Austal Limited is a world-leader in the design and manufacturer of high-performance defence and commercial water vessels.
Austal won a A$74.7 million contract to provide four high-speed ferries to Trinidad and Tobago’s National Infrastructure Development Company Limited (NIDCO).
These ferries will be used as a water taxi service and will reduce travel time between north and south Trinidad by almost two-thirds.
Our support in helping to structure a finance package for NIDCO was key to Austal’s success in this international tender.
We gave ANZ an export finance guarantee (EFG) for A$61.3 million, which allowed Austal’s bank, ANZ, to grant NIDCO a loan to fund the purchase of the ferries.
Our EFG is a form of buyer finance and is a guarantee from us that encourages banks to lend to overseas buyers of Australian exports.
Australian exporters’ ability to enhance contract bids with buyer finance from us can make them more competitive in global markets.
We’re long-term supporters of Austal and have helped it with other contracts in Trinidad and Tobago, Greece and Turkey.