To support the exports of Italian companies that focus on foreign markets, CDP provides medium-long term loans, complementary to the banking system
Medium and Large companies operating in any sector
CDP acts by granting loans for the purchase of goods and/or services from Italian companies and /or their subsidiaries / foreign affiliates, directly or indirectly to foreign counterparts, in order to support the export of goods, services or work carried out by Italian operators or subsidiaries or foreign affiliates with an “Italian interest”.
Preferably completed in a pool with the banking system, CDP supports the operations with a dedicated team that analyses the company needs and evaluates /researches the solution that best meets the demands of the company and their different credit needs, offering full collaboration from origination to conclusion.
CDP's export financing is typically backed fully or partially by guarantees or risk hedging instruments issued by the subsidiary SACE or other Export Credit Agencies, from national development banks (KfW, CDC, ICO, etc.) or from multilateral financial institutions (DFIs) issued in favour of the lenders to cover the non-repayment of the loan.
In such operations, should the counterparty choose a fixed rate, SIMEST can support the financing through the stabilisation of the interest rate and an interest rate contribution, in order to reduce the rate payable by the foreign debtor and thus provide an indirect incentive to Italian exporting companies.
The joint CDP-SACE-SIMEST intervention allows Italian companies to offer their foreign clients financing with payment extensions, greater than those that can be obtained independently, and with more advantageous financial conditions due to contributions to the cost of the loan that can be critical in the selection of the Italian supplier by the foreign customer.
Quota: Minimum CDP participation> 25 million euros. CDP can finance up to 50% in co-financing with the banking system. The CDP quota can go up to 100% if the banks do not offer sufficient liquidity.
Currencies: CDP can participate on loans in Euro, USD or other currency, subject to carrying out the appropriate preliminary checks.
Economic Conditions: CDP publishes the indicative economic conditions applicable to standard operations with 100% SACE coverage, taking into account market levels and minimum reference rates and EU legislation.
If the bank co-financing quota is equal to or greater than 25% of the transaction, CDP aligns with the economic conditions applied by the co-financiers. In other cases, CDP applies the current market economic conditions for the type of transaction, taking into account the EU legislation.
CDP's involvement in transactions can take place at variable or fixed rates. The latter cannot be lower than the Commercial Interest Reference Rate (CIRR) pursuant to the OECD Consensus Agreement, if the final debtor has requested the intervention of SIMEST for the purpose of stabilising the interest rate pursuant to D. Lgs. 143/98, ex L. 227/77.
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