BUYER’S CREDIT APPLICATION TO CHINA EXIM BANK

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Introduction: During the time when a trade contract is being negotiated between the foreign Buyer and the Chinese Supplier, the Borrower intending to utilize the Buyer's Credit shall submit to the Export and Import Bank of China this application for Buyer's Credit arrangement. The Buyer's Credit loan shall not exceed 80% of the total contract value for ship trading projects and 85% for trade of complete sets of equipment or other mechanical and electrical products. The repayment term of the credit shall be determined according to the actual need but in general, within ten (10) years as from the starting point of the loan to the date the principle together with the accrued interest and fees are fully repaid.

1.Applicant. The applicant for a credit arrangement may be any responsible non-financial enterprise or financial institution acceptable to the EXIMBANK. The formal applicant for a buyer’s credit must be the borrower. EXIMBANK requests the applicant to provide the following information:

Applicant name:
Contact Person:
Position Title:
Phone #:
             
             
Fax #:
Email:
Address:


Brief introduction of the Applicant: Gross sales revenue in last fiscal year: Applicant is a special purpose vehicle newly established for this project, with US$ 700 Million under contract in 2008
Number of employees:

2.Supplier. The "supplier" is the Chinese company that manufactures the goods and/or performs the services to be exported. Please provide the information about the Chinese Supplier.
Supplier's name: China National
Contact Person:
Deputy Director
Email:

Email:
Address:
              Beijing China 10000

3.Guarantor. The "guarantor" is a bank or a government agency who agrees to perform the related obligations for the Borrower if the Borrower can not. Please complete the information below if a guarantor is proposed.
(a)Guarantor's name:
or (b)Guarantor's name:

4.Status of Export Contract. Check the box below which indicates the status of the contract for the sale of the export items.
                            XX�?Contract under negotiation
5.Description of Export Items. Briefly describe the goods and services, including but not limited to the type, quantity, number and capacity (if applicable), contract price, and supplier (contractor).
(1)Engineering, procurement, and construction services for 500 Megawatt LPG fueled power plant.
(2)Equipment - General Electric Frame 9E gas turbine generators and combined cycle steam turbine generators.
(3)Operation and Maintenance supplies for General Electric Frame 9E gas turbine generators and combined cycle steam turbine generators.
If the export items are to be used in a project, complete the information below. After EXIMBANK's initial review of the application, EXIMBANK may request supplemental project information.
Project name and location: 4
Project purpose: The country of Pakistan currently has a 5,000 Megawatt electrical deficit. This project is designed to decrease that deficit and provide clean and inexpensive electrical power to the citizens, industry and Government of Pakistan.
Project capacity: 300 Mega Watt simple cycle within 12 months. 500 Megawatt combined cycle years 2 through 20.
Primary contractor:
Estimated total project cost: US$ 620,000,000
Civil construction portion: US$ 48,000,000 (about 8.1%)
Local financing portion (if there is local finance): Consortium of local banks will provide 10% of project financing.
Financing bank which provide local funds:
Construction start date (month/year): Engineering start day: January 1, 2009
Construction start date: April 2009
Project completion date (month/year): Phase 1: April 2010; Phase 2: April 2011.
6.Contract Price. The "contract price" is the amount to be shown in the supplier's invoice related to goods to be exported from China and services to be performed by Chinese companies. If there is more than one supplier, the contract price is the sum of the suppliers' invoice amounts. The "eligible foreign content" is the portion of the contract price representing components to be purchased by the supplier outside China and incorporated into the items to be exported.
    6a. Contract Price: US $ 580,000,000 (including eligible foreign component)
    6b. Eligible Foreign content: US $ 300,000,000
Identify the source and briefly describe foreign content: Gas turbine generator components.
7. Financed Amount. EXIMBANK will lend an amount related to the contract price no greater than 85% of the contract price.
    7a. Cash Payment (minimum 15% of contract price):
    7b. Financed Portion (maximum 85% of contract price):
8. Credit Terms. Repayment of principal is generally required on a semiannual basis,beginning six months after the starting point. The "starting point" is generally the event that marks the fulfillment of the exporter's contractual responsibility
    8a. Construction period: one (1) year for 350 Megawatt simple cycle, two (2) years for 500 Megawatt combined cycle.
    8b. Grace period: two and one-half (2.5) years
    8c. Principal repayment Term: ten (10) years
9. Interest rate. Mark the box below which indicates the kind of interest rate to be adopted.
  XX�?six month Libor + margin (to be negotiated and agreed upon between the Lender and Borrower)
10. Credit Information. Enclose with the application the following information on the borrower and, if any, guarantor. Provide an explanation for any items not available. Following EXIMBANK's initial review of the application, EXIMBANK may request supplemental credit information.
    10a. Background data. Concise description of company origin, legal status, ownership, affiliates, facilities, and business activities.
    Applicant is a United States Corporation formed as a special purpose vehicle to develop, finance, construction and operate the project,  51% owned by 49% owned
    10b. Financial Statements. Independently audited balance sheets, income statement, and cash flow statements, in English, for the last three fiscal years, If the most recent fiscal year ended more than nine months prior to the application date, provide interim statements, include the auditor's opinion and notes to the financial statements.
   Corporation is a United States corporation newly formed as a special purpose vehicle to develop, finance, construction and operate the project.
Applicant signature: ____________________________________________
Name: Rod Johnson
Title: President and CEO,
Exim Bank would be pleased to assist you in applying for financial support. If you have any questions, please contact the Buyer Credit Department 1st division (Telephone: 0086-10-62278899 ext. 2509-2512 or Fax: 0086-10-62272614).