TXF APAC Trade & Commodity Finance 2021
Join us while we are looking into the commodity finance sector for the Asia Pacific region. Connect with key players and hear about current and future deals.
BEST OVERALL ECA/PROJECT FINANCE DEAL OF THE YEAR Dalia Gebrial reviews a complex multisource ﬁnance bringing seven export credit agencies together in Turkey.
BEST ASIA-PACIFIC ECA FINANCE DEAL OF THE YEAR Dalia Gebrial reviews a landmark ﬁnancing for Reliance developed with solid support from Kexim.
Finacity Corporation (Finacity), the receivables finance company, has announced it has served as advisor – and will serve as ongoing reporting administrator – for a new $50 million US government obligations-only receivables funding programme.
The Export-Import Bank of the United States (US Ex-Im), along with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), is providing a $55 million loan for the refurbishing of Pakistan International Airlines (PIA) engines by General Electric (GE).
The Asian Development Bank (ADB) has expanded its trade finance programme (TFP) in Nepal by $40 million in order to help local banks finance the import of goods needed for reconstruction and immediate relief in the wake of the recent earthquake.
The European Bank for Reconstruction and Development (EBRD) is providing Georgia’s BasisBank with a $31.5 million loan package in order to promote small and medium-sized enterprises (SMEs), energy efficiency measures and access to trade finance.
The Australia and New Zealand Bank (ANZ) has launched its $3 billion Trade Lending Pledge for small and medium-sized Australian businesses looking to either grow or trade with offshore markets, with a particular focus on Asia.
In a recent interview with the Financial Times, Scott Scherer, Boeing’s head of regulatory strategy, has said that the aerospace and defence group would consider taking action should US export credit agency (ECA) the Export-Import Bank of the United States (US Ex-Im) not be reauthorised on 30 June.
Working capital solutions provider Demica has appointed Tim Davies to the newly created role of head of origination, Europe. He will report directly to Demica’s chief executive officer (CEO) Matt Wreford.
Russian state corporation Vnesheconombank (VEB) has increased business with Chinese institutions by signing a $8 billion framework credit agreement with China Development Bank (CDB) and a credit line agreement with Chinese export credit agency the Export-Import Bank of China (China Exim).
Trade credit insurer Euler Hermes has appointed three regional chief executive officers (CEO) to its German, Austrian, Swiss (DACH), World Agency and French offices, and a new head of risk activities in the Mediterranean, Middle East and Africa (MMEA) region.
German export credit agency (ECA) Euler Hermes has signed a distribution agreement with Al Hilal Takaful – the takaful insurance subsidiary of the state-owned and fully Islamic UAE bank, Al Hilal Bank.
The Inter-American Development Bank (IADB) has provided two financial packages, totalling $216 million, for the construction of the Colonia Arias and Valentines wind farms in Uruguay. The financing will be raised through an Initial Public Offering (IPO).
A lack of capacity in the financial sector is severely impacting the trading potential of poor countries, says Roberto Azevêdo, the sixth director general of the World Trade Organisation (WTO).
Croatia’s third largest bank by assets, Erste Bank Croatia, has joined the European Bank for Reconstruction and Development’s (EBRD) Trade Facilitation Programme (TFP) in an effort to boost local and regional trade.
Swiss-based commodities investment manager Scipion Group has appointed Taran Bains as its new head of sales and marketing.
The International Trade and Forfaiting Association (ITFA) has teamed up with international financial services association BAFT to provide a joint, industry-standard legal opinion for banks to use in satisfying new regulatory requirements from the EU.
The third subsidiary of the Texas Freeport LNG Expansion (Freeport LNG) project, FLNG Liquefaction 3 (FLIQ3), has successfully closed $3.692 billion worth of secured credit facilities from a group of 27 commercial banks.
Gert Van Melkebeke will be joining Commerzbank’s structured export and trade finance BeNeLux (Belgium, Netherlands and Luxembourg) France division as a senior export finance manager, TXF has learned. His new role will be effective as of 1 June.
Peru’s largest wind project has secured two financing agreements, totalling $254 million, from French bank Natixis.
Swiss-headquartered holding company MET Holdings has secured a €400 million ($427.46 million) senior secured multicurrency credit facility from a group of international banks, TXF has learned.
The Singapore-based provider of floating production, storage and offloading (FPSO) vessel and related services PV Keez, has secured a $171 million syndicated loan from a team of international banks, TXF has learnt.
Masahiro Goda has been appointed to the newly created role of executive director of global trade finance at Mizuho Bank (Mizuho), as part of a series of moves within its senior global trade finance team.
ING Bank is providing Singapore-based shipping company Quantum Pacific Shipping with a $344.7 million loan, which will be backed by Korean export credit agency (ECA) Korea Trade Insurance Corporation (K-sure), TXF has learnt.
The Kuwait Foreign Petroleum Exploration Company (KUFPEC), a subsidiary of Kuwait’s national oil company Kuwait Petroleum Corporation, has exercised the $1.5 billion accordion feature under its existing $1 billion five-year term loan facility, which was signed in November 2014.
A federal US judge has thrown out a long-held suit – led by domestic airline Delta Airlines – against the US export credit agency (ECA), the Export-Import Bank of the United States (US Ex-Im).
The Multilateral Investment Guarantee Agency (MIGA) is providing guarantees covering $330 million worth of financing from a syndicate of banks for the Turkish export credit agency, Turk Eximbank.
SeaMex has secured a $750 million syndicated credit facility from a group of 13 international banks, TXF has learnt. The facility will allow the company to develop five oil rigs for Mexican state-owned oil firm Petróleos Mexicanos (Pemex).
Chinese aircraft lessor China Aircraft Leasing Group (CALC) has completed its first aircraft financing backed by an export credit agency (ECA) guarantee – a $224 million facility guaranteed by UK ECA UK Export Finance (UKEF).
German development bank KfW IPEX-Bank is providing a ZAR2.1 billion loan ($180 million) to the South African subsidiary of Enel Green Power (Enel). This is the first loan granted by KfW IPEX-Bank to the Italian renewable energy company.
Dutch commodities trader Vitol Holding (Vitol) is seeking to secure a $470 million guarantee from the Multilateral Investment Guarantee Agency (MIGA) for an equity investment in the Sankofa Gas Field) in Ghana.
Japanese export credit agency (ECA) the Japan Bank for International Cooperation (JBIC) and compatriot bank Mizuho have co-financed four untied loan agreements with private and public financial institutions in Brazil, Turkey and South Africa in support of renewable energy projects.
Japanese bank Sumitomo Mitsui Banking Corporation (SMBC) is providing Tanzania Electric Supply Company (TANESCO), the country’s national power company, with a $117 million loan for the Kinyerezi power project.
Commodity trader Trafigura has signed a $5.3 billion multi-currency revolving credit facility (RCF) with a syndicate of 51 banks. Initially launched at $4.25 billion, the flagship facility for the trader’s European operations was heavily oversubscribed.
Canadian export credit agency (ECA) Export Development Canada (EDC) has provided the Spanish satellite communications operator, Hispasat Group (Hispasat), with a €140 million ($154.13 million) loan for the construction of the Amazonas 5 satellite.