TXF in depth

Oil trading: The wrong kind of slick investment?
Oil trading: The wrong kind of slick investment?
Callum Burroughs
7 August 2018

Rising oil prices dampened trader’s profits last year as the market moved from contango to backwardation, and many of the larger houses are already starting to diversify away from the sector. Added to growing ESG awareness among shareholders and lenders, and electric vehicle uptake – what some traders are losing on oil, they are looking to replace long term with metals, LNG, and renewables.

Bayfront Infrastructure: Project CLOs old school style
Bayfront Infrastructure: Project CLOs old school style
Tom Nelthorpe
6 August 2018

Singapore’s Clifford Capital has closed its first securitisation, and is preparing a second, in a bid to establish an infrastructure CLO franchise. Backed by loans from multiple banks, the structure owes more to the securitisation pioneers of the 1990s than more recent synthetic deals.

 Super-Sinosure: Pushing the cover boundaries
Super-Sinosure: Pushing the cover boundaries
Max Thompson
3 August 2018

Sinosure wants to up its short and long-term export credit insurance exposures to over $450 billion by 2020 and is targeting international lenders for far more business. However, the brewing US-China trade war and concerns over how projects apply capital under the Belt & Road Initiative are casting shadows over the Chinese ECA’s ambitious target.

TXF in brief

FNM raises new €200m medium term debt
15 August 2018

Italian regional rail operator FNM has raised a €200 million ($226 million) loan to finance rolling stock capex and refinance current short-term ...

More details on Eikeland-Steinsland wind financing
15 August 2018

More details are coming to light on the recently announced closing of a project bond by MEAG to finance Luxcara’s €200 million ($226.5 mill...

BNP Paribas shakes up transaction banking team in Asia Pacific
15 August 2018

BNP Paribas has announced multiple senior appointments in its Transaction Banking team in Asia Pacific. Mahesh Kini will join as managing directo...

Mainstream nears close on Chilean renewables portfolio
15 August 2018

Mainstream Renewable Power is expected to sign a 20-year $600 million loan in October this year to finance the construction of four renewable pow...

Kosmos Energy amends RCF with tighter pricing
13 August 2018

Kosmos Energy has amended and restated its revolving credit facility (RCF) – extending its tenor by three and a half years till 31 May 2022 and ...

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%

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