28.9 C
August 5, 2021

EximBank offers Astra Vagoane Calatori a letter of guarantee of over EUR 31 M

EximBank has offered passenger train carriage manufacturer Astra Vagoane Calatori a letter of guarantee whose value surpasses EUR 31 M, allowing the company to take part in an international tender and to win a contract of over EUR 100 M, a bank communiqué issued yesterday informs. Based on that contract, Astra Vagoane Calatori will deliver approximately 100 passenger train carriages to Brazil’s Vale di Rio Doce, one of the largest companies in the world. “The fact that we started the year with the closing of this important partnership makes us believe we will manage to support the growth of the share held by trade with non-EU countries, especially since we have products that cover the whole flow of exports, from production stage to delivery stage and up to the moment payment is received,” EximBank President Ionut Costea stated. The bank’s portfolio includes a varied range of products for export companies, from financing that covers merchandise production and delivery costs, and guarantees for loans offered by other banks, to insurances against commercial and political risks. The bank’s financing package includes both standard loans for current activity and investments, as well as specific state aid products: loans with subsidized interest or with the partial compensation of interest which allows the recovery of up to 50 per cent of the interest paid for RON-denominated investment loans contracted from commercial banks. In what concerns the guarantees, EximBank offers “export loan guarantee,” “export guarantee for general merchandise and complex objectives” and “guarantee for internationalization.”  In order to mitigate the commercial and political risks that may appear, EximBank offers a varied range of insurance products: insurance against non-payment risk, against non-market risks, insurance of medium and long-term export loans, insurance of Romanian capital investments abroad, and purchasing credit insurance. Moreover, EximBank offers the Commercial and Credit Information product, an instrument that a company may use in order to come to know its future commercial partner before signing a contract.

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