Oesterreichische Kontrollbank AG (OeKB) offers (re)financing facilities via commercial banks to Austrian exporters and investors for their export activities abroad. Starting this year OeKB adopted its Export Financing Scheme (EFS) to provide even more favourable refinancing conditions. The five modifications in a nutshell:
1. Customised interest rates
The new scheme takes into account the drawdown phase when calculating the interest rates. The refinancing interest rates for single transactions in EUR will therefore be calculated on the basis of the weighted average life (WAL) in the drawdown and repayment phase of a refinancing. As a result, the applicable interest rate will reflect both the drawdown WAL and the repayment WAL - transparently and tailored to the respective transaction and your needs.
2. Increased fixed interest share
The share of the floating interest in tranches (fixed/floating interest rates) will always be 5 % of the financing volume irrespective of the tenor. This significantly increases the possibility of Austrian exporters and investors to plan ahead for their financing costs due to a 95 % fixed interest share.
3. Flexible ends of interest periods
Dates of interest periods can be selected according to exporter’s and investor’s individual needs.
4. Optional interest rate lock-in
If the underlying instrument has been applied for, but is not yet issued, the applicable interest rate can be fixed for up to 6 months. OeKB charges a non-refundable fee for this interest rate lock-in depending on the financing option.
5. Transparent interest rate calculation
You can calculate applicable interest rates according to your transaction on OeKB’s website.
Note that revolving export loans, Soft Loans and foreign currency transactions are not affected by these modifications. You can find the applicable interest rates, as well as detailed information on EFS on OeKB’s website.