Taiwan/Loan Insurance to Wan Hai Lines Ltd.Group to support ship exports
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has decided to provide insurance for loans to Wan Hai Lines (Singapore) Pte Ltd., the Singaporean subsidiary of Taiwan-headquartered Wan Hai Lines Ltd. which is engaged in container transportation and other businesses in Asia. The loans will be used to finance Wan Hai Lines (Singapore) Pte Ltd.’s purchase of eight 3,036 TEU container vessels built by Japan Marine United Corporation.
The loans are provided through cofinancing by Citibank, N.A., Tokyo Branch (Citibank) and Japan Bank for International Cooperation (JBIC). NEXI’s insurance will support Citibank’s loan portion.
As a financial institution implementing Japan’s policy, NEXI will continue to support Japanese exports.
| Insured | Citibank, N.A. Tokyo Branch |
| Tenor | Approximately 6 years |
| Covered risks | Political risk 100%, Credit risk 95% |
Contact: Infrastructure Group, Structured and Trade Finance Insurance Department
Tel: +81-(0)3-3512-7674