COMPETITIVE LONG TERM FINANCING FROM NORWAY

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "COMPETITIVE LONG TERM FINANCING FROM NORWAY"

Transcription

1 COMPETITIVE LONG TERM FINANCING FROM NORWAY

2 Our Mission: «Competitive financial solutions to buyers of Norwegian Capital Goods and Services, thus contributing to making Norwegian exporters win contracts»

3 Norwegian ECA-financing Export Credit Norway Legal set-up Ownership Funding Lender of record / Loan book Loan products Credit risk Pricing policy Limited liability company, created by special law 100 % The Norwegian Government The Norwegian State Treasury Export Credit Norway Export credits GIEK / Acceptable banks CIRR / Commercial Total lending portfolio year-end 2013: NOK 45 bn (USD 7.5bn)

4 Export Credit Norway offers Stable, long-term source of financing Competitive interest rates Repayment period: Generally up to 8.5 years For ships 2-12 years Renewable energy projects up to 18 years Loan Amount: Ship financing: financing for up to 80 % of the contract value Other capital goods: financing for up to 85 % Norwegian content must account for at least 30 % of the contract amount All loans must comply with the OECD Arrangement on Officially Supported Export Credits. The loan application must be sent before commercial contract is signed.

5 In close co-operation with guarantors All loans must be secured by guarantee(s) from The Norwegian Guarantee Institute for Export Credits (GIEK) and/or acceptable bank(s) GIEK is a vital partner and covers political and commercial risks Export Credit Norway co-operates with a wide range of both Norwegian and international banks International banks 13% Norwegian banks 12 % 7.5 billion USD 75 % GIEK Guarantors, total lending portfolio, year-end 2013

6 The interest rate

7 An attractive interest rate option: CIRR rates currently at low levels 7,00 CIRR development year tenor CIRR rates Pre-contract CIRR RATES < 5 y y 9-12 y NOK USD EUR ,00 5,00 4,00 3,00 NOK USD EUR 2,00 1,00 0,00 14.Jan Jan Jan Jan Jan Jan Jan.14 7

8 Three types of financing Ship financing Ships built in Norway for Foreign owner Norwegian owner within the offshore sector Ships built at Norwegian owned yard outside Norway Shipyard in Country A Owner/buyer in Country B Export Credit Norway can finance up to 80% of the shipbuilding contract «Parts of Ships» financing For ships to be built by yards outside Norway Repayment period up to 12 years Export Credit Norway can finance up to 80% of the contract amount of Norwegian Ship equipment and Services Financing of Norwegian equipment and services Norwegian content must account for at least 30% of the contract amount. Deliveries from companies based in Norway or companies abroad under Norwegian majority control generally qualify as Norwegian content 8

9 Financing of parts-of-ships Export Credit Norway can offer financing of a package of Norwegian equipment and services. We offer financing for up to 80 % of the total package of Norwegian equipment and services If there is a series of vessels, Export Credit Norway can provide financing for applicable amount on each vessel, or aggregate all Norwegian content to finance up to 80% of last vessel, or a combination thereof Loan tenor maximum 12 years from disbursement based on a case by case evaluation EXAMPLE: - Total contract price each vessel: USD 100 million - Total Norwegian equipment and services per vessel: USD 20 million - Export Credit Norway can finance up to 80 % of last vessel, or a combination thereof Min. 20 % equity Loan amount: USD 64 million 9

10 WHAT SHOULD THE APPLICATION INCLUDE? - Name of buyer, borrower and supplier - Type of delivery and time of delivery - Estimated contract value - Estimated Norwegian content in the contract - Type of loan, amount, currencies, tenor 1 Exporter 2 Exporter and buyer execute commercial contract 3 GIEK or buyer applies for risk coverage from GIEK and / or acceptable financial institution(s) 4 Export and/or commercial bank issue loan guarantee(s) 5 Credit Norway executes loan agreement with buyer and disburses the loan Exporter or buyer informs Export Credit Norway about the project and applies for financing before a legally valid and binding contract is entered into

11 COMPETITIVE FINANCING FROM NORWAY Attractive pricing Access to long-term financing in all market conditions Flexibility within the framework A highly specialised and competent organisation Capacity for more projects moving forward

12 Please contact us Export Credit Norway AS Hieronymus Heyerdahls gate 1, entrance Otto Sverdrups gate P.O. Box 1315 Vika, 0112 Oslo, Norway. Tel: (+47) /

Competitive Export Financing to the Maritime and Oil & Gas Industry. «LNG Powering the Future in INDIA» Mumbai 23JAN2015

Competitive Export Financing to the Maritime and Oil & Gas Industry. «LNG Powering the Future in INDIA» Mumbai 23JAN2015 3 Competitive Export Financing to the Maritime and Oil & Gas Industry «LNG Powering the Future in INDIA» Mumbai 23JAN2015 1 Our mission To provide competitive financial solutions to buyers of Norwegian

More information

Financing Norwegian technology exports

Financing Norwegian technology exports Financing Norwegian technology exports February 2013 Jarle Roth CEO Laila Johnsen, SVP Lending Oil & Gas Export Credit Norway in brief Offers competitive financing to companies buying Norwegian capital

More information

GIEK in 2010: Records, risk and limited resources. Wenche Nistad

GIEK in 2010: Records, risk and limited resources. Wenche Nistad The year 10 GIEK in 2010: Records, risk and limited resources «GIEK s revenues from premiums and fees passed NOK 1 billion in 2010. This proves that there is a great need for our services, and that GIEK

More information

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet

Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet Words from the President and CEO 3 Financial highlights 4 Highlights 5 Export lending 5 Local government lending 6 Funding 6 Results 6 Balance sheet 7 Events after the balance sheet date 8 Income statement

More information

Finnvera s export financing

Finnvera s export financing Finnvera s export financing Diverse export financing services for export companies and financiers The official Finnish Export Credit Agency Finnvera promotes exports by providing companies and banks with

More information

Sinosure- Making the finance happen in China. 2nd Annual Marine Money China Ship Finance Conference Shanghai, China November 17 th, 2011

Sinosure- Making the finance happen in China. 2nd Annual Marine Money China Ship Finance Conference Shanghai, China November 17 th, 2011 Sinosure- Making the finance happen in China 2nd Annual Marine Money China Ship Finance Conference Shanghai, China November 17 th, 2011 Brief Introduction of Sinosure China's only policy-oriented insurance

More information

Contents. Why is export finance needed? What types of export finance are available? Which currencies can be borrowed? How are risks managed?

Contents. Why is export finance needed? What types of export finance are available? Which currencies can be borrowed? How are risks managed? Contents Why is export finance needed? What types of export finance are available? Which currencies can be borrowed? How are risks managed? What terms of interest apply? Is state-supported financing a

More information

Outstanding Loans Received From Abroad by Private Sector. Definitions and Explanations. Statistics Department Balance of Payments Division

Outstanding Loans Received From Abroad by Private Sector. Definitions and Explanations. Statistics Department Balance of Payments Division Outstanding Loans Received From Abroad by Private Sector Definitions and Explanations Statistics Department Balance of Payments Division Contents I- Definitions... 3 II- Compilation Of The External Debt

More information

Export Import Bank Financing Programs

Export Import Bank Financing Programs Export Import Bank Financing Programs The Export Import Bank of the United States (Ex Im Bank) is the official export credit agency of the United States. Ex Im Bank assists in financing the export of U.S.

More information

Annual Report 2009-2010

Annual Report 2009-2010 Annual Report 2009-2010 CANADA ACCOUNT CANADA ACCOUNT ANNUAL REPORT FOR THE GOVERNMENT OF CANADA YEAR ENDING MARCH 31, 2010 Table of Contents Overview 1 Authority 1 Risk Management 1 Management 2 Eligibility

More information

EXPORT IMPORT BANK OF TRINIDAD AND TOBAGO

EXPORT IMPORT BANK OF TRINIDAD AND TOBAGO EXPORT IMPORT BANK OF TRINIDAD AND TOBAGO Evolution EXCICO 1973 EXIMBANK 1997 Vision To be the premier trade finance and credit insurance institution facilitating the national export thrust as the country

More information

Presented By: Norulhadi bin Md. Shariff

Presented By: Norulhadi bin Md. Shariff Presented By: Norulhadi bin Md. Shariff INTRODUCTION Shipbuilding is a global business. Features: i) High labor intensive ii) Capex intensive iii) Huge working capital requirement The role of government

More information

First quarter report 2011 2

First quarter report 2011 2 Comment from the President and CEO 3 Financial highlights... 4 Highlights 5 Export lending.. 5 Local government lending.. 6 Securities. 6 Funding. 6 Results 7 Balance sheet. 8 Statement of comprehensive

More information

OCEAN YIELD AS Pareto Offshore Conference. 13 September 2012

OCEAN YIELD AS Pareto Offshore Conference. 13 September 2012 OCEAN YIELD AS Pareto Offshore Conference 13 September 2012 Ocean Yield AS A new shipping company established in Q1 2012 Portfolio of oil-service assets with long-term charters Balance sheet Q2 2012: $

More information

RULES AND REGULATIONS FOR FINANCING PROJECTS AND COMMERCIAL ACTIVITIES

RULES AND REGULATIONS FOR FINANCING PROJECTS AND COMMERCIAL ACTIVITIES Page 1 of 8 Section 1. Purpose These Rules and Regulations are adopted by the Board of Governors pursuant to Article 13.3. of the Agreement Establishing the Black Sea Trade and Development Bank (Establishing

More information

US Export-Import Bank Renewable Energy & Environmental Program

US Export-Import Bank Renewable Energy & Environmental Program US Export-Import Bank Renewable Energy & Environmental Program Timothy C. Kim Senior Loan Officer US Export-Import Bank, Washington, DC Office of Renewable Energy & Environmental Finance Water 2.0 2013

More information

How to Finance Export Receivables. By Michael D. Farstad Export Finance Lender

How to Finance Export Receivables. By Michael D. Farstad Export Finance Lender How to Finance Export Receivables By Michael D. Farstad Export Finance Lender Table of Contents New Products Working Capital Supply Chain Finance Guarantee Program Global Credit Express Loan Guarantee

More information

Issuing corporate bonds in Oslo an efficient, flexible and mature market for raising debt capital

Issuing corporate bonds in Oslo an efficient, flexible and mature market for raising debt capital Issuing corporate bonds in Oslo an efficient, flexible and mature market for raising debt capital THE NORWEGIAN BOND MARKET AN EFFICIENT SOURCE OF DEBT CAPITAL Bente A. Landsnes President and CEO of Oslo

More information

The Norwegian High Yield Bond Market. Marine Finance Forum New York, Nov 9, 2010

The Norwegian High Yield Bond Market. Marine Finance Forum New York, Nov 9, 2010 The Norwegian High Yield Bond Market Marine Finance Forum New York, Nov 9, 2010 Highlights The international high yield bond markets are active with record issuance volumes and decreasing yields The traditional

More information

Overview of K-sure Ship Finance. The 16 th Annual Marine Money Greek Forum 15 th October 2014, Athens

Overview of K-sure Ship Finance. The 16 th Annual Marine Money Greek Forum 15 th October 2014, Athens Overview of K-sure Ship Finance The 16 th Annual Marine Money Greek Forum 15 th October 2014, Athens 1 2 3 4 5 6 ECA Overview Introduction of K-sure K-sure Ship Finance Program New Product : Capital Market

More information

ShipServ helps marine & offshore suppliers succeed

ShipServ helps marine & offshore suppliers succeed ShipServ helps marine & offshore suppliers succeed Generate awareness & build your company s brand Win new business at lower cost Manage orders efficiently & retain customers Overcome your sales & marketing

More information

Annual Report 2008-2009 CANADA ACCOUNT

Annual Report 2008-2009 CANADA ACCOUNT Annual Report 2008-2009 CANADA ACCOUNT CANADA ACCOUNT ANNUAL REPORT FOR THE GOVERNMENT OF CANADA YEAR ENDING MARCH 31, 2009 Table of Contents Overview 1 Authority 1 Risk Management 1 Management 2 Eligibility

More information

Michael James VP Commercial Banking, RBC. Patrick Murphy Senior Account Manager, EDC. Julia Lee Account Manager, BDC

Michael James VP Commercial Banking, RBC. Patrick Murphy Senior Account Manager, EDC. Julia Lee Account Manager, BDC Michael James VP Commercial Banking, RBC Patrick Murphy Senior Account Manager, EDC Julia Lee Account Manager, BDC Contract signing 9 months Delivery 60 days Final payment Risk of non-payment (70%) Security

More information

Financing and Investment Group

Financing and Investment Group Financing and Investment Group Presentation for Trade Commissioners Robert Pelletier, Chief Representative, Asia Adam Smith, Senior Associate, International Financing Team April 28, 2015 OBJECTIVE Objective

More information

MLT (Medium-long term) export financing

MLT (Medium-long term) export financing MLT (Medium-long term) export financing MLT export financing What is MLT export financing? MLT export financing is a medium-long-term (2-10 years) financing structure for buying Hungarian goods and services,

More information

Equity per share (NOK) 135 123 131 Equity ratio 37 % 39 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 170 153 165

Equity per share (NOK) 135 123 131 Equity ratio 37 % 39 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 170 153 165 REPORT Q1/2015 KEY FIGURES Amounts in NOK million Q1 2015 Q1 2014 31.12.14 Net rental income 503 454 1 883 Fair value adjustments in investment properties and interest rate derivatives 1 294-9 281 Profit

More information

Financing Development through Financial Institutions. Presented by Larisa Manastirli, Principal Banker, Financial Institutions

Financing Development through Financial Institutions. Presented by Larisa Manastirli, Principal Banker, Financial Institutions Financing Development through Financial Institutions Presented by Larisa Manastirli, Principal Banker, Financial Institutions Today s presentation Bank Mandate and FI goals BSTDB and FI Loan portfolio

More information

Training Module: Community Exporters

Training Module: Community Exporters Training Module: Community Exporters This training contains general information only and Deloitte is not, by means of this training session, rendering accounting, business, financial, investment, legal,

More information

Famer Engin dogeng@um.dk EKF

Famer Engin dogeng@um.dk EKF Famer Engin dogeng@um.dk EKF SLIDE 2 Denmark s official export credit company 90 years of experience Owned and guaranteed by the Danish State (AAA-rated) Operates on commercial terms SLIDE 3 Guarantee

More information

Foreign Exchange Administration Policies

Foreign Exchange Administration Policies Foreign Exchange Administration Policies Malaysia continues to maintain a liberal foreign exchange administration policy. The current foreign exchange administration rules are mainly prudential measures

More information

TERHAD. Training to Labuan Offshore Entities on Compilation of International Investment Position (IIP) Report

TERHAD. Training to Labuan Offshore Entities on Compilation of International Investment Position (IIP) Report TERHAD Training to Labuan Offshore Entities on Compilation of International Investment (IIP) Report September 2012 TERHAD 1. Equity Capital: A/L Definition Form DIa Exposures with Affiliated Enterprises

More information

APPLICATION FOR TRADE CREDIT INSURANCE

APPLICATION FOR TRADE CREDIT INSURANCE Zurich Emerging Markets Solutions Political Risk and Trade Credit Insurance 1201 F Street, NW, Suite 250, Washington, DC 20004 Tel: (202) 585-3100 Fax: (202) 628-2216 APPLICATION FOR TRADE CREDIT INSURANCE

More information

Cruise Finance Simon Hartley Partner Norton Rose Fulbright LLP 19 May 2015

Cruise Finance Simon Hartley Partner Norton Rose Fulbright LLP 19 May 2015 Cruise Finance Simon Hartley Partner Norton Rose Fulbright LLP 19 May 2015 Cruise Financing Introduction Background to our involvement (i.e. shipping focus of firm but particular involvement with cruise

More information

Outstanding credit 2015, 1st quarter

Outstanding credit 2015, 1st quarter Financing and incurance 2015 Outstanding credit 2015, 1st quarter Other financial and insurance corporations and general government Outstanding credit stood at EUR 94 billion at the end of March 2015 Outstanding

More information

Solutions Guide for Financial Institutions

Solutions Guide for Financial Institutions SOLUTIONS GUIDE Solutions Guide for Financial Institutions Say yes to your customers more often If you want to enhance the lending value of your customer s assets or use our guarantees as security, consider

More information

FINAL TERM SHEET. Scatec Solar ASA Senior Unsecured Bond Issue 2015/2018 (the Bonds or the Bond Issue )

FINAL TERM SHEET. Scatec Solar ASA Senior Unsecured Bond Issue 2015/2018 (the Bonds or the Bond Issue ) 11 November 2015 FINAL TERM SHEET Scatec Solar ASA Senior Unsecured Bond Issue 2015/2018 (the Bonds or the Bond Issue ) ISIN: NO001 075229.8 Issuer: Group: Currency: Borrowing Amount: Coupon Rate: Scatec

More information

Mortgage loans in Italy

Mortgage loans in Italy Brochure More information from http://www.researchandmarkets.com/reports/2139770/ Mortgage loans in Italy Description: This report supplies information on the Mortgage loans Italian market and its competitors:

More information

Balázs Havelda Head of Treasury Department Student Loan Centre +36 1 224 9689 havelda.balazs@diakhitel.hu

Balázs Havelda Head of Treasury Department Student Loan Centre +36 1 224 9689 havelda.balazs@diakhitel.hu Key elements of the Hungarian Student Loan Scheme Budapest, 9 November 2010 Balázs Havelda Head of Treasury Department Student Loan Centre +36 1 224 9689 havelda.balazs@diakhitel.hu The Loan Scheme The

More information

DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016

DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016 DVB Bank posts reasonable consolidated net income before taxes for the first quarter of 2016 Frankfurt/Main, 12 May 2016 During the first three months of 2016, DVB Bank SE (ISIN DE0008045501) generated

More information

Your Logo Here Creative Ways to Finance Your Working Capital Needs. February 22, 2012 2/24/2012

Your Logo Here Creative Ways to Finance Your Working Capital Needs. February 22, 2012 2/24/2012 Your Logo Here Creative Ways to Finance Your Working Capital Needs February 22, 2012 1 Trade Finance Tools Classic Trade Products: Letters Of Credit, Collections, Open Account Enhanced Trade Products:

More information

NORTECHS FPSO ASA BOARD OF DIRECTORS`REPORT 2007 OFFICE TRANSLATION Operations and locations Nortechs FPSO ASA is developing floating production and storage vessels for the oil- and gas industry. The group

More information

2.1.1 Residents are free to undertake any amount of investment in foreign currency assets offered in Malaysia by a resident.

2.1.1 Residents are free to undertake any amount of investment in foreign currency assets offered in Malaysia by a resident. 2. RULES APPLICABLE TO RESIDENTS 2.1 Investment in foreign currency assets 2.1.1 Residents are free to undertake any amount of investment in foreign currency assets offered in Malaysia by a resident. 2.1.2

More information

VIII. Parent company financial statements Credit Suisse (Bank) 339 Report of the Statutory Auditors. 340 Financial review. 341 Statements of income

VIII. Parent company financial statements Credit Suisse (Bank) 339 Report of the Statutory Auditors. 340 Financial review. 341 Statements of income VIII Parent company financial statements Credit Suisse (Bank) 339 Report of the Statutory Auditors 340 Financial review 341 Statements of income 342 Balance sheets 343 Off-balance sheet business 344 Notes

More information

BALANCE OF PAYMENTS AND FOREIGN DEBT

BALANCE OF PAYMENTS AND FOREIGN DEBT BALANCE OF PAYMENTS AND FOREIGN DEBT V 1. BALANCE OF PAYMENTS In 1997, the external current account deficit was 8.1 billion krónur, corresponding to 1. percent of GDP. It declined from 8.9 b.kr., or 1.8

More information

Ship Finance in Asia. Kevin Oates. Managing Director Marine Money Asia Pte. Ltd. 27 th Marine Money Week. June 2014Oates

Ship Finance in Asia. Kevin Oates. Managing Director Marine Money Asia Pte. Ltd. 27 th Marine Money Week. June 2014Oates Ship Finance in Asia Kevin Oates Managing Director Marine Money Asia Pte. Ltd 27 th Marine Money Week June 2014Oates Today s Topics 1. The Growth of Ship Finance in Asia 2. What caused Asian Ship Finance

More information

Erste Group Bank Workshop: Structured Trade Finance in CEE

Erste Group Bank Workshop: Structured Trade Finance in CEE Erste Group Bank Workshop: Structured Trade Finance in CEE Structured Trade Finance in CEE: Topics to be covered What is Structured Trade Finance Is Structured Trade Finance applicable for the markets

More information

EX-IM BANK WORKING CAPITAL GUARANTEE PROGRAM (WCGP)

EX-IM BANK WORKING CAPITAL GUARANTEE PROGRAM (WCGP) EX-IM BANK WORKING CAPITAL GUARANTEE PROGRAM (WCGP) PRIORITY LENDER PROGRAM (PLP) / DELEGATED AUTHORITY LENDER PROGRAM (DALP) CREDIT MEMORANDUM FORMAT (REV. 2/01) A. Request 1. Name of Applicant. 2. Preliminary

More information

BACHELOR OF BUSINESS ADMINISTRATION 2010 EFMD

BACHELOR OF BUSINESS ADMINISTRATION 2010 EFMD BACHELOR OF BUSINESS ADMINISTRATION 2010 EFMD BACHELOR OF BUSINESS ADMINISTRATION The Bachelor of Business Administration programme (BBA) at BI Norwegian School of Management will give you a taste of what

More information

External Commercial Borrowings

External Commercial Borrowings External Commercial Borrowings Neha Gupta Vinod Kothari & Company 1012 Krishna, 224 AJC Bose Road Kolkata- 7000017 Ph: 91-33-22817715/ 22811276 Email: neha@vinodkothari.com What is ECB? Source of funds

More information

The ASLA - Towers Perrin Australian Securities Lending Survey Results

The ASLA - Towers Perrin Australian Securities Lending Survey Results UTRLIN ECURITIE LENDING OCITION CN 054 944 482 GPO Box 1924 ydney, NW 1043 Tel: (612) 9259 5898 www.asla.com.au The L - Towers Perrin ustralian ecurities Lending urvey Results Introduction... 1 Primary

More information

Financing of Renewable Energy in India: Implications for Policy. Gireesh Shrimali Climate Policy Initiative gireesh.shrimali@cpihyd.

Financing of Renewable Energy in India: Implications for Policy. Gireesh Shrimali Climate Policy Initiative gireesh.shrimali@cpihyd. Financing of Renewable Energy in India: Implications for Policy Gireesh Shrimali Climate Policy Initiative gireesh.shrimali@cpihyd.org CPI analyzes the effectiveness of policies relevant to climate change

More information

Buy-to-let Product Guide

Buy-to-let Product Guide Buy-to-let Product Guide Product Highlights 3.05% 2 year fixed 995 fee - 75%LTV Page 4 3.40% 2 year fixed Nil fee - 75%LTV Page 4 3.45% 2 year fixed 1% fee - 80%LTV Page 4 3.70% 5 year fixed 995 fee -

More information

Introducing expanded external lending and debt statistics

Introducing expanded external lending and debt statistics Introducing expanded external lending and debt statistics Crown copyright This work is licensed under the Creative Commons Attribution 3.0 New Zealand licence. You are free to copy, distribute, and adapt

More information

The Norwegian Government Pension Fund Global

The Norwegian Government Pension Fund Global The Norwegian Government Pension Fund Global l Tore Eriksen Paris 1 June 2012 1 Part I The Role of oil & gas in the Norwegian economy 2 Discovery of oil on December 23. 1969; the Ekofisk oil field Foto:

More information

product information revolving buyer credit cover march 2012

product information revolving buyer credit cover march 2012 product information revolving buyer credit cover march 2012 product information revolving buyer credit cover With revolving buyer credit cover, a bank insures repayments due under a loan with a maximum

More information

Export-Import Bank of the United States

Export-Import Bank of the United States Export-Import Bank of the United States Financing Biofuels Exports Craig O Connor Director Environmental Exports Program June 19, 2007 U.S. Bank Independent agency of the U.S. government. Established in

More information

ATOMEX-Europe 2013. 8-9 October 2013, Brno, Czech Republic

ATOMEX-Europe 2013. 8-9 October 2013, Brno, Czech Republic ATOMEX-Europe 2013 8-9 October 2013, Brno, Czech Republic VTB today VTB is a backbone Russian bank, which has built an international financial group. VTB Group possesses a unique international network

More information

NMRC AND THE NIGERIAN MORTGAGE MARKET:

NMRC AND THE NIGERIAN MORTGAGE MARKET: NMRC AND THE NIGERIAN MORTGAGE MARKET: An Intermediate Step to a full Secondary Mortgage Market 2014 CAPITAL MARKET COMMITTEE (CMC) RETREAT & CONFERENCE Sonnie Ayere Interim CEO, NMRC Chairman, Dunn Loren

More information

The Export-Import Bank of the United States Lower Mekong Initiative Renewable and Clean Energy Business Dialogue June 15, 2015

The Export-Import Bank of the United States Lower Mekong Initiative Renewable and Clean Energy Business Dialogue June 15, 2015 The Export-Import Bank of the United States Lower Mekong Initiative Renewable and Clean Energy Business Dialogue June 15, 2015 presented by Raymond Ellis, Vice President Global Business Development Division

More information

While Minimizing Your Risks!

While Minimizing Your Risks! Financing and Increasing Your EXPORT-IMPORT BANK of the UNITED STATES Export Sales Jobs Through Exports While Minimizing Your Risks! What is Ex-Im Bank? The official Export Credit Agency (ECA) of U.S.

More information

MRRA Revolving Loan Program for Tenant Leasehold Improvements and Working Capital. Lending Policies and Procedures

MRRA Revolving Loan Program for Tenant Leasehold Improvements and Working Capital. Lending Policies and Procedures MRRA Revolving Loan Program for Tenant Leasehold Improvements and Working Capital Lending Policies and Procedures Midcoast Regional Redevelopment Authority Mission Statement MRRA was established by the

More information

OPIC Finance Program FAQs

OPIC Finance Program FAQs OPIC Finance Program FAQs Q: What products does OPIC s Finance Program offer? OPIC s Finance Program offers three basic products: 1) Direct Loans, 2) Investment Guaranties Funded by OPIC Certificates of

More information

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165 REPORT FOR Q2 AND THE FIRST 6 MONTHS OF 2015 KEY FIGURES Amounts in NOK million Q2 2015 Q2 2014 30.06.15 30.06.14 2014 Net rental income 501 450 1 005 904 1 883 Fair value adjustments in investment properties

More information

KEY INFORMATION DOCUMENT

KEY INFORMATION DOCUMENT KEY INFORMATION DOCUMENT PSG WEALTH OFFSHORE SHARE TRADING ACCOUNT PAGE 0 This document is a summary of key information about the PSG Wealth offshore share trading account. It will help you understand

More information

NEW MARKETS TAX CREDIT PROGRAM: Subsidized Rate Model. 2008 National Interagency Community Reinvestment Conference April 2008

NEW MARKETS TAX CREDIT PROGRAM: Subsidized Rate Model. 2008 National Interagency Community Reinvestment Conference April 2008 NEW MARKETS TAX CREDIT PROGRAM: Subsidized Rate Model 2008 National Interagency Community Reinvestment Conference April 2008 JPMorgan Chase and the NMTC Program JPMorgan Chase is an active leader in the

More information

Appendix B. Australian Property Institute Valuers Limited (APIV) Insurance Standards (for the APIV Professional Standards Scheme)

Appendix B. Australian Property Institute Valuers Limited (APIV) Insurance Standards (for the APIV Professional Standards Scheme) Standard 1 - Application of the APIV Insurance Standards 1. All members of the APIV must maintain a Professional Indemnity Insurance Policy which at a minimum is compliant with these Insurance Standards

More information

SBA Express Loan Program. www.sba.gov/for-lenders

SBA Express Loan Program. www.sba.gov/for-lenders SBA Express Loan Program SESSION WILL COVER History Lender eligibility issues Program parameters Loan processing Loan closing Practical uses Program Designed to: Increase lender participation Increase

More information

LAW ON FOREIGN EXCHANGE OPERATIONS

LAW ON FOREIGN EXCHANGE OPERATIONS LAW ON FOREIGN EXCHANGE OPERATIONS This Law shall govern: (Consolidated) 1 I. BASIC PROVISIONS Article 1 1) payments, collections and transfers between residents and non-residents in foreign means of payment

More information

Below market rate loans

Below market rate loans Below market rate loans Parent lending to subsidiary Subsdiary lending to parent Loans between subsidiaries Example 1a Example 1b Example 2a Example 2b Example 3a Example 3b Fixed term loan with no demand

More information

October 16 th & 17 th 2012

October 16 th & 17 th 2012 Enterprise Ireland Finance for Growth FX & Export Finance Workshop October 16 th & 17 th 2012 Michéal Doyle Area Head of Commercial Centres - AIB Commercial Banking A Relationship Model Aim to provide

More information

LS No. 2 2011 ACT. Sierra Leone. No. Public Debt Management Act 2010. SIGNED this 14th day of March, 2011. DR. ERNEST BAI KOROMA, President.

LS No. 2 2011 ACT. Sierra Leone. No. Public Debt Management Act 2010. SIGNED this 14th day of March, 2011. DR. ERNEST BAI KOROMA, President. No. Public Debt Management Act 2010 ACT Supplement to the Sierra Leone Gazette Vol. CXLII, No. 13 dated 24th March, 2011 SIGNED this 14th day of March, 2011. DR. ERNEST BAI KOROMA, President. LS No. 2

More information

Bank of Zambia. Bank of Zambia Balance of Payments Monitoring Guide (2013)

Bank of Zambia. Bank of Zambia Balance of Payments Monitoring Guide (2013) Bank of Zambia Bank of Zambia Balance of Payments Monitoring Guide (2013) Bank of Zambia Balance of Payments Monitoring Guide (2013) Document Information AUTHOR VERSION 3.00 PROJECT Bank of Zambia Balance

More information

Economic commentaries

Economic commentaries No. 4 2013 Economic commentaries Monetary Policy The effect of a fall in oil prices on the turnover of Norwegian enterprises An analysis based on Norges Bank s regional network By Anna Sandvig Brander,

More information

Sixty years of sustainable rythm in the Turkish economy. Investor Presentation 2009

Sixty years of sustainable rythm in the Turkish economy. Investor Presentation 2009 Sixty years of sustainable rythm in the Turkish economy Investor Presentation 2009 @ a Glance Ownership 42% İs Bank 50.1% Vakif Bank Free Float 8% Credit Ratings (Jan 2010) Fitch LTFC Moody s LTFC BB+

More information

China Trade & Export Finance Conference Commodity Finance in PRC

China Trade & Export Finance Conference Commodity Finance in PRC China Trade & Export Finance Conference Commodity Finance in PRC JOLYON ELLWOOD-RUSSELL Jolyon Ellwood Russell, Partner James Willcock, Registered Foreign Lawyer Gulong Ren, Legal Officer Agenda Commodity

More information

Loan Capital Formation Strategy of Companies I.D. Anikina*

Loan Capital Formation Strategy of Companies I.D. Anikina* Abstract Loan Capital Formation Strategy of Companies I.D. Anikina* Defines of principles, goals, objectives, stages and factors of loan capital companies. Analyzed the main methods of forming loan capital

More information

Financing and Increasing EXPORT-IMPORT BANK. Export Sales

Financing and Increasing EXPORT-IMPORT BANK. Export Sales Financing and Increasing EXPORT-IMPORT BANK of the UNITED STATES Export Sales Jobs Through Exports What is Ex-Im Bank? The official Export Credit Agency (ECA) of U.S. Government, it is a self-sustaining,

More information

Export Credit and Finance Essentials For Successful Exporters

Export Credit and Finance Essentials For Successful Exporters International Trade Leadership Certificate Series Export Credit and Finance Essentials For Successful Exporters July 17, 2015 1 Alabama Small Business Development Center Network An affiliate of America

More information

FINANCIAL RESULTS Q1 2016

FINANCIAL RESULTS Q1 2016 FINANCIAL RESULTS Q1 2016 CFO Hallvard Granheim 28 th April 2016 Highlights Q1 Increase in underlying results (EBITDA) - Nordic prices are down 15% Q-on-Q - High production from Nordic hydropower assets

More information

Management of equity fund corrective order

Management of equity fund corrective order DNB Asset Management AS Postboks 1600 Sentrum 0021 OSLO c/o Board chair OUR REFERENCE YOUR REFERENCE DATE 14/5784 02.03.2015 Translation as of 13 April 2015. The Norwegian letter was dated 2 March 2015.

More information

15. FOREIGN EXCHANGE ADMINISTRATION POLICIES 15.1 Foreign Exchange Administration Rules Applicable to Residents

15. FOREIGN EXCHANGE ADMINISTRATION POLICIES 15.1 Foreign Exchange Administration Rules Applicable to Residents 15. FOREIGN EXCHANGE ADMINISTRATION POLICIES 15.1 Foreign Exchange Administration Rules Applicable to Residents Residents: Citizens of Malaysia (excluding persons who have obtained permanent resident status

More information

Flashcards for Chapter 6 Introduction to Working Capital Management [ ]

Flashcards for Chapter 6 Introduction to Working Capital Management [ ] Flashcards for Chapter 6 Introduction to Working Capital Management [ ] [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract

More information

UK Export Finance Main Features of the Export Refinancing Facility:

UK Export Finance Main Features of the Export Refinancing Facility: UK Export Finance Main Features of the Export Refinancing Facility: Main Features of the Export Refinancing Facility (ERF) Summary UK Export Finance s Export Refinancing Facility (ERF) will help overseas

More information

CONTACT(S) Koichiro Kuramochi kkuramochi@ifrs.org +44 (0)20 7246 6496

CONTACT(S) Koichiro Kuramochi kkuramochi@ifrs.org +44 (0)20 7246 6496 IASB Agenda ref 12C STAFF PAPER March 2014 IASB Meeting IFRS IC Nov 2013 and Jan 2014 Project Paper topic Narrow-scope amendments to IFRS 10 Consolidated Financial Statements Investment Entities Amendments

More information

Vincent H. Vieten, MBL PO Office of Examination and Insurance MBL. CUNA Lending Council Conference Fort Lauderdale, FL November 9, 2015

Vincent H. Vieten, MBL PO Office of Examination and Insurance MBL. CUNA Lending Council Conference Fort Lauderdale, FL November 9, 2015 Vincent H. Vieten, MBL PO Office of Examination and Insurance MBL CUNA Lending Council Conference Fort Lauderdale, FL November 9, 2015 Credit unions continue to post strong loan growth in first half of

More information

Aker Philadelphia Shipyard (OSE: AKPS) Q2 2014 Results

Aker Philadelphia Shipyard (OSE: AKPS) Q2 2014 Results Aker Philadelphia Shipyard (OSE: AKPS) Q2 2014 Results 17 July 2014 Highlights Second quarter Adjusted EBITDA of USD 4.4 million compared to USD 3.7 million in Q2 2013 Shipbuilding performance in-line

More information

The Bank for Banks. Trade & Export Finance.

The Bank for Banks. Trade & Export Finance. The Bank for Banks. Trade & Export Finance. A partner you can trust. In an increasingly complex and networked financial world, UBS has the scale, experience and expertise to offer other banks and financial

More information

Slovak Republic. From: OECD Banking Statistics: Methodological Country Notes 2010

Slovak Republic. From: OECD Banking Statistics: Methodological Country Notes 2010 From: OECD Banking Statistics: Methodological Country Notes 2010 Access the complete publication at: http://dx.doi.org/10.1787/9789264089907-en Slovak Republic Please cite this chapter as: OECD (2011),

More information

LAW ON FOREIGN EXCHANGE OPERATIONS

LAW ON FOREIGN EXCHANGE OPERATIONS LAW ON FOREIGN EXCHANGE OPERATIONS This Law shall govern: (CONSOLIDATED) 1 I. BASIC PROVISIONS Article 1 1) payments, collections and transfers between residents and non-residents in foreign means of payment

More information

Developing solar in emerging markets

Developing solar in emerging markets Developing solar in emerging markets Swedbank Conference March 17, 2016 Our values Predictable Driving results Change makers Working together Disclaimer The following presentation is being made only to,

More information

FORM OF REQUEST FOR EX-IM BANK APPROVAL

FORM OF REQUEST FOR EX-IM BANK APPROVAL Execution Copy FORM OF REQUEST FOR EX-IM BANK APPROVAL Annex A, 20 Export-Import Bank of the United States 811 Vermont Avenue, N.W. Washington, D.C. 20571 Attention: Re: Vice President - [Responsible Division]

More information

Renewable Energy Finance Fundamentals

Renewable Energy Finance Fundamentals Renewable Energy Finance Fundamentals The US Partnership for Renewable Energy Finance (US PREF) has prepared the following brief summary of the basics of renewable energy project finance. An appreciation

More information

EXTERNAL COMMERCIAL BORROWINGS & TRADE CREDITS. FEMA guidelines provide Indian companies to access funds from abroad by following methods:-

EXTERNAL COMMERCIAL BORROWINGS & TRADE CREDITS. FEMA guidelines provide Indian companies to access funds from abroad by following methods:- EXTERNAL COMMERCIAL BORROWINGS & TRADE CREDITS FEMA guidelines provide Indian companies to access funds from abroad by following methods:- a) External Commercial Borrowings (ECB):- It refers to commercial

More information

Overseas Private Investment Corporation: The U.S. Government s Development Finance Institution

Overseas Private Investment Corporation: The U.S. Government s Development Finance Institution Overseas Private Investment Corporation: The U.S. Government s Development Finance Institution Renewable Resources in Emerging Markets ASIA LEDS FORUM Bangkok 20 September 2012 OPIC Snapshot Established

More information

The experience of an Export Credit Agency Oesterreichische Kontrollbank, Vienna

The experience of an Export Credit Agency Oesterreichische Kontrollbank, Vienna 12 th Meeting of the OSCE Economic Forum Prague, 31 May 4 June 2004 1 Session B 4 Strengthening service and networking capacity of business organizations EF.DEL/2/04 30 May 2004 ENGLISH only The experience

More information

Export Financing with OeKB.

Export Financing with OeKB. Export Financing with OeKB. The optimal way to finance exports and foreign investments. General. The Export Financing Scheme (EFS) of Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) offers various

More information

Chapter 16: Financial Risk Management

Chapter 16: Financial Risk Management Chapter 16: Financial Risk Management Introduction Overview of Financial Risk Management in Treasury Interest Rate Risk Foreign Exchange (FX) Risk Commodity Price Risk Managing Financial Risk The Benefits

More information

Q4 2014 Highlights. 22% revenue growth y.o.y. Unit cost (CASK) increased by 3% y.o.y to NOK 0.43. NOK 0.5 bn loss related to hedges for 2015

Q4 2014 Highlights. 22% revenue growth y.o.y. Unit cost (CASK) increased by 3% y.o.y to NOK 0.43. NOK 0.5 bn loss related to hedges for 2015 Norwegian Air Shuttle ASA Q4 2014 Presentation Q4 2014 Highlights 22% revenue growth y.o.y Driven by long-haul expansion Received three new 737-800 s in Q4 replacing older aircraft 45% growth in ancillary

More information

Funding possibilities for Norwegian companies projects in the Baltics

Funding possibilities for Norwegian companies projects in the Baltics Funding possibilities for Norwegian companies projects in the Baltics Many funding sources for internationalisation Norwegian Nordic *Sample in case an international development in Estonia EU/EEA Norwegian

More information

Trading during difficult times for SMEs. November, 2009

Trading during difficult times for SMEs. November, 2009 November, 2009 Introduction In an effort to support small and medium sized enterprises (SMEs), which constitute the main fabric of the upstream oil and gas supply chain, the Supply Chain Forum of Oil

More information