Search results

Results found: 6694
Vitol turns to former UK energy minister Charles Hendry
Vitol turns to former UK energy minister Charles Hendry
Hesham Zakai
20 March 2014

Swiss energy-trader Vitol has appointed Charles Hendry, Conservative MP for Wealden and a former energy minister, as a consultant on a part time basis. Hendry will provide advisory services on UK and EU energy policies.

Metalloinvest signs PXF facility
Metalloinvest signs PXF facility
Hesham Zakai
20 March 2014

Russian iron ore producer Metalloinvest has signed a $1.15 billion pre-export facility with a number of international banks.

JP Morgan to sell physical commodities arm to Mercuria Energy
JP Morgan to sell physical commodities arm to Mercuria Energy
Jonathan Bell
19 March 2014

JP Morgan has reached a definitive agreement to sell its physical commodities business to Mercuria Energy for $3.5 billion. The all cash transaction is expected to close in the third quarter of 2014, subject to regulatory approvals.

Nordgold agrees Sberbank facility for refinancing
Nordgold agrees Sberbank facility for refinancing
Hesham Zakai
18 March 2014

Russian gold producer Nordgold has agreed a five-year $500 million loan facility with Sberbank which it will use to repay its existing debt facilities of $465.5 million.

Jonathan Bell talks to MIT's Paul Cohen Dumani
Jonathan Bell talks to MIT's Paul Cohen Dumani
Jonathan Bell
17 March 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.

JB's weekly round-up - 17 March 2014
JB's weekly round-up - 17 March 2014
Jonathan Bell
17 March 2014

We are delighted to announce the results of our “Perfect 10” – the 2013 Deals of the Year. We received in excess of 150 submissions and so whittling so many fantastic deals down to just 10 was a real challenge. Of our winners, 4 were commodity finance transactions, and 6 were export finance or at least had a significant ECA component.

Wilmar signs upsized RCF
Wilmar signs upsized RCF
Hesham Zakai
17 March 2014

Asia’s leading agribusiness group Wilmar has closed a $2.49 billion revolving credit facility (RCF) with a club of international banks.

Investor group formed to finance new Ghana Commodity Exchange
Investor group formed to finance new Ghana Commodity Exchange
Jonathan Bell
13 March 2014

An initiative, announced today, could soon see the establishment of the new Ghana Commodity Exchange (GCX). And beyond this, there is the potential for the GCX to become a West African hub.

Magnolia LNG project moves forward with further FTA export rights
Magnolia LNG project moves forward with further FTA export rights
Jonathan Bell
7 March 2014

The US-based Magnolia LNG export project is moving forward with two major developments taking place this week.

Hindustan Petroleum signs syndicated facility
Hindustan Petroleum signs syndicated facility
Jonathan Bell
28 February 2014

Hindustan Petroleum Corporation (HPCL) has secured a $500 million three-year term loan through bookrunners State Bank of India, DBS and RBS

Ecom Agroindustrial Asia launches revolver
Ecom Agroindustrial Asia launches revolver
Jonathan Bell
28 February 2014

Swiss-headquartered agricultural commodity trading group Ecom Agroindustrial Asia has launched a $300 million, 364-day revolving credit facility (RCF) into the market.

Senegal agri-sector gets trade boost from IFC and BICIS
Senegal agri-sector gets trade boost from IFC and BICIS
Jonathan Bell
26 February 2014

The IFC has launched a risk-sharing facility with Banque Internationale pour le Commerce et l’Industrie du Sénégal (BICIS) that will improve access to finance for the agribusiness and trade sectors in Senegal.

Bunge revolver in syndication
Bunge revolver in syndication
Jonathan Bell
24 February 2014

Agricultural producer and trading company Bunge is in the market with a three year, $1.75 billion revolving credit facility (RCF).

Trafi signs to take stake in Chinese copper smelter
Trafi signs to take stake in Chinese copper smelter
Jonathan Bell
21 February 2014

In a strategic move, commodity trader Trafigura together with Trafigura Investment (China) has signed an agreement to acquire a 30% equity stake in the Jinchuan Group's newly established copper smelter in Fangchengang, China.

South Stream Transport places pipe order as line gathers momentum
South Stream Transport places pipe order as line gathers momentum
Hesham Zakai
20 February 2014

South Stream Transport (SST) has placed an order for 75,000 12-metre pipes to be used in the construction of the South Stream pipeline in a sign of the project’s increasing momentum.

ED&F Man launches RCF into syndication
ED&F Man launches RCF into syndication
Jonathan Bell
20 February 2014

UK-headquartered specialist agricultural trader and broker ED&F Man has launched its annual revolving credit facility (RCF) into general syndication.

Keaton Energy secures financing facility from Investec
Keaton Energy secures financing facility from Investec
Hesham Zakai
19 February 2014

Keaton Energy, the South African coal mining and development company, has concluded a R350 million ($32 million) financing facility from Investec Bank, of which R300 million ($27.5 million) is a term loan and R50 million ($4.5 million) is a working capital facility.

Transbunker gains funds from VTB for oil terminal project
Transbunker gains funds from VTB for oil terminal project
Jonathan Bell
17 February 2014

VTB Bank has signed a $17 million corporate loan for Russian bunkering company Transbunker Group. The funds will be used for general working capital and to acquire assets for production expansion.

Lundin Petroleum signs largest European RBL yet
Lundin Petroleum signs largest European RBL yet
Jonathan Bell
14 February 2014

Swedish-headquartered upstream oil firm Lundin Petroleum has signed a $4 billion reserve-based lending (RBL) facility. The new Lundin RBL is believed to be the largest RBL ever arranged for an upstream oil and gas company in the European market.

Sberbank arranges financing for Kazakhstan’s Maten Petroleum
Sberbank arranges financing for Kazakhstan’s Maten Petroleum
Jonathan Bell
13 February 2014

Sberbank Corporate & Investment Banking (CIB) together with SB Sberbank has arranged financing for Kazakhstan’s Maten Petroleum. The funds will be used for the company’s general corporate and trade purposes.

Trafi to build LatAm hub in Montevideo
Trafi to build LatAm hub in Montevideo
Jonathan Bell
10 February 2014

Commodity trader Trafigura has announced its intention to invest in and build its regional hub in Montevideo, Uruguay, to complement regional offices already established in Houston, Geneva and Singapore. The Montevideo office will become the group’s Latin American (LatAm) regional hub.

Gazprom Neft reviews debt portfolio
Gazprom Neft reviews debt portfolio
Jonathan Bell
6 February 2014

Russian oil and gas producer Gazprom Neft’s board of directors has been reviewing the company’s debt structure, with a view to the optimisation of raising funds.

Banks flock to Trafigura RCF despite reduced pricing
Banks flock to Trafigura RCF despite reduced pricing
Jonathan Bell
3 February 2014

Commodity trader Trafigura is understood to have secured a significant reduction on the pricing of its $4 billion revolving credit facility (RCF) currently in the market. However, despite the reduction from last year’s RCF, banks are understood to be flocking to the deal.

Suek signs syndicated PXF facility
Suek signs syndicated PXF facility
Hesham Zakai
29 January 2014

Russian coal mining company Siberian Coal Energy (Suek) has secured a five-year, $1.5 billion syndicated pre-export finance (PXF) facility. The deal was signed on 28 January 2014.

First Quantum mandates banks for new facilities
First Quantum mandates banks for new facilities
Jonathan Bell
28 January 2014

First Quantum Minerals (First Quantum) has formally mandated banks to arrange a new $2.5 billion five-year term loan and revolving credit facility. The company has also announced today other optimisation measures of its capital structure.

EBRD and HSBC provide Egypt’s IPR with energy loan
EBRD and HSBC provide Egypt’s IPR with energy loan
Hesham Zakai
28 January 2014

The European Bank for Reconstruction and Development (EBRD) and HSBC Egypt have combined to provide a $100 million financing facility for independent Egyptian exploration and development company Improved Petroleum Recovery (IPR).

Sustainable commodity finance gains momentum
Sustainable commodity finance gains momentum
Hesham Zakai
27 January 2014

The Banking Environment Initiative (BEI) has set out trade financing solutions aimed at increasing sustainability in the commodity trade sector, in a report entitled ‘Sustainable Shipment Letter of Credit’ released on 24 January.

Pacific Drilling appoints new CFO
Pacific Drilling appoints new CFO
Jonathan Bell
23 January 2014

Houston-headquartered, specialist oil exploration company Pacific Drilling has appointed Paul Reese to the role of chief financial officer (CFO), effective 28 February 2014.

Wilmar mandates banks for RCF syndication
Wilmar mandates banks for RCF syndication
Jonathan Bell
20 January 2014

Singapore-headquartered agri-group Wilmar International has mandated the banks for the launch of its new $1.75 billion revolving credit facility (RCF) syndication.

StanChart signs loan for agri-development in Vietnam
StanChart signs loan for agri-development in Vietnam
Hesham Zakai
17 January 2014

Standard Chartered (StanChart) Vietnam has signed a $70 million trade facility agreement with An Giang Plant Protection (AGPPS) to allow the agricultural business to develop its paddy field purchase model in south-west Vietnam.

Uralchem secures mega-loan for Uralkali stake
Uralchem secures mega-loan for Uralkali stake
Jonathan Bell
6 January 2014

Russian mineral fertiliser producer Uralchem OJSC has secured a new mega-loan amounting to $4.5 billion. A major part of the loan will be used to pay for the purchase of an approximate 20% stake in the Russian potash producer Uralkali.

Uralkali signs unsecured loan with Sberbank
Uralkali signs unsecured loan with Sberbank
Jonathan Bell
20 December 2013

Russian fertiliser production company Uralkali has signed an unsecured, non-revolving $2 billion credit line with Sberbank. The credit line will be open from 1 February to 31 December 2014. The facility has a five-year tenor, maturing on 18 December 2019. No detail has been released on pricing.

Puma completes financing for Australian acquisitions
Puma completes financing for Australian acquisitions
Jonathan Bell
20 December 2013

Puma Energy (Australia) has finally closed the A$460 million ($412 million) financing for its acquisitions of Ausfuel Gull, Neumann Petroleum and Central Combined Group. The moves to acquire these interests began earlier in 2013.

Dana Petroleum secures credit facility
Dana Petroleum secures credit facility
Jonathan Bell
20 December 2013

Dana Petroleum has secured a new $1.5 billion credit facility from a syndicate of international banks.

ING names new global head T&CF
ING names new global head T&CF
Mayur Pande
19 December 2013

ING Corporate Bank has named Anthony van Vliet as the new global head trade & commodity finance (T&CF). He takes over from Paul van Heerde who has been in charge since 1 April 2006. Van Heerde retires at the end of 2014, after a successful career of 28 years at ING

Metalloinvest refinances Sberbank loan
Metalloinvest refinances Sberbank loan
Jonathan Bell
17 December 2013

Russian iron ore mining and metals company Metalloinvest has signed a new agreement with Sberbank to refinance existing debt. Metalloinvest and Sberbank signed the agreement on refinancing existing credit facilities, which were earlier provided by the bank to the company. The new facilities significantly improve the company’s debt maturity schedule.

Rosneft makes early repayments related to TNK-BP
Rosneft makes early repayments related to TNK-BP
Jonathan Bell
17 December 2013

Russian oil company Rosneft has announced that it has started early repayment of a part of the loan obtained earlier in 2013 from international banks to finance TNK-BP acquisition.

Rusal signs credit facility with VTB Capital
Rusal signs credit facility with VTB Capital
Mayur Pande
16 December 2013

Russian aluminum producer Rusal has signed an agreement with VTB Capital for the establishment of a credit line with a total aggregate amount of up to RUB15 billion ($456 million).

Deutsche arranges landmark pre-payment for Tangsteel
Deutsche arranges landmark pre-payment for Tangsteel
Jonathan Bell
16 December 2013

Deutsche Bank, working together with steel trader Duferco, has arranged an $800 million structured steel pre-payment term loan facility for China-based Tangshan Iron & Steel Group (Tangsteel).

Lukoil signs export financing for Bulgarian refinery
Lukoil signs export financing for Bulgarian refinery
Jonathan Bell
13 December 2013

Russian oil and gas company Lukoil has signed an export finance package with a club of international banks for a major upgrade programme at its Bulgarian refining subsidiary Lukoil Neftochim Burgas. The project is one of the largest financings for a private company operating in the fuel and energy sector in Bulgaria.

Gunvor signs oversubscribed RCF
Gunvor signs oversubscribed RCF
Jonathan Bell
9 December 2013

Gunvor Group has signed a $1.515 billion revolving credit facility (RCF) for joint borrowers Gunvor International BV and Gunvor SA in a syndication which saw heavy oversubscription and a wide ranging group of banks.

Russian Copper Company successfully closes PXF
Russian Copper Company successfully closes PXF
Jonathan Bell
9 December 2013

Russkaya Mednaya Kompaniya (Russia Copper Company – RCC) has successfully closed its $250 million pre-export finance (PXF) facility. The facility is a five-year, copper cathode and copper wire rod PXF in favour of RCC. The facility, which launched in early October, is aimed at refinancing existing debt of the RCC group of companies and for working capital (TXF News 3 October).

JB's weekly round-up - 9 December 2013
JB's weekly round-up - 9 December 2013
Jonathan Bell
9 December 2013

tagmydeals is a free of charge, user-generated database covering deals in trade, export and project finance. Following months of consultation with many of you (something we really appreciate), we have built something that the industry will hopefully find new and genuinely useful.

IFC and SG combine to finance Cote d’Ivoire oil imports
IFC and SG combine to finance Cote d’Ivoire oil imports
Mayur Pande
6 December 2013

IFC and Société Générale CIB (SG CIB) have co-arranged a $300 million trade finance facility to fund crude oil imports into Cote d’Ivoire. The arrangement is for the Cote d’Ivoire’s only oil refinery and is designed to guarantee a steady supply of critical energy imports for the country and its landlocked neighbours.

Mechel arranges covenant holidays with lenders
Mechel arranges covenant holidays with lenders
Jonathan Bell
6 December 2013

Russian mining and metals company, Mechel, has agreed terms for covenant holidays with a group of international lenders and separately in relation to bilateral credit lines from Russia’s VTB Bank.

EBRD provides financing for Ukrainian agri-sector
EBRD provides financing for Ukrainian agri-sector
Mayur Pande
4 December 2013

The European Bank for Reconstruction and Development (EBRD) is providing a new debt facility to Ukrainian agribusiness producer Myronivsky Hliboproduct (MHP Group).

Gazprom-Neft signs mega club loan
Gazprom-Neft signs mega club loan
Mayur Pande
3 December 2013

Russian oil exploration and producing company, Gazprom-Neft, has signed a $2.15 billion club term facility agreement with a group of international banks. The heavily oversubscribed loan is one of the largest the company has ever achieved.

Gazprombank finances PDVSA Venezuelan JV
Gazprombank finances PDVSA Venezuelan JV
Jonathan Bell
3 December 2013

Russia’s Gazprombank has agreed to provide financing to an oil producing joint venture with Petróleos de Venezuela (PDVSA), the state-owned Venezuelan oil and natural gas company.

Gilles Sayer joins Essar group
Gilles Sayer joins Essar group
Dan Sheriff
29 November 2013

Structured commodity financier Gilles Sayer has joined Essar as managing director of Peak Trading Overseas, a wholly-owned subsidiary of Essar Global Fund. In this capacity, Sayer and his team will develop structured and trade finance solutions for the benefit of the natural resources companies controlled by Essar Global Fund.

Mechel receives first tranche for the Elga coal complex
Mechel receives first tranche for the Elga coal complex
Mayur Pande
28 November 2013

Russian mining and metals company Mechel, has received the first tranche of the project financing for the Elga Coal Complex’s first stage of development. The company is developing the project through the Elgaugol project company.