Financial & Bonding Support to Suppliers or Potential Suppliers to Gordie Howe International Bridge Project

Tuesday, January 28, 2020

Export Development Canada

 

Export Development Canada (EDC) can now provide financial & bonding support to Canadian contractors/suppliers to the Gordie Howe International Bridge Project in Windsor Ontario and Detroit Michigan.

EDC’s mandate is to support and develop, directly or indirectly, Canada’s export trade and Canadian capacity to engage in that trade. EDC’s legal and underwriting teams proactively reviewed the Gordie Howe International Bridge Project and determined that the work being completed in Canada meets their indirect export mandate.

 

Overarching Value Proposition & Project Charter: 

  • EDC has approved an indirect exporter platform (IEP) for the Gordie Howe International Bridge Project
  • Through IEP, EDC is now able to provide financial support to companies in the supply chain of the Gordie Hall Bridge Project; companies who are contracted to provide commercial inputs into the Project
  • This financial support will inject capital and financial liquidity into the Project supply chain; alleviating certain financial risks associated with timely payments, pressure on working capital and flexibility related to debt financing
  • EDC operates in a complimentary way with Banks and other financial intermediaries to share risks under commercially viable terms and ultimately increase access to capital
  • Where possible EDC is open to exploring provisions for incremental financial support in areas that that are unique to this Project (i.e. requirement for performance guarantees, surety bonding, possible reinsurance)
  • EDC’s participation will contribute to de-risking financial elements of the Gordie Howe Bridge Project

For more information, contact:

David Offenbacher
Commercial Account Director
EXPORT DEVELOPMENT CANADA
doffenbacher@edc.ca
T: 519.974.7674
F: 519.974.9753
M: 519.890.7436
3270 Electricity Dr. Suite 209
Windsor, Ontario Canada N8W 5J1
edc.ca