TXF in depth

Dfin: From a different cut
Dfin: From a different cut
Callum Burroughs
6 December 2017

With banks retreating from the midstream diamond financing sector, the cost of debt for diamond traders is spiralling and creating the ideal climate for alternative lenders. TXF talks to Christopher Ellis and Bryan Walker, co-founders of alternative midstream diamond lending start-up Dfin, about the opportunity they see in a high-demand-low-availability debt niche.

Nacala Logistic Corridor: a private-private partnership
Nacala Logistic Corridor: a private-private partnership
Tom Nelthorpe
1 December 2017

The largest infrastructure project financing in Africa to date, the complex dual-jurisdiction set of agreements for the $2.7 billion Nacala rail financing has lessons for African governments in how to collaborate to attract private infrastructure investment and ECA backing.

Sorting Sonangol?
Sorting Sonangol?
Dr. Robert Besseling
28 November 2017

Despite a complete overhaul of management at Sonangol - most notably the removal of Isabel dos Santos as chairperson - the ongoing refinancing of the state-owned oil company faces new challenges from a recent massive increase in borrowing.

TXF in brief

Neptune Energy closes Engie E&P acquisition
19 February 2018

Neptune Energy sealed its acquisition of Engie E&P International (EPI) on 15 February. The $3.9 billion portfolio acquisition was partially b...

Cooper Energy RBL sold down
16 February 2018

Underwriters on the A$250 million ($181 million) reserves-based lending (RBL) portion of the A$400 million combined debt and equity package raised by ...

Hidrovias repaying project debt via bond debut
7 February 2018

Commodities logistics provider Hidrovias do Brasil is repaying existing project finance debt with proceeds from its recent $600 million debut bond iss...

Kosmos Energy secures RBL refi
7 February 2018

Kosmos Energy has refinanced its reserve-based lending facility and added new lenders to the deal. The five-year facility has increased in capacity...

Ecom refi launch nears
7 February 2018

Ecom is close to launching a refinancing of its $500 million one-year Asian revolving credit facility (RCF). The deal is one of the first large syndic...

TXF Data

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Commodity Trade Finance MLA Full year 2017

Bank USDm No %
1 Natixis 11170m 53 10.6%
2 Société Générale 8033m 45 7.6%
3 ING Bank 7386m 76 7%
4 Deutsche Bank 4510m 24 4.3%
5 UniCredit 4334m 34 4.1%
6 Rabobank 3989m 43 3.8%
7 BNP Paribas 3783m 36 3.6%
8 ABN AMRO 3608m 41 3.4%
9 Mitsubishi UFJ Financial Group (MUFG) 3479m 30 3.3%
10 Mizuho 3071m 25 2.9%

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