|About the transaction: CDE Global|
|UKEF support||Standard Buyer Credit Guarantee|
CDE Global, based in Cookstown, designs, manufactures and commissions wet processing plants and equipment for construction and recycling companies around the world. With the support of our Standard Buyer Loan Guarantee pilot program, the company has signed a multi-million pound contract to expand production capacity at a quartz quarry in Oueslatia, Tunisia.
Since the commercial market cannot offer a solution for extended repayment periods, CDE contacted UKEF. We were able to provide their buyer with a nine-year facility to finance the contract, which significantly increased CDE’s sales and created jobs within the company.
The maximum amount that can be provided under the Standard Buyer Credit Guarantee is 85% of the contract value and is typically relevant for contracts between £ 1m and £ 30m. The new product is intended to offer small and medium-sized companies more financing options (SMEs) who want to export.
Funding for this deal with CDE was arranged by AF Capital Partners, a new partner for UKEF and reflects our initiative to increase support for smaller businesses.
Marc Jennings, CEO of CDE, said:
This is the second time we’re using UKEF. His export sales support facilitated the development of a large recycling project in Europe, a very important sector for our future growth.
The funding facility of UKEF for this new project, a second quartz sand wet processing plant for our customer Sebri Group, is a boost for our business, maintains the technical manufacturing roles and access to financing ensures that our customer can continue to invest in the best solution to support his growth to support .
Commenting on the deal, Andrew Woolfson, partner at AF Capital Partners added:
This scheme allows buyers to make their choice based solely on the quality of the goods. For CDE it single-handedly brought an export order to Great Britain that was otherwise awarded to a German competitor. We look forward to being part of a product that can boost UK exports for years to come.
Please visit CDE Global’s website for more details on the deal.
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