ANNOUNCEMENT 09 May 2018
In 2018 Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 9 May 2018, Export Development Bank Canada (EDC) announced export financing for Calfrac Well Services Ltd. The stated purpose of the transaction is support for working capital/general corporate purposes for a subsidiary of Calfrac Well Services Ltd. in the United States.
EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$25-50 million. Taking the lowest possible amount, in this case, Can.$25 million (approx. U.S.$19.43 million), is our conservative estimate of the financing received.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.