The Export-Import Bank

Presentation on theme: "The Export-Import Bank"— Presentation transcript:

1 The Export-Import Bank
An Introduction to The Export-Import Bank of the United States 美国进出口银行简介 China 中国 Richard Pearson Business Development Officer for Asia-Pacific 亚太地区业务发展主管 Global Business Development Division 国际业务发展部

2 美国进出口银行 Export-Import Bank of the United States
使命 Mission 美国进出口银行支持出口，以创造并维持美国的就业机会 / Ex-Im Bank supports U.S. exports in order to create and sustain U.S. jobs 机构 Organization 进出口银行是美国政府一个自我维系的独立机构 / Ex-Im Bank is a self- sustaining, independent agency of the United States government 创立于1934年 / Established in 1934 总部位于华盛顿 / Headquartered in Washington 办事处遍及美国 / Regional offices throughout the United States 与美国驻华使领馆商务处合作紧密 / Ex-Im Bank works closely with the Commercial Service at U.S. Embassy and consulates in China

3 美国进出口银行 Export-Import Bank of the United States
Activities 活动 进出口银行提供融资服务来填补标准商业贸易中的融资差额 / Ex-Im Bank provides financing services that fill gaps in standard commercial trade financing 贷款担保和直接贷款 / loan guarantees and direct loans 出口信贷保险 / export credit insurance 承担私有机构不能或不愿意接受的信贷和国别风险 Assumes credit and country risks private sector unable or unwilling to accept without support 进出口银行不设最低、最高交易额限制，不设国别限制 / Ex-Im Bank has no minimum or maximum transaction size amounts and no country limits 要求合理还款保证 / Must find a reasonable assurance of repayment 在130个国家开放交易 / Open for transactions in 130 countries

4 美国进出口银行历史 Ex-Im Bank History
自1934年建成以来，进出口银行支持了超过6000亿美元的出口。/ Since 1934 Ex-Im has supported more than $600 billion in U.S. exports 2014财年，进出口银行授权了201亿美元支持美国出口，而2013财年这一数据为275亿美元。/ In FY 2014 Ex-Im authorized $20.1 Billion in support of U.S. exports as compared to $27.5 Billion in FY2013 敞口限额: 1350亿美元 / Exposure limit: $135 Billion 当期敞口: 1000亿美元 / Current exposure: $100 Billion 进出口银行支持了美国许多关键领域 / Ex-Im has supported a variety of key U.S. sectors 航空及航空电子 / Aviation and Avionics 制造设备 / Manufacturing Equipment 重型设备 / Heavy Equipment 原油和天然气勘探/开发 / Oil and Gas Exploration/Development 能源/发电/可再生能源 / Energy/Power Generation/Renewables Note

5 主要融资产品 Primary Financing Products
期限 方案 Term Solutions 短期融资 Short-Term Financing 出口信贷保险 / Export Credit Insurance 营运资金担保 / Working Capital Guarantees 出口信贷保险/Export Credit Insurance 商业贷款担保 / Commercial Loan Guarantees 直接贷款 / Direct Loans 项目/结构性融资 / Project/Structured Finance 运输 (飞机) / Transportation (Aircraft) 中长期融资 Medium & Long-Term Financing

6 Export Finance Solutions
出口融资方案 Export Finance Solutions 中期-保险及担保 MT - Insurance and Guarantees 涉及金额低于100万的资本设备和相关服务，并且还款期限< 5年(最多7年) / For capital equipment and related services in amounts under $10 million and repayment terms of < 5 years (exceptionally 7 years) 贷款及设备租约(财务租约)/ Loans and Equipment Leases (financial leases) 买方信贷标准 / Buyer Credit Standards 最少三年经历 / Minimum 3 year history 可信的财务报表 (若金额>100万美元需经审计) / Reliable financial statements (audited if credit > $1 million) 买方需达一定财务比率 / Buyer must meet certain financial ratios

7 Export Finance Solutions
出口融资方案 Export Finance Solutions 长期 – 贷款担保 & 直接贷款 LT - Loan Guarantees & Direct Loans 金额>1000万美元及7-18年还款期 / Amounts > $10 million and year repayment terms 通常有高价商品，如商用喷气式飞机，企业信贷>1000万美元和有限追 索权项目融资 / Generally, large-ticket items like commercial jet aircraft, corporate credits > $10 million and limited recourse project finance 附加条件 / Additional Requirements 技术信息支持交易总结 / technical information in support of transaction summary 工程及环境审查和证明文件 / Engineering and Environmental review and documentation “并购清单”细目 / detailed “Acquisition List” 遵守海事管理局 (MARAD) 运输政策 / compliance MARAD shipping policy

8 贷款担保项目 Loan Guarantee Programs
Loan Guarantees 支持美元和其他货币 / USD or other currencies 浮动利率基于6个月的LIBOR (伦敦银行同业拆借利率) 附加息率 (由商业银行决定-100到200基点) / Floating rate tied to 6 mo. LIBOR plus spread (determined with commercial bank – 100 to 200 bps) 商业银行放贷有进出口银行担保人100%的担保(美国政府承担风险) / Loan is made by a commercial bank with Ex-Im guarantee’s 100% guarantee (U.S. government risk) 优势： Advantages: 加息率反映的是美国政府的信贷风险而非国家利率或风险 Spread reflects USG credit risk rather than country interest rates or risk

9 贷款担保项目 Loan Guarantee Programs
常规要求 General Requirements 合约金额 Contract Amount - 不设上、下限 / No minimum or maximum size limit 预付 Cash Payment - 要求预付出口商15% - 可以从不同渠道融资 / 15% cash payment to exporter required - can be financed separately 军事 Military -无军用相关设备和服务 / No military related equipment or services

10 贷款担保项目 Loan Guarantee Programs
常规要求(接上页) General Requirements (cont.) 本地成本 Local Costs 美国进出口银行资助本地成本，最高金额可达合约金额的30% / Ex-Im Bank can support up to 30% of the U.S. contract value in local costs 大幅增加了融资金额 / Substantial increase to financed amount 服务 Services 服务必须由美方人员提供，无论是在美国还是在东道国 / Services must be performed by U.S.-based personnel, either in the U.S. or the host country 海运 Shipping via Ocean Freight 挂有美国国旗的船只交易额(i) > 2000万美元,或者(ii)期限>7年 Local Costs If Ex-Im Bank provides local cost support for medium- and long-term transactions, then the local costs must be: Related to the U.S. exporter's scope of work; Certified by the U.S. exporter in the Exporter's Certificate; Detailed in the Acquisition List; and Originated/manufactured in the host country. Services must be provided by individuals and/or business entities that are residents of the host country. For limited recourse project finance transactions, the local costs may or may not be related to the U.S. exporter's scope of work. For those local costs not related to the U.S. exporter's scope of work, the local costs must be: Beneficial to the project; Note: The decision to extend local cost support is subject to budgetary and other discretionary considerations as determined by Ex-Im Bank's management.

11 担保/贷款资格和范围 Guarantee/Loan Eligibility and Coverage
标准融资模型 Standard Finance Model 美国供应合同/U.S. Supply Contract $100,000,000 外国份额/Foreign Content 0 合同净价格*Net Contract Price* $ 100,000,000 减去：15% 预付： Less: 15% Cash Payment: 15,000,000 融资部分 Financed Portion $ 85,000,000 加上：适用的本地成本 Plus: Eligible Local Costs 30,000,000 融资总金额 Total Financed Amount $ 115,000,000 Terms, Definitions and Calculations Supply Contract/ Purchase Order(s) - This amount consists of the aggregate price of all Goods and Services in the Supply Contract/Purchase Oder(s), which includes US content, eligible foreign content (i.e., goods shipped from the United States), ineligible goods and services, and local costs. Eligible goods and services in a U.S. supply contract are those: 1) Produced/originated entirely in the U.S.; 2) Containing U.S.- or foreign-originated components; and 3) Produced/originated entirely in a foreign country (other than the buyers country). ¹ must be shipped from the United States to a foreign buyer Excluded Goods and Services - The aggregate price of all Goods and Services that are not eligible for (or excluded from) Ex-Im Bank support (e.g., goods not shipped from the U.S.) Contract Price - Supply Contract minus Excluded Goods and Services Local Costs - The aggregate price of all Goods originated/manufactured in the Purchaser’s country and all Services provided by residents of the Purchaser’s country.  Net Contract Price - Contract Price minus Local Costs Foreign Content - The aggregate cost to the Exporter of any Goods (or components thereof) that were produced or manufactured outside the U.S., Services provided by third country-resident personnel, and foreign freight costs and foreign insurance included in the Net Contract Price for Goods exported from the U.S. U.S. Content (“US Export Value” above) – Net Contract Price minus Foreign Content U.S. Content Percentage – US Content divided by Net Contract Price expressed as a % Disbursement Percentage - The lower of (i) 85% and (ii) US Content Percentage Ex-Im can support a maximum of 30% of the Net Contract Price in local costs

12 案例 – 担保贷款融资的全部成本 All-in Cost of Financing for Guaranteed Loan Example
总贷款额 / Total Loan Amount $20,000,000 总期限 / Total Term 7年/7yrs 进出口敞口费/Ex-Im Exposure Fee* 4.77% 进出口承担费/Ex-Im Commitment Fee 0.1250% 基本利率（6个月LIBOR）/Base Rate (6-month Libor) ** 0.90% 总计TOTAL 3.09% 总贷款额 / Total Loan Amount $20,000,000 总期限 / Total Term 7年/7yrs 进出口敞口费/Ex-im Exposure Fee* 4.77% 进出口承担费/Ex-Im Commitment Fee 0.1250% 基本利率（6个月LIBOR）/Base Rate (6-month Libor) ** 0.90% 总计TOTAL 3.09% 总贷款额/ Total Loan Amount $20,000,000 总期限 Total Term * 适用于一年期建设项目及六年期的2类风险（中国私营企业） * For category 2 risk (China-private sector) with 1 yr construction period and 6 year tenor ** 以2016/3/10发布的LIBOR利率为准 ** Libor quote as of 3/10/2016

13 直接贷款项目 Direct Loan Program
直接贷款 Direct loans 仅受理美元 / Only in USD 基于国债的固定利率 (长期国库债券加50-100基点) / Fixed rate tied to Treasuries (Treasury bond plus bps) 进出口银行放贷，但通常是由商业银行给借款者提供咨询 / Loan is made by Ex-Im but commercial banks usually advise borrower 通常比担保贷款贵，但利率风险小 / Usually more expensive than G/L but have less interest rate risk

14 案例 - 固定利率直接贷款的全部成本 All-in Cost of Financing for Fixed Rate Direct Loan
总贷款金额/Total Loan Amount $20,000,000 总期限/Total Term* 7年/7 yrs 进出口银行敞口费/Ex-im Exposure Fee** 4.77% 进出口银行承担费Ex-Im Commitment Fee 0.50% CIRR 利率/ CIRR Rate*** 2.70% 借款者全部成本/All-in-Cost to Borrower 3.14% * 总期限包括6年还款期和1年支付期 * Total term includes a 6 year repayment term and 1 year disbursement period ** 风险费反映得是中国私人部门的风险 Exposure fee reflects China private sector risk *** CIRR(商业参考利率)是以2016年2月14日发布的6年还款期为准；CIRR以国债为基础 CIRR rate for a 6 year repayment term at 2/14/2016; CIRR is based on Treasuries

15 商业参考利率 (基于国债) Commercial Interest Reference Rates (tied to Treasuries)

16 特别计划 Special Initiatives
重点项目 Priority Program 环境出口项目(EPP) / Environmental Exports Program (EEP) 可再生能源：太阳能，风能，混合能源，生物能，燃料电池，转废为能，水电，煤气化，地热 / Renewable energy: photovoltaic, wind, hybrid, biomass, fuel cells, waste to energy, hydroelectric, coal gasification and geothermal 废水，污水以及垃圾处理方案 / Wastewater, sewage, and waste treatment projects 医疗保健 / Healthcare 改进的融资期限 Enhanced Financing Terms 建设阶段的资本利息 / Capitalized interest during construction 经济合作发展组织 (OECD) 所许可的最长还款期限 – 18年 / Maximum OECD-allowable Repayment Terms – 18 years Ex-Im Product Range The priority accorded these Special Initiatives applies in respect to Ex-Im Bank financing support provided throughout the wide range of financing programs offered: Short-term working capital Export credit insurance Medium-term insurance Medium- to long-term loan guarantees Project and structured finance Long-term direct loans Note

17 进出口银行与中国： Ex-Im Bank and China:
进出口银行于1934年创建之初就进入了中国。1938年到1940年，进出口银行资助了滇缅公路的建设。 Ex-Im Bank active in China since our founding in 1934; Between 1938 and 1940 supported Burma Road construction. 与新中国的第一笔生意于1981年得到许可。 First business with People’s Republic approved in 1981. 中国的当期敞口/ Current exposure in China: $5,500,000,000 (US) 香港的当期敞口/ Current exposure in Hong Kong: $3,200,000,000 (US) 进出口银行敞口排名前五的国家： 进出口银行敞口排名前五的中国企业： Top five exposures by country: Top five current exposures in China: 墨西哥 Mexico 中国国际航空 Air China 印度 India 中国南方航空 China Southern 沙特阿拉伯 Saudi Arabia 中国东方航空 China Eastern 中国 China 中国国际货运航空 Air China Cargo 澳大利亚 Australia

18 进出口银行与中国：各国限制条件一览表 Ex-Im Bank and China: Country Limitation Schedule
香港：无注释 Hong Kong: No notes 澳门：注释1 Macau: Subject to Note 1

19 进出口银行与中国 Ex-Im Bank and China
Notes: 注： #1. Discretionary Credit Limits under Short Term Insurance Policies are withdrawn. Cover not available unless specified in a Special Buyer Credit Limit endorsement, an Issuing Bank Credit Limit endorsement, or a Country Limit of Liability endorsement. 短期保险合同中的可支配信用额度已被撤销。除非在特殊买家信用额度背书、发证行信用额度背书或国家债务限额背书中特别规定，保险皆不适用。 #2. For sovereign transactions in the People's Republic of China ("China"), Ex-Im Bank will typically require an indication of Chinese government support in the form of a "Notice of MOF Guarantee" as defined in the Framework Agreement, dated January 24, 2005 between the Ministry of Finance of China and Ex-Im Bank. 对于中华人民共和国（中国）主权交易，进出口银行将特别要求中国政府以“财政部担保通知”的形式，出据一份政府支持声明，具体在2005年中国财政部与进出口银行所签署的框架协议中有所阐述。 For public sector non-sovereign and private sector transactions under short-, medium-, and long-term programs, Ex-Im Bank will consider transactions with financial institutions or other entities that are able to provide detailed financial/credit information sufficient to enable Ex-Im Bank to reach a credit conclusion. 对于非主权性公有制部门和私营部门的短、中、长期交易项目，进出口银行将会联同相关金融机构或其他可提供详细融资、信用资料的部门，对交易进行予以考虑审查，以充分得出信用评价结论。

20 进出口银行与中国： 主权担保贷款项目（2005至今） Ex-Im Bank and China: Sovereign Guaranteed Loan Program (2005 – present)
进出口银行及财政部，2015 Ex-Im Bank and Ministry of Finance, 2005 对有资格获得主权担保的中国买方，进出口银行中、长期融资的流程安排管理/ Governs the procedures for arranging Ex-Im Bank medium term and long term financing on sales to Chinese buyers eligible to receive a sovereign guarantee. 主权贷款项目旨在帮助促进美国高新技术及设备对中国的出口，同时加强中美两国之间的经济和贸易联系。/ The Sovereign Loan Program was designed to help boost exports of advanced technology and equipment from the U.S. to China, while strengthening economic and trade ties between the two countries. 主要好处： Key advantages: 取消项目的进口税和增值税，这些项目中包括至少50%的美国出口，或者进出口银行的担保至少是合同总额的50% / A waiver of import duties and VAT for projects that include at least 50 percent U.S exports or where the Ex-Im Bank guarantee is for at least 50 percent of the contract value 提供明确步骤，为中国买方加快审批流程。/ Clear set of procedures to facilitate the approvals process for Chinese buyers . 提前商定主担保协议格式，简化流程 / Pre-negotiated form of Master Guarantee Agreement to streamline documentation 自2005年以来，此项目已为价值5亿美元的货物提供了融资帮助，其中包括可再生能源、医疗设备以及交通、电信和其它基础设施设备方面的环保产品。/ Since 2005 the program has been used to help finance $500,000,000 of goods, ranging from renewable energy, medical equipment, and environmental products to transportation, telecommunications, and other infrastructure equipment.

21 Scope of Ex-Im Activity Worldwide 进出口银行全球活动范围
总敞口情况－按区域划分 2013VS2014 Total Exposure – by Region, 2013 and 2014 亚洲 拉美／加勒比海地区 欧洲 中东与北非 北美 大洋洲 非洲 其他 独联体国家

22 Scope of Ex-Im Activity Worldwide 进出口银行全球活动范围
新授权活动－按区域划分 2014VS2015 New Authorizations – by Region, 2014 vs 2015 亚洲 拉美／加勒比海地区 欧洲 中东与北非 北美 大洋洲 非洲 其他 独联体国家

23 Working with Ex-Im Bank 与进出口银行携手合作
Research: 研究 Fee calculators on website 网站费用计算工具 Country Limitation Schedule - policy by country 各国限制条件一览表：各国政策 Apply: 应用 Letter of Interest (LI) – Apply online; $50; U.S. exporter, Chinese buyer or bank can apply 意向书：在线申请；50美元；美方出口商、中方买家或银行可申请 Final Commitment 最终承诺书

24 Working with Ex-Im Bank 与进出口银行携手合作
After you submit your application for a direct loan or a guarantee: 在递交您的直接贷款或担保申请后： Assigned to loan officers and underwriters 将为您指定信贷主管与担保人 Loan officers and underwriters bring all necessary materials together in cooperation with you, attorneys, advisors, etc. 您的信贷主管与担保人将并与您、您方律师、顾问等进行协调合作 ，共同整理所有必要文件 Once application is complete a decision is made by: 申请完成后，决策将由下方进行： Senior Vice President for deals under $10MM 交易额在一千万美元以下：高级副总裁 Board vote for deals over $10MM. 交易额在一千万美元以上：董事会投票决定 Disbursement and monitoring over life of loan 贷款期内提供贷款支付与监测

25 For More Information 更多详情
Ex-Im Bank Contacts: 美国进出口银行联系方式 Global Business Development 国际业务发展部 Richard Pearson