Gomelglass has won Deal of the Year award of the Trade Finance Magazine, for a project valued at EUR 96.6 million which provides for production start-up of polished glass sheets.
The deal, which is t…
Gomelglass has won Deal of the Year award of the Trade Finance Magazine, for a project valued at EUR 96.6 million which provides for production start-up of polished glass sheets. The deal, which is the largest one on the Belarusian market in the area of attracting long-term financing using coverage of insurance agencies, is part of a EUR 98.9 million individual credit agreement signed by Belagroprombank, AKA Ausfuhrkredit-Gesellschaft mbH and BHF-Bank Aktiengesellschaft. The insurance coverage decision was made by export credit insurance agency Euler Hermes (Germany), outside of Belarus“ country limit, since the sum of the deal itself essentially exceeds the country limit. Both the structure of the deal, which provides for escrow payments, and financing conditions (the loan repayment term is set at ten years), are unique. Companies and credit and financial institutions are awarded on an annual basis for the development and utilization of trade financing innovative structures in several nominations by The Trade Finance Magazine (Euromoney Group).