Does UBS also grant export credits in foreign currencies?
Yes, an export credit can be granted in the usual currencies, for instance dollars or euros. As a rule, this will be in connection with an export credit where the SERV assumes the contingent risk in respect of the relevant foreign currency. The transaction is then refinanced on the basis of LIBOR, usually with six months’ rollover. Alternatively, a fixed rate of interest above the Bank’s refinancing costs can be arranged.
