Banebrydende swap aftale mellem Atradius og EKF

København, 3 August, 2006. Danske Eksport Kredit Fonden laver aftale med tyske Atradius Dutch State Business.

                                                                                                                 

Amsterdam 3 August, 2006 - For the first time the Eksport Kredit Fonden (EKF), the Danish Export Credit Agency (ECA) and the Dutch ECA Atradius Dutch State Business (Atradius) have signed an agreement to swap country exposure. This agreement enables Atradius to free up capacity for new business on Indonesia and EKF to free up capacity for new business on Vietnam and Jamaica.

 

Most ECAs have ceilings for their exposure on all countries in order to mitigate concentration risks and to balance their portfolios. This agreement will enable Danish and Dutch exporters to pursue new business opportunities.

 

Atradius has exchanged Euro 50 million sovereign exposure on Indonesia for the equivalent risk on Vietnam and Jamaica with EKF.

 

One of the companies benefiting from the ground breaking agreement is Damen Shipyards, a Dutch market leader in specialised ships. Damen Shipyards will now be able to further expand its exports to Indonesia.

 

Also benefiting from the swap is Pihl & Søn A/S, a Danish contractor of infrastructure projects such as harbours, bridges, tunnels, roads and airports. Pihl & Son A/S along with other Danish companies is involved in contracts in e.g. Jamaica.

 

“Our swap agreement with Atradius enables us to mitigate risk concentrations and thereby frees up capacity for the benefit of Danish exporters. We hope that the swap will set a precedent among ECAs and thus help create a new market for portfolio swaps. This may prove to be a very important instrument to balance risk and release funds to the benefit of exporters.” says Lars Kolte, Managing Director EKF.

 

Johan Schrijver, the Director of Atradius Dutch State Business, has said: “This innovative swap enables Atradius to improve the service we provide to Dutch exporters. There is a huge demand for cover to Indonesia. We are now exploring other portfolio management solutions as well, in order to free up additional capacity for new business to this market. I am confident that these efforts will help us meet the demand of our customers.”

 

About Atradius:

 

Atradius is one of the world’s largest credit insurers with total revenues of around € 1.2 billion and a world market share of 24 percent. Annually the company insures business valued at about € 350 billion against the risk of non-payment and offers a number of products varying from credit insurance to collections. With 3,400 employees and more than 90 offices in 40 countries, Atradius has access to credit information on more than 45 million companies world-wide and makes 12,000 credit limit decisions every day. Atradius has an ‘A' rating from Standard & Poor's (outlook stable) and an ‘A2' rating from Moody's (outlook stable). More information can be found at www.atradius.com

 

 

For yderligere information om Atradius kontakt:

 

Jørgen Lund Lavesen
Adm. direktør,
Direktør Holland & Norden
Tlf.: 33 26 50 00
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eller

 

Erik Skovgård Nielsen
Vicedirektør
Tlf.: 33 26 50 00
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