Content-type: text/html Construction firm wins largest Atradius guarantee - GTR International trade and export finance
Trade finance news

Construction firm wins largest Atradius guarantee

Last Updated April 18, 2012
Construction firm wins largest Atradius  guarantee

Construction firm wins largest Atradius guarantee

Dutch construction specialist IHC Merwede has signed a €200mn working capital finance facility with five international banks for the development of two pipe-laying ships.

ABN Amro, BNP Paribas, Deutsche Bank, ING and Rabobank are providing the loan. Credit insurer Atradius is supporting the deal with a working capital guarantee; this is the the largest financing facility covered by the Dutch state.

IHC Merwede will use the proceeds of the facility to construct the pipe-laying vessels for its Malaysian customer SapuraCrest.
The ships are part of a recent offshore order worth €450mn and will install pipelines in Brazilian waters, where large quantities of oil have recently been discovered, ICH Merwede says in a statement.

The delivery dates for the vessels, which will be built in The Netherlands, have been set for May and August 2014 respectively.

Johan Schrijver, chief executive officer of Atradius says: “Our coverage has made a competitive financing package possible, and due to this, the order has been awarded to a Dutch company. This puts our country on the map as an export nation.”



Share This

Reader Comments

Add your comment

 
Email Icon
Follow GT Review on
Twitter for the latest updates

twitter.com/gtreview

GTR's 2014 Insurance Supplement is out now!

The 2014 GTR Asia Supplement is out now!

GTR hosted its annual charity awards dinner in London on April 30. View the photos here.

GTR Leaders in Trade 2013

GTR's Export Finance Supplement is out now! 

Singapore
Singapore - September 9-11, 2014 
Switzerland
Lugano - September 16, 2014 
United States
Los Angeles - October 16, 2014 
Nigeria
Lagos - October 22-23, 2014 
Romania
Bucharest - October 30, 2014