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01/18/2011
In: Press Releases

 EMBRAER CONCLUDES FIRST “PURE COVER” BRAZILIAN EXPORT CREDIT LINE

The Company is proud to announce the formation of a new structure to finance aircraft sales

 

São José dos Campos, January 18, 2011 – With this custom-made structured transaction, the lender benefits from a 100% guarantee of the Guardian Authority issued by the Secretary of Foreign Affairs (SAIN), from the Brazilian Finance Ministry, through the Brazilian Export Credit Insurance Agency (SBCE), which manages the export credit guarantee system on behalf of the Brazilian Government.

An EMBRAER 190 jet was delivered to Saudi Arabia’s budget airline nasair, last December, with Natixis Transport Finance acting as the Mandated Lead Arranger of this first aircraft financed by the structure. This is the first guaranteed (“pure cover”) Brazilian export credit transaction signed with a foreign commercial bank. All legal support of the transaction was given by Clifford Chance LLP.

“This financing structure will further enhance the credit available to Embraer customers, since it increases access to international financing institutions, as well as to a broader range of investors in capital markets. We welcome Natixis, a major player in aircraft financing, and congratulate them for the very first export transaction guaranteed by the Brazilian Government,” said Paulo César de Souza e Silva, Embraer Executive Vice President, Airline Market.

About Natixis

Natixis (www.natixis.com) is the corporate, investment, and financial services arm of the BPCE Group, the second largest bank in France, with 22% of total bank deposits and 37 million clients spread over two networks: Banque Populaire and Caisse d’Epargne. With around 22,000 employees, Natixis has a number of areas of expertise, which are organized into three main business lines: corporate and investment banking, investment solutions (asset management, private banking, and insurance), and specialized financial services. Natixis Transport Finance, a wholly owned subsidiary of Natixis, is specialized in aircraft financing.

About nasair

Launched in the Kingdom of Saudi Arabia in February 2007, nasair has transported more than 4 million passengers and is a pioneering airline, based on its four core values: Being on Time, Competitive Fares, Young Fleet, and Smart Services. It operates 450 weekly flights to 24 destinations, both within and outside of Saudi Arabia. The fleet, comprised of 14 aircraft, including five Embraer E-Jets, is the youngest in the region. For more information, visit www.flynas.com/en

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