Indian offshore banks are continuing to offer attractive rates of L+26 to 28 bps for 10 Mio $ and above BC transactions.
BC for five million offered at L+32 to 34 bps and one million transactions at L+37 to 38 bps.
For 20 Mio $ 360 days period, we are arranging best quotes at 12 M L+ 28 bps and also with Half yearly reset 6 M L + 50 bps.
Suppliers Credit foreign bank quotes are in the range of of L+ 40 to 55 bps p.a for 90 to 180 days usance discounting till maturity. 360 days usance SC offered at 12 M L+ 60 bps and three years at 12 M L+90 bps with yearly reset from Indian banks.
In case of Letter of Credit reimbursement structure, L+60 to 70 bps to be offered for 180 days usance from nationalized banks.
Shipbreaking/Vessel imports suppliers credit(Usance Letter of Credit Discounting) transactions offered L+ 60/65 bps levels from Indian offshore banks for 90 to 360 days Usance.
For offshore Bid bonds offered at 40 to 50 bps against counter guarantee by Indian banks.
We offer dollar financing against SBLC,LONG TERM EXPORT PERFORMANCE GUARANTEE issued by major PSU banks at L+2.5% to 3.5% p.a (funding for offshore entities, Commodity, Performance, Services Guarantees).
We arrange External commercial borrowings(ECB’S) at all in cost of L+2.5 to 4% p.a depending on the creditworthiness of the borrower and the project etc..
These rates are applicable for the LOU’s issued by all major PSU banks and top private sector banks.
Country wise bank lines availability for Discounting of MENA and Sub-Saharan Africa Bank LC's :
Algeria: Banque Exterieure d’Algerie, Banque Nationale d’Algerie, Banque de l’Agriculture et du Developpement Rural, Banque Al Baraka Algerie, Banque Algerienne de Developpement, Banque de Developpement Local, Credit Populaire d’Algerie, Societe Generale Algerie, Banque du Maghreb Arabe pour l’Investissement et le Commerce, BNP Paribas El Djazair, Housing Bank for Trade & Finance.
Bahrain: Arab Banking Corporation (BSC), National Bank of Bahrain BSC, Gulf International Bank BSC, Ahli United Bank BSC, The Arab Investment Company SAA, Shamil Bank, Al Baraka Banking Group.
Egypt: Arab Banking Corporation – Egypt (SAE), Bank of Alexandria, Banque du Caire SAE, Banque Misr SAE, National Societe Generale Bank, National Bank of Egypt, Al Watany Bank of Egypt, Suez Canal Bank, Arab International Bank, African Export-Import Bank (AFREXIMBANK), Egyptian Gulf Bank, Commercial International Bank, Arab African International Bank, Export Development Bank of Egypt, HSBC Bank Egypt SAE, Ahli United Bank (Egypt) SAE, Credit Agricole Egypt, The United Bank SAE.
Jordan: Arab Banking Corporation (Jordan), Bank of Jordan PLC, Cairo Amman Bank, The Housing Bank for Trade & Finance, Arab Bank PLC, Jordan Kuwait Bank, Jordan Commercial Bank, Jordan Ahli Bank, Jordan Islamic Bank, Capital Bank of Jordan, Union Bank, Investbank, Central Bank of Jordan.
Kuwait: Bank of Kuwait & the Middle East, Commercial Bank of Kuwait, Gulf Bank KSC, National Bank of Kuwait, Al Ahli Bank of Kuwait KSC, Burgan Bank SAK, The Industrial Bank of Kuwait KSC, Boubyan Bank KSC.
Lebanon : Bank of Beirut sal, Bank Audi Saradar Group, BankMed SAL, Byblos Bank SAL, Fransabank SAL, Credit Libanais SAL, Banque Libano-Francaise SAL, BLOM Bank SAL, Banque BEMO, Lebanese Canadian Bank, Banque du Liban, BLC Bank SAL, North Africa Commercial Bank SAL, BBAC SAL (Bank of Beirut & Arab Countries SAL).
Libya: Central Bank of Libya, Gumhouria Bank, Libyan Foreign Bank, National Commercial Bank, Umma Bank SAL, Wahda Bank, National Banking Corporation, Sahara Bank, Bank of Commerce and Development, Banque Sahelo - Saharienne pour l’Investissement et le Commerce, United Bank for Commerce and Investment, Al Waha Bank, North Africa Bank.
Morocco : Attijariwafa Bank, Banque Centrale Populaire, Banque Marocaine du Commerce Exterieur SA (BMCE), Banque Marocaine pour le Commerce et L’Industrie, Credit du Maroc, Credit Agricole du Maroc, Societe Generale Marocaine de Banques SA.
Oman: Bank Dhofar Al Omani Al Fransi SAOG, Bank Muscat SAOG, National Bank of Oman SAOG, Oman International Bank SAOG, Oman Arab Bank SAOG, Bank Sohar SAOG.
Qatar :Al-Ahli Bank of Qatar QSC. Commercial Bank of Qatar, Qatar National Bank, Doha Bank, Qatar Islamic Bank SAQ, International Bank of Qatar, Qatar Development Bank.
Saudi Arabia : National Commercial Bank, Riyad Bank, Samba Financial Group, Saudi British Bank, Saudi Hollandi Bank, Al Rajhi Banking & Investment Corp., Arab National Bank, Bank Al-Jazira, Banque Saudi Fransi, Saudi Investment Bank, Islamic Development Bank.
Sudan :Omdurman National Bank, Bank of Khartoum, Faisal Islamic bank, farmers commercial bank ,Byblos bank, Bank of Beirut ,Tadamon Islamic Bank.
Tunisia : ABC Tunisie, Banque du Sud, Banque Internationale Arabe de Tunisie SA (BIAT), Banque Nationale Agricole, Societe Tunisienne de Banque SA (STB BANK), Banque Arabe Tuniso-Libyenne de Developpement et de Commerce Exterieur, Banque de l’Habitat, North Africa International Bank, Attijari Bank, Banque de Tunisie SA, Amen Bank, Union Bancaire pour le Commerce et l’Industrie SA UBCI, Alubaf International Bank, Arab Tunisian Bank, Banque Tuniso-Libyenne.
Turkey : Akbank TAS, Finansbank AS, Yapi Kredi, Turkiye Garanti Bankasi AS, Turkiye Is Bankasi AS, Turkiye Vakiflar Bankasi TAO, Fortisbank Turkey, Turk Ekonomi Bankasi AS, TC Ziraat Bankasi AS, Turkiye Halk Bankasi AS, Denizbank, ING Bank Turkey, Turkiye Sinai Kalkinma Bankasi AS (TSKB), Asya Katilim Bankasi AS (Bank Asya), Kuwait Turkish Participation Bank, Alternatifbank AS, Albaraka Turk Participation Bank.
UAE: Dubai Islamic Bank, MashreqBank PSC, National Bank of Abu Dhabi, Union National Bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al Masraf, Bank of Sharjah, Commercial Bank of Dubai PSC, National Bank of Fujairah Psc, National Bank of Ras Al-Khaimah PSC, National Bank of Sharjah, Emirates NBD, Sharjah Islamic Bank.
For Morocco ,Algeria ,Tunisia ,Jordan ,Lebanon,Egypt major banks LC discounting transactions, our bankers will add confirmation to sight LCs at 80 to 90bps p.a. and discount deferred payment LCs at 1%p.a. subject to credit approval, country limit, satisfactory documentation and due diligence on the parties.
Our International Finance team also guide you on offshore expansion and funding requirements in various countries.