RBS 2003 Annual Report Download - page 15

Corporate Banking and Financial Markets
Annual Report and Accounts 2003
13
In 2003 we maintained our position
as the UK’s leading Corporate
Bank and grew both our corporate
banking and financial markets
businesses in Europe, the US and
Asia. Our total income increased by
£645 million or 11% to £6,697 million.
 Average loans and advances to customers
increased by 9% or £7.5 billion to £94.3 billion.
Average customer deposits within the banking business
increased by 7% or £4.1 billion to £61.0 billion.
 Growth in income reflected our commitment to
supporting our customers through a broad range of
transactions tailored to their individual requirements.
UK Corporate Banking
 We played a major role in a £600 million
refinancing of EMI’s credit facilities which included
the launch of the company’s first high yield capital
markets issue.
 We created a unique ‘back-to-back’ solution
that met the coin requirements of Arriva’s UK Bus
division and Sainsbury’s.
 We provided a tailored cash and treasury
management solution to support Element 6
(formerly De Beers Industrial Diamonds).
 When Vue Cinemas acquired 36 Warner
Village premises, they sought a bank partner who
could rapidly create a cash and card processing
solution to meet their very demanding acquisition
timeframe. We structured a solution which met this.
 Our £22 million financing for Petrofac helped
to support their acquisition plans.
 We structured a multi jurisdictional financing
package to support Dorchester Hotels’ further
expansion of their international hotels, including new
prime assets in Milan and Paris.
 We co-wrote and syndicated the £148
million re-financing debt package for Anglian
Windows allowing Alchemy Partners to return a
proportion of capital to investors.
 We enabled Peel Holdings to acquire
Clydeport by solely arranging and underwriting a
£165 million bridging facility.
 We have supported award winning Innocent
Drinks since its launch in 1999, enabling the
company to grow and expand despite significant
international competition.
 Carillion (previously Tarmac) celebrated its
centenary and a 100 year relationship with RBS.
Structured Finance
 We were mandated lead arranger for the
£2.5 billion Spirit Group and S&N retail pub group
transaction. This was the largest sterling leveraged
buyout in the UK and the 2nd largest in Europe in 2003.
 We led the US$6.1 billion acquisition facility
for Cadbury Schweppes, to enable their purchase
of the US confectioner Adams. The deal was awarded
Loan of the Year by Corporate Finance magazine.
Asset Finance
 Both Angel Trains, our rolling stock leasing
company, and Lombard our small and mid-ticket
asset finance brand in the UK and Ireland,
maintained their leading market positions in 2003.
 A new car division comprising the Dixon
Motors retail business, jamjar and the Lombard full
service contract hire and leasing operation was
formed. It supplied more than 100,000 new and
used vehicles to its customers in 2003.