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Misys survey reveals trade lending under biggest threat from non-bank players
Misys survey reveals trade lending under biggest threat from non-bank players
Jonathan Bell
1 September 2015

Banks cite SME lending (68%) and supply chain finance (61%) facing the greatest pressure from non-bank players. However, many also see new opportunities in strategic partnerships. The results come from a recent survey carried out by Misys, the financial software company.

JB's Industry Blog: August 28
JB's Industry Blog: August 28
Jonathan Bell
28 August 2015

Ahoy there me hearties! As a lover of the open seas, ships and all things maritime in general, I’m stuck in a seafaring lingo groove following my excursion to the Netherlands for a day out on the water during SAIL Amsterdam.

ECOM Agro launches syndication of $450 million revolving credit facility
ECOM Agro launches syndication of $450 million revolving credit facility
Jonathan Bell
27 August 2015

Swiss-headquartered commodity trader ECOM Agroindustrial Corporation (ECOM) has mandated banks to act as arrangers and bookrunners for the launch of its $450 million syndicated revolving credit facility (RCF).

Siemens selects Deutsche Bank for further trade facilitation processing in China
Siemens selects Deutsche Bank for further trade facilitation processing in China
Jonathan Bell
27 August 2015

In an announcement today, Deutsche Bank has implemented a Receivables on Behalf Of (ROBO) solution for Siemens Financial Services (SFS) in China, for both intra-group and third party cross-border receivables. The development, one of the first of its kind for a multinational, will help SFS reduce costs and manual processes in trade.

Update: SACE commits $300 million insurance cover for SBM Brazilian FPSO
Update: SACE commits $300 million insurance cover for SBM Brazilian FPSO
Jonathan Bell
27 August 2015

The Italian export credit agency, SACE, confirmed today that it would be providing $300 million of insurance cover related to the floating production storage and offloading unit (FPSO) Cidade de Saquarema, ultimately destined for use in Brazilian oilfields. The FPSO is being built by Dutch firm SBM.

Jin Liqun named as first president of AIIB
Jin Liqun named as first president of AIIB
Jonathan Bell
26 August 2015

Jin Liqun has been selected as president–designate of the Asian Infrastructure Investment Bank (AIIB) at the 6th meeting of chief negotiators representing the bank's 57 prospective founding members in Tbilisi, Georgia.

NBAD appoints head of trade for MENA
NBAD appoints head of trade for MENA
Jonathan Bell
26 August 2015

National Bank of Abu Dhabi has appointed Sonam Kapadia as the head of trade for the Middle East and North Africa (MENA) region.

Bibby Financial Services expands into Malaysia
Bibby Financial Services expands into Malaysia
Jonathan Bell
26 August 2015

Independent SME funding specialist Bibby Financial Services (BFS) is expanding into Malaysia with the ramping up of its existing offices in Iskandar. Alan Wong has also been appointed as director of sales to handle the expansion.

StanChart completes first BPO transaction in the Middle East auto sector
StanChart completes first BPO transaction in the Middle East auto sector
Jonathan Bell
24 August 2015

Standard Chartered Bank (StanChart) has completed the first Bank Payment Obligation (BPO) transaction in the automotive industry for Mohammed Naser Al-Sayer and Sons (Al-Sayer), one of the largest automotive dealers in the Middle East. The transaction facilitates a shipment of vehicles to Kuwait.

EBRD arranges $130 million loan for Ukraine grain producer Nibulon
EBRD arranges $130 million loan for Ukraine grain producer Nibulon
Jonathan Bell
24 August 2015

The European Bank for Reconstruction and Development (EBRD) is arranging a $130 million syndicated loan facility in support of Ukraine’s leading grain and oilseeds trader and producer Nibulon. The bulk of the financing is coming from the commercial bank sector.

Advantage Tankers secures $61 million through CIT
Advantage Tankers secures $61 million through CIT
Jonathan Bell
21 August 2015

CIT Maritime Finance, part of the transportation finance specialist CIT Group, has arranged a $61 million senior secured credit facility to Advantage Tankers, a Marshall Islands-based holding company established to acquire an operating fleet of crude tankers

Trade Finance Market platform launches targeting exporters and investors
Trade Finance Market platform launches targeting exporters and investors
Jonathan Bell
21 August 2015

A new trade platform has launched - Trade Finance Market (TFM) – targeting both exporters and investors. Based out of Singapore, the founders say the platform “enables investors to earn higher returns through securely financing exporters in emerging markets”.

Turkey’s TEB secures $613 million for trade onlending
Turkey’s TEB secures $613 million for trade onlending
Jonathan Bell
20 August 2015

Türk Ekonomi Bankasi (TEB) has secured a total of $613.5 million in loans through an international syndicate comprised of 33 banks. The proceeds will be used by the borrower for export trade finance activities by onlending to clients.

Simon Jones joins TD Securities as EMEA head of export finance
Simon Jones joins TD Securities as EMEA head of export finance
Jonathan Bell
19 August 2015

Simon Jones has joined TD Securities as head of export & agency finance for the Europe, Middle East and Africa (EMEA) regions. He will be based in London.

Banco ABC Brasil secures $200 million loan
Banco ABC Brasil secures $200 million loan
Jonathan Bell
19 August 2015

Banco ABC Brasil acting thorough its Cayman Islands Branch, has successfully closed a $200 million syndicated term loan facility. The funds will be used for general corporate purposes including onlending to clients for trade-related loans.

Deutsche Bank provides $30 million structured loan to Huawei in Indonesia
Deutsche Bank provides $30 million structured loan to Huawei in Indonesia
Jonathan Bell
18 August 2015

Deutsche Bank has arranged and provided a $30 million structured trade finance facility to Huawei Tech Investment in Indonesia, a wholly-owned subsidiary of the Chinese multinational telecoms Huawei Technologies Company (Huawei). The funds will be used for the sale of equipment to a local broadband company.

Wells Fargo makes hire to lead European push of supply chain finance
Wells Fargo makes hire to lead European push of supply chain finance
Jonathan Bell
18 August 2015

Wells Fargo Capital Finance, part of Wells Fargo & Company has appointed Nick Lawrence as managing director for supply chain finance as it finalises the build out of its European platform to support all three international products, channel finance, supplier finance and sales finance.

Credit insurer Euler Hermes launches Euler Hermes Energy in North American market
Credit insurer Euler Hermes launches Euler Hermes Energy in North American market
Jonathan Bell
18 August 2015

International credit insurance company Euler Hermes has launched a new division - Euler Hermes Energy. The new division will be North American-based and focus on essential credit support and risk management solutions for the energy industry.

Syndication launched on $125 million loan for United Arab Bank
Syndication launched on $125 million loan for United Arab Bank
Jonathan Bell
18 August 2015

General syndication has been launched today for a $125 million term loan for United Arab Bank (UAB). The facility will be used by UAB for general corporate purposes, including onlending to clients for trade loans.

London Forfaiting joins UKEF bond support scheme
London Forfaiting joins UKEF bond support scheme
Jonathan Bell
18 August 2015

London Forfaiting Company (LFC) has joined the UK Export Finance (UKEF) bond support scheme. The scheme helps UK firms access government support for export-related bonds.

Deutsche Bank closes €300 million borrowing base facility for VDM Metals
Deutsche Bank closes €300 million borrowing base facility for VDM Metals
Jonathan Bell
17 August 2015

Deutsche Bank has closed a €300 million ($334 million) borrowing base facility for the German metal production company VDM Metals Group (VDM). Acting as the coordinating bank, Deutsche has arranged the syndicated facility to enable VDM to secure working capital following the sale of the group from ThyssenKrupp to private equity firm Lindsay Goldberg.

Bank of Georgia signs $30 million trade finance facility
Bank of Georgia signs $30 million trade finance facility
Jonathan Bell
17 August 2015

Bank of Georgia has closed a $30 million, one-year trade finance club facility with Citi. This is the second club facility arranged by Citi for Bank of Georgia. The club facility attracted a range of un-named international investors during the syndication.

HSBC facilitates RMB lending in China’s expanded FTZ pilot
HSBC facilitates RMB lending in China’s expanded FTZ pilot
Jonathan Bell
17 August 2015

HSBC has facilitated cross-border renminbi (RMB) loans for mainland China corporates operating from the Nansha Free Trade Zone (FTZ) and Kunshan, areas that are now participating in China’s cross-border RMB lending pilot.

ABN AMRO appoints country executive for UK
ABN AMRO appoints country executive for UK
Jonathan Bell
17 August 2015

ABN AMRO has appointed Robbert Booij as the new country executive for the United Kingdom and general manager of ABN AMRO Bank UK branch.

KAZ Minerals signs $50 million credit facility with Caterpillar
KAZ Minerals signs $50 million credit facility with Caterpillar
Jonathan Bell
14 August 2015

Kazakhstan-focused copper production company KAZ Minerals has signed a new $50 million revolving credit facility (RCF) with Caterpillar Financial Services (UK) (Cat Financial), a subsidiary of Caterpillar Incorporated.

JB's Industry Blog: August 14
JB's Industry Blog: August 14
Jonathan Bell
14 August 2015

If you love international trade, then you surely must love ships. I certainly do. And maybe that’s not surprising as I was born in Sunderland – a town that many years ago used to be well-known for shipbuilding.

New report shows Asian corporates increasing use of receivables financing
New report shows Asian corporates increasing use of receivables financing
Jonathan Bell
14 August 2015

According to a new research report from East & Partners Asia (E&P Asia), international and regional banks have a major opportunity to exploit the trade finance needs of top Asian corporates – particularly within receivables financing.

Akbank signs accordion option to increase term loan to $335 million
Akbank signs accordion option to increase term loan to $335 million
Jonathan Bell
13 August 2015

Turkey’s Akbank has signed the accordion option of its $275 million three-year term loan facility that it originally agreed to in early July. The addition of the accordion feature increases the term loan to $335 million.

PGNiG Upstream International secures $400 million financing
PGNiG Upstream International secures $400 million financing
Jonathan Bell
13 August 2015

PGNiG Upstream International (PUI), a subsidiary of Polish oil and gas group PGNiG, has signed a $400 million credit facility agreement with eight international banks. The main use of proceeds from the facility will be the early repayment of some of PUI’s outstanding debt, including the entire debt contracted to finance the acquisition of assets from Total E&P Norge in 2014.

CIT signs $32 million credit facility with Norstar Tankers
CIT signs $32 million credit facility with Norstar Tankers
Jonathan Bell
13 August 2015

CIT Group, a leading transportation finance company, has today announced that CIT Maritime Finance has arranged a $32 million senior secured credit facility to Norstar Tankers. The funds will be used by Norstar to acquire two long range (LR1) product tankers.

Turkey’s Tofas signs ECA financing with HSBC and ING
Turkey’s Tofas signs ECA financing with HSBC and ING
Jonathan Bell
12 August 2015

Turkish automaker Tofaş Türk Otomobil Fabrikasi (Tofas) has signed a €200 million ($222 million) export credit financing with HSBC, ING. Italian export credit agency SACE will provide guarantees.

HSBC appoints new head of trade in Australia
HSBC appoints new head of trade in Australia
Jonathan Bell
11 August 2015

HSBC has appointed Rohit Garg as the new head of global trade and receivables finance (GTRF) in Australia. He will be based in Sydney.

Strong takes up the reigns as head of CPS Risk at JLT in Chicago
Strong takes up the reigns as head of CPS Risk at JLT in Chicago
Jonathan Bell
11 August 2015

Matthew Strong has moved from the Jardine Lloyd Thompson Group (JLT) offices in London to take up his new position as head of the credit, political and security (CPS) risk practice at JLT Specialty USA in Chicago, the US subsidiary of JLT.

Gazprom Marketing and Trading secures $500 million RCF
Gazprom Marketing and Trading secures $500 million RCF
Jonathan Bell
10 August 2015

Gazprom’s UK-based subsidiary, Gazprom Marketing & Trading (GM&T) has signed a 364-day $500 million syndicated revolving credit facility (RCF).

Noble looks to reassure investors with independent PwC reports
Noble looks to reassure investors with independent PwC reports
Jonathan Bell
10 August 2015

Hong Kong-headquartered, commodity trading house Noble Group has today made public the conclusions and results of the PricewaterhouseCoopers (PwC) review of Noble's mark-to-market (MTM)* models, valuations and governance framework.

DFIs and commercial banks arrange financing for Azeri offshore gas field
DFIs and commercial banks arrange financing for Azeri offshore gas field
Jonathan Bell
7 August 2015

Development financing institutions (DFIs) and a syndicate of commercial banks have arranged financing of $1 billion to fund the development of an Azerbaijan offshore gas field feeding the Southern Gas Corridor from the Caspian to Europe.

ING closes US Ex-Im-guaranteed $589 million financing for Vietnam Airlines
ING closes US Ex-Im-guaranteed $589 million financing for Vietnam Airlines
Jonathan Bell
5 August 2015

ING Capital in New York has closed a US Export-Import Bank (US Ex-Im ) guaranteed financing totalling $589 million for Vietnam Airlines (VNA). The financing relates to VNA’s acquisition of four Boeing 787-9 aircraft.

ABN bolsters commodities division with senior hires
ABN bolsters commodities division with senior hires
Jonathan Bell
4 August 2015

ABN AMRO is continuing to strengthen its energy, commodities & transportation (ECT) division with two senior appointments. The bank has promoted Friso Koopmans as global head of energy commodities clients and appointed Rui Florencio as global head of metals commodities clients.

UniCredit completes BPO transaction between M&G Polimeri Italia and BP
UniCredit completes BPO transaction between M&G Polimeri Italia and BP
Jonathan Bell
4 August 2015

UniCredit has successfully completed a Bank Payment Obligation (BPO) deal for M&G Polimeri Italia, the Italian importer which is part of the third largest PET resin producer in the world, and its supplier oil and gas company BP. The transaction represents the first deferred BPO undertaken by UniCredit which was discounted without recourse to a fixed date.

SunEdison closes financing for Chile’s Quilapilun solar power plant
SunEdison closes financing for Chile’s Quilapilun solar power plant
Jonathan Bell
3 August 2015

Renewable energy development company SunEdison has secured $160 million financing and started construction on the 110-megawatt (MW) DC Quilapilun solar power plant in Santiago, Chile.

EBRD arranges $300 million syndicated loan for Kazakh Railways
EBRD arranges $300 million syndicated loan for Kazakh Railways
Jonathan Bell
3 August 2015

The European Bank for Reconstruction and Development (EBRD) working together with a group of international commercial banks has arranged a $ 300 million syndicated financing facility for Kazakhstan’s national rail company - Kazakhstan Temir Zholy (KTZ). The financing will help KTZ restructure financing and carry out a comprehensive modernisation programme.

Cocobod’s success stands as an example for other African nations
Cocobod’s success stands as an example for other African nations
Jonathan Bell
30 July 2015

Jonathan Bell reviews this year’s Ghana Cocobod financing, analyses the record of pricing, and looks at the prospect of further value-added for African soft commodities.

JB's Industry Blog: 24 July 2015
JB's Industry Blog: 24 July 2015
Jonathan Bell
28 July 2015

TXF held its Africa afternoon conference last week with more than 80 guests joining to discuss CAPEX, ECA and Project Finance in Africa. We approached the topics from a slightly different angle: whether ECA finance was fit for purpose and how project finance could be made to work better in the region – rather than looking purely at shortcomings in the continent.

Gunvor Singapore increases annual RCF through accordion structure
Gunvor Singapore increases annual RCF through accordion structure
Jonathan Bell
27 July 2015

Gunvor Singapore, the wholly-owned subsidiary of the international commodity trading company, Gunvor Group, has increased its $911.7 million syndicated revolving credit facility (RCF) to $1.0627 billion by bringing in new banks under the RCF’s accordion structure.

Gunvor signs increased secured borrowing base facility for Middle East operations
Gunvor signs increased secured borrowing base facility for Middle East operations
Jonathan Bell
22 July 2015

International commodity trading company Gunvor Group has signed a $525 million secured uncommitted borrowing base facility for its operations in the Middle East. The facility was well supported in the market, with an increase of $105 million over the previous year’s facility.

BPL Global to open Dubai office as part of further expansion
BPL Global to open Dubai office as part of further expansion
Jonathan Bell
20 July 2015

Berry Palmer & Lyle (BPL Global), the specialist credit and political risk insurance (CPRI) broker, is to open a representative office in Dubai as part of the group’s further expansion of overseas offices. The opening takes the number of BPL Global offices to five – joining London, Paris, Singapore and Hong Kong.

Landmark deal sees UK Export Finance and HSBC combine for first RMB-funded financing
Landmark deal sees UK Export Finance and HSBC combine for first RMB-funded financing
Jonathan Bell
17 July 2015

The UK export credit agency UK Export Finance (UKEF) and HSBC have teamed to arrange the first ever offshore renminbi (RMB) financing for an aircraft purchase – in this case the sale of a new Airbus A330-300 passenger aircraft to China Southern Airlines. The transaction represents a huge step forward in terms of export credit agencies (ECAs) expanding their range of new currencies to match the requirements of clients.

ANZ boosts transaction banking with senior hire
ANZ boosts transaction banking with senior hire
Jonathan Bell
17 July 2015

ANZ has boosted its global transaction banking (GTB) business with the appointment of Francyn Stuckey as global head of capabilities and client solutions in its transaction banking business. This is a new role within the bank and a senior position within GTB.

AAG Energy secures $250 million RBL facility
AAG Energy secures $250 million RBL facility
Jonathan Bell
16 July 2015

Asian American Gas Holdings (AAG Energy) a leading and independent coalbed methane (CBM) producer in China, has secured a $250 million reserve-based lending (RBL) facility. The loan will be utilised by its wholly-owned subsidiary Sino-American Energy Incorporated (SAEI), acting as borrower.

Metalloinvest pushes through new $750 million PXF
Metalloinvest pushes through new $750 million PXF
Jonathan Bell
16 July 2015

Russian iron and steel producer Metalloinvest has signed a new $750 million pre-export finance (PXF) facility with a club of international banks. TXF News understands the PXF was largely self-arranged by the company.