TXF in depth

Freeport train 3: Refinancing to avoid Toshiba's nuclear fallout
Freeport train 3: Refinancing to avoid Toshiba's nuclear fallout
Tom Nelthorpe
31 May 2018

The holding company refinancing for Freeport LNG train 3 shows that banks have not soured on US LNG. But troubled offtakers may force sponsors down less palatable financing routes.

Debt sustainability: The African elephant in the room
Debt sustainability: The African elephant in the room
Dr. Robert Besseling
30 May 2018

As foreign currency debt issuance reaches a new record so far this year, there are growing concerns over debt servicing sustainability across Africa. Several African economies are at serious risk of debt distress and there are increased foreign-exchange and refinancing risks – partly driven by use of non-concessional financing and foreign-currency borrowings.

Hyflux: Turning its back on power – but is it too late?
Hyflux: Turning its back on power – but is it too late?
Tom Nelthorpe
29 May 2018

An expensive and unsuccessful gamble on Singapore’s deregulated power market has forced water project developer Hyflux into a painful restructuring. It may also have put paid to Hyflux’ overseas ambitions.

TXF in brief

Metalloinvest signs ECA-backed loan
14 June 2018

On 11 June Metalloinvest, a Russian mining and metallurgy company, signed a €72 million ($82 million) Euler Hermes-backed loan to finance the pur...

CIMIC drops out of WestConnex
13 June 2018

CIMIC has pulled out of the bidding for New South Wales government’s 51% stake in the $12 billion WestConnex project in Sydney. The move follows...

ACWA wins Umm Al Quwain desal
13 June 2018

ACWA Power and Tecton have been appointed preferred bidder for Federal Electricity & Water’s (FEWA) 45m gallons-per-day reverse osmosis...

Portugal's first floating offshore wind financing to close in Q3
13 June 2018

Portugal's first floating offshore wind project, the €125 million ($152.4 million) 25MW Wind Atlantic farm, is expected to reach full fi...

Braskem signs ECA-covered facility for Project Delta
13 June 2018

Braskem America Inc has signed a $225 million 11-year Euler Hermes-covered loan to part fund the $675 million expansion at its polypropylene prod...

TXF Data

Export & Agency Finance MLA Full year 2017

Bank USDm No %
1 BNP Paribas 5311m 34 9%
2 HSBC 4955m 40 8.4%
3 Santander Bank 4867m 22 8.2%
4 Sumitomo Mitsui Banking Corporation (SMBC) 4011m 27 6.8%
5 Société Générale 3464m 21 5.9%
6 Credit Agricole CIB 3264m 21 5.5%
7 KfW IPEX-Bank 2630m 18 4.5%
8 Deutsche Bank 2164m 15 3.7%
9 Standard Chartered 2100m 19 3.6%
10 Citi 1904m 11 3.2%

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