General insurance company Cesce will guarantee 50% of the line in which BBVA and BNP Paribas participate as structural entities.
Siemens Gamesa's oxygen balloon. The wind energy manufacturer has received a range of warranties from 1.2 billion euros For its renewable energy projects abroad, which were granted by six financial entities and supported by SICI, the public export credit insurance company.
The guarantees will be of a technical nature, i.e. those necessary for the bidding, contracting, implementation and warranty of the wind projects mentioned by Siemens Gamesa abroad, Cisse explained in a note sent on Monday.
In the guarantee line they participate BBVA, BNP Paribas The note adds that these banks are the ones structuring the banks, and Caixa Bank, Credit Agricole, Cotexa Bank and Santander are members of the banking syndicate.
SISI will guarantee 50% of the amount of the issued guarantees up to a maximum of 600 million eurosWhich will share the risks with the guarantor banks.
SISI is covered on behalf of the State and is supported by the Internationalization Risk Reserve Fund (FRRI), of the Ministry of Economy, Trade and Business.
This is the line of credit. flippingThis means that new guarantees may be issued with the release of existing ones, up to a maximum of EUR 1,200 million.
This line of guarantees is complementary to those already agreed by the German government with Siemens Energy, the parent company of Siemens Gamesa, for a total amount of 11,000 million euros.
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