Export-Import Bank of the United States · ¾ Ex-Im Bank is an independent agency of the United...
Transcript of Export-Import Bank of the United States · ¾ Ex-Im Bank is an independent agency of the United...
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EXPORT-IMPORT BANKEXPORT-IMPORT BANKof the UNITED STATESof the UNITED STATES
Financing Opportunity Worldwide
Methane to MarketsMethane to Markets
MinisterialMinisterial MeetingMeeting
Washington DCWashington DC November 15-17November 15-17
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Who We Are — What We DoWho We Are — What We Do
¾ Ex-Im Bank is an independent agency of the United States � Established in 1934
� Headquartered in Washington, DC
� 7 sales offices
¾ Mission: Support U.S. exports in order to create and sustain U.S. jobs
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Total Authorizations in $ billionsTotal Authorizations in $ billions
10
8
6
4
2
0FY 2000 FY 2001 FY 2002 FY 2003
Loans Guarantees Insurance
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Policies and RestrictionsPolicies and Restrictions
¾Foreign Content
¾Military Goods
¾Restricted Countries (political or economic)
¾Creditworthiness
¾Environmental Impact
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Coverage in Over 150 CountriesCoverage in Over 150 Countries
¾Ex-Im conducts business in many countries throughout the world
¾Restrictions may apply for political or economic conditions
¾First step, check the Country Limitation Schedule (CLS) on the Web.
¾X means support is not available
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Ex-Im Bank Strategy in RussiaEx-Im Bank Strategy in Russia
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Authorizations in RussiaAuthorizations in Russia
250
200
150
100
50
02000 2001 2002 2003 2004
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Ex-Im Bank PortfolioEx-Im Bank Portfolio
¾Sovereign
¾Oil and Gas
¾Mining
¾Bank Program
¾Other
¾20%
¾52%
¾8%
¾14%
¾6%
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Oil and GasOil and Gas
�Oil and Gas Framework Agreement (OGFA) signed 1993
�$1.1 billion financed using secured offtake revenues
�Going forward – positive changes to Russian legislation governing mandatory repatriation of export earnings will allow for more structured transactions
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Russia: BankingRussia: Banking
¾Ex-Im is willing to accept the commercial risk of eligible Russian banks
¾Any creditworthy Russian bank may apply
� National and regional banks
¾FY 2004 10 new projects, $100.0 mm
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UkraineUkraine
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UkraineUkraine� Ex-Im Bank re-opened in 2001
� All Sectors (Short and Medium)
� OECD upgrade to Fee Level “6”
�Banking Sector
�3 Transactions approved with Nadra and Privat Bank
�Sectors: Agriculture, Telecom, Power
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KazakhstanKazakhstan
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KazakhstanKazakhstan
�Ex-Im Bank open for all tenors and sectors
�Fastest growing Ex-Im Bank market
�FY 2003: $76.0 million
�Sectors: �Telecom �Transportation �Agriculture �Power
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Kazakhstan: Recent ProjectsKazakhstan: Recent Projects
�Transtelecom
�Alpina Communications (Lucent)
� 1200 km Fiber optic infrastructure
�Corporate Basis – Balance Sheet of Transtelecom
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Kazakhstan: Recent ProjectsKazakhstan: Recent Projects
¾ Kazakh Temir Zholy (KTZ)�Phase 1: $32.0 million for sale of 54 locomotive
modernization kits
�GE Transportation Systems (Exporter)
�Phase II (approved October 2004) �$122 million
¾ Lease Structure; No Sovereign Guarantee
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AzerbaijanAzerbaijan
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AzerbaijanAzerbaijan
¾ Ex-Im Bank is open for all sectors and tenors (except long-term private)
¾ Recent upgrade to Fee level “6”
¾ $177.0 million in New Authorizations
� Baku-Tbilisi-Ceyhan (BTC) Pipeline
� $17.0 million for International Bank of Azerbaijan for construction of business center
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Environmental Exports ProgramEnvironmental Exports ProgramEnvironmental Exports Program
¾ Support for environmentally-beneficial exports mandated in Ex-Im Bank’s Congressional Charter.
¾Environmental projects are offered enhancements:
� Maximum OECD repayment term for Long-Term Loans and Guarantees of 10-12 years after project completion.
� Capitalization of interest during construction.
� Up to 15% local cost support within the U.S. scope of supply.
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Environmental Exports ProgramEnvironmental Exports Program
¾ RESULTS: Transactions approved under the Program have grown from 13 in 1994, to 71 in 2003, totaling over $1.5 billion.
¾ Strong partnerships with Departments of Commerce, Ecolinks, EPA, USAID and trade associations.
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Case Study: Tire Recycling in MexicoCase Study: Tire Recycling in MexicoCase Study: Tire Recycling in Mexico
¾ Sorbilite, Inc. of Virginia Beach, VA is using Medium-Term Insurance to arrange financing for the export of a $2.35MM tire recycling facility.
¾ Refaccionaria Valati, S.A. of Ciudad Juarez purchased the facility to recycle used tires into saleable items (rubber mats, moldings,etc.)
¾ Maximum allowable OECD repayment term of 7-years
¾ Wells Fargo Bank made the loan at an all-in-cost under 5% per year
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Case Study: ChinaCase Study: China
¾ Ex-Im Bank enabled Daisibi Environmental Corp. to win a $5.2MM contract for air quality monitoring stations in 11 Chinese cities.
¾Ex-Im Bank supported enhancements:� maximum allowable OECD repayment term of 10
years
� capitalized interest during construction
� 15% local cost.
¾ Loan made to the China Construction Bank which acted for China’s State Environmental Protection Agency.
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EX-IM BANK DEFINITION:EX-IM BANK DEFINITION:Limited Recourse Project FinanceLimited Recourse Project Finance¾ Greenfield or project expansion
¾ Repayment of debt from project’s cash flows
¾ No requirement of a direct sovereign guarantee
¾ No country or project dollar limits
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PROJECT STRUCTURE PROJECT STRUCTUREPROJECT STRUCTURE
Host Government
Input Contracts
SPV “Sponsors”
Off Take Contracts
EPC O&M
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SPECIAL OPTIONS OFFEREDSPECIAL OPTIONS OFFEREDSPECIAL OPTIONS OFFERED WITH PROJECT FINANCEWITH PROJECT FINANCEWITH PROJECT FINANCE
Q Local Cost Financing
Q Capitalized interest during construction
Q Maximum credit terms allowed by OECD
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EX-IM BANK PROJECTEX-IM BANK PROJECT FINANCE RESULTSFINANCE RESULTS
¾35 projects
¾$10 billion financed
¾$40 billion total project costs
¾7 new projects under review
¾Power
¾Oil & Gas
¾Mining
¾Telecom
¾Petrochemicals
¾Manufacturing
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Contact InformationContact Information
¾Paul Tumminia
¾Director Russia, CIS and Turkey
¾202-565-3413
www.exim.gov