders are essential for broadening our access to the international capital market. In 2002, contacts with international investors were intensified. Intermediary parties and asset managers make up an influential group, with which close relationships are maintained. Road shows, newsletters and online information at www.rabobank.com are used to inform major inter national investors about, inter alia, the Rabobank Group's strategy, liquidity and risk management and transactions in the money and capital markets. Long-term ratings Rabobank (as of March 2003) Rating agency Rating Trend Standard Poor's AAA Stable Moody's Investors Service Aaa Stable Fitch Ratings AA+ Stable Dominion Bond Rating Service AAA Stable Funding in different currencies American Dollar 49% Euro 24% Japanese Yen 7% Swiss Franc 6% Norwegian Crown 4% Australian Dollar 3% Other 7% Banks with the highest ratings from the leading rating agencies are known as the world's safest banks. Of all the private banks in the world, Rabobank has the highest credit ratings. These top ratings enable Rabobank Group to finance its activities at relatively low costs. More about funding and investor relations? Go to: www.rabobank.com If you would like to receive the newsletters please register by e-mail at ir@rabobank.com

Rabobank Bronnenarchief

Annual Reports Rabobank | 2002 | | pagina 43