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Global heads interview – Standard Chartered Bank
Global heads interview – Standard Chartered Bank
Jonathan Bell
11 September 2013

TXF talks to Standard Chartered Bank about the current state of the trade and supply chain finance market.

Global head interview – UniCredit
Global head interview – UniCredit
Jonathan Bell
11 September 2013

TXF talks to UniCredit about the current state of the trade and supply chain finance market.

Global head interview – BNP Paribas
Global head interview – BNP Paribas
Jonathan Bell
11 September 2013

TXF talks to BNP Paribas about the current state of the trade and supply chain finance market.

Global head interview – Barclays
Global head interview – Barclays
Jonathan Bell
11 September 2013

TXF talks to Barclays about the current state of the trade and supply chain finance market.

Global head interview – Deutsche Bank
Global head interview – Deutsche Bank
Jonathan Bell
11 September 2013

TXF talks to Deutsche Bank about the current state of the trade and supply chain finance market.

Global head interview – HSBC
Global head interview – HSBC
Jonathan Bell
11 September 2013

TXF talks to HSBC about the current state of the trade and supply chain finance market.

Global head interview – Citi
Global head interview – Citi
Jonathan Bell
11 September 2013

TXF talks to Citi about the current state of the trade and supply chain finance market.

AFC obtains credit line through Proparco and EFP
AFC obtains credit line through Proparco and EFP
Jonathan Bell
9 September 2013

The Africa Finance Corporation (AFC) has secured a €50 million ($65.8 million) credit line provided by the French development agency Proparco together with European Financing Partners (EFP*). The Proparco-led line of credit has a tenor of 10-years and is a dual currency facility of euros and US dollars. The EFP tranche (€25 million) will be drawn in US dollars and will be utilised to fund Nigeria and Anglophon

EBRD loan for Budapest public transport
EBRD loan for Budapest public transport
Jonathan Bell
6 September 2013

The European Bank for Reconstruction and Development (EBRD) has agreed to provide a €54.5 million ($71.8 million) loan to the publicly-owned Budapesti Közlekedési Központ Zártkörűen Működő Részvénytársaság (BKK), for the development and implementation of a modern automated fare collection system for public transport users in Budapest

Dangote secures mega-loan for Nigerian refinery
Dangote secures mega-loan for Nigerian refinery
Jonathan Bell
6 September 2013

In a landmark transaction and development for Nigeria and West Afirca, Nigeria’s Dangote Industries has signed a medium-term $3.3 billion loan agreement with a consortium of both local and international banks to construct the biggest petroleum oil refinery and petrochemical/ fertiliser plants in Nigeria.

Trafigura Eurasia opens in Moscow
Trafigura Eurasia opens in Moscow
Jonathan Bell
5 September 2013

International commodities trading and logistics company Trafigura, has opened a new Russia-based business - Trafigura Eurasia, which the company sees as a vital cog in its operations and one that will bring new competition to the CIS region.

UKEF launches direct lending scheme
UKEF launches direct lending scheme
Jonathan Bell
5 September 2013

UK Export Finance (UKEF), the export credit agency of the UK, has officially announced the launch of its direct lending scheme. The new lending scheme will help overseas buyers purchase the goods of UK exporters. Specifically, it will support exports where buyers need loans of up to £50 million ($78 million)

BofAML expands GTS team in London
BofAML expands GTS team in London
Jonathan Bell
4 September 2013

Bank of America Merrill Lynch (BofAML) has made several appointments expanding its Europe, Middle East and Africa (EMEA) sales team within global transaction banking (GTS) in London.

Deutsche opens branch in Qingdao, China
Deutsche opens branch in Qingdao, China
Jonathan Bell
4 September 2013

Deutsche Bank has opened a new branch in Qingdao, China following the approval from the China Banking Regulatory Commission (CBRC). The Qingdao branch is the bank’s sixth branch in China, complementing others in Beijing, Shanghai, Guangzhou, Tianjin and Chongqing.

Albania’s Union Bank expands trade finance offering
Albania’s Union Bank expands trade finance offering
Jonathan Bell
3 September 2013

Albania’s Union Bank Albania has been able to expand its trade finance offering following an injection of funds from the IFC. The funds will specifically be used to increase financing to small and medium-sized enterprises (SMEs) that work in imports and exports.

EuroChem signs debut unsecured facility
EuroChem signs debut unsecured facility
Jonathan Bell
2 September 2013

Russian fertiliser production company EuroChem has signed a $1.3 billion loan facility on a club basis. The transaction is unsecured, and as such is the company’s first deal of this kind in the international bank debt market.

China Gas signs credit facility with EDC
China Gas signs credit facility with EDC
Jonathan Bell
30 August 2013

China’s leading piped-gas operator, China Gas Holdings (China Gas) has signed a $250 million credit facility with Export Development Canada (EDC). The loan has a four-year tenor and carries an interest rate of three-month Libor plus 225 basis points (bp).

PetroVietnam signs buyer credit for steam turbines
PetroVietnam signs buyer credit for steam turbines
Jonathan Bell
29 August 2013

The Vietnam Oil and Gas Group (PetroVietnam) has signed a buyer’s credit financing with the Japan Bank for International Cooperation (JBIC) and commercial banks to finance the import of steam turbines and other equipment. The overall financing amounts to $141 million, of which JBIC

IFC loan backs Olam’s Nigerian and Indian projects
IFC loan backs Olam’s Nigerian and Indian projects
Jonathan Bell
28 August 2013

International Finance Corporation (IFC) and Olam International, a Singapore-headquartered global integrated supply chain manager and processor of agricultural products, have signed a five-year $120 million loan agreement to finance upgrades and expansion of five food processing facilities in Nigeria and India.

Albania’s Credins Bank gets trade loan
Albania’s Credins Bank gets trade loan
Jonathan Bell
28 August 2013

The European bank for Reconstruction and Development (EBRD) is providing Albania’s Credins Bank with €10 million ($13.3 million) in loans for on-lending to local small and medium-sized enterprises and supporting trade finance solutions for clients of the bank.

Olam US credit facility oversubscribed
Olam US credit facility oversubscribed
Jonathan Bell
28 August 2013

Singapore-headquartered, agri-products producer and trading company Olam International (Olam) has signed a $400 million revolving credit facility (RCF), in a syndication which saw the facility heavily oversubscribed. Olam signed the RCF for its US subsidiary Olam Holdings Partnership. The three-year facility

BNPP in landmark securitisation of commodity receivables
BNPP in landmark securitisation of commodity receivables
Jonathan Bell
27 August 2013

BNP Paribas (BNPP) has completed a securitisation of commodity trade finance loan receivables, in a $131.6 million transaction through the special platform Lighthouse Trade Finance Issuer. The transaction is a first of its kind in the trade market where the debt issuance is backed by commodity loan receivables, and as such opens up a new funding route for commodity trade finance.

UBS selects MIT's TRAC to support its commodity trade finance business
UBS selects MIT's TRAC to support its commodity trade finance business
Jonathan Bell
26 August 2013

Swiss banking group UBS has selected TRAC (Trade Risk Active Control) – developed by software company MIT – to support its fast growing commodity trade finance (CTF) business. The bank is understood to have chosen this particular software system after considering several other options.

US Ex-Im grants new direct loan for SpaceX launch
US Ex-Im grants new direct loan for SpaceX launch
Jonathan Bell
23 August 2013

The Export-Import Bank of the United States (US Ex-Im) has approved a $105.4 million direct loan to Space Communication of Ramat Gan, Israel, to finance the Space Exploration Technologies (SpaceX) launch of the Amos-6 communications satellite, the purchase of US-made solar arrays, and insurance brokered by Marsh USA (Marsh).

Noble Corporation secures credit facility
Noble Corporation secures credit facility
Jonathan Bell
22 August 2013

Offshore drilling contractor Noble Corporation has signed a $600 million unsecured revolving credit agreement with a syndicate of banks. Noble Cayman is the borrower of record under the terms of the $600 million, one-year facility, which allows for up to $50 million to be available for swingline loans.

Globe Specialty Metals enhances flexibility with refinancing
Globe Specialty Metals enhances flexibility with refinancing
Jonathan Bell
20 August 2013

US-headquartered Globe Specialty Metals has refinanced its existing $300 million credit facility with a syndicate of banks led by Providence-based RBS Citizens Bank, and co-led by PNC Bank and Wells Fargo Bank, as joint bookrunning mandated lead arrangers. : BBVA Compass joined as an MLA

Trafigura closes North American revolver oversubscribed
Trafigura closes North American revolver oversubscribed
Jonathan Bell
16 August 2013

Commodity trading company Trafigura AG has closed its North American secured syndicated revolving credit facility (RCF) at $1.385 billion following strong demand. Trafigura AG is a wholly-owned subsidiary of Trafigura Beheer BV.

New executive director named for International Trade Centre
New executive director named for International Trade Centre
Jonathan Bell
15 August 2013

The United Nations has announced the appointment of Arancha Gonzalez of Spain as executive director of the International Trade Centre (ITC), the joint agency of the United Nations Conference on Trade and Development (UNCTAD) and World Trade Organisation (WTO) for trade and international business development.

Rio Tinto appoints financial adviser for Oyu Tolgoi power plant
Rio Tinto appoints financial adviser for Oyu Tolgoi power plant
Jonathan Bell
14 August 2013

Rio Tinto has appointed a financial adviser for a new 450MW captive coal-fired power plant at its Oyu Tolgoi copper and gold mining project in Mongolia. Société Générale CIB (SG CIB) has been mandated to help in the bidding and financing of the captive power plant, which will supply electricity to the mine. Rio Tinto is expected to issue a request for proposals later this year and hopes to start construction of the power plant in 2014.

Innergex closes financing for Viger-Denonville wind project
Innergex closes financing for Viger-Denonville wind project
Jonathan Bell
13 August 2013

Project sponsor, Innergex Renewable Energy (Innergex) has closed the C$61.7 million ($59.7 million) non-recourse project financing for the 24.6MW Viger-Denonville Community Wind Farm located in Quebec, Canada. The financing has a tenor of 18-years, closely matching the duration of the contract to purchase electricity from the project.

EBRD loan for Kazakh food producer
EBRD loan for Kazakh food producer
Jonathan Bell
9 August 2013

The European Bank for Reconstruction and Development (EBRD) is providing a $25 million loan to RG Brands, a food and beverage producer in Kazakhstan. The loan, which is available both in tenge and US dollars will support the company’s growing working capital needs to purchase raw materials and expand its presence in Kazakhstan and neighbouring countries.

IUA launches political risks group
IUA launches political risks group
Jonathan Bell
5 August 2013

The International Underwriting Association (IUA) has launched a new London market political risk committee. The group is made up of underwriting and claims representatives from across the association’s member companies and will meet regularly to discuss issues affecting political risk business.

Metinvest appoints a new CFO
Metinvest appoints a new CFO
Jonathan Bell
2 August 2013

Russian steel producer and mining group Metinvest has appointed Aleksey Kutepov as its new chief financial officer (CFO). As CFO he replaces Sergiy Novikov, who will continue to work within the Metinvest Group. Novikov has been CFO since Metinvest was founded in 2006. He built the financial processes inside the group, oversaw the group’s debut Eurobond issue, and supported a number of M&A transactions

Borrowing base facility secured for Gunvor’s German refiner
Borrowing base facility secured for Gunvor’s German refiner
Jonathan Bell
1 August 2013

Energy trader Gunvor has signed a new $500 million borrowing base, revolving credit facility to finance the working capital needs of the company’s refinery in Ingolstadt, Germany.

Concord Energy secures revolving credit
Concord Energy secures revolving credit
Jonathan Bell
30 July 2013

Colorado, US-headquartered oilfield services company Concord Energy Holdings has signed a new $180 million, one-year revolving credit facility. The funds will be used to amend and extend an existing $235 million facility signed in August 2012.

Colonial Oil renews RCF
Colonial Oil renews RCF
Jonathan Bell
27 July 2013

The facility signed amounts to $600 million, and carries a tenor of one-year. This new arrangement amends an existing $1.15 billion facility signed in second quarter 2012.

Petrobras signs financing package with Japanese institutions
Petrobras signs financing package with Japanese institutions
Jonathan Bell
16 July 2013

Brazilian oil company Petrobras has signed two financing programmes with the Japan Bank for International Cooperation (JBIC) for the offer of two lines of credit amounting to $1.5 billion.

BAFT-IFSA announces head of trade services
BAFT-IFSA announces head of trade services
Jonathan Bell
15 July 2013

BAFT-IFSA, the US-headquartered international financial services association, has appointed Stacey Facter as the association’s new senior vice president of trade services.

StanChart signs bilateral RMB loan with Shenzhen International
StanChart signs bilateral RMB loan with Shenzhen International
Jonathan Bell
11 July 2013

The transaction marks the beginning of a new collaboration between both parties.

David Hennah rejoins Misys as head of trade
David Hennah rejoins Misys as head of trade
Jonathan Bell
2 July 2013

Trade industry specialist David Hennah has moved back to Misys after an eight-year stint with SWIFT. He has been hired by Misys as head of product management practice for the company’s integrated trade and supply chain finance solution, Misys TI Plus and Trade Portal.

Shoreline Natural Resources secures RBL financing
Shoreline Natural Resources secures RBL financing
Jonathan Bell
2 July 2013

Oil producer Shoreline Natural Resources (Shoreline) in Nigeria has secured a refinancing facility which gives it better terms, structure and a longer tenor over an existing bridge loan facility. The refinancing is structured as a five-year $500 million senior secured revolving reserves based lending (RBL) facility. The new facility can be increased up to $600 million.

BB Energy finds loan success
BB Energy finds loan success
Jonathan Bell
1 July 2013

The Netherlands-based arm of energy trading company BB Energy has secured a revolving credit facility (RCF) arranged by relationship banks. The $125 million, one-year facility is believed to be the first financing of this kind for the company.

Olam secures local currency loan through AfDB
Olam secures local currency loan through AfDB
Jonathan Bell
26 June 2013

Agri-commodity producer, processor and trader Olam International has secured a senior loan of $80 million from the African Development Bank (AfDB). The loan., which will be made in local currencies, is for Olam Africa Investment Programme (OAIP) to deepen the integration of Olam group’s agricultural value chain by investments in processing of wheat and palm oil in Africa. The programme includes five sub-projects in Cameroon, Ghana, Mozambique and Senegal.

FMO arranges loan for Azerbaijan’s AccessBank
FMO arranges loan for Azerbaijan’s AccessBank
Jonathan Bell
21 June 2013

Azerbaijan’s AccessBank has secured a $60 million syndicated loan facility lead arranged by the Development Bank of the Netherlands (FMO). Other lenders under the FMO syndicated loan facility are, the Austrian Development Bank (OeEB), and Proparco of France who joined

Trafigura signs pre-payment contract with Rosneft
Trafigura signs pre-payment contract with Rosneft
Jonathan Bell
21 June 2013

At the St Petersburg International Economic Forum in mid-June, commodity trading company Trafigura signed a five year contract with a pre-payment to supply crude oil and petroleum products with Russian oil company Rosneft.

Glencore signs mega revolving credit facilities
Glencore signs mega revolving credit facilities
Jonathan Bell
14 June 2013

Glencore Xstrata has signed revolving credit facilities (RCF) amounting to a total of $17.34 billion. The facilities are for general corporate purposes and replace the previous revolving credit facilities of both Glencore and Xstrata. This is the first approach to the bank market for the new combined Glencore Xstrata.

Norilsk Nickel gets strong response for syndicated loan
Norilsk Nickel gets strong response for syndicated loan
Jonathan Bell
13 June 2013

Russia’s Norilsk Nickel, and the world’s largest global nickel and palladium producer, has successfully signed a five-year unsecured syndicated loan with a principal amount of $2.1 billion.

Vitol Asia signs revolving credit
Vitol Asia signs revolving credit
Jonathan Bell
11 June 2013

Energy trading company Vitol Asia signed its Asia-Pacific-focused one-year revolving credit facility (RCF) in early June.

Puma Energy revolver oversubscribed
Puma Energy revolver oversubscribed
Jonathan Bell
6 June 2013

Puma Energy, the global mid and downstream energy company, has renewed its committed, revolving credit facility (RCF) with a significant oversubscription from the market.

IFC and CreditBank team for Lebanese trade finance
IFC and CreditBank team for Lebanese trade finance
Jonathan Bell
6 June 2013

The IFC has signed a trade finance agreement with CreditBank, a fast-growing bank in Lebanon, to help its client companies access global markets, boosting trade and spurring growth.