EFIC finance package secures Bronx contract

A comprehensive financial package from EFIC was crucial in finalising Bronx International Pty Ltd’s US$8.2 million export contract with a Russian client to design and supply a galvanizing line.

EFIC provided an export finance guarantee to support a loan from HSBC Bank plc, London, to the buyer’s bank, the state-owned Russian Bank for Development, which is funding the galvanizing line purchase.

EFIC also issued an advance payment bond in favour of the Russian buyer as security for advance payments made by the buyer to Bronx International under the contract.

"We turned to EFIC when it became clear that we needed additional financial assistance for our latest project in Russia," said Bronx International Managing Director, Rod Sawyers. "Without EFIC’s support it might not have been possible to put together the necessary financing package."

The project is Bronx International’s third contract with the Russian company, which manufactures a range of industrial, commercial and domestic building-related products.

EFIC previously provided an export finance guarantee for Bronx International’s contract to design and supply a coil-strip paint line for another overseas customer.

Coil Coating Lines and Galvanizing Lines are our specialty.