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TXF Export Finance Data: Coface is the most active ECA of 2015

Coface, the French export credit agency (ECA), was the single most active ECA in 2015 for medium and long-term debt supporting a total of $7.73 billion worth of transactions, according to TXF Data's 2015 Export Finance Report.

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Comments (5)

  • Max Thompson
    Max Thompson, TXF 8 March 2016

    Hi Susanne Thanks very much for your comment. As you can see in the disclaimer above TXF data relies on information provided by banks and ECAs themselves and as EKN does not disclose any of its transactional information, we can therefore not include it in our league tables. Although, you should be aware that the league tables are calculated using MLT transactional information, and thus, EKN doing $10 billion overall wouldn't necessarily mean it would top the table. Thanks again for your inquiry and we look forward to working with you in keeping TXF as up to date as possible. Best regards Max

  • Susanne With
    Susanne With 7 March 2016

    Hi Max! Where is EKN, the Swedish ECA, in your list? EKN's total volume of issued guarantees 2015 amounted to SEK 90.1 billion, the equivalent of around UDS 10 billion. The largest ever transaction was guaranteed, SAAB Gripen fighters to Brazil.

  • France Arnaud de Taddeo
    France Arnaud de Taddeo, Solmondo 2 March 2016

    We have clearly noticed that recent EU bank regulation texts give a strong incentive for banks to use ECAS, compared to private insurers, even with an equivalent rating. The only draw-back is that ECAS are the States themselves, this means the Taxpayer ; why cannot the private actors support Export development ? As a French tax payer, we had the very bad experience in 2015 with the "Russian Mistral" that weighted more than 1 billion euros, showing that risks born by the states can explode ! Private market is paying claims without any state support : there will be in June a conference in Paris about 20 years claims paid by private insurers. France ARNAUD, specialised insurance broker at SOLMONDO (site : solmondo.net)

  • Alfonso Olivas
    Alfonso Olivas, TXF 2 March 2016

    Hi CW, We appreciate the comment. It might be easier if we explain how we get the data for the report. All of the data from this report has been derived from deals information from www.tagmydeals.com, specifically related to M/L activity (tenor above 1 year) How tagmydeals works is by taking all publicly disclosed information surrounding ECA-supported deals and loading them into its database. In addition tagmydeals also accepts ECA deal submissions from deal participants, as well as including exclusive ECA transactions from our in-house editorial team. To include a deal on tag we need the amount, tenor, industry sector, volume, structure, and use of proceeds. Without this information we cannot offer granular data on deals and therefore cannot include it in the system. Regarding China Ex-Im we are aware that there are market rumours that the Chinese ECA could be doing $20b worth of business, or even $25b. However the ECA does not publish any deal information, nor does it disclose its financial results. As a result we only include all the deal information we have for the ECA on tagmydeals which explains its ranking for 2015. Similarly for EDC we agree your institution is very active and you will find all of your publicly disclosed deals on the system. However, some EDC deals we cannot easily include because they do not offer the tenor, deal sector, or exact amount of the deal. As a result we include all the deals we can. We would love to include more EDC deals, and other ECA deals for that matter. We are in not claiming to have complete market coverage. Please have a look at Tagmydeals and tell us what deals are missing and we will update the system straight away. Our aim to to have the most transparent and comprehensive ECA deals database in the market. We strongly believe we have made significant progress in this area, and that the report offers useful and specific insight into trends in market activity. But it will take time to get the whole picture. We can only do that with your continued help and engagement with www.tagmydeals.com

  • CW Liew
    CW Liew, EDC - Export Development Canada 2 March 2016

    OMG. The data is completely off! The largest ECA in the world, China-Exim does not even show up. Have you looked at EDC?

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