Calyon recognised by Trade & forfaitingNon-recourse purchase of trade receivables, export supplier's credit Review and Global Trade Review in the “Deal of the Year 2008” category for the Office National d'Electricité ("ONE") transaction in Morocco.

The forfaiting (non-recourse purchase of trade receivables, export supplier’s credit) team within the Export & Trade Finance activity at Calyon, structured a transaction for the construction of a thermo-solar power plant by Abengoa for the Office National d’Electricité (“ONE”) in Morocco. Calyon set up a facility combining a multi-currency non-recourse facility in EUR, USD , and CHF for equivalent of EUR 180 million for the Spanish exporter and a reverse forfaiting to pay its suppliers. Also in the deal were Société Générale as co-agent, Spanish credit insurer CESCE and Crédit du Maroc for the local part of the financing in DirhamName of a unit of currency, usually a silver coin, used in the past in several Muslim countries and still used in some Muslim countries, such as Morocco and United Arab Emirates.
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