1. 1 Romania TOP 100 – 4 th edition Jacques HIPPOLYTE Bucharest, 8 th November 2004

2. 2 Agenda 1.Major Corporates -definition -specific needs 2.Banks’ offer for Major Corporates -features -types of facilities -recent and future developments -new products coming on the market 3.Syndication Conclusion

3. 3 1. Major Corporates Definition  An important level of registered T/O (EUR 50M is the minimum T/O of the first 100 companies of Romania)  Operating in different sectors of activity Local companies Multinationals Public entities Specific needs

4. 4  Different/multiple types of facilities (starting with simple to complex ones)  More sophisticated products  Better terms and conditions (tenors, amounts, pricing)

5. 5 2. Banks’ offer for Major Corporates Features  flexibility  tailor-made solutions  value added contribution  creating competitive advantage

6. 6 Types of facilities - Trade finance, Export finance, Project finance Short term financing Investment financing LBO /MBO

7. 7  Short term financing  short term banking loans  factoring domestic/international  Investment financing  Certain sectors register a higher development and address specific request to the banks: i.e. Real estate sector  Increasing Green-field projects  EBRD, EIB, IFC major players

8. 8  Trade finance  More complex financing structures  Commodity financing - imports and processing  Commodity hedging  Export finance  Buyer credit operations to be structured by local banks under Eximbank of Romania export credit insurance framework  Complex export (turn key projects) and equipment/services exports

9. 9  Project finance  Utilities (water), infrastructure (roads, bridges, hospitals), power sectors demand project financing techniques  PPP law created the framework for the development of the project finance operations  Parties: banks (national and international), IFIs (EBRD, IFC), ECAs, private insurers, equity funds, law firms, consultants (accounting, tax) etc;  LBO/MBOs  Increasing demand  Some legal issues have to be clarified with respect to this facilities

10. 10 Hedging operations Corporate Bonds Off-balance sheets and ABS transactions New products coming on the market

11. 11 3. Syndication As the Needs of the customers are for:  longer period  larger amounts  more sophisticated products SYNDICATION COULD BE THE SOLUTION

12. 12 Participating banks “Actors” involved in a syndicated financing Arranging Bank Customer Law firm Participating banks

13. 13 Development of syndication:

14. 14 Conclusion Anticipation and fast adaptation of the banks to the clients needs More sophisticated demand Strong competition between the banks for attracting and keeping major companies Not yet complete offer/package of products

15. 15 THANK YOU FOR YOUR ATTENTION!