TXF in depth

Lebanon takes advantage of deep roots in trade
Lebanon takes advantage of deep roots in trade
Katharine Morton
13 February 2019

Like its national symbol, the cedar tree, Lebanon has deep roots as a regional trade hub. With the right support, the country is poised to benefit from its unique position. In this discussion in Beirut, hosted by BNY Mellon, TXF finds the banks are showing best practice in adopting global regulation and asks how they are adapting to rapid change in the face of global protectionism and trade digitisation.

Aluminium Dunkerque: The shape of deals to come?
Aluminium Dunkerque: The shape of deals to come?
Oliver Gordon
6 February 2019

Liberty House’s recent Aluminium Dunkerque deal is both its first syndicated bank acquisition financing and a novel de-risked structure that includes a syndicated commodity price hedging agreement for the smelter. Given Liberty's expansion plans, it is unlikely to be a one-off.

The risk outlook for African mining
The risk outlook for African mining
Dr. Robert Besseling
5 February 2019

South Africa's President Ramaphosa has an opportunity to demonstrate his anti-corruption credentials ahead of this year’s elections by appointing a new board at the state pension fund. However, a dilution of political control over the money manager is unlikely, as the fund needs to act as a ‘last line of defence’ against any massive asset sell-offs in case of a much-vaunted triple-junk credit rating downgrade.

TXF in brief

Auramet reprises 2018 RCF debut
5 June 2019

Metals trader and boutique financing house Auramet Trading and Auramet International have closed a $190 million one-year syndicated revolving credit f...

SUEK closes Hermes-backed equipment facilities
15 April 2019

Siberian Coal Energy Company Group (SUEK) has closed two Euler-Hermes backed equipment financings with Commerzbank as sole lender. Both deals closed o...

Perseus takes corporate debt route to fund Yaoure Gold Mine project
12 April 2019

Perseus Mining has accepted an offer from three banks for a $150 million corporate debt facility. The revolving credit (RCF), which matures in Decembe...

Sanbrado Gold project makes first drawdown
5 April 2019

Australia-based gold developer West African Resources has met conditions precedent and drawn down a $75 million portion of the $200 million financing ...

Kipushi zinc-copper mine restart gaining traction
5 April 2019

Ivanhoe Mines has completed a National Instrument technical report covering the June 2018 Mineral Resource estimate for the Kipushi zinc-copper mine p...

TXF Data

Commodity Trade Finance Lender H1 2019

Bank USDm No %
1 BNP Paribas 3099m 18 7.9%
2 ING Bank 3058m 19 7.8%
3 Societe Generale 2808m 17 7.1%
4 MUFG Bank 2395m 12 6.1%
5 ABN AMRO 2091m 12 5.3%
6 Citi 1918m 8 4.9%
7 Natixis 1711m 17 4.3%
8 Mizuho 1559m 6 4%
9 Credit Agricole CIB 1156m 13 2.9%
10 Bank of America Merrill Lynch (BAML) 1041m 2 2.6%

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