TXF in depth

Mercuria’s European refi: The end of costly 'Covid-19 premiums'?
Mercuria’s European refi: The end of costly 'Covid-19 premiums'?
Aife Howse
27 July 2020

Mercuria sealed tight pricing on its European RCF refinancing despite sounding out banks in the midst of the pandemic. The deal signed when other investment grade commodity-linked borrowers were hit with more hefty ‘Covid-19 premiums’.

US Exim has key role to play in China trade war
US Exim has key role to play in China trade war
Jonathan Bell
16 July 2020

The US administration has drastically upped the ante in its economic war against China with its actions against Huawei. At the same time, US Exim is one agency that has been charged to not only promote US exports and jobs but also counter Chinese state financing where necessary. Jonathan Bell assesses the developments and implications.

Mexican renewables: Can DFIs remedy investors’ woes?
Mexican renewables: Can DFIs remedy investors’ woes?
Max Thompson
8 July 2020

A stack of Mexican government policies in the energy space - supposedly implemented in response to the Covid-19 pandemic by Lopez Obrador's government - has forced project sponsors to take government agencies to court in order to bring renewable projects online. But can DFIs help provide further comfort to investors and banks looking to exit the sector?

TXF Originals

Mardie Minerals raising finance for salt and potash project
14 September 2020

Australian Mardie Minerals, a wholly owned subsidiary of BCI Minerals, is raising equity to back the early construction works on a government-approved...

ING appoints van Vliet as global head of KYC
11 September 2020

ING has given previous commodity finance head Anthony van Vliet the role of global head of KYC for wholesale banking. In his new role, which he starte...

Mercuria to launch Asian RCF
8 September 2020

Mercuria is expected to launch its annual Asian RCF in the coming month, with banks reviewing the deal internally before the energy group sounds out a...

Wilmar closes $200m Sora-linked loan
3 September 2020

Singaporean agribusiness Wilmar closed a $200 million bilateral loan from DBS on 27 August. The deal marks the first corporate loan to be pegged to th...

HSBC places Laubjerg as global head of natural resources
3 September 2020

HSBC has hired Jan Laubjerg for a brand-new position as global head of natural resources. The move, effective from 7 September, will entail Laubjerg t...

TXF Data

Commodity Trade Finance Lender H1 2020

Bank USDm No %
1 JP Morgan 4857m 11 7.5%
2 BNP Paribas 4662m 24 7.2%
3 Société Générale 3808m 24 5.9%
4 ING Bank 3785m 35 5.8%
5 MUFG Bank 2992m 21 4.6%
6 Sumitomo Mitsui Banking Corporation (SMBC) 2594m 16 4%
7 Mizuho 2459m 16 3.8%
8 Credit Agricole CIB 2451m 16 3.8%
9 HSBC 2019m 13 3.1%
10 Rabobank 2007m 23 3.1%

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