TXF in depth

Funding in a frosty climate
Funding in a frosty climate
Daniel Pembrey
19 November 2018

With many European banks having reduced exposures, small- and mid-size traders are turning to new sector specific funds or small regional banks for financing – but at a cost. What does it take to defrost liquidity and survive in a global commodity market that has become increasingly dominated by a select few?

Commodity logistics boosted by increasing digitisation
Commodity logistics boosted by increasing digitisation
Jonathan Bell
14 November 2018

Great strides are now being made in enhancing commodity logistics through the use of blockchain in commodity shipments. Jonathan Bell explores some of the recent developments.

Natixis: Restructured and balance sheet smart
Natixis: Restructured and balance sheet smart
Daniel Pembrey
2 November 2018

There have been some key structural changes at Natixis over the past two years. Dominique Fraisse, global head of energy & natural resources, explains how the bank is focusing its resources in four key sectors, expanding its investment banking and advisory services, and aggressively promoting its originate-to-distribute model.

TXF in brief

More details emerge for W&T Offshore’s $250m RBL
5 December 2018

W&T Offshore has entered into a new four-year $250 million revolving credit that refinances a $150 million facility that expired on...

Gunvor extends $745m borrowing base with accordion
4 December 2018

Gunvor has increased it sustainability linked  $745 million one-year secured borrowing base facility via a signed $25 million accordion opti...

Trafigura signs $1.96bn BBL refi at same price
3 December 2018

On 26 November Trafigur a signed a one-year $1.96 billion borrowing base lending (BBL) facility, refinancing the group’s $1.5 million BBL c...

Mercuria signs tightly priced $1.35bn RCF
28 November 2018

Mercuria has signed a $1.35 billion equivalent revolving credit (RCF). The deal comprises a one-year $710 million tranche A (with a CNH...

Dongying Lufang Metals closes $275.5m pre-pay
28 November 2018

Dongying Lufang Metals Material Company has closed a three-year $275.5 million pre-payment facility. The loan will be used for working capital re...

TXF Data

Export & Agency Finance MLA Full year 2018

Bank USDm No %
1 Santander 5562m 35 9.8%
2 Credit Agricole CIB 4706m 22 8.3%
3 BNP Paribas 3706m 20 6.5%
4 HSBC 3662m 28 6.5%
5 Citi 2538m 15 4.5%
6 Société Générale 2525m 15 4.4%
7 Natixis 2398m 6 4.2%
8 Deutsche Bank 2398m 13 4.2%
9 ING Bank 2344m 33 4.1%
10 Credit Suisse 1766m 2 3.1%

Commodity Trade Finance MLA Full year 2018

Bank USDm No %
1 ING Bank 9955m 73 8.7%
2 Natixis 6923m 29 6%
3 BNP Paribas 6584m 36 5.7%
4 MUFG Bank 5316m 29 4.6%
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 3860m 29 3.4%
10 Standard Chartered 3568m 21 3.1%

TXF Podcast