TXF in depth

Is the OECD Consensus still fit for purpose?
Is the OECD Consensus still fit for purpose?
Max Thompson
9 January 2019

OECD exporters and ECAs often cite the need to modernise the OECD Consensus on export credits. The International Working Group on Export Credits (IWG) is making progress – but will the IWG guidelines provide alternative rules to the OECD, or will it run alongside them?

Greece's high stakes renewables reforms
Greece's high stakes renewables reforms
Daniel Pembrey
8 January 2019

With a new renewable energy support scheme in place and a stabilising regulatory environment, the Greek renewables sector has begun attracting international lender and developer interest again. The odds on Greece meeting its ambition of becoming an energy hub for the EU look better – but they're still low.

Trade finance funds: Confidence dips on Shinhan retreat
Trade finance funds: Confidence dips on Shinhan retreat
Daniel Pembrey
8 January 2019

Shinhan Capital’s recent redemptions and BAF Capital’s winding down of BLTFF have focused attention on inefficiencies in the trade finance fund market. The extent of the ripple effect on investor confidence has yet to be seen, but it is likely there will be some casualties among less specialist fund managers that have entered the trade space.

TXF in brief

Southern Gas Corridor nears close on $1.5bn UFK-backed loan amid delays
16 January 2019

Azerbaijan's Southern Gas Corridor CJSC – rated Ba2 by Moody’s and 51% owned by the Ministry of Economy of Azerbaijan Republic with SO...

Amur GPP bank mandates by month-end
15 January 2019

Gazprom Pererabotka Blagoveshchensk – sponsor of the Amur gas processing plant (GPP) project – will mandate banks at a meeting in Moscow a...

Natixis appoints Delay new CEO of Americas CIB
15 January 2019

Olivier Delay has been appointed as Natixis’ new CEO of Americas CIB, effective 1 March 2019. Delay has been at Natixis for the past 10 yea...

Brockwell reaches financial close on EGEC
14 January 2019

Brockwell Energy has reached financial close on the project financing for its Earls Gate Energy Centre (EGEC) project – a £200 million ($2...

Al Dur 2 set to mandate banks
14 January 2019

Sponsors of the Al Dur 2 Independent Water and Power Project (IWPP) in Bahrain – ACWA Power, Mitsui and Al Moayyed Contracting – are neari...

TXF Data

Export & Agency Finance MLA Full year 2018

Bank USDm No %
1 Santander 11721m 48 14.3%
2 BNP Paribas 7643m 32 9.3%
3 HSBC 5424m 37 6.6%
4 Credit Agricole CIB 5203m 27 6.3%
5 Société Générale 4758m 21 5.8%
6 Deutsche Bank 3198m 14 3.9%
7 Natixis 2957m 8 3.6%
8 ING Bank 2591m 34 3.2%
9 KfW IPEX-Bank 2433m 12 3%
10 Credit Suisse 2185m 3 2.7%

Commodity Trade Finance MLA Full year 2018

Bank USDm No %
1 ING Bank 10005m 73 8.7%
2 Natixis 6923m 29 6%
3 BNP Paribas 6584m 36 5.7%
4 MUFG Bank 5366m 29 4.7%
5 ABN AMRO 4614m 37 4%
6 Société Générale 4128m 37 3.6%
7 Rabobank 4011m 32 3.5%
8 Deutsche Bank 3866m 20 3.4%
9 UniCredit 3660m 28 3.2%
10 Standard Chartered 3568m 21 3.1%

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