AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On 19 July 2017, the UK Export Finance agency (UKEF) published the list of beneficiaries of trade finance transactions for the year 2016/2017.
One of these beneficiaries was Petrofac Limited, which was offered a buyer credit of a total value of GBP 110,388,848 (USD 143,445,666). The buyer credit finances the export of equipment for pipe-laying vessels to the United Arab Emirates from HC Engineering Business Ltd.
Given that UKEF does not provide the exact date that the trade finance deal was signed, the most conservative inception date, i.e. the 30 June 2017, was set as the inception date.
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