Gomelglass wins Trade Finance’s Deal of the Year award

Date: 8 July 2009
Source: Gomelglass
A financing project of the Gomel-based glassware manufacturer Gomelglass has won Deal of the Year award of the Trade Finance Magazine, Belagroprombank representatives told BelTA.

The €96.6 million project provides for starting up the production of polished glass sheets by Gomelglass.The deal was crosslinked via Belagroprombank as part of a €98.9 million individual credit agreement signed by Belagroprombank, AKA Ausfuhrkredit-Gesellschaft mbH and BHF-Bank Aktiengesellschaft on conditions stipulated by the national export credit insurance agency Euler Hermes (Germany).The deal is the largest one on the Belarusian market in the area of attracting long-term financing using coverage of insurance agencies.The insurance coverage decision was made by Euler Hermes outside of Belarus’ country limit. The sum of the deal itself essentially exceeds the country limit.

Both financing conditions (the loan repayment term is set at ten years) and the structure of the deal, which provides for escrow payments, are unique. It is important that the financing is attracted without giving Belarusian government guarantees to the foreign bank.

The Trade Finance Magazine (Euromoney Group) awards companies and credit and financial institutions on an annual basis for the development and utilisation of trade financing innovative structures in several nominations.

600450 Gomelglass wins Trade Finance’s Deal of the Year award glassonweb.com
Date: 8 July 2009
Source: Gomelglass

See more news about:

Others also read

We sincerely thank all our members, friends and visitors for being part of GlassOnWeb and its success during 2009.
For further upscaling, the plant has provision for a second float line which can support an additional 850 tonnes per day.  With an aim to further strengthen its leadership position in the glass industry, the Rs15bn.
During the annual Dujat December Dinner on Thursday 10 December 2009, Minister for Economic Affairs, Ms.
A prestigious international prize states the poetic beauty and the architectural value of “Tiberio's Baths” in Panticosa (Spain), the new health and wellbeing centre in the heart of the Spanish Pyrenees made entirely using special glass blocks with a trapezoidal section.
A team of researchers from the University of Vigo, Rutgers University in the United States and Imperial College London, in the United Kingdom, has developed "laser spinning", a novel method of producing glass nanofibres with materials.
Chicago — December 17, 2009 — Designers and engineers examined the product pages on Inventables.com nearly one million times in 2009 in hopes of finding the right materials or technologies for their projects.

Add new comment