TXF CPRI: Trade, Commodity & Export Finance Virtual 2021
TXF PRI: Trade, Commodity & Export Finance is taking place this February. Delve into the local market and make high-level contacts that might just lead to your next deal...
Beleaguered commodity trader Noble is out to syndication with a new borrowing base facility. The Hong Kong-based company has undertaken asset sales and a rights issue as it looks to regain its investment grade status.
When agri commodities trader Transmar - a top ten global supplier of cocoa beans - filed for Chapter 11 bankruptcy at the end of 2016 there were fears of an impact on lender appetite for the cocoa market. Despite initial concerns, lenders have not been rattled – at least not on pricing.
Privately-owned London-based commodity trader ED&F Man is set to launch its annual RCF on 10 February. According to a number of bankers the deal is expected to be fairly unchanged from last year, although the borrower’s annual results have yet to be made public.
SUEK is back with a new pre-export loan - only its second since 2014 - and bank interest is looking strong. Will SUEK's renewed popularity produce some movement on pricing and a new set of bank relationships?
Even with low oil prices, North Sea reserves are still changing hands. But sellers and buyers are having to get creative to get banks comfortable and make deals happen.
Pricing of Rusal's debut eurobond is comparable with the cost of PXF debt given rising Libor rates, the longer tenor and the security package - so says Oleg Mukhamedshin, Rusal deputy CEO
For a producer, access to financing can result in the firm’s life or death. Financing comes in different shapes and forms depending on the company’s risk profile. Here, Gianluca De Stefano, energy origination at Noble Americas, examines the development and use of prepayment financing within commodity finance.
Come on in, put the kettle on and enjoy TXF’s new podcast where our panel discuss the ‘biggest shift, biggest change’ in trade over the past year, and give their predictions for 2017 to help us feel our way through the mist of uncertainty.
The world’s largest traders including Glencore, Trafigura and Gunvor are set to launch their refinancings for revolving credit facilities in the coming weeks having secured competitive pricing on their 2016 iterations. Will 2017 remain a competitive year of debt pricing for commodity traders?
A number of state-owned Omani borrowers are already testing appetite for loans in 2017. But borrowers may have to stagger deal flow to avoid having to compete for lenders and causing an uptick in margins.
Despite the conflict in eastern Ukraine and the crash in iron and steel prices, Metinvest has managed to restructure its debt and even lowered pricing on some of its outstanding pre-export loans.
Commodities trader Trafigura has launched the refinancing of part of its flagship 2015 European RCF with a group of international banks. The pricing on offer is said to be around the same as the previous loan, despite a drop in Trafigura’s 2016 profits.
A key project for Ghana and a direct lending first for UKEF – Vitol’s OCTP is rumoured to be tightly priced and partially financed under a fixed rate CIRR.
Is the fund-backed debt package for Continental’s Buriticá gold mine project symptomatic of a growing alternative to traditional project lenders in the mid-level mining market?
Sofitex, one of Burkina Faso’s largest cotton exporters, is expected to finalise €90 million ($95.4 million) in financing from international banks for the 2016/2017 season. This is in addition to €122 million ($129 million) raised from domestic banks following a decision to move away from genetically modified crops.
Belgium-based oil tanker company Euronav has secured competitive pricing on its latest revolving credit. The deal was oversubscribed and pulled commitments from 10 banks.
Following the departure of its grains chief executive, Matt Jansen, Cofco Agri appears to have altered its plans to become a global agricultural trader. The shift could see a greater focus on the Chinese market as the state-owned company looks to rein in control.
The Tangguh LNG 3 financing was the major deal in the Asian oil and gas market last year. But more significantly, it marked the return of a global sponsor to expansion mode.