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Under this agreement ONDD will provide insurance for third party financing for the purchase of Alcatel-Lucent telecommunications equipment by service providers worldwide.
'This agreement demonstrates ONDD's commitment to supporting Alcatel-Lucent export transactions worldwide, in recognition and support of the critical role Alcatel-Lucent's Belgian operations play as a centre of expertise in R&D, export and project management for the company. This is an important milestone in our ongoing long lasting relationship with Alcatel-Lucent,' said Stefaan Van Boxstael, Deputy Head of Underwriting from ONDD. 'This agreement with ONDD allows Alcatel-Lucent to provide financing to its customers for contracts with sourcing on a global level involving technologies in the fields of optics, access, mobile, IP and applications and creates new ways for Alcatel-Lucent to meet customer requirements for worldwide sourcing.'
As a first result of this agreement, Societe Generale Corporate & Investment Banking has arranged an ONDD-backed loan facility in favour of Turk Telekom, to finance various contracts between Turk Telekom and Alcatel-Lucent for a global amount of EUR 46 million. In line with Organization of Economic Co-operation and Development (OECD) regulations, part of the local services was also integrated in this financing.
The loan facility could be extended to support additional new contracts between Turk Telekom and Alcatel-Lucent. The buyer's credit will be applied to the full foreign portion, on a global level, of contracts concluded between Alcatel-Lucent Teletas (Turkey) and Turk Telekom for technologies sourced from different Alcatel-Lucent entities around the world
'Our overall agreement with ONDD, as demonstrated by this first transaction with Turk Telekom, provides a powerful tool for Alcatel-Lucent to help its customers meet their financing needs,' said Paul Tufano Alcatel-Lucent's CFO.
'A number of other new opportunities have already been identified, and our agreement with ONDD will provide Alcatel-Lucent with further flexibility regarding its project financing needs around the world.'
About ONDD
ONDD, the Office National Du Ducroire | Nationale Delcrederedienst, is Belgium's public export credit insurer, specializing in commercial and political risk insurance, guaranteed by the state.
As an integral part of the economic and export-oriented policy on Belgium's international trade, ONDD primarily provides cover against credit and political risks to support Belgian exports and outward investments where private sector risk cover is unavailable, due to the risk profile of these activities.
Such covers have clear economic importance in Belgium, since exports of goods and services contribute more than 80% of GDP.
ONDD is allocated a 'AA+' rating by Standard & Poor's. For more information, please visit www.ondd.be .
About Societe Generale Corporate & Investment Banking
At the core of Societe Generale's universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with 12 000 professionals present in over 40 countries across Europe, the Americas and Asia-Pacific.
Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalising on its worldwide expertise in investment banking,globalfinance, and global markets.
For Corporates, Financial Institutions and public sector: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimised financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.
For investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution and forward-looking research across asset classes
SG CIB Global Finance division consolidates all capital raising across the debt to equity spectrum, structured financing and hedging solutions for issuers.
Where 110 experts in Export Finance deliver financing solutions, risk covers and advisory services related to import or export contracts of which underlying assets are capital goods, equipment and/or services.
Responsible for all ECA-backed business solutions for more than 40 years, our experts leverage their relationship with Export Credit Agencies and the emerging market to address client needs across the globe, capitalizing on the extensive Societe Generale network.
A leading position reconfirmed by its clients with the prestigious Award for Excellence from Trade Finance Magazine. In Export Finance, Societe Generale Corporate & Investment Banking was named 'Best Export Finance Arranger' for the eighth consecutive year, demonstrating how, with its strong global network and innovative approach, the bank continues to address the evolving needs of its clients and provides support to win business overseas.
About Alcatel-Lucent
Alcatel-Lucent (Euronext Paris and NYSE: ALU | Quote | Chart | News | PowerRating) is the trusted partner of service providers, enterprises and governments worldwide, providing solutions to deliver voice, data and video communication services to end-users. A leader in fixed, mobile and converged broadband networking, IP technologies, applications and services, Alcatel-Lucent leverages the unrivalled technical and scientific expertise of Bell Labs, one of the largest innovation powerhouses in the communications industry. With operations in more than 130 countries and the most experienced global services organization in the industry, Alcatel-Lucent is a local partner with a global reach. Alcatel-Lucent achieved revenues of Euro 16.98 billion in 2008 and is incorporated in France, with executive offices located in Paris.
CONTACT: Press Office, Alcatel-Lucent e-mail: press@alcatel-lucent.com WWW: http://www.alcatel-lucent.com SG CIB Global Finance WWW: http://www.sgcib.com
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
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