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ECA Financing

Export Credit: Credit risk is being covered by ECA (Export Credit Agency)


Financing

Expenses:

The Borrower will reimburse the Lender for all expenses (including legal and trevel expenses) incurred in connection wlth the negotiation and preparation of the Commenial Credit Facility.
Government Law: The a.m. Commercial Credit Facllty Agreement will be governed by the laws of a country, being a member state of the European Union.
Documentation:

The standard documentation for a Commercial Credit Facility.
2. Export Credlt Facility 
Use of Funds: The Export Credlt will be available to meet up to 85 % of the total contract value (export portion).

Currency:

 US-Dollars (USD)
Maximum Amount: approx. USD 17.000.000,00

Drawdown:

In accordance with the payment turms of the export contract. Payments out of the Loan will be made exclusively to the supplier for the account and risk of the Borrower.
Availability Period: Drawlngs agalnst the Export Credit Facility may be made according to the time frame for the rendering of supplies and services supplied from the mentioned export contract from coming into force of Ihe Export Credit Facility up to 24 months (construction period) thereafter.
Mand. Repayment: In up to 10 equal consecutive semi-annual instalments, the first instalment to be due 6 months after issuance of the Provisional Acceptance Certificate (PAC), but in any case not later then 30 months after the effectiveness of the Export Credit Facility in accordance with the regulations of the involved ECA´s.
Interest Rate: 6 months-USD-LIBOR (i.e. 1,17875 % p.a at present) plus a margin of 0,875 % p.a.

The a.m. interest rates are due and payable seml-annually in arrears, free of all taxes and duties, on the drawn down balance of the Export Credlt outstanding from time to time. Interest shall be computed on the basis of the actual number of clays elapsed and a year of 360 days. The first interest payment will take place 6 months after the first drawdown date.
Default Interest: At a rate to be agreed upon will be payable on overdue and unpaid prlncipal, interest and costs in accordance with the Export Credit Facillty.
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