ExportImport Bank

1
Export-Import Bank

• Trade Winds Europe
• Istanbul, Turkey
• April 2008

2
Ex-Im Bank Overview

• Independent agency of the U.S. government
• In FY07, Ex-Im Bank approved 2,793
  authorizations which supported an estimated 16.0
  billion in U.S. exports
• Supports short, medium, and long-term financing
  to creditworthy international customers both
  public-and private sector.
• No minimum nor maximum project size
• Special initiatives for U.S. small business
  exporters

3
Ex-Im Bank Programs

• Working Capital Guarantee (for U.S. exporters)
• Export Credit Insurance (for U.S. exporters)
• Loans and Guarantees for the Foreign Buyer
• Limited Recourse and Structured Finance

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Overview of Programs
5
How We Make a Credit Decision

• Sovereign obligation to pay
• Corporate balance sheet (including local banks)
• Asset-based lending
• Structured finance (balance sheet plus credit
  enhancements)
• Limited Recourse Project Financing

6
Credit Criteria for Trade Finance

• 3 Years of Audited Financial Statements
• Bank and Trade References
• Credit Report
• Foreign Borrowers with Consistent Earnings Do Not
  Require a Local Bank Guarantee

7
Credit Decision for Structured Finance

• Adequate balance sheet to support project
  enhanced by special features that may include
• A) Special Purpose Accounts (e.g. escrow
  accounts)
• B) Covenant and default provisions
• C) Insurance requirements
• D) Letters of Credit or other sources of funds
  that could be pledged

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Credit Decision for Project Finance

• Creditworthy sponsors with real equity
• Offtake contracts and/or good market studies
• Strong financial model
• Credible information provided on all aspects of
  the . . .
• project (costs, structure, technical viability,
  risk allocation, risk mitigation)
• participants (sponsors, offtakers, contractors,
  operators, suppliers, etc.)
• host country (legal regulatory framework,
  government role in project)

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Loans and Guarantees

• Cover
• 85 of U.S. contract price
• 15 cash payment
• U.S. market interest rates
• 1-10 year terms (up to 14 years for PF)
• Fees
• Commitment fee
• Exposure fee
• Buyer/Borrower or funding bank applies

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www.exim.gov

• Application Documents Instructions
• Exposure Fees
• Program Information
• Country Limitation Schedule
• Board Loan Committee Minutes
• Environmental Guidelines

11
Contact Information

• Brian Sant Angelo
• International Business Development Officer
• 202.565.3484
• Brian.SantAngelo_at_exim.gov