Mandated banks Nedbank Capital and Rand Merchant Bank (RMB) would offer the debt facilities to New Liberty mine operator Bea Mountain Mining Corporation as well as convince South African export credit agency, the Export Credit Insurance Corporation of South Africa (ECIC), for financing support.
What does ECIC stand for?
ECIC stands for Export Credit Insurance Corporation (of South Africa)
This definition appears frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of ECIC
We have 24 other meanings of ECIC in our Acronym Attic
- Electrical Contractors’ Insurance Company (UK)
- Electronic Commerce Information Center
- Electronic Communication Implementation Committee
- Énergie Conseil Ingénierie Carbone (French: Carbon Energy Engineering Board)
- Energy, Civil Infrastructure and Climate (University of California, Berkeley)
- Entrepreneurship, Commercialisation and Innovation Centre (University of Adelaide; Australia)
- Erie County Interscholastic Conference (New York)
- European Chemical Industry Council
- European Christian Internet Conference (Helsinki, Finland)
- European Conference on Intellectual Capital
- École Centrale pour l'Industrie, le Commerce et l'Administration (French: Central School for Industry, Commerce and Administration; Mali)
- Early Childhood Interagency Coordinating Council (Nebraska)
- Elections (Corrupt and Illegal Conduct) Ordinance (Hong Kong)
- East Central Iowa Council of Governments
- European Customs Inventory of Chemical Substances
- Export Credit Insurance Corporation of Singapore (est. 1975)
- European Centre of the International Council of Women
- Economic Crime Investigation Department (various locations)
- Economic Crime Investigation Division (various organizations)
- Educational Computing and Instructional Development (various universities)
Samples in periodicals archive:
Such measures, including waiving business registration fees, halving the charges for import and export declarations, reducing profit tax, offeringa new loan-guarantee product with a higher ratio of 80 per cent, and supporting the Hong Kong Export Credit Insurance Corporation in offering special concessions for SMEs, will tide local SMEs over difficult times by enhancing their competitiveness and easing their financial pressure," she said.
Then, with the guarantee of the Central Government of Nigeria and Offtake Agreements in place, the Company expects to raise the needed US$10 billion to fund the project through a combination of debt and equity through a network of Development Finance Institutions (DFI) with a mandate to fund projects in developing countries (examples of DFIs include Industrial Development Corporation of South Africa Limited, Development Bank of Southern Africa Limited, IFC and African Development Bank, as well as certain export credit agencies like the Export Credit Insurance Corporation of South Africa (Pty) Ltd (ECIC) and export facilitation banks like the Export-Import Bank of China and other commercial banks.
Mr Brad Breetzke, Standard Bank Group's Head of Mining and Metals Finance, said highlights of the deal are that this is the single largest export credit backed underwrite by the Export Credit Insurance Corporation and the deal will result in Konkola Copper Mines becoming one of the top ten copper producers in theworld, as well as one of the lowest-cost producers.
The Korean Export Credit Insurance Corporation itself frankly states the plans to increase insurance coverage volumes for Ukrainian customers as well as for buyers from the CIS region.
It is intended that the loan facility be structured 50% as a commercial debt facility ("Commercial Facility") and 50% as an export credit facility ("Export Credit Facility") through the Export Credit Insurance Corporation of South Africa.