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19 May 2016

Aperam agrees $400m 'backup' borrowing base facility

The Luxembourg-based stainless-steel producer closed a $400 million borrowing base revolving credit facility in March, a month after Moody's upgraded the company to Ba1....

17 May 2016

Why are banks still steering clear of Iran? Q&A with Matthew Oresman

The lifting of Iranian sanctions following the country’s nuclear deal with the US heralded a wave of transactions and many predicted a gold rush.Global payment processor...

17 May 2016

Petroleum Development Oman seeks $3bn PXF

Petroleum Development Oman, who traditionally rely on state funding, has turned to commercial banks for finance in the wake of lower oil prices, as the oil company seeks...

11 May 2016
in
Oil & gas

Puma Energy attracts new banks to $800 million RCF

Puma Energy, the international oil company, has closed a new revolving credit facility and extended previous facilities, showing it retains the confidence of lenders in a...

09 May 2016

Export credits: Private insurers step out of the shadows

With their huge capacity and state backing, ECAs for many years dominated the market for absorbing risk on longer-dated export credits. That’s changed, say private...

06 May 2016

Why are banks withdrawing from correspondent banking?

Banks are continuing to withdraw from many of their correspondent banking relationships - a process which threatens global trade, especially in poorer countries. TXF...

04 May 2016

Sace takes the lead in Iran

In late April, only four months after the trade embargo on Iran was lifted, Italy's Sace took the lead in the ECA space, guaranteeing €4 billion in credit lines to...

28 April 2016

Update: Noble set to close $1bn RCF

Earlier this month, Noble launched a $1 billion debt refinancing. With the facility due to close next week, the struggling commodities titan is eagerly awaiting Fitch’s...

18 April 2016

Is BAML retreating from trade and export finance?

A spate of high profile ECA and trade finance departures from Bank of America Merrill Lynch (BAML) has fuelled speculation that the bank is withdrawing from the business...

14 April 2016

ECAs propel cruise-ship market boom

Last week, MSC Cruises signed a letter of intent with STX France for the construction of four LNG-powered ships with France's ECA, Coface, backing the $4.5 billion...

14 April 2016

Opinion: Export finance sector needs to wake up to potential impact of Basel IV

Basel regulators look to introduce new rules and export finance bankers will need to brace for further capital allocation on sovereign risks. Torsten Richter looks at the...

12 April 2016

Engie’s generation sales: end of an era for global IPPs?

European multi-utility Engie announced a swathe of power generation sales on 25 February. The sales cover 13,000 Megawatt (MW) of capacity, as part of what Engie calls...

31 March 2016

Russian coal titan taps cheap ruble for new PXF

SUEK has secured a $1 billion pre-export finance facility showing Russian commodity producers buoyed by a cheap ruble can still access international financing despite...

23 March 2016

Frackers draw down reserve-based loans in latest sign of distress

US shale producers have maxed out their reserve-based loans in a sign of impending bankruptcies, but lenders can expect good recoveries from these, while some frackers...

22 March 2016
in
Oil & gas

DOF Brasil swims against tide for Norwegian export credit

Despite the fall in crude oil prices having taken its toll on demand for offshore vessels over the past year, DOF Brasil recently signed a loan agreement with Norway’s...

21 March 2016

Rusal restructures debt...again

Banks are in talks with Russian aluminium giant Rusal as it restructures and refinances its debt once more amid depressed aluminium prices and a global glut

21 March 2016
in
Renewables

JBIC rides wave of North Sea wind projects

In an industry braced for change, JBIC continues a move into offshore wind with a joint €443 million refinancing on Holland's Luchterduinen wind farm.

18 March 2016

Bleak outlook for Brazilian exporters and importers

The state of trade, commodity and export finance in Brazil: special correspondent Luis Waldmann looks at the avenues that Brazilian exporters have for export, commodity...

11 March 2016
in
Oil & gas

Gazprom agrees 2 billion euro Chinese bilateral loan

In a move which demonstrates the tightening of Russian ties with Chinese financing, Gazprom accessed its biggest ever loan from a private Chinese lender, signing 2...

10 March 2016

KazMunaiGas crashes prepayment party to improve debt profile

Kazakhstan’s state-owned KazMunaiGas is closing a $3 billion prepayment deal with commodities trader Vitol for crude shipments, in an effort to increase liquidity in...