Public stock company Joint Stock Commercial Industrial & Investment Bank (PSC Prominvestbank) Trade & Structured Finance

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1 Public stock company Joint Stock Commercial Industrial & Investment Bank (PSC Prominvestbank) Trade & Structured Finance 1

2 From its very foundation the Bank is one of the largest Ukrainian banks and in 2010 it has been honoured as one of the most important financial institutions for the country s development. Prominvestbank is also among the largest and most reliable creditors to the Ukrainian economy having invested throughout the years of independence (1991-present days) more than USD 60 billion into various branches of the economy ranging from agriculture sector to aircraft construction. 90 years of experience of servicing corporate clients Positive image in the international markets Broad range of branches all across the country Vast experience of co-operation with leading European and American banks Top 10 Ukrainian bank Subsidiary of Vnesheconombank (one of the largest Russian banks) Correspondent network enabling fast and high quality settlement of payments A team of professionals which will help you to elaborate a trade finance instrument which best suits the needs of every individual trade finance-related project of a customer 2

3 PROMINVESTBANK S TRADE FINANCE FACILITIES Short term financing (from days up to 1 year) Pre-export/ Post-export Financing Post-import Financing (DP LC with discounting, LC with postfinancing) usually applied for readily marketable staples (raw materials, commodities, consumables, spare parts, different types of equipment) Medium term financing ( from 1 to 3 years) Post-import Financing (DP LC with discounting, LC with post-financing) used for financing different types of equipment with repayment cycle not more than 3 years Long term financing (up to 3 5 years) Import Financing employed for import financing of equipment with long-term self-repaid period and long manufacturing process 3

4 TRADE FINANCE INSTRUMENTS Trade Finance solutions involve structuring facilities using a combination of the Prominvestbank s products to satisfy customer requirements DOCUMENTARY LETTERS OF CREDIT (L/C) sight payment L/C deferred payment L/C with discounting sight L/C with post-financing STAND BY LETTERS OF CREDIT (SBLC) GUARANTEES payment guarantees advance payment guarantee loan repayment guarantee IMPORT FINANCING OF CAPITAL GOODS & EQUIPMENT short term (PIB s bilateral loans facilities with foreign banks) long term (financing under ECA) 4

5 LETTERS OF CREDIT IN BRIEF LCs are not only the standard method of payment for foreign business transactions in many countries, but also efficient tool for financing of the underlying deal Letters of credit are useful for both parties - exporter and importer. Exporter can be credited with the LC-amount shortly after the dispatch of the goods and on presentation of the stipulated documents Importer can ensure that payment will be effected only if the documents proving the shipment of the merchandise are in strict conformity with the required L/C terms Deferred payment L/C allows the exporter to provide his counterparty with delay in payment. At the same time the possibility to discount shipping documents by the exporter s bank enables exporter to raise funds far before maturity L/C with post-financing clause has very similar structure, but another mechanism of realization. L/C issued by the importer s bank is available by sight presentation with exporter s bank. L/C terms contain financing instructions to the exporter s bank from the issuing bank and stipulate repayment on agreed maturity 5

6 Advice of LC Request to discount shipping documents before maturity Discounting under LC before maturity Application for LC with deferred payment issue Shipping documents Payment at maturity DEFERRED PAYMENT LC WITH DISCOUNTING LC with deferred payment FOREIGN BANK Shipping documents Payment at maturity EXPORTER Purchase contract Shipment IMPORTER 6

7 Advice of LC Complying presentation of shipment documents Payment under LC Application for sight LC issue + Agreement for post-financing Shipping documents Informing of post-financing provided Repayment at maturity LC WITH POSTFINANCING Sight LC with request for post-financing + Agreement (if necessary) FOREIGN BANK Shipping documents Informing of post-financing provided Repayment at maturity EXPORTER Purchase contract Shipment IMPORTER 7

8 GUARANTEES /SBLCs IN BRIEF Advance payment guarantees allow Exporter to receive an advance before the shipment (or start of production) of the Goods, and provide security to Importer of the advance refund in case of Exporter s default of his Contract obligations in terms of shipment Payment guarantees provide financial security to the foreign exporter should Ukrainian importer fail to make payment for the goods or services supplied. Therefore this type of guarantees enables Ukrainian company to avoid premature withdrawal of working capital and to accumulate funds for timely payment at maturity SBLCs are applicable in import-export business, primarily with the American and frequently in the Far East as well, or wherever the contracting parties decide to use this form as a security instrument. Usually the same types of SBLCs as the guarantees are used 8

9 Advice of Guarantee/SBLC Application for guarantee / SBLC issue ADVANCE PAYMENT GUARANTEE/SBLC FOREIGN BANK Advance payment Guarantee/SBLC IMPORTER Purchase contract Advance Payment EXPORTER Delivery 9

10 Advice of Guarantee/SBLC Application for guarantee/sblc issue PAYMENT GUARANTEE/SBLC FOREIGN BANK Payment Guarantee/SBLC EXPORTER Purchase contract Delivery IMPORTER Payment 10

11 FINANCING IN BRIEF Export credit agencies (ECAs) have been established by governments in the most developed markets specifically for the purpose of furthering their export trade flows. ECAs provide a variety of different insurance or guarantee products to support financing for specific export contracts, overseas investments and, on an untied basis, in other strategic or competitive bidding situations often on more advantageous terms than would be available on a standalone basis Advantages of ECA covered transactions long repayment periods (including a grace period) fixed interest rate options available security of payments for exporter significant importer s country risk mitigation (up to 95%) cover is available in most convertible currencies 11

12 (11) Payment (10) Shipment documents (5) Loan agreement (7) Application for L/C/guarantee issue (12) Advice of Loan provided (13) Repayment ECA COVERED FINANCING FOREIGN BANK (13) Repayment (12) Advice of Loan provided (8) L/C/guarantee for 85% contract value (4) Master Credit Agreement EXPORTER (1) Purchase contract (6) 15% advance payment (9) Shipment IMPORTER 12

13 OUR TRADITIONAL PARTNERS IN TF We cooperate with many foreign banks in TF business, but the closest and long-term cooperation in the field has been established with the following banks: We are constantly working on enhancing our partner banks in trade financerelated area representing different parts of the world Bank of New York Mellon JP Morgan Chase Bank NA Citibank NA Wells Fargo Bank NA Deutsche Bank AG Commerzbank AG Credit Suisse UBS AG Crédit Agricole CIB Nordea Bank Finland Plc SMBC BNP Paribas SA Banca Nazionale del Lavoro SpA Intesa Sanpaolo SpA Landesbank Berlin AG Rabobank, International UniCredit Group Bank of Tokyo-Mitsubishi UFJ Ltd Sumitomo Mitsui Banking Corporation Promsvyazbank, Russia VTB, Russia Novikombank, Russia 13

14 CONTACTS Trade and Structure Finance Foreign Economic Affairs Department +38 (044) Director of Department Maksym Kyrychenko +38 (044) Deputy Director of Department Nataliya Kovtun Head of TSF Diana Lemesh +38 (044) (044) Nataliya Zhidchenko +38 (044) Svetlana Sayapina +38 (044) Alina Bogoslavets +38 (044) Konstantin Motora +38 (044) Yulia Glinskaya +38 (044) (ext. 2553) Project Manager of Foreign Economic Affairs Department Alexander Maly

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