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BNDES Exim Automatic

The BNDES Exim Automatic is aimed at providing support to trade Brazilian goods abroad, at the post-shipment phase, through a network of accredited banks. 

This credit line  may be operationalized through two financing structures:

  • Letters of credit – financing through letters of credit issued or confirmed by the foreign bank in favour of the exporter; and
  • Contractual formalization – financing through disbursements authorizations issued by the foreign bank through an specific contractual instrument signed between the foreign bank and BNDES.

In neither structure is there right of recourse against the exporter. In both operational structures, the disbursement of funds by BNDES to the exporter, through the agent bank, is performed in reais in Brazil.

Customers

Brazilian exporters that wish to become competitive in trading their products abroad, avoiding the commercial and political risk of financing and with the benefit of receiving the export revenue upfront.

Importers seeking financing from BNDES to purchase brazilian goods through local banks with a credit line approved  to manage the BNDES Exim Automatic.

Foreign banks seeking a competitive line of credit to originate sales to local customers.

Elegible goods

Brazilian capital goods and consumer goods.

Basic commodities cannot be financed.

Financing conditions

Term of Financing

Up to 5 years.

Payment of principal and interest

Up to 10 consecutive semi-annual installments according to the Constant Amortization System (SAC), may be admitted grace period for principal of up to 12 months.

Maximum participation of BNDES

Up to 100% of the export value, limited to US$ 10 (ten) million per funding request, in the negotiated INCOTERM, at the discretion of BNDES.

Interest rate of BNDES

Libor, corresponding to term of financing, plus BNDES’ spread (from 0.4% up to 1.35% per year, depending on the country risk classification to the country of the foreign bank), according to the following table:

OECD country risk classification BNDES Remuneration
0, 1, 2 e 3 0,40% p.a.
4 e 5  0,65% p.a.
6 e 7  1,35% p.a.

Exporter expenses with agent bank’s fee in Brazil

Up to 1% flat on principal amount released to the exporter or up to US$ 10,000 per transaction.

Remuneration of the bank abroad

Structure: letter of credit discount

The cost of issuing or confirming the letter of credit, which must be negotiated by the importer and the foreign bank.

Structure: contractual formalization

Spread of the foreign bank to assume the risk of the importer, which must be negotiated by the importer and the foreign bank.

Routing

The application for funding must meet the operational procedures defined within the BNDES Exim Automatic Financing Facility.

See too

 



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