We shine the spotlight on this $743 million ECA-backed financing; made up of $488 million of eight-year-and-11-month SACE-covered debt and a $255 million eight-year-and six-month tranches covered by Euler Hermes, structured under National Grid’s Green Financing Framework. The facilities are being provided by BNP Paribas the structuring bank, bookrunner, mandated lead arranger and lender of both facilities, Euler Hermes the agent, HSBC the bookrunner, MLA, lender and agent of the SACE tranche, and NatWest the bookrunner, mandated lead arranger, lender and facility agent of the Euler Hermes tranche. The banks, SACE and SIMEST were advised by Clifford Chance, and National Grid was advised by Linklaters. It represents the first time multiple ECAs have come together to finance a green project of this size. It was also unique in signing over lockdown which presents a whole myriad of challenges that were successfully navigated. Key actors in this transaction are invited to the silver screen to discuss their role in successfully bringing this project to close, and what it means for the green projects our industry will finance going forward.

Norbert Heller

Department Head Project & Customer Finance (ERL), Siemens Gas and Power

Federico Robaina

Senior Manager Corporate Finance, National Grid

Stefan Schmidt

Head of Department, Euler Hermes Aktiengesellschaft

Cristina Morelli

Managing Director Export Finance, SACE

Moderator

Luca Lunari

Head of Export Finance, Italy & Origination, Europe, BNP Paribas

6 months post-lockdown, what have been the changes in financing terms for borrowers and exporters in LatAm? How have exporters fared with the changes in supply chains?

• Is enough support and flexibility being provided by governments, local banks, ECAs, and regional MFIs such as CAF and CABEI?
• Are exporters turning to third country sourcing for ECA financing? Is it to soon for borrowers in LatAm to turn to untied lending schemes?

Romario Alves

Head of Trade & Supply Chain Finance, IDB Invest

Lenny Floria

Head of Regional Treasury and Structured Finance for the Americas, Nokia

Pauline Sebok

Head of Americas Office, SACE

Moderator

Piers Constable

Managing Director, Head of Americas, Structured Trade and Export Finance, Deutsche Bank