Turkey / Caterpillar Japan Hydraulic Shovel Export Project
（Export Credit Line for Yapi Kredi and Insurance for Loans）
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI) has decided to provide insurance for loans used by Borusan Makina Ve Guc Sistemleri Sanayi Ve Ticaret A.S., a Turkish company, to purchase hydraulic shovels from Caterpillar Japan, Ltd.
The loans for the purchase are provided through Yapi ve Kredi Bankasi A.S. (Yapi Kredi), a Turkish commercial bank, based on the export credit line offered to Yapi Kredi in November 20121. Under the credit line, Japan Bank for International Cooperation and a Japanese commercial bank will co-finance the loans of approximately EUR 57.2million.
NEXI’s loan insurance is for the loans provided by the commercial bank, Sumitomo Mitsui Banking Corporation (approx. EUR 28.6 million). It is the second time that NEXI has supported Japanese export to Borusan Makina based on this credit line.
As a Japanese official export credit agency, NEXI will continue to actively support Japanese companies' exports though a wide variety of financial tools.
|Insured||Sumitomo Mitsui Banking Corporation|
|Insured Amount||Approx. EUR 28.6 million|
|Percentage of Cover||Political Risk 100.0% and Commercial Risk 95.0%|
1 Export credit line is a form of export finance in which a certain amount of credit limit is established to promote exports of Japanese goods and equipment.