Afreximbank closed a $750 million five-year bond last week after achieving an order book of $3.4 billion from 290 investors - the biggest ever book and largest trade the bank has ever completed.
The total number of ECA deals taking place in the first quarter of 2016 has more than halved compared to Q1 of 2015, while deal volume is down 12%. TXF's Q1 data clearly reveals larger but fewer deals are taking place, but the question on everyone's mind is what's driving this dramatic drop in the number of deals in the market?
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), part of the Islamic Development Bank Group (IsDB), is ready to invest in projects in Indonesia after it signed an agency agreement yesterday with PT AsuransiAsei Indonesia at the IsDB's 41st annual meeting in Jakarta, Indonesia.
The Luxembourg-based stainless-steel producer closed a $400 million borrowing base revolving credit facility in March, a month after Moody's upgraded the company to Ba1. The 'backup' deal is indicative of a 'cash rich' company thriving in a struggling metals market.
Fitch yesterday joined Moody's and Standard & Poor's in cutting Noble to "junk" status, as the commodities trader battles for liquidity.
Petroleum Development Oman, who traditionally rely on state funding, has turned to commercial banks for finance in the wake of lower oil prices, as the oil company seeks a $3 billion pre-export finance facility.
Turkey's largest private bank, İşbank, has increased the size of its annual revolving credit facility last week - a $1.4 billion syndicated loan with a record 47 international banks.
Two out of three people lack access to electricity in sub-Saharan Africa, but a new initiative, Scaling Solar, rolled out this week by the World Bank group aims to bridge this gap by supporting investments to build low cost, large-scale solar plants throughout the region.
The deal is indicative of how shipyards and shipbuilders are increasingly reliant on their buyers obtaining ECA-support to fill their order capacity while also encouraging commercial banks to lend in the shipping space.
Wind energy is the fastest growing source of electricity in Canada and is set to play a major role in the action plans of Québec's 2030 energy policy. The government-backed policy came exactly a month before last week's announcement that one of Canada's largest wind power projects closed a $617.5 million refinancing– in a deal backed by German ECA Euler Hermes.
In a bid to create new channels of future growth and provide new roadmaps for Indian exporters, India's Exim Bank has increased the amount of lines of credits it has issued over the past six months - as part of a government push to establish new trade relationships with its neighbouring countries and other emerging markets.
In late April, only four months after the trade embargo on Iran was lifted, Italy's Sace took the lead in the ECA space, guaranteeing €4 billion in credit lines to support trade between the two nations.
Varo Energy's $460m borrowing base formed part of the oil suppliers merger with Argos Downstream Europe, in a deal which will turn Varo into the largest independent Western European downstream player.
Earlier this month, Noble launched a $1 billion debt refinancing. With the facility due to close next week, the struggling commodities titan is eagerly awaiting Fitch’s verdict on the deal.
Winning TXF's Best African Commodity Finance Deal of the Year 2015, Columbus Stainless's $291.2 million borrowing base was the South African company's maiden syndicated commodity trade finance transaction.
K-sure's support of a $750 million loan to Reliance Jio Infocomm is the Korean ECA’s largest deal both in India and in the telecoms sector, with the transaction also boasting the longest tenor ever achieved in a telecoms deal.
In a deal that could set a precedent for future cruise ship deals, RCC tapped a innovative financing structure for the construction of Oasis IV by STX France.
In the face of precarious politics and a troubled economy, Argentina's largest soy bean producer Vicentin closed a $135.3 million PXF in the country's largest agribusiness deal of 2015.
Seaborn Networks secured an innovative project financing to fund the establishment of high-speed telecommunications infrastructure between US and Brazil.
Last week, MSC Cruises signed a letter of intent with STX France for the construction of four LNG-powered ships with France's ECA, Coface, backing the $4.5 billion contract. The order is the latest example of ECAs supporting a booming cruise-ship market.
At the end of last month, JBIC signed a $63.75 million loan agreement with JSAT as part of $255 million facility with three Japanese banks for the financing of the Horizons 3e satellite − showing Japan's ECA appetite hasn't wavered since last year's bankruptcy of Australia's satellite company, NewSat.
At the end of last month, MIGA announced its backing of €698.9 million in loans from two international banks to develop Eskom's power transmission infrastructure in South Africa.
Earlier this month, Bangladesh sealed a $2 billion credit line from the Export-Import Bank of India for power development in a deal indicative of an exciting new trend for international ECA support in the country.
After two years of delays resulting from the war with Isis, French export credit agency (ECA) Coface last month provided its first ever guarantee in Iraqi Kurdistan to fund the purchase of turbines for the country’s Bazian power plant.
Despite the fall in crude oil prices having taken its toll on demand for offshore vessels over the past year, DOF Brasil recently signed a loan agreement with Norway’s export credit agencies (ECAs) to fund installations to a new pipelay support vessel (PLSV). The deal was labelled very much a "one-off" by one market source.
Canada's export credit agency, Export Development Canada (EDC), recently announced it will provide its global mentoring services to the 50 winners of Deloitte Canada's Best Managed Companies awards.
The Export-Import Bank of India (India Exim) last month signed a $150 million line of credit with Iran's Bank of Industry and Mine to finance rail upgrades in Iran. The deal, which will finance the supply of 150,000 tonnes of steel railway tracks from Indian exporter State Trading Corporation, is Iran's first post-sanctions export finance agreement.
In a sign that Russia’s Metalloinvest is finally feeling the chill of the current frosty steel market, the iron ore and metals company last week signed a new $400 million pre-export finance (PXF) agreement with a club of international banks – by far the producer’s smallest PXF in years.
ADB has earmarked $10 billion for Indonesia over the next five years in a bid to support the government's development priorities. TXF speaks with ADB's Steven Tabor to find out how the money will be spent.
Coface, the French export credit agency (ECA), was the single most active ECA in 2015 for medium and long-term debt supporting a total of $7.73 billion worth of transactions, according to TXF Data's 2015 Export Finance Report.
HSBC was the biggest lender of export credit agency (ECA) debt in 2015, according to TXF Data's Export Finance report, signing a total of $4.54 billion of ECA-supported debt to borrowers.
The global volume of export credit agency (ECA) deals has fallen by nearly a third compared to 2014, according to TXF Data's 2015 Export Finance Report.
Equant Analytics has calculated that global trade is $2.1 trillion higher than the World Trade Organisation's (WTO) official figures. TXF speaks with Equant's co-founders CEO Dr. Rebecca Harding and CIO Thanos Papasavvas to find out more.
Japan has become the world's largest liquefied natural gas (LNG) importer as it diversifies away from nuclear power. A recent deal between Japanese export credit agency (ECA) JBIC and Diamond LNG Shipping (DLS) highlights the country's increased financing and support of US LNG projects.
Vietnam's state-owned National Power Transmission Corporation (NPT) has signed a $200 million loan facility for a coal-fired power plant, backed by Japanese export credit agency (ECA) Nippon Export Investment Insurance (NEXI).
Reliance Industries’ latest €950 million ($1.04 billion) export credit agency (ECA)-backed deal is expected to push its capital expenditure spree in refinery and petrochemical expansion projects to approximately $17 billion.
After nearly 70 years as France's ECA Coface is set to transfer the handling of state export credit guarantees to French public investment bank, Bpifrance. The move will have a wider impact than merely a name change, and could even ensure cheaper pricing on French ECA deals. TXF caught up with HDA conseil's Henri D'Ambrieres to find out more.
Telefonica has tapped the export finance market for an innovative, catch-all facility to finance the mass procurement plans of its global subsidiaries. The Spanish telecoms titan recently closed a $545 million Finnvera-backed buyer’s credit facility to fund the purchase of Nokia equipment and services.
Canada's export credit agency Export Development Canada (EDC) has provided its first guarantee for a loan from international banks to a Turkish corporate last month.
Germany is one of the world's top five shipbuilders, and in recent years Angela Merkel’s government has been looking at a number of ways to push the nation up that table.
Inaugurating its recent financing agreement with US multinational industrial conglomerate General Electric (GE), Britain's export credit agency UK Export Finance (UKEF) has backed a buyer's credit facility for Brazil's state-owned oil company, Pertrobras, to fund the purchase of UK-manufactured oil and gas services equipment.
Five European banks have teamed together to fund a €174.4 million ECA-backed loan agreement with Ghana Ports and Harbours Authority (GPHA) to fund the second, and final, expansion of the Takoradi port.
Developing markets are likely to experience further economic backlashes this year from the floundering price of oil. Severe energy price shock was named as one of top five risks with the greatest potential impact in 2016 by the World Economic Forum's (WEC) annual Global Risks Report, which was released today ahead of the WEC’s renowned Davos conference later this month.
Japan has historically been a major manufacturer of geothermal turbines, boasting a 70% global market share. But an export credit agency (ECA)-backed deal closed last month has allowed Iceland access to this famous Japanese expertise for the first time in its history.
Available on demand: A premium online event focusing on recent and forthcoming developments across regional export & project finance with unbeatable networking opportunities across each market.
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TXF's stages for change initiative is a space to celebrate the diverse experts in our industry. We shine a light on the underrepresented communities that make the market stand out.
The ultimate guide to Export Finance in Germany. Senior attendees from banks and exporters gather every year to make new connections and plan ahead...could you be one of them?
Roll up, roll up for the latest updates on Spanish Export Finance. This annual gathering will take you to the heart of the market and introduce you to senior decision-makers who make deals happen.
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We're reuniting the French Export Finance industry to discuss trends in the market and make new valuable connections. Join us in Paris to get ahead of next year's deals.
Our first UK Export Finance event is coming to town this September. Delve into the local market and make high-level contacts that might just lead to your next deal...
A gathering of all the key players in MENA - a chance to shake hands, exchange business cards and plan ahead for another year of successful deal-making!
TXF Global Commodity Finance 2020 conference goes back to the future . Join deal makers from across the globe for an unmissable virtual event in May and physical event in Geneva later on in the year
Join the crowds of exporters, ECAs, banks and insurers gathering to share their expertise and predictions for Asian project and export finance.
The only dedicated forum for the APAC trade and commodity finance community. Join dealmakers from across Asia-Pacific as we tackle key industry issues and analyse the latest deals in the market.