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NLMK Europe closes new working capital facility
NLMK Europe closes new working capital facility
Jonathan Bell
30 April 2015

Steel producer NLMK Europe Plate division, a part of NLMK Belgium Holdings group, has signed and closed a new working capital facility with four international banks.

Lundin Petroleum successfully secures ERF financing
Lundin Petroleum successfully secures ERF financing
Jonathan Bell
30 April 2015

Lundin Petroleum AB (Lundin Petroleum) has announced that its subsidiary Lundin Norway AS (Lundin Norway) has successfully secured a NOK4.5 billion ($596.6 million) financing facility.

IFC and RBS arrange loan facility for China Gas
IFC and RBS arrange loan facility for China Gas
Jonathan Bell
30 April 2015

International Finance Corporation (IFC) and The Royal Bank of Scotland (RBS) have jointly put together a $300 million financing package for China Gas Holdings (China Gas).

Ithaca Energy secures extended and simplified bank debt facilities
Ithaca Energy secures extended and simplified bank debt facilities
Jonathan Bell
30 April 2015

Oil and gas operator Ithaca Energy has executed extended and simplified bank debt financing facilities totalling $650 million. The company says the new arrangement provides significant funding headroom ahead of the first hydrocarbons from the Greater Stella area in the second quarter of 2016.

SWIFT reports Canada taking off as an RMB clearing centre
SWIFT reports Canada taking off as an RMB clearing centre
Jonathan Bell
30 April 2015

SWIFT’s RMB Tracker reveals that the renminbi (RMB) is the second most active currency used by Canada for payments with China and Hong Kong.

Nidera finally closes $900 million revolver
Nidera finally closes $900 million revolver
Jonathan Bell
29 April 2015

Agricultural trading company Nidera has finally closed a $900 million revolving credit facility (RCF). The facility has been in syndication for over three months, having been launched initially back in late January.

IFC provides Nigeria’s Zenith Bank with loan for key sectors
IFC provides Nigeria’s Zenith Bank with loan for key sectors
Jonathan Bell
29 April 2015

International Finance Corporation (IFC) has signed an agreement to provide a $100 million loan facility to Zenith Bank, to increase its lending to a variety of important economic sectors, boosting economic growth and job creation in Nigeria.

International Bank of Azerbaijan secures loan for trade
International Bank of Azerbaijan secures loan for trade
Jonathan Bell
29 April 2015

The state-owned International Bank of Azerbaijan (IBA) has secured a $200 million loan through a syndicate of international banks. The funds will be used to onlend to commercial clients for trade purposes.

IFC and PFS collaborate to boost financing for renewable energy projects in India
IFC and PFS collaborate to boost financing for renewable energy projects in India
Jonathan Bell
28 April 2015

International Finance Corporation (IFC) and PTC India Financial Services (PFS) have agreed partner to provide much-needed infrastructure financing for renewable energy projects in India.

Turkey’s ABank gets IFC loan for onlending to energy projects
Turkey’s ABank gets IFC loan for onlending to energy projects
Jonathan Bell
27 April 2015

International Finance Corporation (IFC) has signed to provide a $97 million financing package to Turkey’s ABank. The funds will be used to increase lending to energy efficiency and renewable energy projects in order to boost sustainable energy investment in Turkey and support micro, small, and medium enterprises.

Herbert Smith Freehills hires new partner for UK infrastructure practice
Herbert Smith Freehills hires new partner for UK infrastructure practice
Jonathan Bell
27 April 2015

International law firm Herbert Smith Freehills has hired Simon Caridia to join its projects and infrastructure practice in London as a partner with effect from 1 May 2015.

SACE raises level of support for exports to Cuba
SACE raises level of support for exports to Cuba
Jonathan Bell
27 April 2015

Italian export credit agency SACE is set to expand activity with Cuba and has raised the ceiling for the support of Italian exports and investments in the country.

EXIAR formally announces new board of directors
EXIAR formally announces new board of directors
Jonathan Bell
27 April 2015

The sole shareholder of the Export Insurance Agency of Russia (EXIAR) – state corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) – has today approved the new board of directors of the agency.

Aircraft lessor Avolon secures $675 million loan facility
Aircraft lessor Avolon secures $675 million loan facility
Jonathan Bell
24 April 2015

Avolon, the international aircraft leasing company, has closed a new $675 million loan facility. The deal is the largest debt transaction yet arranged by the company.

Hochberg hammers home how vital US Ex-Im is for US exports and jobs
Hochberg hammers home how vital US Ex-Im is for US exports and jobs
Jonathan Bell
23 April 2015

In a heartfelt and enlightening opening speech at the annual US Export-Import Bank meeting, chairman Fred Hochberg spelled out how vital the bank is to compete in an increasingly aggressive export global arena and for the creation of jobs.

Siemens wins US Ex-Im’s Renewable Exporter of the Year award
Siemens wins US Ex-Im’s Renewable Exporter of the Year award
Jonathan Bell
22 April 2015

The Export-Import Bank of the United States (US Ex-Im) has announced that Siemens Energy (US) has been named as the Renewable Exporter of the Year.

JB's weekly round up - 22 April 2015
JB's weekly round up - 22 April 2015
Jonathan Bell
22 April 2015

In what was the week’s largest financing, Brazilian state-run oil company Petrobras turned to Brazilian state-owned banks to secure much of its funding for 2015. With the capital markets closed off for the time being, the oil company announced that it had struck loan agreements totalling approximately $6.1 billion with three local banks and an international bank – in separate agreements – to meet its immediate funding requirements.

Uralkali signs PXF with significant upscale options
Uralkali signs PXF with significant upscale options
Jonathan Bell
21 April 2015

Russia’ Uralkali, one of the world’s largest potash producers, has signed a $530 million pre-export finance (PXF) loan agreement with eight international banks. The transaction is the first major loan for a Russian producer with international banks so far in 2015 and is a sign that lenders are keen to get back in the frame with prime Russian borrowers.

EBRD launches new energy leasing facility for Poland
EBRD launches new energy leasing facility for Poland
Jonathan Bell
21 April 2015

The European Bank for Reconstruction and Development (EBRD) has launched a new framework which will provide leasing finance for investments targeted at improving the consumption of energy in Poland.

Standard Chartered pilots initiatives in China’s newly launched FTZs
Standard Chartered pilots initiatives in China’s newly launched FTZs
Jonathan Bell
21 April 2015

Standard Chartered Bank (China) has announced a series of initiatives for the development of free trade zones (FTZs) immediately following the launch of three new FTZs in Guangdong, Fujian and Tianjin.

EKF reports solid growth through troubled 2014
EKF reports solid growth through troubled 2014
Jonathan Bell
20 April 2015

Danish export credit agency EKF has just released its annual report for 2014, and says that it in a difficult market it helped to secure contracts to Danish companies worth DKK27 billion ($3.96 billion) and more than 10,000 jobs in Denmark in 2014.

BExA to hold  ‘Winning Exports in a Turbulent World’ seminar on 19 May
BExA to hold ‘Winning Exports in a Turbulent World’ seminar on 19 May
Jonathan Bell
17 April 2015

The British Exporters Association (BExA) is holding a free, half-day seminar entitled ‘Winning exports in a turbulent world’ on 19 May in London. The wide-ranging seminar focuses on topical export issues and highlights exporters who have succeeded in today’s turbulent world.

Canadian trade finance boutique wins US Ex-Im Provider of the Year Award
Canadian trade finance boutique wins US Ex-Im Provider of the Year Award
Jonathan Bell
17 April 2015

Northstar Trade Finance, a Canadian boutique firm founded in 1994 with affiliates now in the United States and Europe, and a book of business that spans the globe, has leveraged its unique partnership model and its deal-making prowess to garner recognition as the Lender of the Year by the Export-Import Bank of the United States (US-Ex-Im).

Petrobras secures state bank loans for 2015 funding
Petrobras secures state bank loans for 2015 funding
Jonathan Bell
17 April 2015

Brazilian state-run oil company Petroleo Brasileiro (Petrobras) has turned to Brazilian state-owned banks to secure much of its funding for 2015. With the capital markets closed off for the time being, the oil company announced today that it had struck loan agreements totalling approximately $6.1 billion

US Ex-Im announces first recipients of FY2014 export awards
US Ex-Im announces first recipients of FY2014 export awards
Jonathan Bell
17 April 2015

The Export-Import Bank of the United States (US Ex-Im) has today announced the first recipients of five of its annual export awards in advance of its 2015 annual conference to be held 23-24 April at the Omni Shoreham Hotel in Washington, DC.

First ever CargoDocs BPO+ transaction completed successfully
First ever CargoDocs BPO+ transaction completed successfully
Jonathan Bell
17 April 2015

In a major milestone for global trade finance and cross-border payments, BHP Billiton, Westpac, Cargill and ANZ have achieved the first ever CargoDocs BPO+ transaction.

HFW strengthens corporate capability in Paris with partner hire
HFW strengthens corporate capability in Paris with partner hire
Jonathan Bell
17 April 2015

International law firm HFW has further strengthened its Paris office corporate finance team with the arrival of partner Jean-Marc Zampa and his associate Serge Rastorgoueff.

KfW IPEX, Helaba and KDB team to finance Airbus A320s for CDB Leasing
KfW IPEX, Helaba and KDB team to finance Airbus A320s for CDB Leasing
Jonathan Bell
16 April 2015

Shenzhen-based CDB Leasing has secured financing from KfW IPEX-Bank, Landesbank Hessen-Thüringen (Helaba) and The Korea Development Bank for the refinancing of four Airbus A320 aircraft.

AfDB commits funds to Egypt’s Sharm El-Sheikh airport expansion project
AfDB commits funds to Egypt’s Sharm El-Sheikh airport expansion project
Jonathan Bell
15 April 2015

The African Development Bank Group (AfDB) has approved a $140 million loan to Egypt’s Sharm El-Sheikh Development Project. The project includes construction of a new terminal, runway and control tower within the confines of the airport.

Euler Hermes launches South Africa operations
Euler Hermes launches South Africa operations
Jonathan Bell
15 April 2015

Global trade credit insurance company, Euler Hermes has announced that it is launching services for the South African market, strengthening its presence on the African continent as well as growth markets overall.

GE’s Guto Davies appointed deputy chair of BExA
GE’s Guto Davies appointed deputy chair of BExA
Jonathan Bell
14 April 2015

The council of the British Exporters Association (BExA) has appointed Guto Davies to the position of deputy chairman of the association with immediate effect. He is also leading GE’s Global Export Credit Agency Centre of Excellence.

BTMU appoints new EMEA regional head of transaction banking
BTMU appoints new EMEA regional head of transaction banking
Jonathan Bell
14 April 2015

The Bank of Tokyo-Mitsubishi UFJ (BTMU) has appointed Michael Hogan as managing director and regional head of transaction banking sales, EMEA. This is a newly created role where Hogan will lead the coverage of the transaction banking business, specifically in sales across the region.

HFW boosts London commodities practice with partner hire
HFW boosts London commodities practice with partner hire
Jonathan Bell
14 April 2015

International law firm Holman Fenwick Willan (HFW) has boosted its commodities practice with the recruitment of Marc Weisberger, who has joins the firm world as a partner. He is based in London.

JB's weekly round up - 14 April 2015
JB's weekly round up - 14 April 2015
Jonathan Bell
14 April 2015

In one of the most hotly-anticipated deals of any given year, last week Hong Kong-headquartered commodity trading company Noble Group launched the syndication and arrangement of a $2.25 billion committed unsecured revolving credit facility (RCF). The company will apply all amounts borrowed under the facility for the refinancing of certain existing debts and for general corporate purposes.

BPL Global appoints new CEO of Singapore subsidiary
BPL Global appoints new CEO of Singapore subsidiary
Jonathan Bell
14 April 2015

Berry Palmer & Lyle (BPL Global), the specialist credit and political risk insurance (CPRI) broker, today announced that, following approval by the Monetary Authority of Singapore, Peter Gilbert is to become chief executive officer of the company’s Singapore subsidiary.

Ethiopia’s Afriflora Group secures IFC loan
Ethiopia’s Afriflora Group secures IFC loan
Jonathan Bell
13 April 2015

International Finance Corporation (IFC) has announced it will provide a loan to Afriflora Group, a leading large-scale rose grower and distributor based in Ethiopia that employs more than 9,000 workers, more than 80% of them women.

Gunvor Singapore launches two-tranche RCF
Gunvor Singapore launches two-tranche RCF
Jonathan Bell
13 April 2015

Gunvor Singapore, a wholly-owned subsidiary of Swiss-based commodity trading company Gunvor Group, has launched a $550 million syndicated revolving credit facility (RCF). The loan will support new activities and existing operations in the Asia-Pacific region.

Euler Hermes names new CEO in UK and directors for World Agency and APAC region
Euler Hermes names new CEO in UK and directors for World Agency and APAC region
Jonathan Bell
13 April 2015

Trade credit insurance company Euler Hermes has appointed a new UK chief executive officer and two new senior members to its market management commercial and distribution (MMCD) executive team. All the appointments will take effect 1 July 2015.

US-made AgustaWestland helicopter sale to Panama gets US Ex-Im guarantees
US-made AgustaWestland helicopter sale to Panama gets US Ex-Im guarantees
Jonathan Bell
10 April 2015

The Export-Import Bank of the United States (US Ex-Im) has approved export credit guarantees supporting the sale of US-manufactured AgustaWestland AW139 helicopters to North Pole Investments in Panama for leasing and use in Colombia’s offshore oil and gas industry.

Noble Group launches $2.25 billion RCF
Noble Group launches $2.25 billion RCF
Jonathan Bell
9 April 2015

Hong Kong-headquartered commodity trading company Noble Group has launched the syndication and arrangement of a $2.25 billion committed unsecured revolving credit facility (RCF). The company will apply all amounts borrowed under the facility for the refinancing of certain of its existing debt and for its general corporate purposes.

HSBC appoints China head of cash management
HSBC appoints China head of cash management
Jonathan Bell
9 April 2015

HSBC has made a strategic appointment to its payments and cash management business in Asia.

EBRD and FCI join forces to launch factoring e-learning
EBRD and FCI join forces to launch factoring e-learning
Jonathan Bell
9 April 2015

The European Bank for Reconstruction and Development (EBRD) and Factors Chain International (FCI), a leading network of global factoring companies, have agreed to launch a joint e-learning offering on factoring.

Cole Commission turns the spotlight on need for revolution in UK export culture
Cole Commission turns the spotlight on need for revolution in UK export culture
Jonathan Bell
8 April 2015

In the UK, the Cole Commission has today released its interim report on how to upscale exports from the country. The independent report asserts that government support for UK exporters needs to go further in order to tackle Britain’s trade deficit, and that there needs to be a “revolution in export culture”.

JB's weekly round up - 8 April 2015
JB's weekly round up - 8 April 2015
Jonathan Bell
8 April 2015

This week, TXF, in partnership with tagmydeals, opened the voting for its 'Best in Class’ awards. There will be seven categories in Export & Agency Finance and six in Commodities Finance. To find the list of awards, along with the voting deadlines, click here.

ICBC promotes Zachariah to head of syndications
ICBC promotes Zachariah to head of syndications
Jonathan Bell
8 April 2015

Industrial and Commercial Bank of China (ICBC) London branch has promoted Benny Zachariah to head of syndication & sales. He is based in London.

Nedbank teams with IFC and GAFSP to finance rice imports to Liberia
Nedbank teams with IFC and GAFSP to finance rice imports to Liberia
Jonathan Bell
7 April 2015

Nedbank has teamed with the International Finance Corporation (IFC) and the private sector window of the Global Agriculture and Food Security Programme (GAFSP) to gain support for the financing of agricultural commodity imports and exports with certain sub-Saharan African countries.

Allen & Overy expands sub-Saharan project finance practice
Allen & Overy expands sub-Saharan project finance practice
Jonathan Bell
6 April 2015

Law firm Allen & Overy has expanded its sub-Saharan project finance practice with the hiring of Jason van der Poel within its Johannesburg office. He comes in as a partner in A&O’s international projects, energy and infrastructure group.

Petrobras secures $3.5 billion from China Development Bank
Petrobras secures $3.5 billion from China Development Bank
Jonathan Bell
2 April 2015

Brazil’s state-run oil company Petroleo Brasileiro (Petrobras) has signed a $3.5 billion credit facility with China Development Bank (CDB). The deal comes at a particularly low point for Petrobras, with the highly indebted oil producer turning to China for funds

Saudi Aramco has made the most of its latest RCF
Saudi Aramco has made the most of its latest RCF
Jonathan Bell
1 April 2015

Many years ago, I smashed my leg up badly and had to hop and hobble around on crutches for many months. It was a time before the internet and mobiles etc, so the company I worked for then delivered work to my home in London as it was easier than me negotiating the transport system.

JB's weekly round up - 1 April 2015
JB's weekly round up - 1 April 2015
Jonathan Bell
1 April 2015

Following on from the success of the 2014 debut of the Export Finance Global Survey, TXF and The International Chamber of Commerce (ICC) have teamed up once more to produce the latest edition of the study. The results will be incorporated into the ICC’s wider Global Survey on Trade Finance 2015. Your participation will contribute to the study and allow for a better understanding of the sector and its needs.