TXF in depth

In the land of the blind, the one-eyed man is king: The opaque world of international trade
In the land of the blind, the one-eyed man is king: The opaque world of international trade
Baldev Bhinder
16 December 2019

Baldev Bhinder, managing director of Singapore-based law firm Blackstone & Gold, explores how the opaque nature of paper-based trade finance can leave the door wide-open to mis-representation and even fraud.

Mercuria's Asian RCF: A close (margin) shave
Mercuria's Asian RCF: A close (margin) shave
Aife Howse
12 December 2019

Mercuria’s annual $1.2 billion Asian RCF closed last month. While the downsized deal and significant margin savings suggest the trader has a strong financial position, a continued drop in its oil trading business could spell a different fundraising story for 2020.

The ebb and flow of North Sea upstream finance
The ebb and flow of North Sea upstream finance
Max Thompson
11 December 2019

The renaissance in North Sea oil field M&As is being driven by new flows of capital and RBL lenders backing mid-cap oil companies acquiring assets from majors’ divesting in the sector. But how much value can these often PE-backed independents and special operators squeeze from older oil assets before they look to offload — or even float them?

TXF Originals

Banks being sounded out for Turkstream debt
28 January 2020

Financial advisors Russian Project Finance Bank (RPFB) and SMBC, along with sponsor Gazprom, are expecting to close a debt package for the $15 billion...

Novolipetsk Steel adds ESG-tied incentive to €250m debt
24 January 2020

Russia-based Novolipetsk Steel (NLMK) has amended the terms of its existing four-year €250 million credit line. Originally closed in 2017, the de...

Aramco eyes acquisition loan for Port Arthur LNG interest
23 January 2020

Saudi Aramco is seeking a 25% stake in the Port Arthur LNG scheme in Texas, with the aim of buying five million tonnes of LNG per year from the facili...

Norilsk Nickel to upsize and tighten $2.5bn facility
22 January 2020

Russian metals producer Norilsk Nickel is sounding out banks to refinance its five-year $2.5 billion amortising term loan. Financial close is schedule...

Canal Sugar seals dual-currency bridge deal for agri project
21 January 2020

Dubai-based Canal Sugar has closed a dual-currency syndicated bridge facility of up to $175 million to back the financing of its sugar and grains term...

TXF Data

Commodity Trade Finance Lender H1 2020

Bank USDm No %

TXF Podcast

Song of the day

The Byrds
I wasn't born to follow
Listen on TXFunky