EXPORT FINANCE AND INSURANCE CORPORATION ACT 1991 (Cth)
NOTIFICATION UNDER SUBSECTIONS 30(1) AND 21(3) – 1 November 2022
Export Finance Australia gives notice under:
- Subsection 30(1) of the Export Finance and Insurance Corporation Act 1991 (Cth) that it has entered into the National Interest transactions listed below in accordance with a direction or an approval given under Part 5 of that Act; and
- Subsection 21(3) of the Export Finance and Insurance Corporation Act 1991 (Cth) that it has declared a specified cause of loss to be an approved cause of loss for the purposes of Part 4 of that Act, as set out below.
LOAN
Number | Currency | Interest | Max. Exp. Facility Limit | Gov’t % | Signing Date |
1319/22 | USD equivalent | USD LIBOR.+ 3.00% p.a | USD$155,000,000 | %100 | 24 October 2021 |
1320/22 | USD equivalent | USD LIBOR.+ 2.50% p.a | USD$180,000,000 | %100 | 24 October 2021 |
1321/22 | USD equivalent | USD LIBOR.+ 3.00% p.a | USD$534,400,000 | %100 | 24 October 2021 |
1322/22 | USD equivalent | USD LIBOR.+ 4.25% p.a | USD$425,000,000 | %100 | 24 October 2021 |
1323/22 | USD equivalent | Scheduled interest not applicable. Return dependent on internal rate of return. | USD$250,000,000 | %100 | 24 October 2021 |
INSURANCE
Number | Currency | Nature of Insured Coverage | Maximum Insured Liability | Gov’t % | Signing Date | |
1318/22 | USD equivalent | Coverage against certain approved causes of loss as declared under section 21 of the Export Finance and Insurance Corporation Act 1991 (Cth). | USD$320,000,000 plus a gross up for any amount of tax payable by the insured on any claim proceeds. | %100 | 24 October 2021 | |
1329/22 | USD equivalent | Coverage against certain approved causes of loss as declared under section 21 of the Export Finance and Insurance Corporation Act 1991 (Cth). | USD$140,000,000, plus a gross up for any amount of tax payable by the insured on any claim proceeds. | 100% | 7 July 2022 |
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APPROVED CAUSE OF LOSS
Export Finance and Insurance Corporation Act 1991 – Declaration of Approved Causes of Loss 2022 was declared on 5 July 2022.
This instrument repeals the Export Finance and Insurance Corporation Act 1991 – Declaration of Approved Causes of Loss 2021 dated 13 October 2021.