Index Official financial instruments to support the internationalization of Spanish companies

Transcription

1 Spanish FIEM Fund

2 Index Official financial instruments to support the internationalization of Spanish companies FIEM: basic characteristics financial conditions Examples of FIEM projects Contacts

3 1.- Official financial instruments to support the internationalization of Spanish companies 1 2 Equity and quasi-equity Credit CARI/FIEM FIEX/FONPYME 3 Assurance

4 Index 2 FIEM: BASIC CHARACTERISTICS FINANCIAL CONDITIONS

5 2.-FIEM BASIC CHARACTERISTICS Supports: exports of goods and services direct investment Origin in FAD (FIEM since January 2011), improved and extended Subject to the Arrangement on Officially Supported Export Credits (OECD Consensus) Approval: FIEM Committee. Council of Ministers Financial Agent: ICO

6 2.-FIEM BASIC CHARACTERISTICS Contractors: Spanish companies (wide interpretation) Beneficiaries: Non-resident public or private entities Guarantees: Sovereign, sub-sovereign, private, project finance... Excluded sectors: Health, basic education and defense, paramilitary and police equipment Eligible countries: case-by-case basis

7 2.-FIEM Financial Conditions Financing in commercial terms Interest rate: CIRR + CESCE equivalent premium Funding limits established by OECD consensus Repayment terms: up to 8.5 years for developed countries. Upper limits for certain sectors OECD Commercial interest rate CIRR (monthly validity) CIRR rates currently valid (15 Feb. -14 Mar. 2017):

8 2.-FIEM Financial Conditions Tied concessional (soft) financial support Restricted to lower-middle income countries according to World Bank's classification Minimum Concessionalitylevel (grant element): 35% Least developed countries (LDCs): 50% minimum HIPC countries: Financing is possible, but exceptional Special Financing lines for studies: EVATIC

9 2.-FIEM Financial Conditions Senior debt, FIEM does not participate in equity Independent analysis (due diligence) Guarantees for the operation: Country Public or Private debtor Project (project finance) Currency: Mainly Euro or USD (the law allows exceptionally other currencies)

10 Balance FIEM leverage effect from 2011 to The total amount of FIEM credits approved in the period amounts to million (in green) The value of the contracts linked to these funding amounts to million (in blue)

11 Index 3 Examples of FIEM projects

12 3.-PROJECTS Sadara Petrochemical plant in Saudi Arabia - Exporter: Técnicas Reunidas - Participation in the construction of 3 petrochemical plants in JIC (Jubail Industrial City), the largest industrial center in Middle East - FIEM Credit: 300 million USD with Project Finance guarantee

13 3.- PROJECTS CERCIKAYA IN TURKEY - Exporter: Acciona Windpower - Full supply of turbines for a wind farm of 57 MW in the region of Cercikaya in Turkey - FIEMcredit:19million EUR

14 3.-PROJECTS CONSTRUCTION AND EQUIPMENT OF THREE LABORATORIES QUALITY CONTROL OF FISHERY PRODUCTS IN KENYA Engineering and building equipment and training of personnel involved in the production and handling of fish and laboratory Contract between MAKIBER and Kenyan Ministry of Fisheries. Sovereign guarantee Concessional financing: 5.7 million

15 3.-PROJECTS DRIVING SIMULATOR FOR DRIVING SCHOOLS IN BRAZIL - FIEMCredit of32 M.Bankfinancing of14,4m - Project Finance Guarantee and additional ones such as: - Corporate Guarantee from Everis Spain S.L.U. - Pledge on the income of Pro simulador - Driving simulators as guarantee to mitigate the risk of Exchange rate. - Key element of the Demand Analysis: the use of the driving simulators is compulsory according to Brasilian law

16 3.-PROJECTS CONSTRUCTION AND OPERATION OF A GAS PIPELINE IN MEXICO - Debtor: Pipeline of Morelos (SPV composed by Elecnor, Elecnor México and Enagás) - FIEM Credit of 50 M de $ - Contract awarded by International Tender - Contracts: Gas transport withthe Federal Electricity Commission, Interconnection with PEMEX, ConstructionwithElecnor México, O&M with Elecnor y Enagás

17 3.-Projects PLASTIC INJECTION FACTORY FOR PRODUCING HANGERS AND AUTOMOBILE COMPONENTS IN INDIA - Developer: Plásticos Erum, SME leader in the manufacture of hangers - Clients: INDITEX, H&M, El Corte Inglés, Decathlon, Carrefour, Hugo Boss etc. - Investment of

18 Index 4 Contacts

19 Contacts Ministry of Economy, Industry and Competitiveness Paseo de la Castellana, , Madrid, España Deputy Directorate for Financial Development for Internationalization. Deputy Directorate for Trade Policy for Mediterranean Countries, Africa and the Middle East. Deputy Directorate for Trade Policy for South America and North America countries. Deputy Directorate for Trade Policy for Europe and Asia Pacific.

20 THANKS FOR YOUR ATTENTION