Republic of Cote d'Ivoire / Insurance to Support Komatsu Mining Equipment Exports
- First Sub-Sahara Long-term Deferred Payment Transaction Underwritten by NEXI -

April 9, 2018

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI; President and CEO: Kazuhiko Bando) has decided to provide Export Credit Insurance (Comprehensive) to support export of mining equipment manufactured by Komatsu Ltd. to Hippocampus Mining Services S.A.R.L (“HMS”), a mining contractor in the Republic of Cote d'Ivoire which will be purchasing the equipment on deferred payment terms of more than two years.

This is the first long-term (more than two years) deferred payment transaction with Sub-Saharan Africa underwritten by NEXI.

HMS is a subsidiary of Endeavour Mining Corporation, a gold mining company registered in the Cayman Islands (British Overseas Territory) and listed in Canada.

(Photo courtesy of Komatsu)

Deferred payment is an important finance arrangement provided by an exporter, especially for a small-volume importer who has difficulty in borrowing from a bank for reasons such as disproportionate administrative burden. To help Japanese exporters offer deferred payment terms, NEXI provides Export Credit Insurance coverage for transactions on deferred payment terms of not less than two years.

As a financial institution implementing Japan’s policy, NEXI will continue to actively support Japanese exports.

Insured Komatsu Ltd.
Type of Insurance Export Credit Insurance (Comprehensive, Equipment)
Destinaiton/Paying Country Republic of Cote d'Ivoire
Tenor (post shipment) 5 years
Covered Risks Pre-shipment Political Risk 80% Commercial Risk 80%
Post-shipment Political Risk 97.5% Commercial Risk 95%

Overseas Investment Insurance Underwriting Group
Underwriting Department