EXPORT AND AGENCY FINANCE

Trade Solutions.

Export And Agency Finance.

Trade Solutions. Export And Agency Finance.

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Export and Agency Finance (EAF) arranges structured long tenor financings, related to trade and capital projects, supported by agencies - Export Credit agencies (ECAs), Multilateral agencies, Bilateral agencies and Developmental Financial Institutions.

  • Tied financings (directly linked to imported capex) from ECAs:
    • Direct loans.
    • Supported by guarantees and/ or insurance cover.
    • Under co-financing programs.
  • Untied financing (not directly linked to imported capex):
    • Under risk-sharing programs with Bilateral Agencies.
    • Supported by insurance / guarantee under untied programs of ECAs.
    • Under the A/B loan programs of Multilateral and Bilateral Agencies.
  • Support from agencies for local currency financing (loans and bonds).
  • Providing agency supported financing solutions to the middle market / SME sector.
  • Risk-sharing programs with agencies for providing untied financing.
  • Citi is a dominant player in agency-supported financing with long standing relationships with more than 65 agencies globally.
  • Equipped with an on-the-ground team focusing on providing customised solutions for arranging agency-supported financing. The team is supported by 50 professionals in 4 global hubs and additional 9 global offices which enables seamless transaction execution through direct engagement with both the Agencies and the borrowers (in native language and through local presence).
  • Has the ability to provide a comprehensive financing solution by offering other financing products and services to compliment agency-supported financing.
  • Our approach is unique insofar as:
    • Citi's portfolio includes transactions supported by ECAs, DFIs and Multilateral Agencies and is not biased towards any particular agency given its global approach.
    • Transactions are not limited to standalone financings, but often incorporate larger syndications and embedded structured derivatives.

As per Export and Agency Finance - Global league tables, Citi is ranked as # 1* in Mandated Arranger for ECA Supported Loans.

*Cumulative 2010 thru 2012 figures supplied by Dealogic as of January 7, 2013.

  • One of the largest non-aviation ECA supported financings in India for Reliance Industries Limited. US$ 2 Bn equivalent Euler Hermes financing in 2012. This deal won the Asset AAA award for Best ECA backed solution.
  • US$ 100 million EDC financing for Hindalco Industries Limited. This was the first Category A project as per IFC Performance Standards that was reviewed and participated in by EDC in India.
  • US$ 180 million SACE supported financing for Fiat India Automobiles Limited which won Global Deal of the Year award in 2009.
  • Successful closure of US$ 500 million U.S. Eximbank supported structured corporate finance for Reliance Petrochemicals Limited, which was the largest tranche of multi-ECA supported financing.
  • US$ 750 million financing for Reliance Infocomm Ltd. guaranteed by U.S. Eximbank for US$ 500 million and direct loan of US$ 250 million from EDC. This deal won the Global Deal of the Year awards from Trade Finance and from Trade Forfaiting Review.
  • First financing in India under the NEXI untied program. US$ 65 million NEXI supported facility for Asahi India Glass Ltd. This deal won the Global Deal of the Year award from Trade Finance.
  • First dual rated agency credit-enhanced local currency bond issuance in India: Rs.1400 million bond issue by Ballarpur Industries Ltd. partially guaranteed by FMO.
  • First ever financing by JBIC in India under the JBIC Overseas Investment Loan program for Motherson Sumi Systems Ltd.
  • First ever OPIC supported local currency financing in India for Spandana Sphoorthy Ltd.

Sowmya Venugopalan, Vice President, Export and Agency Finance: sowmya.venugopalan@citi.com