Closed since june 14th 2019

The Credit Line for Portuguese Companies undergoing an Internationalization Process in Angola (“Linha para as Empresas Portuguesas com Processo de Internacionalização em Angola”) aims at promoting the access to credit for companies which are dedicated to export or undergoing a process of internationalization in Angola and evidence during procurement or upon financing provision the ownership, or assignment on their respective behalf, of banking deposits in AOA in Angolan credit institutions, originated in prior commercial transactions as duly authorized by the Angolan authorities through the Single Administrative Document  (“Documento Único Definitivo”), or proof of its communication / registration with the Angolan authorities ( namely with the foreign exchange registration in the Integrated Foreign Exchange (SINOC), in the case of services exportation), and which find constraints in converting the aforementioned currency into an internationally recognized currency, notably EUR and USD.

This Line came into force as of May 8th, with a global amount of 500 million euro.

Financing transactions destined for working capital.

On an exceptional-basis, up to 30 per cent of the transaction may be used to settle debts which were contracted with the financial system within the past 3 months preceding the date of the agreement and aimed exclusively to the settlement of payments due to the Tax Administration and the Social Security.

Credit facilities under this Line benefit from an independent first demand guarantee, issued by Mutual Guarantee Companies, to guarantee up to 80 per cent of the capital due at each time.

To be negotiated between the companies and the Bank, with a maximum cap corresponding to EURIBOR (6 months) plus a spread as defined in the Disclosure Document.

Interest will be paid monthly in arrears.

Closed since june 14th,  2019

Fee payable by the companies, in accordance with the table foreseen in the Disclosure Document.

For more information see the Disclosure Document

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