The Inter-American Development Bank (IADB) is providing a $37 million loan to assist with the financing of a new 400,000 tons per year steel production plant in Ecuador.
Belgian-headquartered mining and metals company Nyrstar has successfully closed the refinancing of its structured commodity trade finance facility at €400 million ($442.7 million), in a transaction led by Deutsche Bank. There is scope under an accordion feature within the deal to considerably increase the borrowing.
BEST EUROPEAN/EURASIAN ECA FINANCE DEAL OF THE YEAR Dalia Gebrial looks at how this ECA-backed financing will lead to the transformation of the Turkmenistan petrochemicals sector.
While much of the global economic focus of late seems to be on Greece and its potential exit from the eurozone – Grexit, or probably more apt Acropolis Now – quite a lot of important fabric building is and has been happening in our wonderful world of trade and project finance. The loan with ENOC comes at a time when the company looks set to acquire the Turkmenistan-focused Dragon Oil for an estimated $5.8 billion for the remaining 46% of Dragon.
Italian export credit agency, SACE, has signed a cooperation agreement with the Angolan Ministry of Finance. The agency has also finalised a €200 million ($220 million) credit line in favour of the Angolan public oil & gas company Sonangol, aimed at supporting export and investments of Italian companies in the African country.
Natural rubber supply chain manager Halcyon Agri Corporation has successfully completed a refinancing of up to $413 million, replacing existing debts with a mix of term loan and working capital facilities.
US-headquartered, Castleton Commodities International (CCI) has closed two committed credit facilities totalling $3.75 billion. The funds will be used for general corporate purposes, but also largely to finance the company's acquisition of Morgan Stanley's Global Oil Merchanting business.
Detour Gold Corporation has amended its C$135 million ($106 million) senior secured credit facility following negotiations with its bank lending group.
Oil producer Statoil ASA has successfully signed a $5 billion multicurrency revolving credit facility, guaranteed by Statoil Petroleum AS. The syndication saw a healthy oversubscription with Statoil electing to increase the initial launch figure.
Energy trader Vitol Group has successfully renewed its one-year revolving credit facility (RCF) for its Singapore-headquartered Asian arm Vitol Asia. The facility was oversubscribed in syndication and Vitol elected to take additional funds.
Rabobank has appointed Muriel Schwab as head trade & commodity finance (TCF) Americas. She takes up the post as of 1 July, and will be based in New York.
Commodity trading company Trafigura and Singapore LNG Corporation (SLNG), operator of the country’s first liquefied natural gas (LNG) terminal, have signed a storage agreement to utilise excess capacity within the Singapore LNG terminal on Jurong Island.
Independent energy and commodities trading group Mercuria Energy Trading has signed a $2.5 billion multi-currency revolving credit facility (RCF). Following strong demand from banks, the facilities were significantly oversubscribed by 35%, and subsequently increased in aggregate, with a scale-back in participations.
Independent energy trading company BB Energy has signed a $200 million revolving credit facility (RCF) with a club of 25 financial institutions.
Independent US-based energy company Venoco has entered into a new $75 million term loan facility with Deutsche Bank. The company will use the proceeds from the new facility to repay all amounts outstanding under its earlier term loan facility entered into in April 2015.
Ukraine’s leading vertically integrated agribusiness company Kernel has signed a $65 million syndicated working capital credit facility with a group of European commercial banks. The European Bank for Reconstruction and Development (EBRD) has also come into the transaction with a $20 million take.
Dubai-based refining and trading company Emirates National Oil Company (ENOC) has secured a $1.5 billion syndicated loan through some 21 banks which took part in the syndication. The funds will support the group’s expansion plans including acquisitions, and provide the energy firm with longer term funding.
Today, the Ghana Cocoa Board (Cocobod) formally announced the close of the senior phase of its annual pre-export financing for the 2015-2016 cocoa crop. The financing was launched seeking $1.8 billion under a pre-export finance (PXF) structure, and the facility is fully underwritten by the arranging group – with a hefty oversubscription – at this stage.
UniCredit Austria has signed a new credit agreement for Russian oil and gas company Gazprom – totaling €300 million ($335 million). The signing took place today at the St Petersburg International Economic Forum 2015.
Oman-based drilling rig operator Dalma Energy International has secured a $77.5 million financing arranged by Bank Sohar and Qatar National Bank (QNB).
June is a month that is always jam-packed with highly-publicised sporting accomplishments. With leagues and tournaments of every variety coming to a climatic end in the month, news feeds from Hong Kong to New York are always inundated with extravagant – if only occasionally merited – eulogies on the triumphs of a fleetingly-victorious team or sportsman.
Cristiane Gomes, head of sales & relationship management, South America, BNY Mellon Treasury Services, explores the intensification of economic ties between China and Latin America and what this means for local banks and corporates.
North and Latin-American gold producer Goldcorp has increased its existing credit facility from $2 billion to $3 billion, as well as extending the term to June 2020, under existing terms and conditions.
A video presentation of Sullivan & Worcester's Article 194 opinion on the BAFT Master Participation agreement
June is a month that is always jam-packed with highly-publicised sporting accomplishments. With leagues and tournaments of every variety coming to a climatic end in the month, news feeds from Hong Kong to New York are always inundated with extravagant – if only occasionally merited – eulogies on the triumphs of a fleetingly-victorious team or sportsman.
Robert Parson and Jonathan Solomon, partners at leading law firm Reed Smith, take a look at the implications for the commodities market of the recent Mercuria v Citigroup ruling.
Houston-headquartered oil and gas exploration and production company Apache Corporation has signed a new credit agreement with a group of international bank lenders amounting to $3.5 billion.
Natixis has led a group of international banks in arranging a €1.4 billion project refinancing for Exeltium, the French industrial consortium providing power to a range of French electro-intensive industrial clients and sectors.
Russian potash producer Uralkali has announced the upscaling of its new pre-export financing (PXF) with the facility now amounting to $630 million. The increase of the initial amount has now taken place with the inclusion of Bank of China (BoC), which has come into the deal with a take of $100 million.
Amsterdam-headquartered Advanced Metallurgical Group (AMG) has entered into a new $320 million multi-currency term loan and revolving credit facility (RCF). The facility was met with good bank market appetite resulting in a substantial oversubscription.
Swiss-headquartered commodity trading company Glencore has signed its $15.25 billion revolving credit facilities (RCF). A total of 60 banks committed to the facilities, including 34 mandated lead arrangers and bookrunners.
BEST SOFT COMMODITIES FINANCE DEAL OF THE YEAR Jonathan Bell reviews how Rabobank led the first structured inventory financing for Australia’s GrainCorp.
BEST EUROPEAN/EURASIAN COMMODITIES FINANCE DEAL OF THE YEAR Hesham Zakai discovers why simplicity was the best policy for Aegean Marine Petroleum’s new borrowing base facility.
BEST AFRICAN COMMODITIES FINANCE DEAL OF THE YEAR Jonathan Bell assesses the success of Glencore’s prepayment financing in the landmark deal with SHT and in Chad.
MOST INNOVATIVE COMMODITIES FINANCE DEAL OF THE YEAR Jonathan Bell examines the innovations Afreximbank employed when it structured a reserve-based lending facility for Nigeria’s Eroton.
BEST ENERGY FINANCE DEAL OF THE YEAR Hesham Zakai reviews how government support, a winning international alliance and strategic timing have combined in this EGPC deal to put Egypt back on the global investment map.
BEST COMMODITIES DFI DEAL OF THE YEAR Dalia Gebrial speaks to ITFC about the Islamic financing structure wich secured the Calik Cotton deal.
BEST AMERICAS COMMODITIES FINANCE DEAL OF THE YEAR Jonathan Bell reveals how ING structured a rarely seen syndicated ACC financing for Biosev and extended the term of financing to three years.
BEST ASIA-PACIFIC COMMODITIES FINANCE DEAL OF THE YEAR Hesham Zakai praises a Noble Agri revolving credit facility that can have a significant impact on the agri landscape.
Luxembourg-headquartered commodity trading company, Traxys Sarl (Traxys) has signed and closed a $1 billion borrowing base facility. The funds will be used to refinance existing debt and for working capital purposes.
BEST MIDDLE EASTERN COMMODITIES FINANCE DEAL OF THE YEAR Dalia Gebrial reviews a unique soft commodity deal in the Turkish market where ABN AMRO worked together with EBRD and FMO to pull together a bespoke financing for Tiryaki Agro.
BEST OVERALL COMMODITIES FINANCE DEAL OF THE YEAR Dalia Gebrial examines the largest-ever structured commodity trade finance deal for a Chinese company.
Join us for all the glitz and glamour as we announce the winning Export Finance Industry Choice and Deals of The Year Awards, beaming our virtual awards ceremony to home offices across the globe!
A virtual event addressing the challenges of sustainable commodity finance head on. Bringing you an atmosphere that is inspiring and ideas led, that demonstrates the art of the possible.
The destination for African export & project finance. Come together with deal makers across the region for virtual networking opportunities second to none .
TXF is introducing the 'Financing the Energy Transition' event, focusing on the latest updates and future plan of the energy transition.
We're proud to be bringing back TXF Global Commodity Finance, a must-attend event for the commodity finance community.
Fasten your seatbelt for the second leg of the ultimate export finance world tour, with stop-offs at Asia, Mena, Europe, Africa, and the Americas
TXF invites you to join a dynamic group of export finance professionals to plot your ideas on where we're heading and how to get there
This year's global trade virtual event will look into the impact of covid-19 to the market and explore new opportunities
Calling all changemakers in export finance! Join us to plot your ideas about diversity, sustainability and inclusion in the industry. If you are here to make a difference you are in the right place!
Your largest export, agency & project finance event returns to Madrid for 2021 after a 2020 virtual extravaganza! Industry renowned as the go-to for global export finance. Let the deal-making begin!
We are delighted to bring back this senior-level virtual event dedicated to the MENA region! Examine the regions' key trends and future opportunities whilst networking in a safe space.
A key event in the export, agency & project finance event calendar for senior and influential professionals working across the Asia-Pacific region. Networking and deal opportunities abound!
After a year away, we are delighted to bring the TXF Global Commodity Finance physical event to Geneva! Join dealmakers from across the globe to network in-person for an unmissable opportunity
A dedicated forum in Singapore for the APAC commodity finance community. Join dealmakers from across Asia-Pacific as we tackle key industry issues and analyse the latest deals in the market.
TXF presents the very latest updates on Spanish Export Finance. This virtual annual event will cover all current and future deals and explore new opportunities for the market.
TXF France is the industry leading event to make connections and discover new sectors, regions and ideas for ECAs, banks, exporters and service providers.
The next episode of this intimate and focused event returns virtually to get you up to date on the latest trends in Italian Export Finance. Expect first-class networking and debate
The trusted meeting place for anyone involved in the financing of German exports.
TXF presents this intimate and focused event returning virtually to get you up to date on the latest trends in British Export Finance. Expect first-class networking and debate!