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08/19/2009 / ARGENTINA / EXPORT & TRADE FINANCE
Calyon joint lead arranger for an export financing for Tubos de Acero de Mexico S.A.
Calyon acted as joint lead arranger, Hermes agent, documentation agent, facility agent and lender in a EUR 121 million Hermes guaranteed facility for Tubos de Acero de Mexico S.A., to acquire a small diameter rolling mill from SMS MEER GMBH. Santander was invited to share 50% of the transaction.
The Export Finance transaction consisted of a long-term financing based on an export credit insurance granted by Euler-Hermes, the German Export Credit Agency, representing 85% of the commercial contract price plus other items.
Tubos de Acero de Mexico (“Tamsa”) is a subsidiary of Tenaris S.A. and a producer of seamless steel pipes in Mexico. Tamsa enjoys a dominant local market position and exports to more than 50 countries.
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The Export Finance transaction consisted of a long-term financing based on an export credit insurance granted by Euler-Hermes, the German Export Credit Agency, representing 85% of the commercial contract price plus other items.
Tubos de Acero de Mexico (“Tamsa”) is a subsidiary of Tenaris S.A. and a producer of seamless steel pipes in Mexico. Tamsa enjoys a dominant local market position and exports to more than 50 countries.