Search results

Results found: 1352
MIGA provides guarantees for Jordanian solar power projects
MIGA provides guarantees for Jordanian solar power projects
Jonathan Bell
25 June 2015

The Multilateral Investment Guarantee Agency (MIGA) has announced that it will provide financial backing for the development, construction, and operation of four solar power projects in Jordan. The plants will add 50 megawatts (MW) of clean, renewable energy generation capacity to the country’s grid.

KfW IPEX arranges financing for new gas carriers for Petredec
KfW IPEX arranges financing for new gas carriers for Petredec
Jonathan Bell
25 June 2015

KfW IPEX-Bank has arranged and closed a $186.3 million financing package for the international liquefied petroleum gas trading and transport company Petredec. The financing package will be used for the construction of four new handysize gas carriers being constructed in Asia, with significant components coming from Germany.

Final Cole Commission report on UK export revolution plan is released
Final Cole Commission report on UK export revolution plan is released
Jonathan Bell
24 June 2015

The final Cole Commission report in relation to changing UK export culture was released today. The independently commissioned report is an action plan for the UK government to help turn the dial and ramp-up exports and export support

XL Catlin appoints chief underwriter for political risk and trade credit
XL Catlin appoints chief underwriter for political risk and trade credit
Jonathan Bell
24 June 2015

XL Catlin has promoted Joe Blenkinsopp to the position of chief underwriting officer for its political risk and trade credit (PRTC) team. He is based in London.

South Africa’s Transnet gets $228 million financing from KfW
South Africa’s Transnet gets $228 million financing from KfW
Jonathan Bell
23 June 2015

South Africa's state-run logistics and transport company Transnet has secured ZAR2.8 billion ($228 million) financing from Germany’s KfW Development Bank. The funds will be used as part payment on Transnet’s procurement of 240 electric locomotives from Bombardier Transportation.

US Ex-Im provides guarantees for export of US-made bridges to Zambia
US Ex-Im provides guarantees for export of US-made bridges to Zambia
Jonathan Bell
23 June 2015

The Export-Import Bank of the United States (US Ex-Im) has announced that it is providing $73 million in guarantees for the loan related to the sale of Acrow Corporation of America’s modular steel bridge components to the Road Development Agency in Zambia.

Trafigura and Singapore LNG sign strategic deal to utilise excess storage capacity
Trafigura and Singapore LNG sign strategic deal to utilise excess storage capacity
Jonathan Bell
23 June 2015

Commodity trading company Trafigura and Singapore LNG Corporation (SLNG), operator of the country’s first liquefied natural gas (LNG) terminal, have signed a storage agreement to utilise excess capacity within the Singapore LNG terminal on Jurong Island.

Mercuria Energy closes multi-currency RCF oversubscribed
Mercuria Energy closes multi-currency RCF oversubscribed
Jonathan Bell
22 June 2015

Independent energy and commodities trading group Mercuria Energy Trading has signed a $2.5 billion multi-currency revolving credit facility (RCF). Following strong demand from banks, the facilities were significantly oversubscribed by 35%, and subsequently increased in aggregate, with a scale-back in participations.

MSC Cruises secures €1.2 billion ECA-backed financing
MSC Cruises secures €1.2 billion ECA-backed financing
Jonathan Bell
22 June 2015

Leisure cruise line MSC Cruises (MSC) has secured €1.2 billion ($1.35 billion) export credit agency (ECA) backed financing for the construction and purchase of two newbuild ‘Seaside class’ cruise ships. The vessels will be the largest ever built by the Fincantieri shipyard in Trieste, Italy.

Noor Bank leads closing of Islamic financing for Stanford Marine
Noor Bank leads closing of Islamic financing for Stanford Marine
Jonathan Bell
22 June 2015

Dubai-headquartered offshore supply vessel company Stanford Marine Group (SMG) has secured a AED 1.2 billion ($326.7 million) Islamic syndicated structured finance facility arranged by Noor Bank. The transaction is one of the first fully Islamic-backed finance deals in the oilfield services sector.

US energy company Venoco completes refinancing
US energy company Venoco completes refinancing
Jonathan Bell
22 June 2015

Independent US-based energy company Venoco has entered into a new $75 million term loan facility with Deutsche Bank. The company will use the proceeds from the new facility to repay all amounts outstanding under its earlier term loan facility entered into in April 2015.

Navios Midstream closes loan for VLCC acquisition
Navios Midstream closes loan for VLCC acquisition
Jonathan Bell
22 June 2015

New York-listed crude carrier owner and operator Navios Maritime Midstream Partners has closed a $205 million term loan facility with a club of international banks. The funds will be use for financing payments for two recent very large crude carrier (VLCC) acquisitions.

Ukraine’s Kernel secures EBRD funds in syndicated bank facility
Ukraine’s Kernel secures EBRD funds in syndicated bank facility
Jonathan Bell
22 June 2015

Ukraine’s leading vertically integrated agribusiness company Kernel has signed a $65 million syndicated working capital credit facility with a group of European commercial banks. The European Bank for Reconstruction and Development (EBRD) has also come into the transaction with a $20 million take.

ENOC signs $1.5 billion syndicated loan
ENOC signs $1.5 billion syndicated loan
Jonathan Bell
22 June 2015

Dubai-based refining and trading company Emirates National Oil Company (ENOC) has secured a $1.5 billion syndicated loan through some 21 banks which took part in the syndication. The funds will support the group’s expansion plans including acquisitions, and provide the energy firm with longer term funding.

King & Spalding hires energy team for new Tokyo office
King & Spalding hires energy team for new Tokyo office
Jonathan Bell
22 June 2015

International law firm King & Spalding are set to open an office in Tokyo, the firm's eighteenth office overall and tenth office outside the United States. The new Tokyo office, along with the firm's Singapore office, will anchor King & Spalding's energy practice throughout the Asia-Pacific region.

GIEK and Export Credit Norway fund fish farm export
GIEK and Export Credit Norway fund fish farm export
Jonathan Bell
22 June 2015

Norway’s export credit agency, GIEK, together with funding body Export Credit Norway have arranged financing of €6.7 million ($7.5 million) for the export of a fish farm to Åland, an autonomous territory under Finnish sovereignty.

Banks' risk appetite is adapting to new climate
Banks' risk appetite is adapting to new climate
Guest Contributor
21 June 2015

This week, JB’s email to TXF subscribers had a sting in its tail: a reproach to financial institutions for their seeming reluctance to do business in Russia. At the same time, figures quoted suggested that 38% of those questioned in a recent survey of the export finance community aimed to carry out some business in Russia this year. So what is there to explain this apparent contradiction?

Cocobod formally announces close of senior phase of annual PXF syndication
Cocobod formally announces close of senior phase of annual PXF syndication
Jonathan Bell
19 June 2015

Today, the Ghana Cocoa Board (Cocobod) formally announced the close of the senior phase of its annual pre-export financing for the 2015-2016 cocoa crop. The financing was launched seeking $1.8 billion under a pre-export finance (PXF) structure, and the facility is fully underwritten by the arranging group – with a hefty oversubscription – at this stage.

Natixis and pbb co-arrange Airbus purchase for Turkish Airlines
Natixis and pbb co-arrange Airbus purchase for Turkish Airlines
Jonathan Bell
19 June 2015

Natixis and pbb Deutsche Pfandbriefbank (pbb) have co-arranged the financing of three Airbus aircraft for Turkish Airlines. The transaction is unusually financed in Swiss francs, and amounts to CHF260 million ($282 million).

UniCredit signs new credit facility for Gazprom
UniCredit signs new credit facility for Gazprom
Jonathan Bell
19 June 2015

UniCredit Austria has signed a new credit agreement for Russian oil and gas company Gazprom – totaling €300 million ($335 million). The signing took place today at the St Petersburg International Economic Forum 2015.

Sberbank and SACE sign cooperation agreement
Sberbank and SACE sign cooperation agreement
Jonathan Bell
19 June 2015

Sberbank of Russia and Italian export credit agency SACE have signed a memorandum on developing future cooperation. The agreement took place during the St Petersburg International Economic Forum.

UKEF reports strong performance through 2014-2015
UKEF reports strong performance through 2014-2015
Jonathan Bell
18 June 2015

UK Export Finance (UKEF), the UK’s export credit agency, has released its 2014-2015 annual report which reveals a strong performance through the year by the agency with a distinct enhancement of capabilities.

Sibur makes progress with funding for its ZapSibNeftekhim petrochemical project
Sibur makes progress with funding for its ZapSibNeftekhim petrochemical project
Jonathan Bell
18 June 2015

Russian gas processing and petrochemicals company Sibur has made significant progress with the financing for its ZapSibNeftekhim petrochemical project, through an agreement with a consortium comprising the Russian Direct Investment Fund (RDIF) and leading international investors to invest in the development of the integrated facility in Tobolsk, Tyumen region.

MIGA support for SunEdison’s solar power projects in Honduras
MIGA support for SunEdison’s solar power projects in Honduras
Jonathan Bell
17 June 2015

The Multilateral Investment Guarantee Agency (MIGA) has agreed to support the development, construction, and operation of three solar photovoltaic power plants in Honduras that will add more than 80 megawatts (MW) of clean, renewable energy to the country’s grid.

Hawaiki Cable selects Natixis as advisor for cable project financing
Hawaiki Cable selects Natixis as advisor for cable project financing
Jonathan Bell
17 June 2015

Hawaiki Submarine Cable, the New Zealand owner and developer of Hawaiki submarine cable system, has appointed French bank Natixis as exclusive equity advisor for the project. The project represents one of the world’s first privately-owned subsea cables that is using project finance methods to finance construction.

Dalma Energy secures financing for oil rigs through Bank Sohar and QNB
Dalma Energy secures financing for oil rigs through Bank Sohar and QNB
Jonathan Bell
17 June 2015

Oman-based drilling rig operator Dalma Energy International has secured a $77.5 million financing arranged by Bank Sohar and Qatar National Bank (QNB).

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

June is a month that is always jam-packed with highly-publicised sporting accomplishments. With leagues and tournaments of every variety coming to a climatic end in the month, news feeds from Hong Kong to New York are always inundated with extravagant – if only occasionally merited – eulogies on the triumphs of a fleetingly-victorious team or sportsman.

MIGA provides investment guarantees for Angolan steel plant
MIGA provides investment guarantees for Angolan steel plant
Jonathan Bell
17 June 2015

The Multilateral Investment Guarantee Agency (MIGA) has agreed to support Aceria de Angola’s (ADA’s) construction and operation of a greenfield 250,000 tons per year steel rebar plant in Angola by providing investment guarantees.

MIGA provides investment guarantees for Angolan steel plant
MIGA provides investment guarantees for Angolan steel plant
Jonathan Bell
17 June 2015

The Multilateral Investment Guarantee Agency (MIGA) has agreed to support Aceria de Angola’s (ADA’s) construction and operation of a greenfield 250,000 tons per year steel rebar plant in Angola by providing investment guarantees.

Simmons & Simmons expands international trade finance practice
Simmons & Simmons expands international trade finance practice
Jonathan Bell
16 June 2015

International law firm Simmons & Simmons is expanding its trade finance practice with the appointment of Omar Al-Ali who has joined the firm’s London office this week as a partner.

Afreximbank appoints Benedict Oramah as new president
Afreximbank appoints Benedict Oramah as new president
Jonathan Bell
15 June 2015

The African Export-Import Bank (Afrexim) has appointed Dr Benedict Oramah to be the next president of the continental multilateral trade finance institution. He will take up the role in September 2015.

Goldcorp increases credit facility to $3 billion
Goldcorp increases credit facility to $3 billion
Jonathan Bell
15 June 2015

North and Latin-American gold producer Goldcorp has increased its existing credit facility from $2 billion to $3 billion, as well as extending the term to June 2020, under existing terms and conditions.

KfW IPEX arranges export credit financing for Iceland silicon project
KfW IPEX arranges export credit financing for Iceland silicon project
Jonathan Bell
12 June 2015

KfW IPEX-Bank has arranged a $194 million export credit financing transaction for the German firm PCC SE to build a state-of-the-art silicon metal production plant in Husavik in the north of Iceland. Once completed it will be one of the most advanced silicon smelting plants in the world.

HSBC recruits Inwha Huh as head GTRF for the US and Canada
HSBC recruits Inwha Huh as head GTRF for the US and Canada
Jonathan Bell
12 June 2015

HSBC has hired trade veteran Inwha Huh as head of global trade and receivables finance (GTRF) for the United States (US) and Canada. She will be responsible for leading and managing GTRF activities across the US and Canada for commercial and global banking clients.

SACE provides guarantees for loans to EuroChem’s new Russian ammonia plant
SACE provides guarantees for loans to EuroChem’s new Russian ammonia plant
Jonathan Bell
12 June 2015

Italian export credit agency SACE has agreed to guarantee a total of €575 million ($648 million) loans to be issued to Russia’s agrichemical company EuroChem to build a plant in Russia for the production of ammonia. The plant will be built by Maire Tecnimont of Italy.

ING and KfW IPEX arrange Airbus financing for Asiana Airlines
ING and KfW IPEX arrange Airbus financing for Asiana Airlines
Jonathan Bell
11 June 2015

The New York-based team of ING Capital together with KfW IPEX-Bank have arranged an export finance structure for South Korean Asiana Airlines’ (Asiana) acquisition of one Airbus A380-800 aircraft.

Afrexim to introduce guarantee facility for African processing plants
Afrexim to introduce guarantee facility for African processing plants
Jonathan Bell
11 June 2015

The African Export-Import Bank (Afrexim) is to introduce a special guarantee facility to enable African processing plants secure long-term export contracts with bank financing.

CFO survey reveals Asia-Pacific business confidence is up
CFO survey reveals Asia-Pacific business confidence is up
Jonathan Bell
11 June 2015

The 2015 CFO Outlook Asia survey released by Bank of America Merrill Lynch reveals that more chief financial officers (CFOs) in Asia-Pacific are confident in their regional businesses, as measured by growth prospects, their ability to manage and mitigate risk, and their appetite to expand and invest.

Boost for DRC trade with ATI credit risk agreement
Boost for DRC trade with ATI credit risk agreement
Jonathan Bell
10 June 2015

The central bank of the Democratic Republic of Congo (DRC) has reached an agreement with the African Trade Insurance Agency (ATI) whereby banks will receive up to 50% capital relief on any transaction that is secured with a credit risk guarantee supplied by ATI. This landmark decision means the DRC becomes the first African country to give banks capital relief.

Markham Rae appoints Kah Chye Tan and Sir David Cooksey to advisory board
Markham Rae appoints Kah Chye Tan and Sir David Cooksey to advisory board
Jonathan Bell
8 June 2015

UK-based Markham Rae Trade Capital Partners (MRTCP) has appointed Kah Chye Tan and Sir David Cooksey to the advisory board of MRTCP, thus further expanding the knowledge and expertise of its dedicated trade finance team.

Natixis arranges France's largest power project refinancing for Exeltium
Natixis arranges France's largest power project refinancing for Exeltium
Jonathan Bell
8 June 2015

Natixis has led a group of international banks in arranging a €1.4 billion project refinancing for Exeltium, the French industrial consortium providing power to a range of French electro-intensive industrial clients and sectors.

US oil company Apache signs new $3.5 billion credit facility
US oil company Apache signs new $3.5 billion credit facility
Jonathan Bell
8 June 2015

Houston-headquartered oil and gas exploration and production company Apache Corporation has signed a new credit agreement with a group of international bank lenders amounting to $3.5 billion.

Russia’s Metalloinvest signs dual ECA deal with international banks
Russia’s Metalloinvest signs dual ECA deal with international banks
Jonathan Bell
4 June 2015

Russian iron and steel producer Metalloinvest has signed a €267 million ($297 million) export credit agency (ECA) backed agreement with a club of international banks. This is one of the few such deals signed with a Russian producer so far this year, but demonstrates the capacity of both ECAs and banks to transact deals in the difficult circumstances.

Transnet secures $2.4 billion from China Development Bank
Transnet secures $2.4 billion from China Development Bank
Jonathan Bell
4 June 2015

South Africa's state-run logistics and transport company Transnet has secured a ZAR30 billion ($2.4 billion) loan agreement with the China Development Bank (CDB). The funds will be used to purchase of 232 diesel and 359 electric locomotives from China North Rail (CNR) and China South Rail (SCR) respectively.

Canada’s EDC and Colombian Development Bank sign infra agreement
Canada’s EDC and Colombian Development Bank sign infra agreement
Jonathan Bell
4 June 2015

Export Development Canada (EDC) today announced the signing of an agreement with Colombia’s National Development Bank (Financiera de Desarrollo Nacional -FDN) that will formalise the partnership between the two organisations.

Uralkali increases PXF with inclusion of BoC
Uralkali increases PXF with inclusion of BoC
Jonathan Bell
3 June 2015

Russian potash producer Uralkali has announced the upscaling of its new pre-export financing (PXF) with the facility now amounting to $630 million. The increase of the initial amount has now taken place with the inclusion of Bank of China (BoC), which has come into the deal with a take of $100 million.

EBRD finances first large-scale solar project in Kazakhstan
EBRD finances first large-scale solar project in Kazakhstan
Jonathan Bell
3 June 2015

The European Bank for Reconstruction and Development (EBRD) is set to finance a landmark renewable energy project in Kazakhstan, along with co-financing from the Clean Technology Fund (CTF), with loans of well over €80 million ($88.7 million).

ANZ opens Paris branch to support French companies in Asia-Pacific
ANZ opens Paris branch to support French companies in Asia-Pacific
Jonathan Bell
3 June 2015

ANZ is expanding its international network with the opening today of a branch in Paris to provide wholesale banking services to French multinational companies doing business in Asia-Pacific. The opening took place while TXF’s ECA Paris Conference was in full swing, and where ANZ was a major sponsor of the event.

Berne Union members’ new business reaches close to $2 trillion in 2014
Berne Union members’ new business reaches close to $2 trillion in 2014
Jonathan Bell
2 June 2015

The Berne Union and the associated Prague Club have revealed that in 2014 members’ new business reached close to $2 trillion. The figures demonstrate the strong role the members of the group have in promoting and boosting cross-border trade and investments.

Factors Chain International reports strong growth in European and Americas factoring
Factors Chain International reports strong growth in European and Americas factoring
Jonathan Bell
2 June 2015

Factors Chain International (FCI), a leading network of global factoring companies, is reporting strong growth in cross-border factoring in selective markets. The group notes that global factoring volume reached an all time high of €2,348 billion ($2,610 billion) in 2014, up 6.3% from 2013. Cross-border factoring makes up 21% of this total, equivalent to €490 billion ($545 billion).