TXF Global Commodity Finance Virtual 2020
TXF Global Commodity Finance 2020 virtual event goes back to the future . Join deal makers from across the globe for an unmissable virtual event to explore all the current changes in the market.
First Quantum Minerals has closed the syndication of its $2.5 billion five-year term loan and revolving facility, which was increased to $3 billion through oversubscription. This is the finalisation of the debt package reported in TXF News 16 April 2014 and 28 January 2014.
Commodity trader Trafigura has published a whitepaper analysing the economics of commodity trading firms.
As part of the TXF Commodity Finance Series, TXF is happy to present its May 2014 Natural Resources and Commodities Finance Special Report.
It is now over a year since it became apparent that a major coffee rust outbreak was developing over a wide area of Latin America, ranging from Mexico in the north, to Peru in the south and east as far as the Dominican Republic. Recent workshops and conferences have been reviewing what happened and discussing what to do about it. Here, we try to summarise what is so far understood, concentrating on Central America and Colombia, from where we have the most data.
The LME aluminium price has certainly not been encouraging. In this negative climate, what Rusal has managed to achieve through production cuts, how the company is handling its debt ratio and what is planned to further reduce production costs – are some of the issues addressed here by Rusal’s CFO, Alexandra Bouriko.
Jonathan Bell talks with Andrew Voysey, director, finance sector platforms, University of Cambridge Institute for Sustainability Leadership (CISL), about the Banking Environment Initiative and the drive for sustainability in soft commodity financing and trading.
Jonathan Bell presents a case study where a Vietnamese commodity trader – VinaCommodities – secured a bespoke cross-border financing solution that allowed the company to address their onshore borrowing needs, working capital cycle and develop their base to expand further.
China has, and continues to be the leading light as the global end-user of raw commodities. It is the key player. Now in the agri sector China is revealing the country’s urgency in securing further control of the trading in agri-commodities. Jonathan Bell examines recent developments.
Jonathan Bell talks with Paul Cohen Dumani, general manager of MIT, about the company’s highly successful commodity finance collateral management software system for banks – TRAC.
The Sabine Pass Liquefaction LNG project marked a turning point in energy projects and their associated financing in North America. Jonathan Bell talks with Federico Turegano, head of natural resources and energy finance, Société Générale CIB, about these developments and what the implications are for future financings within the sector.
TXF is delighted to be the official media partner for this year’s Fin4Ag conference in Nairobi, Kenya. Running from July 14 to 18 at the Kenya School for Monetary Studies, Fin4Ag will bring together more than 500 financiers, farmers, regulators and other agri-finance experts from public and private organisations across Africa, the Caribbean, the Pacific and elsewhere
Japanese banks, supported by the Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (Nexi) have signed export credit financing agreements with India’s Reliance Industries Limited (RIL) amounting to $550 million. The financing marks some new developments in export credit arrangements between Japan and RIL.
The European Bank for Reconstruction and Development (EBRD) has agreed to provide a loan of up to $40 million to over 30 farms and grain elevators across Ukraine owned by NCH New Europe Property Fund (NEPF).
Solena Fuels is to construct a new facility that transforms landfill waste into jet fuel with the support of British Airways. The facility, which will be the first of its kind in the world, will be built in the Thames Enterprise Park in Essex, UK.
First Quantum Minerals (First Quantum) has signed and drawn down on its $2.5 billion, five-year term loan and revolving facility. The company has also completed a number of other financial optimisation/restructuring measures initially announced earlier this year.
Swiss-headquartered agricultural commodity trading group Ecom Agroindustrial Asia has closed its latest revolving credit facility (RCF), initially launched earlier this year.
Vancouver-headquartered, African miner Asanko Gold has agreed terms to amend its existing project debt facility with a special purpose vehicle of RK Mine Finance Trust I (Red Kite). The agreement allows the company to better implement its plans to develop Phase 1 of the Asanko Gold Mine (AGM) in Ghana, West Africa.
Glencore Xstrata, one of the world’s largest global diversified natural resource companies, has struck an agreement with a Chinese consortium to sell its entire interest in the Peruvian Las Bambas copper mine project for a total consideration of approximately $5.85 billion.
Swiss-headquartered commodity trader MRI Trading has mandated ABN AMRO Bank and ING Bank to arrange syndicated loan facilities totaling $110 million for the group.
How financial institutions can partner with consumer goods companies to help reduce deforestation
Hear commodity traders' views on finance and regulation, courtesy of Doug Ziurys of FImetrix
Russia’s Norilsk Nickel, the largest global nickel and palladium producer, has signed two bilateral credit agreements with Russian branches of Western banks totaling $750 million.
Italy’s Enel Group has signed two long-term liquefied natural gas (LNG) supply contracts with Cheniere Energy of the US, with gas sourced from shale gas fields, for a total of three billion cubic metres (billion cm) a year.
Turkish agricultural processor and trader Tiryaki Agro Gida Sanayi Ve Ticaret (Tiryaki Agro) has arranged a $250 million financing through a combination of commercial and development financial institutions.
China National Cereals, Oils and Foodstuffs Corporation (Cofco) has struck an agreement with Hong Kong-headquartered commodity trading company Noble Group to buy a 51% in its agricultural trading arm Noble Agri.
ABN AMRO has made two hires to strengthen its sector origination capabilities for its energy, commodities and transportation (ECT) clients. The move takes place as the bank looks to further build its dedicated advisory services for cross-border corporate activity in these sectors.
Agri-trading company Cargill and Brazilian sugar and ethanol producer have reached agreement to combine their sugar trading activities in a new joint venture company.
Trafigura has successfully closed its key European revolving credit facility (RCF) at $4.735 billion – an increase from the $4 billion the facility was launched at despite the significant reduction in pricing the global commodities trader managed to secure.
The European Bank for Reconstruction and Development (EBRD) has signed to provide Kazakhstan rail company JSC Olzha with a new loan of $9 million, for the purchase of rolling stock.
Finacity, the trade receivables securitisation specialist, has closed a new securitisation programme with agricultural processing company Archer Daniels Midland (ADM). The programme will provide ADM with cash proceeds of up to €280 million ($380 million) through the on-going purchase of receivables.
Stemcor has secured a $1.15 billion syndicated loan from five lenders in what could be a major boost for the British steel trader. The facility follows a high court ruling last month that allowed Stemcor to restructure its $1.3 billion debt – despite a court challenge from one of its creditors.