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Donghae – ECA-backed financing
26 March 2010
Strong Hermes support for Korean pulp
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MLAs: Commerzbank, KfW IPEX-Bank, LBBW and Voith Financial Services
Borrower: Donghae Pulp Company
Amount: e126 million ($168 million)
Tenor: 8.5-years
ECA: Euler Hermes
Lawyers: KIM & CHANG, Korea
Exporter: Voith Paper, Heidenheim, Germany |
This deal is an example of a nimble ECA-financing introduced to a new market. Commerzbank, KfW and LBBW deserve full credit for arranging a debut ECA-backed financingfor Korean pulp producer Donghae Pulp Company.
The deal financed the construction of the first unique pulp and paper integrated mill in Korea. Construction of the project is due to start in June 2011, and once built the plant will produce 450,000 tonnes of paper per...
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