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UniCredit expands CIB senior management structure
UniCredit expands CIB senior management structure
Jonathan Bell
1 April 2015

UniCredit has made senior managerial changes in its corporate & investment banking (CIB) division with the aim to further develop the business in support of a larger and increasingly demanding corporate customer base.

İşbank’s German subsidiary signs debut syndicated loan for trade
İşbank’s German subsidiary signs debut syndicated loan for trade
Jonathan Bell
31 March 2015

İşbank Aktiengesellschaft (İşbank AG), the Frankfurt-based subsidiary of Turkish bank group Türkiye İş Bankası AŞ, has secured its inaugural syndicated loan facility for trade purposes, from an international bank group. The loan saw heavy oversubscription in syndication.

EBRD finances Kazakh copper and gold mine
EBRD finances Kazakh copper and gold mine
Jonathan Bell
31 March 2015

The European Bank for Reconstruction and Development (EBRD) is providing $100 million financing to a copper and gold mine in the Karaganda region of Kazakhstan. The funds will be used to develop more efficient production and reduce emissions and water use from the plant.

Caspian Impact Investments raises financing from OPIC
Caspian Impact Investments raises financing from OPIC
Jonathan Bell
31 March 2015

Caspian Impact Investments (CII) has today closed a debt financing commitment of $20 million from the Overseas Private Investment Corporation (OPIC), the US government’s development finance institution.

ANZ expands RMB capabilities in Shanghai and Hong Kong to support cross-border trade
ANZ expands RMB capabilities in Shanghai and Hong Kong to support cross-border trade
Jonathan Bell
30 March 2015

ANZ has made a number of senior appointments in its renminbi (RMB) banking and trading teams, to support growing volumes of RMB denominated cross-border financing for clients.

IFC commits to the FIG Fund for emerging markets
IFC commits to the FIG Fund for emerging markets
Jonathan Bell
30 March 2015

International Finance Corporation (IFC) has committed up to $200 million to the IFC Financial Institutions Growth Fund (FIG Fund). The FIG Fund’s mandate is to make equity investments alongside IFC in growing emerging market financial institutions

ING closes Coface-backed financing for Korean Air
ING closes Coface-backed financing for Korean Air
Jonathan Bell
27 March 2015

ING Bank has closed another Coface-guaranteed financing for Korean Air Lines (Korean Air). The transaction was structured by ING Capital in New York as the sole arranger.

Louis Dreyfus appoints Asia head of trade finance
Louis Dreyfus appoints Asia head of trade finance
Jonathan Bell
26 March 2015

Commodity trading company Louis Dreyfus Commodities has appointed Vijay Anand Ramanujam as its new regional head of trade finance for Asia. He is based in Singapore.

APICORP secures $950 million shariah-compliant syndicated financing
APICORP secures $950 million shariah-compliant syndicated financing
Jonathan Bell
26 March 2015

Saudi Arabian-based investment company, the Arab Petroleum Investments Corporation (APICORP), has successfully secured new financing through a shariah-compliant syndication totalling $950 million. The transaction attracted significant appetite from regional and international financial institutions.

Mechel appoints new head of corporate finance
Mechel appoints new head of corporate finance
Jonathan Bell
26 March 2015

Russian mining and metals company Mechel has appointed Ekaterina Istratova as its new head of corporate finance. As such, Istratova returns to the company where she worked before becoming a banker, but this time as head of the department.

ABN strengthens ECT team with senior originator appointment
ABN strengthens ECT team with senior originator appointment
Jonathan Bell
26 March 2015

ABN AMRO has strengthened the sector focus of its energy, commodities & transportation (ECT) clients business with the appointment of Albena Vassileva. She has the title of senior originator in the sector origination team and will be responsible for financial sponsors coverage for ECT clients.

NEXI cover for Caterpillar exports to Turkey
NEXI cover for Caterpillar exports to Turkey
Jonathan Bell
26 March 2015

Nippon Export and Investment Insurance (NEXI) is providing credit guarantees to an overall approximate €45.4 million ($49.4 million) transaction financing Caterpillar Corporation (Japan) hydraulic shovels to Turkey.

JB's weekly round up - 26 March 2015
JB's weekly round up - 26 March 2015
Jonathan Bell
26 March 2015

FIMBank group has recently announced its financial results for 2014, in which it posts a pre-tax loss of $53.43 million. This compares to a pre-tax loss of $6.4 million in 2013. The bank has also lost a number of senior personnel at the same time. Find out who, and much more, here. Despite this, the bank entitles its financial report for 2014 as “Positive outlook after high impact of impairments”.

Delcredere/Ducroire doubles its forfaiting capacity to support SMEs
Delcredere/Ducroire doubles its forfaiting capacity to support SMEs
Jonathan Bell
25 March 2015

The Belgian public credit insurer Delcredere/Ducroire has announced that it will intensify its programme of support for small and medium-sized enterprises (SMEs). As such, the institution will double the capacity allocated to its forfaiting product base

Talking export and project finance with MUFG's Andrew Jameson
Talking export and project finance with MUFG's Andrew Jameson
Jonathan Bell
24 March 2015

TXF Interviews Andrew Jameson, general manager, investment banking division for EMEA at Mitsubishi UFJ Financial Group

Middle East banks’ share of GTB revenues to increase 25% by 2025
Middle East banks’ share of GTB revenues to increase 25% by 2025
Jonathan Bell
24 March 2015

Middle East banks are set to increase their share of global transaction banking (GTB) revenues by at least 25%, according to a survey conducted by iGTB, a transaction banking platform from Intellect Design Arena. Critical to this success will be innovative technology.

Tullow Oil secures additional funds under its existing credit facilities
Tullow Oil secures additional funds under its existing credit facilities
Jonathan Bell
20 March 2015

Tullow Oil has today announced that it has in conjunction with its lending banks secured an additional $450 million financing under its existing credit facilities, as well as amending financial covenants under its reserve based lending (RBL) and corporate facilities.

FIMBank financial losses and departures, begs the question: which direction now?
FIMBank financial losses and departures, begs the question: which direction now?
Jonathan Bell
20 March 2015

FIMBank group has recently announced its financial results for 2014, in which it posts a pre-tax loss of $53.43 million. This compares to a pre-tax loss of $6.4 million in 2013. The bank has also lost a number of senior personnel at the same time. Despite this, the bank entitles its financial report for 2014 as “Positive outlook after high impact of impairments”.

Nordsee One reaches financial close
Nordsee One reaches financial close
Jonathan Bell
20 March 2015

Project sponsors, Northland of Canada and RWE Innogy (RWE) the German utility, have announced that the €1.2 billion ($1.3 billion) Nordsee One wind farm project has reached financial close. All of the equity contributed to the project and all debt required for the project is now fully committed by the project lenders.

BNY Mellon treasury services appoints head of sales for Asia-Pacific
BNY Mellon treasury services appoints head of sales for Asia-Pacific
Jonathan Bell
20 March 2015

BNY Mellon has appointed Arnon Goldstein as head of sales & relationship management, treasury services, for Asia-Pacific. He will be based in Singapore. Goldstein brings over 18 years of professional and regional experience to his new position, having served in a series of increasingly responsible transaction banking and client relationship management positions in New York, Shanghai and Singapore.

First Quantum gets banks’ agreement to amend covenant
First Quantum gets banks’ agreement to amend covenant
Jonathan Bell
19 March 2015

Global mining company First Quantum Minerals has reached an agreement with its bankers to amend a covenant within its existing trade facilities. Making the announcement today, First Quantum says that the required threshold of syndicate banks have agreed to the changes requested by the company to the net debt to EBITDA

EBRD and Taiwan’s Eximbank team for infra projects
EBRD and Taiwan’s Eximbank team for infra projects
Jonathan Bell
19 March 2015

The European Bank for Reconstruction and Development (EBRD) and Taiwan’s Export-Import Bank of the Republic of China (Eximbank) have agreed to boost their cooperation and co-finance infrastructure projects in regions where the EBRD invests.

Star Bulk highlights four new financing arrangements
Star Bulk highlights four new financing arrangements
Jonathan Bell
19 March 2015

Athens-headquartered, New York-listed shipping line Star Bulk has just released its results for 2014 and also provides an update on more recent financing undertaken by the company. In particular, the company announced today that it had entered into four new financing arrangements over the course of the past month or so.

Japan’s major steel mills select Bolero for ePresentation
Japan’s major steel mills select Bolero for ePresentation
Jonathan Bell
18 March 2015

The electronic trade platform Bolero has announced that four major steel mills in Japan have now selected Bolero to use its ePresentation platform to facilitate faster and more efficient transactions with key trading hubs such as Australia and South America.

EBRD helps fund Egypt’s agricultural commodities trade
EBRD helps fund Egypt’s agricultural commodities trade
Jonathan Bell
18 March 2015

The European Bank for Reconstruction and Development (EBRD) is providing a $20 million loan, to partly finance the working capital of Medsofts, a family-owned company based in Egypt, and one of the key agricultural commodity importers and supply chain managers in the country.

HSBC is first to complete trade transaction under new rules for Shanghai FTZ
HSBC is first to complete trade transaction under new rules for Shanghai FTZ
Jonathan Bell
17 March 2015

HSBC has become the first foreign bank to complete a transaction under the new offshore borrowing policy within the Shanghai Free Trade Zone (FTZ). The Chinese authorities recently further relaxed the rules governing offshore borrowing activities via Free Trade Accounts (FTAs) in the zone – which has allowed this deal to take place.

JB's weekly round up - 17 March 2015
JB's weekly round up - 17 March 2015
Jonathan Bell
17 March 2015

Last week Valerie Colville and Francisco Anzola of CC Solutions did a wonderful job (alongside UKEF and Milbank) as the hosts with the most at the inaugural London school.

Agencies provide loan to Morocco’s BMCE Bank for energy projects
Agencies provide loan to Morocco’s BMCE Bank for energy projects
Jonathan Bell
17 March 2015

Four development financing agencies have teamed to provide a loan to Morocco’s BMCE Bank to be used in sustainable energy projects. The agencies involved are: the European Bank for Reconstruction and Development (EBRD), the Agence Française de Développement (AFD), the European Investment Bank (EIB) and Kreditanstalt für Wiederaufbau (KfW).

Orascom pushes ahead with Egyptian $3 billion coal-fired power plant project
Orascom pushes ahead with Egyptian $3 billion coal-fired power plant project
Jonathan Bell
16 March 2015

Dubai-headquartered Orascom Construction (OC) has announced today that it is to move ahead rapidly with its planned 3,000 MW coal-fired power plant in Egypt, with an initial cost of $3 billion. OC’s consortium with Abu Dhabi-based International Petroleum Investment Company (IPIC) has signed a development agreement as an addition to the existing memorandum previously signed with the Egyptian government in November 2014.

Trafigura names Christophe Salmon as new CFO – as of October 2015
Trafigura names Christophe Salmon as new CFO – as of October 2015
Jonathan Bell
16 March 2015

Commodity trading company Trafigura Beheer has today announced that Christophe Salmon will become the company’s new chief financial officer (CFO) as of 1 October 2015.

Maersk Line announces new CFO
Maersk Line announces new CFO
Jonathan Bell
13 March 2015

Shipping company Maersk Line has announced that Pierre Danet will become the new chief financial officer of the company as of 7 April 2015. He will also be part of the management board of Maersk Line.

MIGA appoints corporate risk director
MIGA appoints corporate risk director
Jonathan Bell
12 March 2015

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, has appointed a new director of corporate risk.

Mercuria looks to expand marine fuel business
Mercuria looks to expand marine fuel business
Jonathan Bell
12 March 2015

Commodity trader Mercuria Energy is expanding its marine fuel division - Minerva Maritime Fuel – with the announcement today that it is looking to hire 20 to 40 bunker fuel specialists.

AfDB makes loan to ABC Holdings in Botswana, Mozambique and Zimbabwe
AfDB makes loan to ABC Holdings in Botswana, Mozambique and Zimbabwe
Jonathan Bell
12 March 2015

The African Development Bank (AfDB) through its private sector window has approved a multi-currency loan to ABC Holdings (ABCH) in Botswana, Mozambique and Zimbabwe for on-lending to clients in various sectors of the economy.

IFC and CelsiusPro partner to expand access to insurance and finance for Ukrainian farmers
IFC and CelsiusPro partner to expand access to insurance and finance for Ukrainian farmers
Jonathan Bell
12 March 2015

The World Bank group and Swiss index-insurance specialist CelsiusPro have partnered to make agricultural insurance in Ukraine more affordable for smaller companies, expanding farmers’ access to financial services and helping boost agricultural productivity.

Boost for MENA trade credit insurance as Lloyd’s of London opens Dubai office
Boost for MENA trade credit insurance as Lloyd’s of London opens Dubai office
Jonathan Bell
11 March 2015

Lloyd’s of London has officially opened a new specialist underwriting platform in Dubai today to provide tailored risk solutions across the Middle East and North Africa (MENA).

GIEK provides financing for Ulstein PSV
GIEK provides financing for Ulstein PSV
Jonathan Bell
11 March 2015

The Norwegian export credit agency GIEK has issued a buyer credit guarantee of NOK123.4 million ($14.9 million) for the long-term post financing of the platform supply vessel (PSV) Blue Queen.

HSBC introduces RMB sweeping for German clients
HSBC introduces RMB sweeping for German clients
Jonathan Bell
11 March 2015

HSBC in Germany has won a mandate to implement a fully-automated two-way renminbi (RMB) sweeping solution between China and Germany for Group, the global fastening products group. The agreement paves the way for the first implementation of its kind for the Chinese currency in Germany.

JB's weekly round up - 10 March 2015
JB's weekly round up - 10 March 2015
Jonathan Bell
10 March 2015

After a great deal of help from those in the industry, we are delighted to share the first edition of our brochure for TXF Paris 2015.

JBIC provides credit line for Thai lease financing
JBIC provides credit line for Thai lease financing
Jonathan Bell
10 March 2015

The Japan Bank for International Cooperation (JBIC) together with private financial institutions has signed to provide a $40 million credit line to SMFL Leasing (Thailand) (SMFLT), a Thai subsidiary of Sumitomo Mitsui Finance and Leasing Company, (SMFL), for supporting the overseas business of Japanese mid-tier enterprises and small- and medium-sized enterprises (SMEs).

Baker & McKenzie boosts South African projects and energy team
Baker & McKenzie boosts South African projects and energy team
Jonathan Bell
10 March 2015

Law firm Baker & McKenzie has expanded its presence in South Africa with the addition of leading projects and energy partner Kieran Whyte. He will be based in Johannesburg.

Absa leads in club RBL deal for PetroSA Ghana
Absa leads in club RBL deal for PetroSA Ghana
Jonathan Bell
9 March 2015

PetroSA Ghana, a subsidiary of South Africa's National Oil Company PetroSA, has signed a new reserve based lending (RBL) credit facility with a club of lenders.

JinkoSolar signs strategic financing deal with China Minsheng
JinkoSolar signs strategic financing deal with China Minsheng
Jonathan Bell
9 March 2015

Shanghai-headquartered photovoltaic (PV) solar manufacturing company JinkoSolar Holding has entered into a strategic financing agreement with China Minsheng Banking Corporation (CMBC).

ADFD signs pact with Kexim to cooperate in project co-financing
ADFD signs pact with Kexim to cooperate in project co-financing
Jonathan Bell
9 March 2015

Abu Dhabi Fund for Development (ADFD) has signed an agreement with the Export-Import Bank of Korea (Kexim) to enhance collaboration in project co-financing across emerging economies.

Bunge signs deal with essDOCs to move to electronic bills of lading
Bunge signs deal with essDOCs to move to electronic bills of lading
Jonathan Bell
6 March 2015

Agricultural and food commodity trading company Bunge has become the latest global trading house to move its documentation to full electronic format through an agreement with essDOCS, the electronic trade enabling company.

Noble Group hits back at unfounded accountancy allegations
Noble Group hits back at unfounded accountancy allegations
Jonathan Bell
5 March 2015

Hong Kong-headquartered commodity trading company Noble Group has hit back strongly today refuting allegations from a hitherto unknown entity – Iceberg Research - that it had used inappropriate accounting methods to among other things, disguise the correct value of certain assets and overstate the value of long-term commodity contracts.

Deutsche appointed by GT Nexus for global cash management
Deutsche appointed by GT Nexus for global cash management
Jonathan Bell
4 March 2015

Deutsche Bank has been appointed as a global cash management bank for GT Nexus, the world’s largest cloud-based business network and execution platform for global trade and supply chain management.

Tungsten approved to offer invoice financing in Germany, France and Italy
Tungsten approved to offer invoice financing in Germany, France and Italy
Jonathan Bell
4 March 2015

Tungsten Bank, a subsidiary of Tungsten Corporation, the global eInvoicing, invoice finance and analytics company, has been approved to provide banking services in Germany, France and Italy.

SMBC and JBIC combine for loans to Turkish-Japanese steel JV
SMBC and JBIC combine for loans to Turkish-Japanese steel JV
Jonathan Bell
3 March 2015

Sumitomo Mitsui Banking Corporation (SMBC) and the Japan Bank for International Cooperation (JBIC) have teamed to provide loans to a joint venture (JV) company in Turkey to support steel production and sales.

JB's weekly round up - 3 March 2015
JB's weekly round up - 3 March 2015
Jonathan Bell
3 March 2015

Last week in London TXF held an evening presentation related to its first ECA data report for 2014.