|
Trade finance
The Bank offers a wide range of services in the field of trade finance. The Bank has relationships with ECAs including Euler-Hermes in Germany, EKN in Sweden, EKF in Denmark, SACE in Italy, EGAP in the Czech Republic, Finnvera in Finland and others. The Bank also has relationships with international financial institutions. As at 1 January 2009, the Bank's foreign partners had opened credit lines for the Bank in excess of US$450m for the purposes of participating in various trade finance operations (including long-term financing for insurance covered by ECAs and operations covered by the GSM-102 Export Credit Guarantee Program of Credit Commodity Corporation of the US Department of Agriculture).
Syndicated loans
The Bank raises finance on the European syndicated loan market. Its debut syndicated loan in December 2005, arranged by Commerzbank AG and Standard Bank Plc (with the participation of 17 other banks), was over-subscribed by 115 per cent and raised US$43m (which was US$23m more than initially planned) with a tenor of one year. The Bank's second syndicated loan in January 2007, arranged by ING Bank N.V. and Standard Bank Plc, was also over-subscribed and raised US$60m with a tenor of one year, which was US$20m more than initially planned. In January 2008, the Bank raised US$62.5m in a one-year syndicated loan arranged by Erste Bank der Oesterreichischen Sparkassen AG, Landesbank Berlin AG and Bank Austria Creditanstalt AG.
|
