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Embraer Concludes First 'Pure Cover' Brazilian Export Credit Line - The Company is proud to announce the formation of a new structure to finance aircraft sales
Embraer Concludes First 'Pure Cover' Brazilian Export Credit Line

 

NewswireToday - /newswire/ - São José dos Campos, São Paulo, Brazil, 2011/01/18 - The Company is proud to announce the formation of a new structure to finance aircraft sales. NYSE: ERJ; Bovespa: EMBR3

   
 
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With this custom-made structured transaction, the lender benefits from a 100% guarantee of the Guardian Authority issued by the Secretary of Foreign Affairs (SAIN), from the Brazilian Finance Ministry, through the Brazilian Export Credit Insurance Agency (SBCE), which manages the export credit guarantee system on behalf of the Brazilian Government.

An EMBRAER 190 jet was delivered to Saudi Arabia’s budget airline nasair, last December, with Natixis Transport Finance acting as the Mandated Lead Arranger of this first aircraft financed by the structure. This is the first guaranteed (“pure cover”) Brazilian export credit transaction signed with a foreign commercial bank. All legal support of the transaction was given by Clifford Chance LLP.

“This financing structure will further enhance the credit available to Embraer customers, since it increases access to international financing institutions, as well as to a broader range of investors in capital markets. We welcome Natixis, a major player in aircraft financing, and congratulate them for the very first export transaction guaranteed by the Brazilian Government,” said Paulo César de Souza e Silva, Embraer Executive Vice President, Airline Market.

About Natixis
Natixis (natixis.com) is the corporate, investment, and financial services arm of the BPCE Group, the second largest bank in France, with 22% of total bank deposits and 37 million clients spread over two networks: Banque Populaire and Caisse d’Epargne. With around 22,000 employees, Natixis has a number of areas of expertise, which are organized into three main business lines: corporate and investment banking, investment solutions (asset management, private banking, and insurance), and specialized financial services. Natixis Transport Finance, a wholly owned subsidiary of Natixis, is specialized in aircraft financing.

About nasair
Launched in the Kingdom of Saudi Arabia in February 2007, nasair (flynas.com) has transported more than 4 million passengers and is a pioneering airline, based on its four core values: Being on Time, Competitive Fares, Young Fleet, and Smart Services. It operates 450 weekly flights to 24 destinations, both within and outside of Saudi Arabia. The fleet, comprised of 14 aircraft, including five Embraer E-Jets, is the youngest in the region.

North America
Christine Manna - E: cmanna[.]embraer.com.
Cell: +1 954 383 9950 / T: +1 954 359 3879 / F: +1 954 359 4755

Europe, Middle East and Africa
Hervé Tilloy - E: herve.tilloy[.]embraer.fr.
Cell: +33 6 0864 3545 / T: +33 1 4938 4530 / F: +33 1 4938 4456

China
Tracy Chen - E: tracy.chen[.]bjs.embraer.com.
Cell: +86 139 1018 2281 / T: +86 10 6598 9988 / F: +86 10 6598 9986

Asia Pacific
Shorbani Roy - E: shorbani.roy[.]sin.embraer.com.
Cell: +65 9794 2401 / T: +65 6305 9955 / F: +65 6734 8255.

 
 
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Written by / Agency / Source: Empresa Brasileira de Aeronáutica S.A.

 
 

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Embraer Concludes First 'Pure Cover' Brazilian Export Credit Line

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Embraer |
Publisher Contact: Carlos Eduardo Camargo 
+55 12 3927 1311 carlos.camargo[.]embraer.com.br
 
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