CCH rises on Sharia financing deal Tue 11 Apr 2006 LONDON...

CCH rises on Sharia financing deal
Tue 11 Apr 2006

LONDON (SHARECAST) - Trade and finance group CCH International announced an agreement with Australia's Bill Express to implement A$80m five-year Sharia-compliant trade finance facility.

Both groups believe the deal is the first sharia compliant trade finance facility of this size to be provided to a listed Australian company. It is also the single largest transaction for CCH with one customer.

"We are delighted to have signed this agreement with BXP," said CCH managing director Eren Nil.

"It not only puts us in a strong strategic position for further deals in Australia with several more already under discussion, but it is also likely to lead to further business with BXP itself."

Insurance against non-payment will be provided by QBE Insurance Group.

Any views on above?