Banca Ubae spa supports the Italian export of Danieli’s Steel Plant of USD 65 mio through the confirmation of a Letter of Credit issued by a Lebanese primary Bank with deferred payment in 4 years.
Banca UBAE S.p.A. www.bancaubae.it and DANIELI S.p.A. www.danieli.com are pleased to announce the set up for a credit facility for USD 65 mio to finance a new Steel Plant in North Africa following an intensive, positive collaboration where the management of the two companies together met with the Buyer and his local Bank, the commercial contract was signed between DANIELI S.p.A. and its foreign counterpart, followed by the opening of a Letter of Credit payable at the counters of Banca UBAE S.p.A. and confirmed by the latter in favor of
DANIELI S.p.A, with deferred payment in 4 years.
Banca UBAE S.p.A. also provided the necessary assistance for the issuance of the associated
bonds as required under the underlying contract signed by the parties.
The important synergies present in this Export Trade Finance transaction confirm the
success story of the Italian business community through Danieli S.p.A., and the
creation of value by Banca UBAE, a credit institution specialized in international
transactions, supporting internationally oriented Italian businesses.