ANNOUNCEMENT 03 May 2018
In 2018 Export Development Bank Canada announced financing for Canadian suppliers.
NUMBER OF INTERVENTIONS
On 3 May 2018, Export Development Bank Canada (EDC) announced financing for Magna International Inc. The stated purpose of the transaction is to renewal/refinancing of credit facilities to Magna International Inc. and its operations within Canada.
EDC publishes value ranges rather than precise values for the projects it finances. The present project will receive an amount in the range Can.$250-500 million. Taking the lowest possible amount, in this case, Can.$250 million (approx. U.S.$194.29 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.