Export Refinancing Facility launched

On 30 April 2014 UK Export Finance (the operating name of the Export Credits Guarantee Department) launched a £5 billion Export Refinancing Facility (ERF) to support UK exports.

The ERF will allow UK exporters to offer long-term financing at competitive rates to overseas buyers who require loans in excess of £50 million to purchase UK goods and services in relation to, for example, large-scale construction or infrastructure development projects.

Under the ERF, UK Export Finance will guarantee the repayment of bonds issued by the overseas buyer to refinance the initial bank loan used to fund the project.

This article is filed under:  Industry news

About the contributor

  • Grant Eldred Partner

    Grant is a partner and the head of our Finance Group. He specialises in banking law including bilateral and syndicated secured and unsecured lending, trade finance and banking regulation and compliance.

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