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BNP Paribas in Venezuela
BNP Paribas established a representative office in Venezuela in 1974. Since then, it has gained a prominent position among international banks active in Venezuela and has become a leading institution in export finance, project financing and asset management in the country.
In 2002-2003, BNP Paribas acted as lead arranger for export credits and commercial loans amounting to €296 million to finance Metro de Caracas lines 3 and 4 projects. In fact, the group BNP Paribas has been the leading financial institution for the Caracas underground transport system, Metro de Caracas, for over 20 years, lead-arranging export credits for over $1.9 billion.
Export finance transactions lead-arranged by BNP Paribas during the last two years include a $20 million French export credit financing for PDVSA, the national oil company and two $9 million Israeli export credits for the Navy and the Air Force, respectively.
In the period 2000-2001 BNP Paribas lead-arranged $242 millions in Export Credits to the Republic to fund equipment coming from Austria, Belgium, France, Israel, Italy, Switzerland and USA. In 2001 BNP Paribas was mandated by Phillips, Texaco and PDVSA as lead-arranger and book-runner for a $470 million project finance facility for the Hamaca heavy oil project in the Orinoco Belt.
During 1998 and 1997, BNP Paribas participated with over $200 million in the financing -through project finance facilities- of the Orinoco Belt heavy oil development sponsored by PDVSA and international oil majors like Total, Exxon Mobil and Conoco Phillips. It was involved as well in the project financing of FertiNitro, a petrochemical complex sponsored by Pequiven, PDVSA´s petrochemical arm, Koch Chemical and others.
In 1998, the bank signed $455 million in export credits to the Republic, including a $308 million export credit to fund imports of electromechanical equipment for line 4 of the Caracas underground.
Over the years, BNP Paribas has played an important role in providing funds for public and mixed projects. Sectors covered include transport (C.A. Metro de Caracas, Metroval), electricity (Edelca, Cadafe), petrochemicals (Fertinitro,Polímeros del Lago, Estirenos del Zulia y Propilenos de Venezuela) and defence (Air Force, Navy, Army).
BNP Paribas is a market leader in institutional asset management, holding assets for over $500 million for Venezuelan institutions.
BNP Paribas has also been active in capital markets and advisory activities for its Venezuelan clients (placing bond issues, arranging interest rate swaps and providing advisory services on privatisation to government entities). In particular, BNP Paribas advised the late Venezuelan Investment Fund (FIV) on the privatisation of Enelven, eventually postponed, and FOGADE on the successful sale of Banco República in 1997. The bank has also executed advisory mandates for Venezuelan private companies in the financial and telecommunication sectors.
BNP Paribas established a representative office in Venezuela in 1974. Since then, it has gained a prominent position among international banks active in Venezuela and has become a leading institution in export finance, project financing and asset management in the country.
In 2002-2003, BNP Paribas acted as lead arranger for export credits and commercial loans amounting to €296 million to finance Metro de Caracas lines 3 and 4 projects. In fact, the group BNP Paribas has been the leading financial institution for the Caracas underground transport system, Metro de Caracas, for over 20 years, lead-arranging export credits for over $1.9 billion.
Export finance transactions lead-arranged by BNP Paribas during the last two years include a $20 million French export credit financing for PDVSA, the national oil company and two $9 million Israeli export credits for the Navy and the Air Force, respectively.
In the period 2000-2001 BNP Paribas lead-arranged $242 millions in Export Credits to the Republic to fund equipment coming from Austria, Belgium, France, Israel, Italy, Switzerland and USA. In 2001 BNP Paribas was mandated by Phillips, Texaco and PDVSA as lead-arranger and book-runner for a $470 million project finance facility for the Hamaca heavy oil project in the Orinoco Belt.
During 1998 and 1997, BNP Paribas participated with over $200 million in the financing -through project finance facilities- of the Orinoco Belt heavy oil development sponsored by PDVSA and international oil majors like Total, Exxon Mobil and Conoco Phillips. It was involved as well in the project financing of FertiNitro, a petrochemical complex sponsored by Pequiven, PDVSA´s petrochemical arm, Koch Chemical and others.
In 1998, the bank signed $455 million in export credits to the Republic, including a $308 million export credit to fund imports of electromechanical equipment for line 4 of the Caracas underground.
Over the years, BNP Paribas has played an important role in providing funds for public and mixed projects. Sectors covered include transport (C.A. Metro de Caracas, Metroval), electricity (Edelca, Cadafe), petrochemicals (Fertinitro,Polímeros del Lago, Estirenos del Zulia y Propilenos de Venezuela) and defence (Air Force, Navy, Army).
BNP Paribas is a market leader in institutional asset management, holding assets for over $500 million for Venezuelan institutions.
BNP Paribas has also been active in capital markets and advisory activities for its Venezuelan clients (placing bond issues, arranging interest rate swaps and providing advisory services on privatisation to government entities). In particular, BNP Paribas advised the late Venezuelan Investment Fund (FIV) on the privatisation of Enelven, eventually postponed, and FOGADE on the successful sale of Banco República in 1997. The bank has also executed advisory mandates for Venezuelan private companies in the financial and telecommunication sectors.