EXIM CIRR investment credit facility for export purposes

CIRR-based investment credit facility for export purpose refinanced by Magyar Export-Import Bank Zrt. (Eximbank)

UniCredit Bank provides CIRR-based fixed interest rate credit facility in EUR, USD or HUF refinanced by Eximbank in frame of Export Promoting Credit Program for financing investments that support the direct export of goods or services of enterprises as well as supplier transactions promoting domestic export by delivery of goods or services.

Why is this facility advantageous to your company?

Exceptionally favorable, CIRR-based interest rate fixed at the start of the deal and remaining unchanged for the whole term of the facility;
medium-term financing source with previously fixed, predictable financing costs and debt service that is adjusted to the realization and useful life of the investment.

To whom do we recommend the investment credit facility for export purposes?

To resident business organizations exporting goods or services who are planning to implement investment related to their export activity;
to resident business organizations who supply goods or services to the exporter utilizing which the exporter realizes an export of goods or services who are planning to implement an investment related to their supplier activity.

Main parameters of the credit facility:

Purpose of the credit: Financing investment related to export or supplier activities.
Type of the credit line: Amortizing, non-revolving investment credit facility.
Amount of the credit line: The loan amount may not exceed 80% of the planned value of the investment accepted by Eximbank.
Availability period: Availability period is defined in accordance with the construction period.
Term: At least 24, but not more than 60 months calculated from the end of the availability period.
Currency: EUR, USD, HUF.
Interest rate: EUR/USD/HUF CIRR + interest margin calculated on the base of the client rating. The interest is fixed for the whole term of the given loan in such a way that the interest rate of the individual loans disbursed against the credit line might differ from each other.
Interest payment: every 3 or 6 months, on the same day as the principal repayment is due.
No grace period may be applied concerning the interest payment. Interest is payable during the availability period.
Principal repayment: every 3 or 6 months in equal installments after the availability period.
Other fees: Fees related to the credit facility are defined individually in accordance with Eximbank’s regulations.

Further details

Exporters or suppliers may be financed who:

following the period of construction until the maturity of the credit line can implement export of products or supplier transaction(s) in the amount equal to the loan amount and in case of exporters can achieve export growth in at least one business year,
following the period of construction can certify the Hungarian origin of their export or supplier activities (in case of goods presenting the Certificate of Hungarian Origin; in case of services by submitting the certificate issued by the competent government bureau saying that in majority the Borrower employs employers for whom it pays social contributions in Hungary).

Enterprises may not be financed in the frame of credit facility for financing investments who:

are under bankruptcy, liquidation or winding up proceedings or such proceedings have been initiated against them;
have tax- or public debts that are more than 60 days overdue, unless the tax authorities have allowed deferred payment or payment in instalments;
have debts from either a loan agreement, a bank guarantee agreement, or a leasing contract which are more than 30 days overdue;
do not have / will not have all the necessary permissions and licenses from the authorities for the fulfillment of the financed export deal or supplier transaction;
pursue / will pursue activities that are in breach of the legal rules or the regulations on the protection of the environment;
in the previous 3 years in relation to subsidies granted from the sub-systems of the central budget, or the European Union’s funds it has not satisfied the obligation that it had undertaken in the subsidy agreement or has not remedied this failure within the available grace period; or in spite of the resolution that obliges it to repay the banned state subsidy, it has not repaid all amount following the receipt of the resolution;
its main activity is among the following: weapon or ammunition manufacturing, gambling, betting or financial mediation, insurance, counter-insurance, pension funds or other financial activities.

The credit line may not be used for:

investments serving non-business type activities,
financing refundable value added tax, custom tariffs, public obligations or accrued interest on incomplete investments,
financing investments outside of Hungary,
financing shares, equity ownership, financial instruments,
payment of outstanding debt incurred prior to loan application,
refinancing previous disbursements related to current investment,
financing investments connected to which re-export will be realized,
financing investments as a result of which the export and the supplying of the following products will be realized:
- the possession or distribution of which is in breach of legal regulations,
- military equipment,
- commodities that violate environmental protection rules,
- unprocessed agricultural products,
financing investments as a result of which export or supplier transaction(s) of goods or services will be realized that have previously been financed by an Eximbank-refinanced export pre-financing credit facility or an investment loan for export purposes,
financing investments as a result of which export deals will be realized towards relations that are forbidden according to Hungarian laws or international conventions.

Apply

In case your company plans investments aimed for capacity improvements or modernization, furthermore has a stable export customer / supplier clientele and wants to make the best use of the advantageous CIRR based refinancing but the parameters of this loan do not suit your needs perfectly, we kindly ask you to contact the Trade Finance Department of our bank on tradeservices@unicreditgroup.hu email address or on the +36 1 301 5131 phone number.

Our colleagues will check your special demand and find the best solution to finance your export deals.

This information should not be considered an offer. The Bank reserves the right to change the conditions. UniCredit Bank reserves the right to decide individually on loan disbursement and on the amount and conditions thereof, based on the loan application and documents submitted.