Export stakeholders

Export stakeholders

  • Export stakeholders

The essential

  • SFIL, a performing set-up to enhance French exports competitiveness

    Since May 2015, SFIL has refinanced major export credit agreements. This activity authorized by the European Commission, was given to SFIL by French State to improve French exports competitiveness.

  • Key figures

    • 23 banks partners
    • 8 concluded deals
    • 5B€ closed refinancing
  • News

    • 2017 full-year results reflect SFIL’s success and confirm the relevance of its model
      24 April, 2018

      On the publication of its 2017 full-year financial report, SFIL reported net income of EUR 54 million, triple the 2016 figure. This outstanding performance is the result of the SFIL group’s sound management of its two missions to serve the French economy: refinancing the local public sector and export refinancing. It also bears witness to the strength and pertinence of the group’s public development bank model, a specific model which is now recognized by the public authorities.

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    • French export credit refinancing scheme
      24 April, 2018

  • SFIL’s export credit set-up:
    the combination of 3 expertizes for the benefit of the borrower

    – Structuration: top arranging banks selected by the borrower via a competitive process

    – Credit risk: Bpifrance Assurance Export insurance policy with the guarantee of the French Sovereign

    – Liquidity: additional capacity brought by SFIL at very competitive terms

    SFIL: a booster to improve competitiveness

  • Benefits of SFIL set-up

    The set-up contributes to improve the quality of French export offer in terms of:

    Amount

    We provide liquidity in addition to banking capacities without any limit on amount per project
    3 billion EUR expected average annual contribution

    Maturity

    We intervene on maturities up to 30 years, including:
    1) construction period
    2) amortization period
    (on the basis of OECD Arrangement limits)

    Cost

    The impact on the prices is due to:
    1) SFIL’s exceptional access to international capital markets
    2) the increase in number and volume of competitive offers from the banks

    Without SFIL, the biggest French shipyard could not simultaneously implement 4 billion euros commercial contracts

    STX France, December 16th 2016
  • Intervention conditions

    SFIL’s intervention is aimed at projects under negotiation:

    • From all sectors and all countries
    • Amounting to 70 million euros and above
    • Financing France based exporting companies and therefore eligible to Bpifrance Assurance Export’s credit insurance
    • Meeting the European Commission’s requirements

    For each project, SFIL has to comply with the European Union’s requirements, including:

    • Transferring  a portion of the credit to SFIL must be carried out within 3 months following the export credit signature.
    • The borrower or exporter must state how many banks were consulted for the transaction.

    1st case: the borrower or exporter consults banks in order to select the pool of initial lenders

    The number of banks consulted to be initial lenders must reach (number of banks refinanced by SFIL + 1) for nuclear, defense or projects above 500 million euros or (number of banks refinanced by SFIL + 2) for all other projects.

     

    2nd case: the borrower or exporter consults banks in order to select the arranging bank(s) to syndicate the loan

    The number of banks consulted to arrange and syndicate the loan must reach (number of arranging banks + 1) for nuclear, defense or projects above 500 million euros or (number of arranging banks + 2) for all other projects.

     

    Specific case with a unique lender: the number of banks consulted by the exporter or the borrower for that project must reach 2 for nuclear, defense or projects above 500 million euros or 3 for all other projects.

    More details on: http://ec.europa.eu/competition/state_aid/cases/257147/257147_1665498_189_2.pdf (page 21 – article 1.4)

  • Steps to get refinancing from SFIL

  • A close cooperation with banks for the benefit of the French industry and their customers