Guarantees

With regard to the granting of guarantees, PYMAR aims to help commercial banks participate in the financing of shipbuilding projects in Spain.

The characteristics of the shipbuilding business mean that there is a fundamental need for a mechanism for granting guarantees which, under market conditions, acts as an instrument for the promotion of shipbuilding activity and provides access to repayment and financing guarantees.

PYMAR offers financial institutions a number of technical, legal and financial services, including the initial assessment of transactions and monitoring based on its specific knowledge of and extensive experience in the shipbuilding sector. These services are seen in a very positive light by the agents involved in the transactions and contribute to their successful conclusion.

Private Spanish shipyards that are also members of PYMAR have recently set up the Shipbuilding Guarantee Fund (SGF), which will enable shipyards to have access to guarantees within the framework of new shipbuilding contracts in collaboration with leading financial institutions in the sector, in which PYMAR will act as the fund manager.