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Promotion for Mackay at StanChart Singapore
Promotion for Mackay at StanChart Singapore
Jonathan Bell
7 May 2014

Scobie Mackay has been promoted to the position of head, commodity traders and agribusiness, trade finance at Standard Chartered (StanChart)in Singapore.

First Quantum closes debt syndication
First Quantum closes debt syndication
Jonathan Bell
6 May 2014

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.

Trafigura publishes whitepaper on economics of commodity traders
Trafigura publishes whitepaper on economics of commodity traders
Hesham Zakai
2 May 2014

Commodity trader Trafigura has published a whitepaper analysing the economics of commodity trading firms.

TXF Natural Resources and Commodities Finance Special Report
TXF Natural Resources and Commodities Finance Special Report
Hesham Zakai
2 May 2014

As part of the TXF Commodity Finance Series, TXF is happy to present its May 2014 Natural Resources and Commodities Finance Special Report.

JB's weekly round-up - 02 May 2014
JB's weekly round-up - 02 May 2014
Katy Rose
2 May 2014

Next week TXF will be delighted to host in excess of 150 delegates for our inaugural Natural Resources and Commodities Finance Conference in Amsterdam.

The big rust - an update on the Latin American coffee leaf rust outbreak
The big rust - an update on the Latin American coffee leaf rust outbreak
Gehan Talwatte
1 May 2014

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.

Russia’s Acron secures bridge loan
Russia’s Acron secures bridge loan
Jonathan Bell
30 April 2014

Russian fertiliser producer Acron Group has arranged a six month $400 million bridge term loan facility via a club of relationship banks.

Tap Oil signs borrowing base facility
Tap Oil signs borrowing base facility
Jonathan Bell
29 April 2014

Perth, Australia headquartered oil exploration company Tap Oil has signed a borrowing base debt facility with BNP Paribas (BNPP) for up to $90 million, primarily to fund development of the Manora oil field in the Gulf of Thailand.

Toughing it out in the aluminium sector
Toughing it out in the aluminium sector
Alexandra Bouriko
29 April 2014

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.

Banking on sustainability in softs
Banking on sustainability in softs
Jonathan Bell
29 April 2014

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.

Vietnam’s VNC secures tailor- made solutions
Vietnam’s VNC secures tailor- made solutions
Jonathan Bell
29 April 2014

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 moves into fast lane to secure agri-trading assets
China moves into fast lane to secure agri-trading assets
Jonathan Bell
29 April 2014

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.

Refocusing to provide comprehensive coverage
Refocusing to provide comprehensive coverage
Jonathan Bell
29 April 2014

Jonathan Bell talks with the RB International (RBI) global natural resources team heads in Vienna about what the recent reorganisation means for the bank’s operations and clients.

MIT proves consistent enhancement of its collateral management system for commodity banks
MIT proves consistent enhancement of its collateral management system for commodity banks
Jonathan Bell
29 April 2014

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.

Commodity traders survey
Commodity traders survey
Hesham Zakai
29 April 2014

Hesham Zakai provides an overview of the FImetrix survey on commodity trading companies' views on finance and regulation.

Gunvor Singapore launches Asian RCF
Gunvor Singapore launches Asian RCF
Jonathan Bell
28 April 2014

Trading company Gunvor Singapore, a wholly-owned subsidiary of Gunvor Group - has launched a $350 million syndicated revolving credit facility RCF, which will support new investments and existing operations in the Asia-Pacific.

The Rosneft prepayment Deal of the Year 2013
The Rosneft prepayment Deal of the Year 2013
Jonathan Bell
28 April 2014

Jonathan Bell reviews the Rosneft mega-prepayment Deal of the Year 2013.

LNG developments in North America
LNG developments in North America
Jonathan Bell
28 April 2014

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 the official media partner for this year’s Fin4Ag
TXF is the official media partner for this year’s Fin4Ag
Helen Castell
24 April 2014

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

Reliance signs landmark credit line with Japanese institutions
Reliance signs landmark credit line with Japanese institutions
Jonathan Bell
23 April 2014

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.

EBRD signs loan to support Ukrainian grain producers
EBRD signs loan to support Ukrainian grain producers
Jonathan Bell
22 April 2014

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 and BA partner for innovative jet fuel project
Solena and BA partner for innovative jet fuel project
Hesham Zakai
17 April 2014

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.

JB's weekly round-up - 14 April 2014
JB's weekly round-up - 14 April 2014
Jonathan Bell
16 April 2014

The clocks have changed, the weather has brightened and tulips have started to bloom outside the gates of TXF Towers… A timely reminder that it is now three weeks until our Natural Resources and Commodities Finance Conference in Amsterdam.

Caracal Energy agrees to sell to Glencore Xstrata
Caracal Energy agrees to sell to Glencore Xstrata
Jonathan Bell
16 April 2014

Africa-focused oil exploration company Caracal Energy has agreed terms to sell to Glencore Xstrata. The deal is worth approximately $1.3 billion.

First Quantum signs term loan and revolver
First Quantum signs term loan and revolver
Jonathan Bell
16 April 2014

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.

Ecom Agroindustrial Asia closes increased revolver
Ecom Agroindustrial Asia closes increased revolver
Jonathan Bell
16 April 2014

Swiss-headquartered agricultural commodity trading group Ecom Agroindustrial Asia has closed its latest revolving credit facility (RCF), initially launched earlier this year.

Asanko Gold amends debt financing
Asanko Gold amends debt financing
Jonathan Bell
15 April 2014

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 sells Peru copper mine to Chinese consortium
Glencore Xstrata sells Peru copper mine to Chinese consortium
Jonathan Bell
14 April 2014

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.

MRI Trading mandates ABN and ING for syndicated loan
MRI Trading mandates ABN and ING for syndicated loan
Jonathan Bell
14 April 2014

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.

Deutsche Bank: Banking innovation for sustainable supply chains
Deutsche Bank: Banking innovation for sustainable supply chains
Daniel Schmand
14 April 2014

How financial institutions can partner with consumer goods companies to help reduce deforestation

TXF Webinars: commodity traders concerned over regulation and finance
TXF Webinars: commodity traders concerned over regulation and finance
Dan Sheriff
11 April 2014

Hear commodity traders' views on finance and regulation, courtesy of Doug Ziurys of FImetrix

Norilsk signs unsecured loans with UniCredit and Raiffeisenbank
Norilsk signs unsecured loans with UniCredit and Raiffeisenbank
Jonathan Bell
10 April 2014

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.

Enel signs long-term LNG supply contracts with Cheniere Energy
Enel signs long-term LNG supply contracts with Cheniere Energy
Jonathan Bell
9 April 2014

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.

Caracal Energy secures loan for Chad operations
Caracal Energy secures loan for Chad operations
Jonathan Bell
8 April 2014

Canadian-based, oil exploration company Caracal Energy, through its wholly owned subsidiary PetroChad Mangara Limited, has signed a $140 million reserve based senior secured facility with a syndicate of lenders.

Tullow Oil signs and increases RCF
Tullow Oil signs and increases RCF
Jonathan Bell
8 April 2014

London-headquartered, Africa-focused, oil exploration company Tullow Oil has refinanced its $500 million corporate revolving credit facility (RCF) and successfully increased the size of the facility to $750 million.

Turkey’s Tiryaki Agro secures DFI and bank funding
Turkey’s Tiryaki Agro secures DFI and bank funding
Jonathan Bell
4 April 2014

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’s Cofco buys stakes in Noble Agri and Nidera
China’s Cofco buys stakes in Noble Agri and Nidera
Jonathan Bell
3 April 2014

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 recruits to strengthen ECT origination
ABN recruits to strengthen ECT origination
Jonathan Bell
2 April 2014

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.

Henderson hired at Gunvor
Henderson hired at Gunvor
Dan Sheriff
2 April 2014

Experienced trade financier Ian Henderson has been hired as a consultant for Gunvor - the commodities trader.

Trade reshuffle at BNP Paribas
Trade reshuffle at BNP Paribas
Dan Sheriff
2 April 2014

BNP Paribas Corporate and investment Banking has created a new global trade and transaction banking business line, headed by Marc Carlos in Paris.

Cargill and Copersucar to combine global sugar trading activities
Cargill and Copersucar to combine global sugar trading activities
Jonathan Bell
1 April 2014

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.

Newmont Mining closes term loan and revolver
Newmont Mining closes term loan and revolver
Jonathan Bell
1 April 2014

Canadian-headquartered Newmont Mining Corporation has closed its $575 million term loan and $3 billion revolving credit facility (RCF). In the process the company has secured better terms of flexibility and maturity.

JB's weekly round-up - 31 March 2014
JB's weekly round-up - 31 March 2014
Jonathan Bell
31 March 2014

We are delighted that Doug Ziurys of FImetrix will be presenting the results of his annual survey of commodity traders during a live webinar on 10 April 2014.

Trafigura closes oversubscribed cut-price RCF
Trafigura closes oversubscribed cut-price RCF
Hesham Zakai
31 March 2014

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.

Kazakh rail company gets EBRD funds for rolling stock
Kazakh rail company gets EBRD funds for rolling stock
Jonathan Bell
28 March 2014

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 closes Archer Daniels Midland trade securitisation
Finacity closes Archer Daniels Midland trade securitisation
Dan Sheriff
28 March 2014

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.

Trafigura revamps management team
Trafigura revamps management team
Hesham Zakai
26 March 2014

Global commodities trader Trafigura has announced that company co-founder and chairman Claude Dauphin has stepped down from his role as chief executive officer, with former head of mining and market risk Jeremy Weir replacing him.

Trafigura secures first significant yen loan
Trafigura secures first significant yen loan
Hesham Zakai
26 March 2014

Trafigura has negotiated its first significant loan in the Japanese currency, with the close of a JPY25.5 billion ($250 million) loan.

Banks jump onboard as Bunge revolver signs
Banks jump onboard as Bunge revolver signs
Jonathan Bell
24 March 2014

Agricultural producer and trading company Bunge has signed its three year, $1.75 billion revolving credit facility (RCF). The transaction was initially launched in February 2014 (TXF News 24 February 2014).

Stemcor boosted by new credit facility
Stemcor boosted by new credit facility
Hesham Zakai
24 March 2014

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.