RBS 2004 Annual Report Download - page 21

Annual Review and Summary Financial Statement 2004
Divisional review
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 We were the only bank to be appointed on
every sterling bond transaction that Network Rail
executed in 2004. These included a £2.25 billion
deal, the largest ever single tranche sterling bond
issue outside the gilt market.
 With the role of Joint Bookrunner and Joint
Lead Manager, we provided Lloyd’s of London with
a debut subordinated issue, the first time Lloyd’s
have raised funds in the bond market in their 300+
year history.
 The strength of our UK/German links was
demonstrated when RBS was awarded the biggest
banking tender in the UK corporate marketplace in
2004 when gaining the sole UK transmission banking
contract for RWE Group AG, one of Europe’s largest
utility groups.
 In Italy, we acted as Joint Bookrunner for the
1.3 billion senior notes offering for Lighthouse S. A.
guaranteed by Seat Pagine Gialle. The transaction
was the largest ever single tranche high yield bond
issued in the European market and was named
High Yield Deal of the Year by Credit Magazine.
 We acted as Bookrunner and Mandated
Lead Arranger in the 4.5 billion financing of Auna
Group, the second largest telecommunications
group in Spain. The deal was the largest structured
syndicated transaction in Spain in 2004.
 We acted as a Joint Bookrunner for
Wal-Mart, the largest retailer in the world, in
a £1 billion sterling bond issue, equal to the
largest ever long-dated corporate bond issue.
 We completed our first securitisation-related
transaction in South Korea – a US$100 million
warehouse loan for Samsung Card Co.
 We were Financial Adviser and Bookrunner
for the record-breaking US$7.63 billion Qatargas II
project financing, which provided funds for the
development of offshore and liquefaction facilities
in Qatar as well as an LNG import terminal in South
Wales. Qatargas II was voted EMEA gas deal of the
year by PFI Magazine.
 In the United States we held the role of
Joint Lead Arranger in the leveraged buyout of
Mandalay Resort Group by MGM MIRAGE. At
US$7 billion, the friendly acquisition was the
largest leveraged deal of 2004.
Selected Awards
 Best Mid-Market Debt Provider
in Europe 2004
European Venture Capital Journal
 World’s Best Project Finance House
Euromoney
 Best Global Bank
Project Finance International
 Best Senior Debt Provider in Europe
(for the 4th year running)
Private Equity International
 Best cross border securitisation,
for Korea First Bank
Finance Asia
 Bank of the Year: RBS Greenwich Capital
Real Estate Finance Investment's CMBS Awards
 Ranked No.1 for sterling swaps for
12 consecutive years
Risk Magazine