TXF in depth

Turkey turmoil raises difficult questions
Turkey turmoil raises difficult questions
Jonathan Bell
22 August 2018

The Turkish economy has been overheating. Mounting external debt and the mismanagement of the economy has caused the Turkish Lira to plummet against the US dollar and delivered a serious downgrade in its credit rating. Jonathan Bell examines the consequences of the collapse and what impact this could have on you, as well as what this may mean for other emerging markets and their borrowings, plus his regular look back on the week that was at TXF.

Multi-sourcing: Latin miners shop around for debt
Multi-sourcing: Latin miners shop around for debt
Callum Burroughs
21 August 2018

Improved metals pricing is incentivising miners in Latin America to take mothballed projects back into development. But environmental opposition, labour disputes and pricing cyclicality mean high risk and high cost of debt. Consequently, sponsors are taking a multi-sourced approach to financing, minimising overall cost while maintaining financial flexibility.

US wages economic war against Iran
US wages economic war against Iran
Jonathan Bell
15 August 2018

With the United States' first wave of economic sanctions on Iran already having a heavy impact on the Iranian economy, Jonathan Bell looks at how this will also affect the country’s relations with major international companies and trading partners.... as well as a look back at "the week that was"

TXF in brief

Resgen's Boikarbelo Coal project financing back on track
19 September 2018

Financing for Resource Generation’s (Resgen) Boikarabelo Coal Mine project in the Waterberg, South Africa, is progressing again following a key ...

Hangzhou Zhengcai closes debut international PXF
17 September 2018

Hangzhou Zhengcai Holding Group has tapped the international dollar debt market for the first time with a $160 million pre-export facility (PXF). The ...

TAPI pipeline to close ECA/DFI deal in Q1 2019
14 September 2018

The $7 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) 1,635km gas pipeline – sponsored by Turkmengaz, Afghan Gas Enterprise, Inter State...

Ecom Agroindustrial syndicating sustainability-linked RCF refi
13 September 2018

Switzerland-based agri trader and processor Ecom Agroindustrial Corporation has launched its latest revolving credit facility (RCF) into general ...

BB Energy launches latest RCF into syndication
12 September 2018

BB Energy has launched its latest revolving credit facility (RCF) into syndication. The RCF has a three-year tenor, a first for the independent energy...

TXF Data

Commodity Trade Finance MLA Full year 2017

Bank USDm No %
1 Natixis 11056m 52 10.3%
2 Société Générale 8209m 46 7.7%
3 ING Bank 7272m 75 6.8%
4 Deutsche Bank 4510m 24 4.2%
5 UniCredit 4334m 34 4%
6 Rabobank 3989m 43 3.7%
7 BNP Paribas 3669m 35 3.4%
8 MUFG Bank 3656m 31 3.4%
9 ABN AMRO 3608m 41 3.4%
10 Mizuho 3248m 26 3%

TXF Podcast

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Andy Williams
Can't get used to losing you
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