Finnish Export Credit Ltd (FEC) provides financing on OECD terms for long term export and ship credits. Finnvera’s Buyer Credit Guarantee or Ship Guarantee is always a prerequisite for the credit.
FEC may finance the OECD term credits in euros or United States dollars. The interest rate of the credit is either a floating rate (Euribor or USD Libor) or a fixed rate (CIRR determined by OECD).
The bank arranging the credit, other banks participating the financing arrangement and the borrower sign a credit agreement that the bank transfers to FEC for financing. The bank arranging the credit is responsible for documentation and shall administrate the credit and Finnvera’s guarantee throughout the entire life of the credit.
FEC charges the borrower a case-specific margin above the base rate, a commitment fee and a handling fee for renewing the offer.
FEC has signed a co-operation agreement with following financial institutions:
ABN AMRO Bank N.V.
AKA Ausfuhrkredit-Gesellschaft m.b.H
Banco Bilbao Vizcaya Argentaria S.A.
Banco Santander S.A.
Barclays Bank Plc
Citibank International Limited
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.
Jyske Bank A/S
KfW IPEX-Bank GmbH
Mizuho Bank Ltd.
Nordea Bank Finland Plc
Raiffeisen Bank International AG
Skandinaviska Enskilda Banken AB (publ)
Standard Chartered Bank
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation Europe Ltd
Svenska Handelsbanken AB (publ.)
The Bank of Tokyo-Mitsubishi UFJ, Ltd
The Hongkong and Shanghai Banking Corporation Limited
The Royal Bank of Scotland Plc
The Standard Bank of South Africa Limited
UniCredit Bank AG
UniCredit Bank Austria AG