Export Development Canada (EDC)

Orbis has acted as the exclusive adviser to Export Development Canada (EDC) in relation to a portfolio risk management programme covering Bombardier CRJ aircraft previous financed by EDC. EDC is Canada's export credit agency. Orbis was originally mandated in 2004 to structure, model, arrange and place a financial guarantee insurance policy to meet EDC’s objectives.

This $1 billion credit enhanced transaction closed in March 2005 and was wrapped by MBIA. Orbis has continued to work with EDC and in December 2006 a further tranche of the risk management programme was closed, increasing the deal size to $1.2 billion.

EDC is a Crown Corporation that provides financing and risk management services to Canadian exporters and investors in up to 200 markets worldwide.

See www.edc.ca for more information on EDC.