A New Delhi based coal importer with large high value import transactions. After the ban on LOUs, access to competitive FCY funding became scarce and cost of borrowings went up significantly.
Client explored alternate funding sources however the credit market for bank risk had shrunk as well post the recent events.
Myforexeye Value Addition
The client approached Myforexeye to syndicate a $2M import transaction. Our team suggested possible banks for LC issuance where best pricing could be sourced. However, the issuing bank choice was restricted to the availability of free limits and in this case, it was a bank where credit appetite was highly restricted.
Myforexeye team reached out to its network of over 100 banks across the globe for this transaction and successfully tabled very competitive quotes from two offshore banks. The transaction was closed under L+45bps for a 6-month tenor.
The client was very satisfied with our service and the ability to syndicate a difficult transaction at very competitive rates.
07 Sep 2019 03:03 PM
A large importer based in Delhi. The client had started a relationship with Myforexeye 6 months back. The client was getting extremely worried about persistent rupee weakness. Their import payment of USD 1 million was due for September 2019.
17 Aug 2019 05:53 PM
A South Indian Electric Vehicles manufacturer well known for selling battery operated two-wheelers. The company regularly imports various components required to assemble two-wheelers from different geographies of the world. Given the focus on green e
03 Aug 2019 02:13 PM
A Mumbai based X-Ray film importer with import turnover of INR 6 cr had to make an import payment of EUR 1,00,000 against the import of master rolls of x-ray film from Germany. The client deals with a PSU bank which has been charging card rate on all
20 Jul 2019 06:09 PM
A Surat based woven products’ manufacturer and exporter. The firm exports woven fabric, post bags, laminated bags, cement bags, and other industrial packaging products in the international market with an annual export turnover of INR 10 cr. The firm
29 Jun 2019 04:49 PM
Myforexeye has appointed ‘Referral Partners’ (RPs) across the country in order to bring users of foreign exchange closer to our technology platform. The Referral Partner in Kolkata referred close to 10 exporters and importers in last 1 month. Our tea
15 Jun 2019 05:00 PM
Case: A Delhi based leading export house engaged in the manufacturing and exporting of garments. The company has export receivables of around USD 100k – 150k each month. The company had an inward remittance of USD 15,000 recently for which the owner