Calyon Seoul has been officially mandated by Samsung Heavy Industries as Mandated Lead Arranger for issuing new Refund Guarantees for a total amount of USD 205 million, related to two 12,600 TEU1 container carriers. The Refund Guarantees were issued on October 16th, 2007 and the total issuing amount also includes an interest at 7% with 5-year tenor. Out of the total facility amount, USD 80 million have been successfully sold down to other banks (i.e. SMBC & ICBC) through risk participation agreements after the issuance, Calyon Seoul taking the remaining USD 125 million. The whole transaction is guaranteed by Korea Export Insurance Corporation (KEIC), thus greatly improving its profitability. Samsung Heavy Industries is the 2nd largest shipbuilder in the world. 1 TEU : Twenty-feet Equivalent Unit