Cover & spine - Trade Finance

DEALS OF THE YEARCommenting on the tenor of the transaction, Eric Allain des Beauvais, director forthe defence sector in the export finance department at SG, says: “By committing to lendsuch a large amount over such a tenor, SG CIB and its banking partners have showntheir full support to a very significant exporter: Eurocopter. They have alsodemonstrated their trust in Brazil’s sovereign risk quality, and in Brazil’s industrialdevelopment capacity.”Regarding the overall supply contract, Laurent Eurin, director of export finance –Brazil at SG CIB, says: “Out of Brazil, we can consider that this contract and all it entailsis a win-win scenario. France brings support to its aircraft industry and helps secure oneof the biggest helicopter orders ever placed. Nurturing a true production partnershipwith France, Brazil expands the export capacity of its aviation industry by aiding theassembly of helicopter components such as engines and electrical systems. As themandated lead arranger and agent of this transaction, we are particularly proud to havecontributed to the success of the operation.”As far as the exporter is concerned, Jean-Michel Cerf, vice president at customer,project and structured finance of EADS-Eurocopter, comments: “This long termfinancing has been possible thanks to an outstanding support of the French authoritiesand Coface since the beginning of the project, the steady involvement of the banksdespite the crisis, and the skill of the Brazilian and French negotiators.”Another major aspect which shines through in this transaction is how the Frenchbanks, who compete vigorously against each other in most arenas, managed to worktogether completely efficiently on this transaction and its complex arrangement ofpayments.Commenting on the deal at BNPP, Florence Favier, head of export financeAmericas, says: “The strong commitment of ECA core banks allowed Eurocopter toclose this deal. Indeed, at the time of the tender bid in Brazil, there was very littlecapacity available for this long term deal with an eight-year execution period because ofliquidity constraints.” She adds: “This deal reinforces the Eurocopter footprint in LatinAmerica, while extending the capacities of its existing subsidiary in Brazil and givingadditional references for its other clients in the region. An import part of the workinvolved will be performed in Brazil.” ■38 TRADE FINANCE The Guide to Global Trade Finance Markets 2011