The document provides information about export credit financing for projects involving Finnish exporters. It lists several example projects that received financing support from Finnish Export Credit Ltd and Finnvera. The projects are power generation projects located in Indonesia that involved Finnish technology and equipment suppliers like Wartsila. The financing structures typically involve an EPC contractor, export credit agency guarantees, commercial banks, and a local IPP project company as the buyer and borrower. Environmental and social due diligence is required for the largest projects classified in category A. CIRR interest rates and OECD guidelines are also referenced in regards to establishing financing terms for export credit agencies.
More Powers: What Powers? - David Bell, University of Stirlingfutureukscotland
What next for Scotland? Future of UK and Scotland & Scottish Centre on Constitutional Change event at Dynamic Earth on Monday 6 October 2014
http://www.futureukandscotland.ac.uk/events/what-next-scotland
The referendum result has raised questions for both the immediate and longer term future of Scotland and the rest of the UK. At this event, experts from the Scottish Centre on Constitutional Change offered some answers, looking at what happened on 18 September and what might happen in the weeks, months, and years ahead. As the nations of the UK enter what looks to be an unprecedented period of constitutional reconfiguration, this public event highlighted the most recent research by some of the UK's most respected academics, providing a framework for understanding the process and proposals put forth by the parties.
In 2020, the return on Varma’s investments was 2.8 (12.0) percent or EUR 1.4 billion. The value of investments grew to EUR 50.2 (48.7) billion at the end of 2020, the year of the coronavirus.
More Powers: What Powers? - David Bell, University of Stirlingfutureukscotland
What next for Scotland? Future of UK and Scotland & Scottish Centre on Constitutional Change event at Dynamic Earth on Monday 6 October 2014
http://www.futureukandscotland.ac.uk/events/what-next-scotland
The referendum result has raised questions for both the immediate and longer term future of Scotland and the rest of the UK. At this event, experts from the Scottish Centre on Constitutional Change offered some answers, looking at what happened on 18 September and what might happen in the weeks, months, and years ahead. As the nations of the UK enter what looks to be an unprecedented period of constitutional reconfiguration, this public event highlighted the most recent research by some of the UK's most respected academics, providing a framework for understanding the process and proposals put forth by the parties.
In 2020, the return on Varma’s investments was 2.8 (12.0) percent or EUR 1.4 billion. The value of investments grew to EUR 50.2 (48.7) billion at the end of 2020, the year of the coronavirus.
LOANS, BG/SBLC FOR LEASE AND PURCHASE
We are exclusive agent to direct providers of Fresh Cut BG, SBLC, MTN Bonds, Bank draft and Loans which we have specifically for lease. We do not have any broker chain in this offer or get involved in Chauffer driven offers. We deliver with time and precision as set forth in the agreement. You are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc.
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
2. Total Face Value: Eur 5M MIN and Eur 10B MAX (Ten Billion USD) .
3. Issuing Bank: HSBC Bank London, Credit Suisse and Deutsche Bank Frankfurt.
4. Age: One Year, One Month
5. Leasing Price: 3% of Face Value plus 2% commission fees to brokers.
6. Delivery: Bank to Bank swift.
7. Payment: MT-103 or MT760
8. Hard Copy: Bonded Courier within 7 banking days.
The Leased Instruments includes: BG’ s, Insurance Guarantees, MTN, ( SBLC) Standby Letters of Credit and Third Party Guarantees such as a standby forward commitment to purchase or a standby loan. If you are a potential Investor or Principle looking to raise capital, we will be happy to answer any questions that you have about this opportunity and to provide you with all the details regarding this services.
Our BG/ SBLC Financing can help you get your project funded, loan financing, please let me know if you are interested in any of our services, by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding.
BROKERS ARE WELCOME & 100% PROTECTED!!!
We are ready to close leasing with any interested client in few banking days, if interested do not hesitate to contact me direct.
Regards
Philip James
Email: info.frjames1971@gmail.com
Skype: info.frjames1971@gmail.com
Presentation by Maria Shaw-Barragan, EIB Deputy Director of Global Partners Department, on the European Investment Bank's activities outside the EU made on 17/01/2017.
On 23 June 2016, the UK held a referendum to decide whether to remain or leave the European Union (EU). The UK public voted 52% to 48% to leave. This decision will have huge implications for the FinTech community based in the UK. Innovate Finance shares insights of the results according to responses from members and outlines policy priorities going forwards.
Accessing the UK Government Horizon 2020 GuaranteeKTN
This webinar on 24 October 2019 was aimed at UK businesses, Research and Technology organisations and other ‘non-academic’ organisations who currently have active Horizon 2020, Research Fund for Coal and Steel, Framework Programme 7 (FP7) and Euratom Research and Training (Euratom R&T) grants or have recently been notified of a successful grant. There were an interactive panel discussion, hosted by the Department for Business, Energy and Industrial Strategy (BEIS) and UK Research and Innovation (UKRI). The webinar focus on the guarantee and provides practical steps for how to access it.
As you know, if the UK leaves the European Union (EU) without a deal, the government has guaranteed to fund all successful UK bids submitted to Horizon 2020 before the UK leaves the EU. This guarantee will apply for the lifetime of projects. Grants from Research Fund for Coal and Steel, Framework Programme 7 (FP7) and Euratom Research and Training (Euratom R&T) are also covered by the guarantee. In 2018, the government extended the guarantee to cover all successful eligible UK bids to Horizon 2020 submitted between EU Exit and the end of 2020 if we leave the EU without a deal.
The webinar recording is now available here: https://vimeo.com/369776373
Find out more about the Horizon 2020 Special Interest Group at https://ktn-uk.co.uk/interests/horizon-2020
Finland's Economic Policy Council published their annual report in January 29, 2020. In the report, the Council evaluates the government’s fiscal policy and its employment-promoting policies. As in the previous reports, in addition to fiscal policy, the Council concentrates on fiscal sustainability and on the connections between social security and employment.
This year, one of the background reports looks at the assessment of risks of the Finnish Government Guarantee System. Professor of Economics Juha Junttila of the University of Jyväskylä, presented key finding in the report launch seminar, in Helsinki, on 29 January 2020.
For more information, including the full EPC 2019 report and all five background reports, please see: https://www.talouspolitiikanarviointineuvosto.fi/en/home/
EIB: Stimulating Investment in water innovationEIP Water
The European Investment Bank EIB presents challenges for financing innovation development in the water sector and potential instruments / mechanisms for doing so.
LOANS, BG/SBLC FOR LEASE AND PURCHASE
We are exclusive agent to direct providers of Fresh Cut BG, SBLC, MTN Bonds, Bank draft and Loans which we have specifically for lease. We do not have any broker chain in this offer or get involved in Chauffer driven offers. We deliver with time and precision as set forth in the agreement. You are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc.
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
2. Total Face Value: Eur 5M MIN and Eur 10B MAX (Ten Billion USD) .
3. Issuing Bank: HSBC Bank London, Credit Suisse and Deutsche Bank Frankfurt.
4. Age: One Year, One Month
5. Leasing Price: 3% of Face Value plus 2% commission fees to brokers.
6. Delivery: Bank to Bank swift.
7. Payment: MT-103 or MT760
8. Hard Copy: Bonded Courier within 7 banking days.
The Leased Instruments includes: BG’ s, Insurance Guarantees, MTN, ( SBLC) Standby Letters of Credit and Third Party Guarantees such as a standby forward commitment to purchase or a standby loan. If you are a potential Investor or Principle looking to raise capital, we will be happy to answer any questions that you have about this opportunity and to provide you with all the details regarding this services.
Our BG/ SBLC Financing can help you get your project funded, loan financing, please let me know if you are interested in any of our services, by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding.
BROKERS ARE WELCOME & 100% PROTECTED!!!
We are ready to close leasing with any interested client in few banking days, if interested do not hesitate to contact me direct.
Regards
Philip James
Email: info.frjames1971@gmail.com
Skype: info.frjames1971@gmail.com
Presentation by Maria Shaw-Barragan, EIB Deputy Director of Global Partners Department, on the European Investment Bank's activities outside the EU made on 17/01/2017.
On 23 June 2016, the UK held a referendum to decide whether to remain or leave the European Union (EU). The UK public voted 52% to 48% to leave. This decision will have huge implications for the FinTech community based in the UK. Innovate Finance shares insights of the results according to responses from members and outlines policy priorities going forwards.
Accessing the UK Government Horizon 2020 GuaranteeKTN
This webinar on 24 October 2019 was aimed at UK businesses, Research and Technology organisations and other ‘non-academic’ organisations who currently have active Horizon 2020, Research Fund for Coal and Steel, Framework Programme 7 (FP7) and Euratom Research and Training (Euratom R&T) grants or have recently been notified of a successful grant. There were an interactive panel discussion, hosted by the Department for Business, Energy and Industrial Strategy (BEIS) and UK Research and Innovation (UKRI). The webinar focus on the guarantee and provides practical steps for how to access it.
As you know, if the UK leaves the European Union (EU) without a deal, the government has guaranteed to fund all successful UK bids submitted to Horizon 2020 before the UK leaves the EU. This guarantee will apply for the lifetime of projects. Grants from Research Fund for Coal and Steel, Framework Programme 7 (FP7) and Euratom Research and Training (Euratom R&T) are also covered by the guarantee. In 2018, the government extended the guarantee to cover all successful eligible UK bids to Horizon 2020 submitted between EU Exit and the end of 2020 if we leave the EU without a deal.
The webinar recording is now available here: https://vimeo.com/369776373
Find out more about the Horizon 2020 Special Interest Group at https://ktn-uk.co.uk/interests/horizon-2020
Finland's Economic Policy Council published their annual report in January 29, 2020. In the report, the Council evaluates the government’s fiscal policy and its employment-promoting policies. As in the previous reports, in addition to fiscal policy, the Council concentrates on fiscal sustainability and on the connections between social security and employment.
This year, one of the background reports looks at the assessment of risks of the Finnish Government Guarantee System. Professor of Economics Juha Junttila of the University of Jyväskylä, presented key finding in the report launch seminar, in Helsinki, on 29 January 2020.
For more information, including the full EPC 2019 report and all five background reports, please see: https://www.talouspolitiikanarviointineuvosto.fi/en/home/
EIB: Stimulating Investment in water innovationEIP Water
The European Investment Bank EIB presents challenges for financing innovation development in the water sector and potential instruments / mechanisms for doing so.
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
2. A. Established 30 September 1961.
International Monetary Fund (IMF)
the World Bank,
B. Sources
(www.oecd.org).
Organization for Economic Cooperation
and Development (OECD)
Export Credit as Project Finance
OECD CIRRs(Commercial Interest Reference Rates)
6. Europe Financial market (FIXED Rate)commercial Interest
Reference Rate Cost of Money of Borrower:
Interest +Spread +fees+bank Charge
Tenor >8.5 Yr
Tenor 5 -8.5 Yr
Tenor 5 Yr
OECD CIRRs (OECD term)
Fees ;0.3% p.a
Margin ;0.40 %p.a
Tenor <15 Yr
Tenor >8.5 Yr :1.03 % pa
Tenor 5 -8.5 Yr: 0.70 % pa
Tenor 5 Yr :0.39 % pa
Negotiable
7. Under the interest equalisation agreement the financial institution will pay a fixed
CIRR rate to FEC and receive a floating rate (normally Euribor or Libor) plus a
spread from FEC. According to the decision of the Ministry of Employment and
the Economy the interest equalisation maximum spreads to be added to the
reference rate are as follows:
Repayment
period in
years
Credit
amounthttps://www.investopedia.com/terms/b/basispoint.asp
under
5M€
5-25 M€ 25-50 M€ over
50M€
5 or under 50 bp 40 bp 35 bp 30 bp
over 5 - 10 50 bp 45 bp 40 bp 40 bp
over 10 50 bp 50 bp 45 bp 40 bp
Under the interest equalisation system a financial institution arranges for its client a fixed
CIRR-based export credit. The responsibility of funding the transaction lies on the financial
institution arranging the credit. An interest equalisation agreement with FEC provides the
financial institution a hedge, which converts the fixed CIRR-based receivable into a floating
rate receivable.
FEC : Euro<10 year
=1.03-0.272+0.4%
Finnvera : 0.3%
Bank Charges :
1.458 % +Bank Charges
https://www.finnvera.fi/eng/export/export-credits-and-interest-
equalisation/interest-equalisation
3
3% Debt rate for NON
OECD countries shall be
acceptable
8. Euro down 21% from $US from 2011
JPY and IDR down 33 % from $US from 2011
1USD=0.934405 Euro from 2011
1USD=0.741620 Euro from 2016
1USD=9024 IDR from 2011
1USD=13471 IDR from 2016
1
11. IPP (state company)
(SPC/SPV)
EQUITY BASE
LOCAL 20%
foreign 10%
EPC
Local Content
Foreign Bank
Credit Export
Principal
EPC
Import Content
Off-takerAssociated
Local bank
IPP pulau pramuka– Jakarta Project Financial flow
Associated paid to EPC local
Foreign Bank send project loan for foreign
portion
Inter bank dealing/communication
Associated Bank Paid to Foreign bank
Associated Bank send “project loan “ to IPP
Equipment supply ( Foreign&local)
End user Paid Electricity to associated bank
on behalf of Ipp
IPP supply electricity to end user
70% debt, 10year tenor,5% interest
30% debt, 10 year tenor, 5% interest
20 year contract
FINANCIAL FLOW
12. Group Implementing (steam Turbine)
System
implementing
EPC Group FINANCING Group
MATTI MANNER
CEO
www.prohoc.if
TAPIO GYLLING
COO
www.woimacorporation.com
SHAUKAT ALLY
COO
www.danskebank.no
Moody’s: Aa1
Standard & Poor’s: AA+
owned by the State of Finland
www.finnvera.fi
Finnish Export
Credit Ltd.
13. 2015
Exporter: Konecranes Finland Corporation
Guarantee Holder: Deutsche Bank AG, London Branch
Lender: Finnish Export Credit Ltd
Arrangers: Deutsche Bank AG, London Branch, and Credit Suisse AG
Buyer: PT Pelabuhan Indonesia III (Persero)
Buyer's country: Indonesia
Exported goods/Project: Container handling equipment
Guaranteed amount: Approximately USD 121.2 million
Credit period: 5 years
Project classification: A
Environmental and social impact information on project in category A:
• 2015 Exporter: Wärtsilä Finland Oy
Guarantee Holder: Standard Chartered Bank
Lender: Finnish Export Credit Ltd
Arranger: Standard Chartered Bank
Buyer: PT Perusahaan Listrik Negara (Persero)
Buyer's country: Indonesia
Export transaction/Goods: gas fired generating sets, ancillary equipment and related
services
Guaranteed amount: Approximately EUR 70 million
Credit period: repayment in 12 years
Environmental classification: A
Environmental impact information on projects in category A:
14. • 2017Exporter: Wärtsilä Finland Oy, Finland
Suppliers: PT PP and PT Wärtsilä Indonesia, companies incorporated in Indonesia
Guarantee Holder: KfW IPEX-Bank GmbH Arranger: KfW IPEX-Bank GmbH Lender: KfW
Buyer and Borrower: PT Perusahaan Listrik Negara (Persero), a company incorporated in Indonesia.
Export transaction/Goods: delivery and installation of 16*20V34DF generating sets and ancillary equipment to
the 140 MW dual fuel power plant to be constructed and located in Kalimantan Tengah, Indonesia.
Country of Export transaction: Indonesia Guaranteed amount: EUR 82.7 million Credit period: 10 years
Project classification: A
Source of environmental and social impact information (projects in category A):
Basic information as well as information on environmental and social impacts were published at least 30 days
before the guarantee agreement was signed. Date of publication: 8.8.2017
International standards applied in benchmarking: IFC Performance Standards and relevant EHS Guidelines.
Contact point: environment (at) finnvera.fi
Information published: 9 October 2017
• 2016 Exporter: Wärtsilä Finland Oy, Finland
Suppliers: PT PP and PT Wärtsilä Indonesia, companies incorporated in Indonesia
Guarantee Holder: Mizuho Bank, Ltd
Arranger: Mizuho Bank, Ltd
Lender: Finnish Export Credit Ltd
Buyer and Borrower: PT Perusahaan Listrik Negara (Persero),
Export transaction/Goods: delivery and installation of 13*20V34DF generating sets, ancillary equipment and
related services to the 135 MW Flexicycle power plant to be constructed and located in Lombok, West Nusa
Tenggara, Indonesia.
Country of Export transaction: Indonesia
Guaranteed amount: EUR 74.3 million
Credit period: 10 years
Project classification: B
Environmental and social impact information: Construction of a gas fuelled power plant. Main items of the
E&S review were land acquisition, workers’rights and working conditions and impacts to the marine ecosystem.
International standards applied in benchmarking: IFC Performance Standards and relevant EHS
15. EPC (WIOMA Finland)
FEC is the Finnish export credit agency that guarantees the project debt
Finnvera is a Finnish development finance company that provides long term risk capital and
IPP (Indonesia)