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Latham & Watkins partner Craig Nethercott said: "This successful financing by Mobily is a milestone transaction marking the first time that Export Development Canada has participated in Shari'ah-compliant facilities.
Mobily signed on June 26 a long-term vendor financing agreement with Canada export credit agency or Export Development Canada (EDC) for $200 million (SR750 million) with no corporate guarantee.
"According to the government agency Export Development Canada, there are more than 1,500 Canadian companies doing business in the Gulf and Qatar, in particular, is one of Canada's largest trading partners in the Middle East.
Van Loan also said that his country was very eager to boost trade with Turkey, that's why it opened a consulate-general and plans to open an office of the Export Development Canada in Istanbul.
Additionally, we are working with Export Development Canada (EDC) and the Canadian Commercial Corporation (CCC) to facilitate a comprehensive Canadian and customer-centric solution for our international customers."
Treasury and Export Development Canada, paying back its government loans in full, ahead of schedule.
Treasury and Export Development Canada loans by June 2010 at the latest,'' he said.
GM also reported a $3.4 billion fourth-quarter net loss and said it is committed to repaying the outstanding balances on its US Treasury and Export Development Canada loans
Senior debt was provided by Export Development Canada. "In 2009 alone we financed the deliveries of 11 new aircraft despite the recent challenging economic and financial climate," Flybe Director-Fleet Planning David Attenburrow said.
The transaction has been supported by a USD300m loan commitment from the EDC (Export Development Canada, Canada's government-owned export credit agency).
Francois Croft, representative of Export Development Canada in the Gulf region and Yemen, said, Eoe1/4EoThe SultanateEoe1/4aos ratings in terms of risks are very good and it is a potential market for us in the region compared to other countries.
Export Development Canada launches permanent GCC representation

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