We syndicate credit lines for importers to enable them to avail extended periods of credit, with or without L/C cover, as allowed under exchange control regulations. Deferred payments under medium term L/Cs / guarantees can also be considered. We have arrangements with banks in all major overseas centres for providing the most competitive quotes for financing of large as well as small value transactions, for periods ranging from 30 to 360 days and beyond.

Companies can use this facility to reduce interest cost on their imports and / or to benefit from any subsequent appreciation in the value of the rupee. Financing rates vary according to the value of the transaction and range from 25 to 50 basis points over relevant LIBOR rates.

We would generally be able to arrange deals without attracting withholding tax, or minimize the tax burden through cross-currency deals.

For other details and a cost analysis of specific transactions please forward details to tradefinance@mecklai.com.