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01 April 2020
in
Metals and Mining

How long can Russian PXF tenors go?

Winning TXF’s Metals/Minerals Commodities Finance Deal of the Year Award, Metalloinvest signed a landmark €200 million pre-export finance (PXF) facility in 2019, with an...

01 April 2020
in
Agri/Soft Commodities

Cofco seals largest ever sustainability-linked loan

Taking home TXF’s Overall Commodities Finance Deal of the Year Award 2019, China’s Cofco signed the largest loan for a trading company yet which is linked to...

17 March 2020
in
Agri/Soft Commodities, Metals and Mining, Oil & gas

Shop talk: Ashurst keeps cool as corporate debt restructuring heats up

During a volatile time for global trade and the commodities market amid the coronavirus pandemic, TXF spoke to Jean Woo, partner at Ashurst in Singapore, to discuss how...

10 March 2020
in
Metals and Mining

Nornickel refi: More than a pricing play

Nornickel has sealed a $4.15 billion refinancing at time when Russian corporate borrowers and international lenders have found their cost of debt aspirations harmonising,...

18 February 2020

Commodity finance: Traders stir up the funding mix

The commodity trade finance funding mix is evolving. Growing regulation, the rise of alternative funds and all things ESG have contributed to the decline in deal volume...

23 January 2020
in
Metals and Mining

Moma: Kenmare turns project debt vanilla

Ireland-based Kenmare Resources returned to the debt markets in December to refinance the remaining debt backing its Moma titanium mine in Mozambique. But this time...

14 January 2020
in
Infrastructure, Other, Renewables

Shop talk: Fonroche sheds light on ECAs for off-grid solar dream

At TXF's PRI conference last month, Pierre Vergnes, head of institutional financing at Fonroche Lighting, explains why the off-grid solar manufacturer taps ECA support...

07 January 2020
in
Power

Shop talk: Sustainability strategies with Gunvor’s first female CFO

Eight months into her new role as CFO at Gunvor, TXF spoke with Muriel Schwab, the first ever woman to fill these shoes at the energy trader, to discuss where the...

02 January 2020

TXF PRI 2019: Santander on brokers and blockchain hype

On the sidelines of TXF’s PRI conference in December, Saqib Mustafa, executive director of structured trade and receivable finance at Santander, spoke to TXF to discuss...

13 December 2019

Sullivan: Fintech in trade - the good, the bad and the impossible

Amid the coffee and croissants at Sullivan's latest trade finance breakfast seminar, partner Geoffrey Wynne discusses where trade fintech currently sits and where it is...

12 December 2019
in
Power

Mercuria's Asian RCF: A close (margin) shave

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...

10 December 2019

Shop talk: Basel IV tests alternative funds in commodity finance

With banks having to implement the finalised version of Basel III (commonly called Basel IV) by 1 January 2022, regulatory requirements are becoming ever complex. TXF...

02 December 2019
in
Oil & gas

LNG: Cross-dressing commodity traders and portfolio players

Commodity traders have always been customers to portfolio players in the LNG space. However, as traders up the signing of long-term offtake contracts, portfolio players...

20 November 2019
in
Power

TXF Geneva: Qbera Capital on thinking outside the box

At the sidelines of TXF Geneva, TXF sat down with Amitji Odedra from Qbera Capital to discuss corporate appetite for diversification in funding, how the trade finance gap...

12 November 2019

A path through the zigs and zags: TXF Commodity Finance Report 2019

This year's edition of TXF’s Commodity Finance Market Report comprises the insights of 173 traders, bankers, alternative financiers, lawyers, brokers, borrowers and...

05 November 2019
in
Metals and Mining

Rusal: Going green or a tinge of greenwash?

Given its status as the world's second largest aluminium producer, Rusal's sustainability-linked loan debut is good news for the growing ESG movement. But like other...

25 October 2019
in
Metals and Mining

Russian corporate borrowing: Is de-dollarisation the answer to sanctions?

De-dollarisation in Russia is on the rise. And with already limited access to the international syndicated loan markets in the face of US sanctions, euro-denominated...

07 October 2019
in
Agri/Soft Commodities

Kernel: Proving bank appetite for Ukrainian corporate debt

Kernel signed a tightly priced $390 million PXF last month – a rare example of a Ukrainian corporate taking the structured trade finance route in 2019. And despite the...

01 October 2019

End of an era: MacNamara’s final say

Before his retirement at the end of last month, after nearly 40 years in the commodity finance sector, TXF spoke with Deutsche Bank’s global head of structured commodity...

22 August 2019

TXF Global: AXA XL on mergers and risk mitigation

Joe Blenkinsopp, global head of market development and distribution for political risk, credit & bond insurance at AXA XL, a division of AXA, talks to TXF from the...