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Noble Group closes $1.1 borrowing base facility for North American operations
Noble Group closes $1.1 borrowing base facility for North American operations
Jonathan Bell
19 October 2015

Hong Kong-headquartered commodity trading company Noble Group has successfully closed the syndication of its $1.1 billion revolving borrowing base facility, which will be used for its North American operations. The facility attracted considerable interest in the bank market and was heavily oversubscribed.

Ecom Agroindustrial secures $635 million revolving credit facility
Ecom Agroindustrial secures $635 million revolving credit facility
Jonathan Bell
16 October 2015

Swiss-based commodity trading company Ecom Agroindustrial Corporation has secured a new $635 million multi-currency revolving credit facility (RCF). As with other transactions in the agri-commodity sector, this facility attracted significant bank interest in syndication and was significantly oversubscribed.

Voting opens for TXF awards
14 October 2015

Noble lightens aluminium stockpiles
14 October 2015

TAG’s top 5 dealmakers
TAG’s top 5 dealmakers
Oliver Gordon
13 October 2015

TXF recently caught up with the five most prolific dealmakers on tagmydeals to find out a little bit about them, their favourite deals from the first half of 2015, and their outlooks for the next six months. These top taggers cover a broad spectrum of trade financing industries – including export finance, structured commodity finance and project finance – and provide crucial, on-the-ground insight into what the market looks like from the perspective of those actively putting the deals together.

Glencore selling copper mines in Australia and Chile
13 October 2015

ECAs and African banks
ECAs and African banks
Rebecka Lundgren
12 October 2015

The commodity driven growth in Africa has generated a demand for stronger banks with more capacity. As commodity prices are falling and currencies weakening, African companies are becoming increasingly interested in local financing solutions.

Commodity volatility and political risk
Commodity volatility and political risk
Katherine Zylinski
12 October 2015

Prices for crude oil and other commodities have been on the decline since last year, as increased production by key producers and weak global demand has left the market oversupplied. In particular, the drop in oil prices to $50 dollars per barrel has had a wide-sweeping effect on the global economy and in particular

Olam Ghana expands operations of ADM
8 October 2015

Olam Sees Shrinking Coffee Supplies Before Brazil’s Next Harvest - SWI swissinfo.ch
7 October 2015

Vitol signs biggest revolver yet at $8 billion
Vitol signs biggest revolver yet at $8 billion
Jonathan Bell
7 October 2015

Commodity trading house Vitol has signed syndicated revolving credit facilities (RCF) totalling $8 billion. The loans, being provided by a total of 57 banks, are the biggest ever secured by the company in a single arrangement.

Trans-Pacific Partnership agreement finally reached
Trans-Pacific Partnership agreement finally reached
Jonathan Bell
5 October 2015

After five years of negotiations, agreement has been reached today in Atlanta on the far-reaching Trans-Pacific Partnership (TPP) trade deal. The TPP – an agreement between the United States, Japan and 10 other Pacific Rim nations - is the largest regional trade agreement in history.

Trafigura closes $2.2 billion loan facilities in Asia with strong bank support
Trafigura closes $2.2 billion loan facilities in Asia with strong bank support
Jonathan Bell
1 October 2015

Trafigura Pte, the Singapore arm of global commodity trading company Trafigura has successfully closed its new syndicated revolving credit facility (RCF) and term loan facilities at $2.2 billion-equivalent today. The success of the transaction comes a day after the death of Trafigura’s founder and executive chairman, Claude Dauphin.

BAFT publishes oil and gas best practices financing report
BAFT publishes oil and gas best practices financing report
Jonathan Bell
30 September 2015

The financial services association BAFT has published a new guide designed to help practitioners involved in oil and gas financing transactions. The Oil and Gas Industry: A Practical Guide to Independent Undertakings was developed by BAFT’s oil & commodity letter of credit (LC) working group.

Olam plans to double African coffee estates
29 September 2015

Russia sanctions and trade finance: time to update procedures
Russia sanctions and trade finance: time to update procedures
Matthew Oresman
29 September 2015

Sanctions on Russia and Crimea have introduced additional regulatory and commercial considerations for companies engaging in business transactions with certain parties in Russia and Ukraine. These sanctions continue to evolve regularly, and the US, EU, and other countries are working to ensure that existing provisions have sustained impact.

ING arranges NEXI-backed loan for Argentina’s CAGSA
ING arranges NEXI-backed loan for Argentina’s CAGSA
Jonathan Bell
28 September 2015

ING Bank Tokyo branch has arranged a $100 million working capital loan for Argentina’s Compañía Argentina de Granos (CAGSA), a major producer and distributor of grains including soybeans and corn. The loan is backed with credit insurance from Japan’s Nippon Export and Investment Insurance (NEXI), as part of Japan’s strategy of national food security.

Glencore hits record low amid crisis
23 September 2015

Ghana Cocoa Board formally signs annual pre-export financing for $1.8 billion
Ghana Cocoa Board formally signs annual pre-export financing for $1.8 billion
Jonathan Bell
17 September 2015

Ghana Cocoa Board (Cocobod) has today formally signed its annual pre-export receivables backed trade finance facility for a total amount of $1.8 billion. This was the initial amount underwritten and despite heavy oversubscription during general syndication Cocobod has decided not to take any increase.

Basel III: where do we stand?
Basel III: where do we stand?
Oliver Gordon
17 September 2015

Oliver Gordon catches up with some leading figures to discuss whether trade finance is still being unfairly penalised under the Basel III framework.

BHP Billiton chief Andrew Mackenzie attacks barriers to trade
17 September 2015

ING appoints James and Puijpe as co-heads of Structured Finance Americas
17 September 2015

Commodity finance failing to deliver
Commodity finance failing to deliver
Oliver Gordon
10 September 2015

A funding crisis is developing in the commodities market as producers and traders, particularly of the small and mid-sized variety, struggle to access the type and volume of finance they were able to ten years ago, according to a new trade-finance report from international law firm Clyde & Co.

EuroChem signs $750 million PXF club facility
EuroChem signs $750 million PXF club facility
Jonathan Bell
9 September 2015

The Swiss-headquartered Russian agrichemical EuroChem Group AG has signed a $750 million pre-export finance facility with a club of leading international banks. The funds will be used to refinance part of its debt as well as for capital expenditure and other general corporate purposes.

Glencore halts trading ahead of plan to cut $30 billion debt
9 September 2015

 Bladex leads $102 million secured loan for Ecuador agri-company Favorita
Bladex leads $102 million secured loan for Ecuador agri-company Favorita
Jonathan Bell
9 September 2015

Banco Latinoamericano de Comercio Exterior (Bladex) has arranged and closed a $102 million, syndicated loan in favour of companies belonging to the Favorita Group; a leading Ecuadorian agribusiness conglomerate with diversified business activities including bananas, dairy, and fertilisers. The transaction marks the largest syndicated loan for Favorita and successfully broadens the company´s pool of bank relationships.

ITFC signs $3 billion commodity trade import framework with Jordan
ITFC signs $3 billion commodity trade import framework with Jordan
Jonathan Bell
8 September 2015

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) group, has signed a $3 billion umbrella financing framework agreement with the government of Jordan. The funds will be used to finance the import of strategic commodities – such as energy products and foodstuffs - into Jordan.

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).

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.

Singapore's Jurong Aromatics said in debt talks after oil plunge
19 August 2015

Glencore's half-year earnings fall, sees lower capex next year
19 August 2015

Can Ivan Glasenberg dig Glencore out of trouble this time?
18 August 2015

Can Ivan Glasenberg dig Glencore out of trouble this time?
18 August 2015

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.

Glencore braced to reveal huge drop in profits
17 August 2015

Olam quarterly profit triples as food unit earnings advance
17 August 2015

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.

Export finance market declines on project and aviation finance slump
Export finance market declines on project and aviation finance slump
Oliver Gordon
14 August 2015

Export finance volumes in the first half of 2015 have tumbled by 28% year-on-year, and by 35% compared to the second half of last year, TXF’s H1 Export Finance Report revealed this week. The reduction in large project and aviation finance deals has been cited as a key reason for the market drop-off.

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.

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.

Glencore's trading profit at risk from rout in commodities
11 August 2015

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.

Gunvor buys back bonds after Russia deals yield $1.7bn

Glencore shares slump to record low

Wilmar releases Q2 2015 financial report

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.

Bunge reports Q2 2015 results