Turkey / Caterpillar Japan Hydraulic Shovel Export Project(Export Credit Line for Yapi Kredi and Insurance for Loans)

March 25, 2015

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI) has decided to provide insurance for loans used by Borusan Makina Ve Guc Sistemleri Sanayi Ve Ticaret A.S., a Turkish company, to purchase hydraulic shovels from Caterpillar Japan, Ltd.

The loans for the purchase are provided through Yapi ve Kredi Bankasi A.S. (Yapi Kredi), a Turkish commercial bank, based on the export credit line offered to Yapi Kredi in November 2012.*1 Under the credit line, Japan Bank for International Cooperation and Japanese commercial banks will co-finance the loans of approximately EUR 45.4 million.

NEXI's loan insurance is for the loans provided by the commercial banks, Sumitomo Mitsui Banking Corporation (approx. EUR 11.3 million) and BNP Paribas, Tokyo Branch (approx. EUR 11.3 million).

As a Japanese official export credit agency, NEXI will continue to actively support Japanese companies' exports though a wide variety of financial tools.

Insured Sumitomo Mitsui Banking Corporation
BNP Paribas, Tokyo Branch
Insured Amount Approx. EUR 22.7 million
Percentage of Cover Political Risk 97.5% and Commercial Risk 95.0%


*1. Export credit line is a form of export finance in which a certain amount of credit limit is established to promote exports of Japanese goods and equipment.