Crédit Agricole CIB acted as sole arranger and facility agent for a 10.5-year buyer credit facility for Telemar in Brazil. The facility amounted to USD 220 million. The transaction was structured under a reimbursement scheme to finance the purchase of Alcatel-Lucent equipment and services.

The Export Credit Agency (ECA) involved was ONDD. This Belgian public credit insurer provides an extensive cover for both political and commercial risk.

"Through this export finance facility, Crédit Agricole CIB completed a significant Alcatel-Lucent mandate and developed the relationship with ONDD on a reference deal." explains Steven Assis, Senior Banker "We also initiated a relationship with Telemar, one of Brazil’s largest corporates."

Telemar (known as Oi) is the largest landline telephone company in Brazil.