Selected closings
XF Infra Ltd
XF Infra Ltd is our second bank-independent lender: a Swiss non-bank lender for export transactions insured by SERV, the Swiss Export Credit Agency.
Backed by private entrepreneurs and managed by the BPD team, it finances Swiss exporters and their buyers worldwide through three SERV-insured products: buyer credits with tenors of 15 years and more, supplier credits, and working capital facilities. Its deals range from discounting receivables to structured project finance in transport, energy, agriculture, industrial production and infrastructure.
B-Tex integrated textile factory
Drawing on BPD’s structuring and arranging experience, XFi acted as lead arranger and lender of a EUR 218.9m SERV-covered term loan. It finances the construction and equipment of an integrated textile factory, including full processing and finishing, in a West African country.
The plant uses modern technology, partly supplied from Switzerland. With 33,000 spindles it will produce around 7,000 tonnes of textiles a year and create around 4,600 direct jobs.
The sponsors and the government set up a dedicated economic zone for the project. We made it eligible for SERV cover and for funding by international banks.
Varanasi urban ropeway
In October 2023, BPD’s team reached financial close for India’s first urban ropeway, in the holy city of Varanasi.
Part of the 3.85 km project is financed by a EUR 27.4m SERV-covered buyer credit between Xport Finance Ltd and the project company owned by the contractor Vishwa Samudra Engineering Pvt Ltd.
The ropeway with 10-seat gondolas runs under a 15-year DBOT concession (design, build, operate and transfer).
First lending vehicle
We first presented the idea of a non-bank lender dedicated to exporting SMEs to SERV in 2014. Xport Finance Ltd followed in 2017. Until April 2024, BPD co-managed Switzerland’s first non-bank ECA lending vehicle under a sub-supplier mandate, responsible among other things for origination, structuring, arranging and negotiating transactions.
By the end of April 2024, it had signed more than 120 loan agreements – working capital facilities, supplier credits and buyer credits – with borrowers worldwide, for CHF 300m of SERV-insured underwriting. With more than CHF 500m of transaction volume arranged, we turned it into a proven business model.
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