General Meetings of SFIL bondholders

General Meetings of SFIL bondholders : why ?

The project to extend the benefit of SFIL’s export credit refinancing scheme to credits covered by the guarantee for projects that are strategic for the French economy abroad was announced on March 8, 2018. The decree governing credit insurance and the French loi de finances on the enhanced guarantee came into force in December 2018.
The purpose is to obtain all authorizations allowing SFIL to intervene in this new procedure in the course of 2019.
The purpose of SFIL’s project to extend its export credit activity to this new guarantee is to enable France to provide a financing tool comparable to the best equivalents abroad, in line with the practices observed in major exporting countries, notably in Asia. For SFIL, it represents opportunities for sector diversification, as this new guarantee covers a broader scope, a priori, than the traditional sectors of France’s major exports.
This extension project requires the modification of its corporate purpose, which currently covers credit transactions for the local public sector in France and export credit refinancing operations. It is therefore proposed to replace the reference to export credit refinancing operations by “any transaction that may benefit from a public guarantee”.
Consequently, the Chief Executive Officer of SFIL has decided to convene the General Meetings of SFIL bondholders as part of the amendment of its corporate purpose.