TXF in depth

Russian PXFs: Flight to paper?
Russian PXFs: Flight to paper?
Callum Burroughs
6 February 2018

Russian corporates are continuing a re-evaluation of their funding mix following a spate of post-sanctions unsecured loan firsts in 2017. A number of commodities-linked borrowers are repricing existing structured trade facilities, but the unsecured trend is now spreading to the bond market.

UKEF's new box of tricks
UKEF's new box of tricks
Eavie Burnett
1 February 2018

UK Export Finance (UKEF) has ramped up its risk appetite with a spate of new product suites, initiatives, and strategies aimed at increasing support for SMEs. TXF spoke with Baroness Rona Fairhead, new UK Minister of State for Trade and Export Promotion at the Department for International Trade (DIT), to find out the reality behind the rhetoric.

African debt markets and the return of the IMF
African debt markets and the return of the IMF
Dr. Robert Besseling
16 January 2018

The year 2018 is unlikely to herald the start of a new African debt crisis, but it will augur an end to the boon of high-yielding African debt, as governments continue to increase their debt and to postpone its repayment through refinance. EXX Africa assesses the implications in its latest special report.

TXF in brief

Bertillson leaves SEK for Swedbank
11 April 2018

Lena Bertillson has joined Swedbank as head of Industrials and TMT (telecom, media, technology). She joins from Swedish Export Credit Corporation (SEK...

Indonesia Exim raising cheaper debt
11 April 2018

Indonesia Eximbank (rated Baa3/BBB-/BBB) is out to syndication with a new $950 million three-tranche loan. Roadshows will be held in Singapore and Tok...

Turk Exim prices well despite downgrade
4 April 2018

Despite having been downgraded on 9 March to Ba2 by Moody’s (in line with a sovereign downgrade), Turk Eximbank has upsized the €300 millio...

Akbank closes on annual refi
28 March 2018

Akbank has closed its annual trade finance on-lending facility, refinancing the $1.1 billion due portion from its March 2017 syndicated loan with a ne...

Credit Agricole finalises $2bn trade finance synthetic
16 March 2018

One year on and Credit Agricole has followed up its Premium Green 2017-2 $3 billion synthetic securitisation of green project loans with a $2 billion ...

TXF Data

Commodity Trade Finance MLA Full year 2017

Bank USDm No %
1 Natixis 11170m 53 10.6%
2 Société Générale 8033m 45 7.6%
3 ING Bank 7386m 76 7%
4 Deutsche Bank 4510m 24 4.3%
5 UniCredit 4334m 34 4.1%
6 Rabobank 3989m 43 3.8%
7 BNP Paribas 3783m 36 3.6%
8 ABN AMRO 3608m 41 3.4%
9 Mitsubishi UFJ Financial Group (MUFG) 3479m 30 3.3%
10 Mizuho 3071m 25 2.9%

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