▪USD/ETB 158.0▪EUR/ETB 181.0▪GBP/ETB 213.0▪NBE policy 15.0%▪Inflation 19.4%▪T-bill 91-day 15.4%▪T-bill 182-day 15.9%▪T-bill 364-day 16.8%▪ECX Coffee WYCA +1.8%▪ESX WEGA +0.7%▪ESX ETEL +1.4%▪USD/ETB 158.0▪EUR/ETB 181.0▪GBP/ETB 213.0▪NBE policy 15.0%▪Inflation 19.4%▪T-bill 91-day 15.4%▪T-bill 182-day 15.9%▪T-bill 364-day 16.8%▪ECX Coffee WYCA +1.8%▪ESX WEGA +0.7%▪ESX ETEL +1.4%
Structured Finance

Export-receivables facility builder

Borrow against what Ethiopian lenders can actually price: ECX warehouse receipts and assigned export letters of credit. Model the borrowing base, tranching and collateral coverage live.

Export flow profile

Monthly flow

ETB 265.4m

$1.68m

Facility size

ETB 1.19bn

Collateral required

ETB 1.49bn

1.25× coverage

Tenor

6 mo

Tranche structure

Senior (80%) — local banksETB 955.6m
Junior (20%) — DFI / sponsor first-lossETB 238.9m

Senior pricing

364d T-bill + 150–250bp (≈ 18.3–19.3% ETB) or SOFR + 450bp if USD-linked

Junior pricing

22–26% ETB, first-loss; DFI / impact capital candidate

Security package & covenants

  • ▪Pledge over ECX warehouse receipts, perfected via the exchange registry
  • ▪Assignment of export L/C proceeds into a controlled collection account
  • ▪ECX warehouse-receipt coverage ≥ 1.25×, monthly borrowing-base certificate, export L/C assignment
  • ▪Marine & warehouse insurance assigned to the security agent