GAP Trade Finance is designed to act as a debt raising and treasuring management entity for a $2,000,000,000 European Medium Term Bond Programme (the Bond Programme).

GAP Trade Finance intends to raise funding for the Bond Programme and invest the proceeds as follows:

a)     The issuance of financial instruments (including the bonds)

b)     The acquisition of financial assets, such as stand-by letters of credit, medium term notes and insured bonds

c)     The entering into other legally binding arrangements, such as trade contracts, bank guarantees and other financial contracts.

GAP Trade Finance is not part of a group of companies.