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05 April 2016

Trafigura signs mammoth RCF and expands Japanese financing

In a move that highlights traders’ ability to succeed in volatile markets, Trafigura last week signed a $5.1 billion syndicated revolving credit facility and its largest...

01 April 2016

KazMunaiGas signs $3bn prepayment deal as it reduces debt pile

KazMunaiGas has signed a $3 billion pre-payment facility - a vital win for the Kazakh oil and gas company which was in danger of breaching its existing loan covenants as...

01 April 2016

Exclusive: Sierra Rutile seeks debut PXF

Sierra Rutile is in talks with banks for its first pre-export financing as it plans to restructure its existing debt. However, many banks continue to be wary of lending...

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...

30 March 2016

Blockchain: the future of trade finance?

Blockchain, or distributed ledger technology, is the word on everybody’s lips in financial circles. TXF’s Helen Reid looks in depth at the technology’s applications to...

24 March 2016

International banks enter Chinese downstream with Qingyuan prepay

China's largest base oil producer secured a prepayment with six international banks, a first in the downstream market there, which indicates a turn towards international...

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...

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

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...

07 March 2016

Agencies watch Noble’s revolver negotiations

Hong Kong-based commodities trader Noble Group is in talks to refinance a $1 billion revolving credit facility. If pricing on the new loan does triple, as reports...

02 March 2016

Nigeria’s NNPC bid for transparency attracts lenders

International banks are showing renewed interest in investments in Nigeria’s oil sector, as the new management of state-owned Nigerian National Petroleum Corporation...

02 March 2016
in
Metals and Mining

Glencore's revolver and results paint brighter picture for trader

Glencore plans to ramp up debt reduction, cutting net debt to $17 billion-$18 billion by the end of this year, as it announced big losses in its annual results. The news...

25 February 2016
in
Power

TXF Export Finance Data Report: ECAs back fewer energy deals in 2015

Energy overtook transport as the biggest single sector for ECA-supported deals in 2015 with $30.9 billion in total volumes, according to TXF Data's 2015 Export Finance...

22 February 2016

The dragon in the Andes: China pushes risky LatAm loans

Chinese development banks lent a total of $29.1 billion to Latin America in 2015 – nearly triple the amount of 2014, and more than the combined lending from the...

19 February 2016
in
Oil & gas

Reserve-based lending feels the squeeze from low oil prices

Low oil prices prompted BNP Paribas last week to “halt” any new US reserve-based lending (RBL) from its Houston office. Sources state other lenders will continue to offer...

12 February 2016

Lundin signs Europe’s largest reserve-based loan

As oil prices reached 12-year lows with wide-ranging consequences for the petroleum industry, Lundin Petroleum (Lundin) sealed the largest-ever reserve-based lending deal...

25 January 2016

India’s economic ‘Modification’ still not delivering on ECA finance

Despite India’s massive size and forecasts that it could challenge China as the world’s growth engine within a decade, uptake of export credit in the country continues to...

28 December 2015
in
Agri/Soft Commodities, Oil & gas

Year in review: commodity financing

Jonathan Bell, TXF’s Editor in Chief, picks his favourite commodity financing stories from 2015.

16 December 2015

Commodity investor interviews: INOKS Capital calls for a more institutional approach

In part three of our interview series, TXF’s Helen Castell talks to INOKS Capital chief executive Nabil Marc Abdul-Massih about the importance of regulation and his...