trade finance department - bank gospodarstwa krajowego · trade finance department al....
TRANSCRIPT
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Trade Finance Department
Warsaw, 2016
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
With BGK the future starts today
2
BGK’s mission is supporting social and economic growth of Poland and the public finance sector in the performance of its tasks
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Foreign Trade Support
3 Polish
Development Bank Foreign Trade
Support For whom? Products
Our Client’s transactions
• We support higher-risk markets disregarded by the majority of commercial banks (Africa, Russia, Belarus, Kazakhstan, the Balkans, and many others),
• Our pricing results from the strategy of Polish exports support and reflects the actual cost of capital and accepting the risk,
• We were entrusted with carrying out Government Programme of Financial Support for Exports.
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
For whom?
4 Polish
Development Bank Foreign Trade
Support For whom? Products
Our Client’s transactions
Foreign trade companies seeking for:
• Mitigation of transaction risks by accepting by BGK the insolvency risk
of a contracting party,
• Improvement of liquidity as a result of receiving payment at sight for the sold goods,
• Financial support for a buyer,
• Support for their foreign expansion projects.
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
5
Trade finance and foreign expansion products
Buyer’s bank credit
Buyer’s credit
Purchase of receivables
Foreign Expansion Fund
L/C postfinancing
L/C discounting
L/C confirmation
Guarantees
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
6
Financing based on documentary letter of credit Main characteristics
financing consumption and investment exports, mitigates transaction risk, ensures liquidity
Type indirect financing (based on financial standing of Importer’s bank)
Maximum repayment period
2 years
Available structures
discounting confirming
postfinancing
Countries majority of countries
Currency PLN EUR USD
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Costs of financing based on documentary letter of credit
rate for buyer = rate for buyer’s bank + buyer’s bank margin
Exporter bears costs according to BGK fee schedule, while importer according to the issuing bank’s fee schedule.
*Calculation as of 05.01.2016
Example Tenor of financing: 360 days
Russia, Tunisia
Belarus, Pakistan
Kazakhstan, Azerbaijan,
Nigeria
Serbia, Georgia,
Uzbekistan, Mongolia
EUR USD EUR USD EUR USD EUR USD
Annual cost of credit and insurance* (%)
1.06 2.22 1.68 2.97 1.26 2.47 1.44 2.66
7 Polish
Development Bank Foreign Trade
Support For whom? Products
Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Buyer’s bank credit
Type of credit indirect financing based on financial standing of Importer’s bank
Minimum repayment period
2 years
Amount of credit up to 85% of contract value, min. EUR 1 m
Countries majority of countries
Cost of credit incurred by Importer
Purpose financing exports of investment goods and services
Currency PLN EUR USD
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Costs of financing based on buyer’s bank credit
rate for buyer = rate for buyer’s bank + buyer’s bank margin
CIRR valid from 15.12.2015 r. till 14.01.2016 r. *Rate for debtors whose rating is equal to state rating
Example Repayment period: 5 years
Disbursement period: 1 year
Russia, Tunisia
Belarus, Pakistan
Kazakhstan, Azerbaijan,
Nigeria
Serbia, Georgia,
Uzbekistan, Mongolia
Fixed rate - CIRR (%) – p.a. EUR USD EUR USD EUR USD EUR USD
0.69 2.20 0.69 2.20 0.69 2.20 0.69 2.20
Administration commission (paid annually) (%)
0.7 0.7 0.7 0.7
Minimum KUKE insurance premium for five-year period (paid in lump sum) (%)*
3.55 8.79 5.17 6.72
9 Polish
Development Bank Foreign Trade
Support For whom? Products
Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Purchase of receivables
10
Type of credit financing based on:
Importer’s balance sheet – no recourse, Exporter balance sheet – recource to the Exporter
Amount of credit min. EUR 2 m
Period of financing up to 5 years
Currency PLN EUR USD
Countries majority of countries
Pricing conditions determined individually based on transaction risk profile
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Buyer’s credit
Purpose financing export contracts concluded between a Polish Exporter
and Importer
Type of credit financing based on Importer’s balance sheet
project finance
Amount of credit min. EUR 10 m
Period of financing up to 15 years (including 3 years of availability period)
Currency PLN EUR USD
Pricing conditions agreed individually according to risk profile of the transaction
Securities project assets,
insurance of the Polish ECA (KUKE S.A.) / other ECA
11 Polish
Development Bank Foreign Trade
Support For whom? Products
Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
12
Foreign Expansion Fund (FEZ)
FEZ along with Polish Partners co-finances their foreign subsidiaries implementing foreign expansion projects.
FEZ provides long term financing in the form of capital and loans granted on market conditions.
Co-financing:
up to the amount of Polish Partner’s investment
no minimum amount
usually up to EUR 12.5 m per one project
for the period of 5-7 years
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
13
Foreign Expansion Fund (FEZ)
Capital instruments:
shares with a possibility of future repurchase by the Polish Partner under beforehand known conditions
shares convertible to loans with repayment transfer from the Polish Partner to a foreign Project Vehicle
Debt instruments:
loans secured only with foreign project’s assets, without recourse to the Polish Partner
subordinated, convertible, not secured loans (mezzanine)
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Our Client’s transactions Examples of supported contracts
14
Hotel construction
EUR 44.0 m
Mineral wax plant
EUR 48.2 m
Belarus
Mining equipment
EUR 15.0 m
Mexico
Investment in production plants
EUR 10.0 m
China
Company acquisition
EUR 55.6 m
Great Britain
Construction machines
EUR 1.5 m
Serbia
Parcel lockers network
USD 37.6 m
Canada
Ship construction
EUR 16.0 m
Vacuum furnaces
EUR 2.2 m
Ukraine
Netherlands
Mining equipment
EUR 18.7 m
Mining equipment
EUR 8.0
Russia
Office building modernization
EUR 10.0 m
Russia Belarus Kazakhstan
Polish Development Bank
Foreign Trade Support
For whom? Products Our Client’s transactions
204/204/204
218/32/56
118/126/132
183/32/51
227/30/54
Bank Gospodarstwa Krajowego The State Development Bank of Poland
Trade Finance Department Al. Jerozolimskie 7, 00-955 Warsaw Tel: +48 22 522 92 75 e-mail: [email protected]
Karol Jakubaszek Tel: +48 22 599 83 07 e-mail: [email protected]
Karol Rozenberg Tel: +48 22 522 93 76 e-mail: [email protected]
Joanna Mularczyk Tel: +48 22 596 58 05 e-mail: [email protected]
Elżbieta Bugalska Tel: +48 22 599 83 17 e-mail: [email protected]
Trade Finance Sales Team