EximBank granted an over Euro 31 Mil Euro letter of guarantee to Astra Vagoane Calatori

Bucharest, February 22 2012 – EximBank granted to Astra Vagoane Calatori a banking counter-guarantee letter amounting at more than Euro 31 Mil that enabled the company located in Arad to participate in an international auction and conclude an export contract of more than Euro 100 Mil.

As per the contract provisions, Astra Vagoane Calatori will deliver to the Brazilian company Vale di Rio Doce – one of the largest in the world- almost 100 passengers’ wagon stations.

”Taking into account the fact that most of Romanian exporters have partners in the European Union where the economic environment is less predictable lately, EximBank has set a priority goal for this year to support the companies to approach non EU markets. The fact that we started the year by signing this important partnership, enables us to believe that we will be successful in supporting the increasing of the extra communitarian commerce, especially due to the fact that our portfolio comprises products covering the whole export flow, starting with the production stage, delivery, and cashing the counter value of the exported goods”, declared Ionut Costea, EximBank President.

The Bank has a wide range of products addressing the exporters’ needs – from financing solutions to cover the production or delivery of goods up to guarantees for credits granted by other banks or insurance against commercial and political risks.

The financing package of the Bank contains standard credits for current activity or investments or specific products under the State aid scheme such are the subsidized interest rate credits or the partial interest rate compensation that allows the recovery of up to 50% of the interest rate paid for investment credits contracted in RON form other commercial banks.

As far as the guarantees are concerned, EximBank offers the Guarantee for export credits (for production purposes, services or other operations related to exports), the Guarantee for general goods and complex objectives (counter guarantees the banking letters of guarantees for participating in international auctions, repayment of advance payments, good execution, aso) or the Guarantees for international operations (for Romanian companies that are planning to operate abroad, expand their existing network by investment projects or buy shares in foreign companies).

EximBank offers as well a highly diversified portfolio of products aiming at mitigate risks – commercial or political – that might occur during international transactions, under the insurance category:
Insurance policy covering the risks of non-payment abroad for non-market risks
Insurance policy for export credits on medium and long term
Insurance policy of Romanian capital investments abroad
Insurance policy of buyer credits.

Additionally, EximBank offers the Credit and Commercial Information – a product that helps companies to get to know their commercial partners before concluding any types of contracts.

Companies interested in EximBank products may address their queries to the territorial units of the Bank or may get information via www.eximbank.ro