UK Export Finance (UKEF) provides financing support to help overseas buyers purchase goods and services from UK companies, including direct loans, guarantees on bank loans, and supplier credit facilities, with financing terms of up to 10 years. UKEF has supported over $20 billion in export contracts across over 50 countries in sectors like healthcare, engineering, and infrastructure. The document outlines the various financing support options available from UKEF and provides examples of projects it has supported.

1. Competitive finance when
you buy from the UK

2. The UK is a global leader in many of the
sectors for which the world has greatest
demand. With its tradition of innovation
and excellence, UK expertise can help
support development and economic
growth. And alongside this, UK Export
Finance can help overseas buyers access
UK goods and services through its
innovative, flexible and competitive
financing terms. As the world’s first
export credit agency, we’ve been
innovating since day one.
Louis Taylor, Chief Executive Officer, UK Export Finance

3. Helping you buy from the UK
A world leader in goods and services
The UK has a long tradition of innovation and excellence,
and is the world’s sixth-largest exporter. With an open and
friendly business environment, and expertise in sectors
ranging from manufacturing and construction to services
and technology, the UK is a trusted business partner to
buyers around the world.
UK Export Finance can help you make sure your
purchases of goods or services from the UK come with
attractive terms of finance.
Innovative and flexible finance
As the world’s oldest export credit agency, with nearly 100
years’ experience in helping overseas buyers, we have
been innovating from day one.
With a range of flexible support on offer – whether that
means lending to you directly, supporting Sharia-compliant
finance, re-financing on the capital markets or traditional
export credits – we can work with you and your supplier to
find the right financing solution for you.
We can also support a range of structures including Public
Private Partnerships and limited recourse Project Finance
proposals. Our export credit guarantees are typically100%
unconditional bank guarantees directly from Her Majesty’s
Government.
UKEF has led the field in innovations, for example with its
award-winning sukuk (Sharia-compliant bond), the first
ever to be backed by an export credit agency, and its
ability to support lending in over 40 overseas currencies,
from the Australian Dollar to the Zambian Kwacha.
We also understand the need for flexibility when you
are considering from where to source your goods and
services. We can support contracts starting from a
minimum of 20% of the value being sourced from the UK.
Competitive terms
As a UK government department and an export credit
agency, we can offer:
repayment terms of up to 10 years (and up to 18 in
some circumstances)
borrowing based on the UK’s sovereign credit rating,
resulting in a more competitive rate of interest from
your lender
attractive fixed or floating interest rates, including
the use of capital markets
accessing financing retrospectively, even after
contract performance has commenced
competitive minimum 20% UK content requirement
the option to defer interest payments until project
completion
Ability to finance in over 40 overseas currencies
Contact us for more information.
Email: internationalenquiries@ukexportfinance.gov.uk
Thanks to the flexible and competitive financing solutions on offer from UK
Export Finance, buying from the UK is more attractive than ever.

4. Global reach
UK Export Finance has helped
thousands of buyers around the
world to finance their purchases
of UK goods and services since
it was established in 1919.
Over the past five years, we
have supported more than
US$20bn of export contracts
in over 50 countries across
a wide range of sectors,
including healthcare, water,
engineering, aerospace, oil
and gas, construction and
infrastructure.
We have a total capacity of
£50bn to support exports to
more than 200 countries
around the world.
The thought leader
among European export
credit agencies
Munawar Noorani,
Managing Director, Citi
Ghana
Brazil
Canada
Strength in numbers
UKEF provided US$400m in support for Ghana’s
Offshore Cape Three Points Project to source
subsea production systems from GE Oil & Gas,
using an innovative hybrid reserve-based lending
and project finance structure.
Financing UK purchaes
UKEF has provided Brazilian energy company
Petrobras with lines of credit worth US$1.5bn,
which has been used to purchase goods and
services from a number of UK suppliers.
Supporting manufacturing
UKEF issued provided a loan of $67 million to
support a contract won by Primetals Technologies,
to supply and install essential equipment in the
upgrade of a steel mill in Saskatchewan, Canada.

5. United Arab Emirates
United Arab Emirates
China
Sri Lanka
TanzaniaNigeria
Flexible support
UK Export Finance supported Carillion, a leading UK
construction company in winning two consecutive
phases of the Dubai World Trade Centre District
development by enabling a mix of direct and
guaranteed loans.
Innovative finance
UKEF achieved a triple world first for its US$913 million
Sharia-compliant asset financing for four A380s for
Emirates: the first sukuk certificate issuance guaranteed
by an ECA; the largest ever debt capital markets offering
in the aviation sector with an ECA guarantee; and the first
time a sukuk has been issued to raise finance for aircraft
prior to their delivery.
Historic currency boost
Thanks to UKEF, China Southern Airlines was able to
access a UK government-guaranteed loan in offshore
Renminbi to purchase an Airbus aircraft – the first ECA
to offer finance in the currency.
Expertise in infrastructure
UK Export Finance was able to provide a loan guarantee
of US$60 million for the supply and installation of
essential rural bridges by UK bridge-builder Mabey
Bridge as part of the Sri Lankan government’s
infrastructure development programme.
Assisting expansion
Julius Nyerere International Airport in
Dar es Salaam benefited from a financial
package that included a UK Export
Finance guarantee to support work on
the airport’s expansion carried out by
BAM Nuttall of the UK.
Tailored solutions
When Marine Platform Ltd in Nigeria
needed remotely-operated subsea
vehicles, UK Export Finance provided
£14.1 million of export credit support,
enabling Forum Energy Technologies
in the UK to deliver the vehicles, with a
support package tailored to the Nigerian
market.

6. What next?
How to access UK companies
UK Export Finance works closely around the world with
the Foreign & Commonwealth Office and the Department
for International Trade (DIT), the government department
that helps UK-based companies succeed in the global
economy and overseas companies bring their high
quality investment to the UK’s economy. DIT offers
expertise and contacts through its extensive network of
specialists in the UK, and in British embassies and other
diplomatic offices around the world.
Visit www.great.gov.uk
Next steps
Contact UK Export Finance to find out how we can help
you as an overseas buyer:
internationalenquiries@ukexportfinance.gov.uk
+44 (0)20 7271 8010
www.gov.uk/uk-export-finance
UK Export Finance provides support within the terms of the OECD Arrangement on Officially Supported Export Credits.
UK Export Finance is the operating name of the Export Credits Guarantee Department.
This document has been prepared for information purposes only and does not constitute legal, financial or investment advice; nor does it constitute an offer or
commitment of any kind on the part of the Export Credits Guarantee Department to provide any form of support or assistance; and it is not intended to create any
legally binding obligations..
Copyright
© Crown Copyright 2017
You may re-use this publication (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence.
To view this licence visit: www.nationalarchives.gov.uk/doc/opengovernment-licence or email: psi@nationalarchives.gsi.gov.uk.
Where we have identified any third party copyright information in the material that you wish to use, you will need to obtain permission from the copyright holder(s) concerned.
This document is also available on our website at gov.uk/uk-export-finance
Any enquiries regarding this publication should be sent to us at marketing@ukexportfinance.gov.uk
UK Export Finance is a UK government department and the UK’s export credit
agency, helping you to finance purchases of UK goods and services.

7. Step-by-step
guide for buyers

8. What support is available for buyers?
UKEF is able to provide support for buyers looking to purchase goods and
services from the UK. These facilities allow the exporter to receive payment
up-front as though it had a cash contract, while the buyer can access
extended repayment terms at a competitive interest rate.
Buyer support

9. Why might a buyer need
support?
When entering into a contract, a buyer might want to pay for
goods and services sourced from the UK over an extended
period of time, while the UK exporter might want payment
once the goods and services are supplied. A bank can lend
the buyer money, repayable over a longer period, to allow
them to pay the exporter up-front.
The UKEF guarantee provides the buyer access to an
alternative funding source, while benefiting from the UK’s
credit rating, resulting in an attractive finance package for the
buyers of UK goods and services.
How does this support work
in practice?
Under a buyer credit facility, UKEF provides a guarantee to
a bank, enabling the bank to provide competitive finance for
a buyer to pay for goods and services sourced from the UK.
The loan is typically repaid over a period of two years or
longer, while the exporter receives payment through the
credit facility as amounts fall due under the export contract.
This facility is available for contracts over £5 million.
Under the direct lending facility, UKEF can provide loans
directly to overseas buyers to finance the purchase of capital
goods and services. A member of UKEF’s bank panel will
arrange and administer the loan.
Supplier credit facilities are available in two forms.
The first operates similarly to a buyer credit facility, but is
typically available for lower loan values of less than £5 million.
Under the second, the bills and notes supplier credit facility,
a bank can buy the receivables from the exporter,
underpinned by a guarantee from UKEF. This means that the
exporter receives payment up-front, while the bank is repaid
by the buyer as set out in the terms of the contract.
These types of support are available typically with 2-10 years
tenor, although they could be shorter or longer depending
on the sector and the deal structure.
In all cases, UKEF can support up to 85% of the contract
value, and charges the buyer a fee for its guarantee.
UKEF can provide buyer credit facilities
in over 40 local currencies, including US
Dollars, Euros, Offshore Renminbi and Yen.
40currencies
What are the benefits of
buyer support from UKEF?
• the exporter is paid as soon as the goods have been
shipped or services performed
• the buyer or borrower has time to pay over a number
of years and can borrow at fixed or floating rates
• the bank receives a guarantee from UKEF for the
amount due under the loan, bills of exchange or
promissory notes

10. Which transactions are
eligible for this support?
• The bank providing the finance must be accepted
by UKEF
• At least 20% of the contract value must be UK content
• The buyer must meet UKEF’s minimum risk standards
• The transaction must satisfy UKEF anti-bribery and
corruption, and environmental, social and human
rights due diligence
• The transaction may not be supported if there are
sanctions imposed on the country
What kind of project
structures can a UKEF
guarantee support?
UKEF can consider support for corporate, sovereign
and public buyers, and a range of structures including:
• Lines of credit
• Limited resource project finance proposals
• Public-private partnerships
• Islamic finance
• Capital markets refinancing
What are the next steps?
Contact UKEF’s international business development
team on:
t: +44 (0)20 7271 8010
e: internationalenquiries@ukexportfinance.gov.uk
w: gov.uk/uk-export-finance

11. A UK exporter is pursuing a
contract to supply goods or
services to an overseas buyer. This
could be following an invitation to
tender or a negotiated contract.
The UK supplier and overseas
buyer makes contact with their
bank and UKEF to see if they
can provide support.
The bank providing the finance
must be acceptable to UKEF.
For a direct lending facility,
UKEF has a panel of partner
banks to arrange and administer
the loan on UKEF’s behalf.
UKEF reviews the application
and makes a decision on
whether to provide support
for the contract through
a guarantee, direct loan
or combination of the two.
The overseas buyer starts
to make repayments of
the loan to the bank.
The illustration above shows an example of a transaction involving a UK exporter
and a buyer; however, UKEF is also able to support other structures.
UK exporter and buyer
The loan agreement between the overseas
buyer and the bank is agreed.
The UK exporter supplies the goods
or services as agreed.
The bank completes the arrangements
and releases the funds to the UK exporter
as pre-agreed with the overseas buyer to
pay for the goods or services delivered.

12. © Crown Copyright 2017
You may re-use this publication (not including logos) free of charge in any format or medium, under the terms of the
Open Government Licence. To view this licence visit: www.nationalarchives.gov.uk/doc/opengovernment-licence or
email: psi@nationalarchives.gsi.gov.uk. Where we have identified any third party copyright information in the material
that you wish to use, you will need to obtain permission from the copyright holder(s) concerned.
This document is also available on our website at gov.uk/uk-export-finance. Any enquiries regarding this publication
should be sent to us at marketing@ukexportfinance.gov.uk
Disclaimer
The information available in this product guide is not intended to be a comprehensive description of UKEF’s products.
Many details relevant to particular circumstances may have been omitted. Applicants for products must read the full policy or
guarantee to see whether it meets their needs. When considering applications, underwriters will look at each case on it merits.

13. Ghana has the natural resources to end its reliance on energy
imports, providing long-term energy security and supporting
Ghanaian industrial development. To achieve this it will need to draw
upon world class oil and gas supply chains and access reliable
finance to support ambitious offshore projects.
The UK’s incredible expertise in offshore oil and gas development
will play an important part. And by issuing direct loans to Ghanaian
projects we can help provide the finance needed.
UK Export Finance is providing US$400 million of support to Ghana’s
Offshore Cape Three Points Project for the subsea production
systems. The project will use GE Oil Gas systems that are
transforming energy markets with software-defined machines and
solutions that are connected, responsive and predictive. GE Oil
Gas is headquartered in the UK.
This will be UKEF’s first direct loan for a project in Africa,
and the world’s first upstream oil and gas development
transaction where a European export credit agency has
supported a major hybrid finance structure, comprising
both project finance and reserve-based lending.
One of the most flexible
credit agencies in the world.
Jeff Immelt,
Chairman and CEO, General Electric (GE)
We are the UK’s export credit agency
© Crown Copyright 2017
gov.uk/uk-export-finance
Find out how we can help your business
+44 (0)20 7271 8010
internationalenquiries@ukexportfinance.gov.uk
Case study: Energy
Finance for energy projects in Ghana

14. Helping you buy
from the UK
UK Export Finance, the UK’s export credit agency,
can help you make sure that the high-quality goods and
services you source from the UK are accompanied by
competitive finance. We provide overseas project sponsors
with flexible and innovative long-term financing that makes
projects happen. Strategically and operationally aligned
with the Department for International Trade, we are the
world’s oldest export credit agency, with nearly 100 years’
experience in helping overseas buyers like you.
So why not get in touch and find out
how we can help you?
e: internationalenquiries@ukexportfinance.gov.uk
t: +44 (0)20 7271 8010
w: www.gov.uk/uk-export-finance

15. The UK can supply the cutting-edge technology required by
Nigeria to exploit its energy opportunities. By issuing UK sovereign
guarantees on loans to Nigerian companies, UKEF can help them
access the finance they need.
When Nigerian company Marine Platforms wanted the latest in
subsea technology it looked to the UK. To help provide the right
finance package, UKEF guaranteed a £14.1 million loan to help it
buy from the UK. The competitive interest and payment terms this
provided helped Marine Platforms purchase subsea vehicles from
UK company Forum Energy Technologies.
The heavy-duty vehicles – designed and built in Yorkshire, England
– can operate at depths of up to 3,000 metres, more than 15
times deeper than human divers can reach. They are used to build
and manage well-heads on the sea floor, and in the telecoms and
renewables industries.
UKEF believes high-quality products like these deserve
competitive finance.
Nigeria’s energy sector is the biggest in Africa. It requires the latest technology
and a network of suppliers on a global scale. Reliable sources of finance are
crucial to its continuing growth.
We are the UK’s export credit agency
© Crown Copyright 2017
gov.uk/uk-export-finance
Without UKEF support
the project would probably
not have gone ahead.
Kevin Taylor, Vice President,
Subsea Vehicles at Forum Energy Technologies
Case study: Technology
Finance for advanced subsea vehicles

16. Helping you buy
from the UK
UK Export Finance, the UK’s export credit agency,
can help you make sure that the high-quality goods and
services you source from the UK are accompanied by
competitive finance. We provide overseas project sponsors
with flexible and innovative long-term financing that makes
projects happen. Strategically and operationally aligned
with the Department for International Trade, we are the
world’s oldest export credit agency, with nearly 100 years’
experience in helping overseas buyers like you.
So why not get in touch and find out
how we can help you?
e: internationalenquiries@ukexportfinance.gov.uk
t: +44 (0)20 7271 8010
w: www.gov.uk/uk-export-finance

17. UKEF believes the UK’s high-quality goods and services should
come with the competitive finance to match.
We are the UK’s export credit agency
© Crown Copyright 2017
gov.uk/uk-export-finance
As the UK’s export credit agency, with headquarters in London,
UKEF combines the expertise of the City of London and the
global reach of the UK government. This makes it a powerful
partner to help buyers access the best the UK has to offer.
UKEF has helped a large number of buyers take advantage of
borrowing based on the UK’s sovereign credit rating, increasing
the finance available to them and at a more competitive rate of
interest.
But UKEF offers buyers more than just broad shoulders and deep
pockets: it offers innovative problem-solving.
• UKEF helped a buyer in China access UK government-
backed loans in Chinese offshore renminbi to buy from a UK
supplier – the first export credit agency outside Asia to do so.
• One of West Africa’s largest gold producers came to UKEF
for a tailor-made financing structure for a managed supply
chain solution to help secure its access to small, specialist UK
suppliers.
• UKEF helped a buyer in Dubai with a world-first in Islamic
finance, when it provided them with Sharia-compliant asset
financing to buy aircraft partly made in the UK.
• A buyer in Ghana has taken advantage of a direct
loan from UKEF for one of its projects in Africa - the world’s
first upstream oil and gas development transaction where
a European export credit agency has supported a major
hybrid finance structure, comprising both project finance
and reserve-based lending.
It is by being responsive to what the market needs, by not
being afraid to innovate, that UKEF can support buyers in their
procurement from the UK.
Contact us to help you access reliable and quality
supply from the UK’s world-class exporters.
Case study: UKEF’s global network
Helping international buyers access
world-class UK suppliers

18. Quick facts
UK Export Finance
• works in partnership with over 70 banks or
commercial insurers
• has at least £50 billion of support available for
UK supplies
• has supported international trade for nearly
100 years
• is open for business in over 200 markets worldwide
• has finance available in 40 currencies
Find out how we can help your business
e: internationalenquiries@ukexportfinance.gov.uk
t: +44 (0)20 7271 8010
w: www.gov.uk/uk-export-finance