Combining the strength and expertise of banks and institutional investors
Amsterdam, Netherlands, 16-1-2014 — /EuropaWire/ — On the initiative of Euronext Amsterdam, banks, institutional investors and Robeco are joining forces to set up the NL Ondernemingsfonds to provide financing for businesses in the Netherlands. The fund will co-finance company loans. The NL Ondernemingsfonds, the long-term scope of which is projected to reach € 1 billlion, will issue its first loans this year.
The banks ABN Amro, ING and Rabobank, pension providers MN and Syntrus Achmea, asset manager Robeco and Euronext Amsterdam have taken the initiative to set up the NL Ondernemingsfonds, the purpose of which is to create a new source of financing for businesses seeking funds to finance their plans for expansion. The fund is anticipating the recovery of the economy and the resulting increased demand for credit. In the coming weeks other investors will be invited to participate in the initiative.
As from the second half of 2014 businesses will be able to take out a loan from their own bank, which is jointly financed by the bank and the fund. The minimum size of the relevant loans is € 10 million, and they are intended for companies with a turnover of over € 25 million. During subsequent phases of the
project, the NL Ondernemingsfonds may also provide financing to smaller companies. The plan is to expand the scope of the fund to € 1 billion within five years. The NL Ondernemingsfonds will focus on institutional investors and be managed by Robeco.
As the intersection of the public capital market, Euronext Amsterdam has taken the initiative to bring these parties together. The participants have combined their strengths and expertise to implement the project, with the help and support of AF Advisors, Deloitte, PwC and the Dutch Bankers Association (NVB).
Euronext is the founder of this unique collaboration between banks and investors. Since Euronext is not a bank, it will not be pledging its own funds for loans and will be reimbursed for future costs in facilitating this collaboration.
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Euronext is the primary exchange in the Euro zone with over 1 300 issuers worth €2.2 trillion in market capitalization, an unmatched blue chip franchise consisting of 20+ issuers in the EURO STOXX 50® benchmark and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise of running markets by providing technology and managed services to third parties. Euronext operates Euronext regulated markets Alternext and the Free Market; in addition it offers EnterNext, which facilitates SMEs’ access to capital markets. In 2013, through Euronext, more than €100bn was raised to finance the European economy. Euronext is a wholly owned subsidiary of IntercontinentalExchange Group (ICE).
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