Search finnvera.fi

Financing of Export Credits

Back

Financing of Export Credits

Under the FEC financing scheme Finnish Export Credit Ltd (FEC) provides financing for long term export and ship credits to ensure the competitiveness of Finnish exporters.

FEC and the financial institution arranging the credit will enter into a co-operation agreement prior to the first financing transaction. Supplemental agreements will be made in connection with every single transaction. By such supplemental agreements the credit will be assigned and transferred to FEC.

The financial institution has an important role in the arrangement of financing an export transaction and thus the financial institution is required to  have an investment grade credit rating for its long term funding and sufficient knowledge and experience in arranging and financing officially supported export credits. FEC has signed co-operation agreements with a number of financial institutions.

Transactions financed by FEC shall meet the criteria of the OECD Arrangement.

FEC financing is always covered by a guarantee issued by Finnvera.

For further information, please contact Finnvera’s personnel in Export Financing.

Links:

Main Terms of FEC Financing

The credit is arranged by a financial institution and assigned to FEC upon signing of the credit agreement. The financial institution is responsible for documentation and shall administrate the credit and Finnvera’s guarantee throughout the entire life of the credit.

FEC may finance the OECD term credits in euros or the United States dollars. The interest rate of the credit is either a floating rate (Euribor or USD Libor) or a fixed rate (CIRR). FEC charges a margin above the base rate chosen by the borrower.

FEC charges a handling fee and a commitment fee according to its policies.

How to apply for FEC Financing

FEC financing can be applied for by the exporter or the mandated financial institution for and on behalf of the exporter or the buyer. Application for FEC financing must be filed before the supply contract is signed.

FEC financing is applied for by an application which is sent to applications.eca (at) finnvera.fi.

Attachments

Co-operational banks

FEC has signed a co-operation agreement with following financial institutions:

ABN AMRO Bank N.V.

Banco Bilbao Vizcaya Argentaria S.A.

Banco Santander S.A.

Barclays Bank Plc

Citibank International Limited

Citibank N.A.

Credit Agricole Corporate and
Investment Bank Helsinki Branch

Credit Suisse AG

Danske Bank A/S

Deutsche Bank AG London Branch

DNB Bank ASA

Fortis (BNP Paribas) SA/NV

HSBC Bank Plc

HSBC Bank USA, N.A.

ING Bank N.V

JPMorgan Chase Bank, N.A.

KfW IPEX-Bank GmbH

Nordea Bank Finland Plc

Raiffeisen Bank International AG

Societe Generale

Sparebanken Vest

Standard Chartered Bank

Svenska Handelsbanken AB (publ.)

The Bank of Tokyo-Mitsubishi UFJ, Ltd

The Hongkong and Shanghai
Banking Corporation Limited

The Royal Bank of Scotland Plc

UniCredit Bank AG

UniCredit Bank Austria AG

Switchboard

029 460 11 (weekdays 9:00 a.m. and 4:15 p.m.)

Financial advice

029 460 2582 (weekdays 9:00 a.m. and 4:15 p.m.)

Changes to payment programmes

029 460 2790 (weekdays 9:00 a.m. and 4:15 p.m.)

Other services

029 460 2791 (weekdays 9:00 a.m. and 4:15 p.m.)

Helsinki Headquarters

Eteläesplanadi 8

PL 1010, 00101 Helsinki

Kuopio Headquarters

Kallanranta 11

PL 1127, 70111 Kuopio

All contact information