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Colombia’s Ecopetrol signs major syndicated loan

Jonathan Bell

18 February 2015

Colombian state oil company Ecopetrol has secured a major loan from a syndicate of eight international banks. The visit to the international debt market is a rare outing for the company.

Commodity trade

China’s nerves of steel

Dr. Rebecca Harding

18 February 2015

Why January’s drop in exports may not be such bad news | Chinese exports in January 2015 fell by 3.3% compared to a year earlier.

Commodity trade

JB's weekly round up - 17 February 2015

Jonathan Bell

17 February 2015

TXF is gearing up for our Natural Resources & Commodities Finance event, which will be held in the beautiful city of Amsterdam on May 20-21.

Commodity Trade

National Petroleum Services secures refinancing facility

Jonathan Bell

16 February 2015

The Dubai-headquartered oil and gas services provider National Petroleum Services Group (NPS) has successfully secured a $200 million refinancing arrangement through local and international banks. The deal demonstrates confidence in NPS’s strong track record and will accelerate the expansion of the company’s growing regional footprint.

Commodity trade

Rosneft makes early repayment to creditors

Jonathan Bell

13 February 2015

Russian oil company Rosneft has made an early repayment to creditors in relation to part of the loan it obtained to finance the acquisition of TNK-BP back in 2013.

Commodity trade

IEA: Russia to be biggest loser in transformed oil industry

Hesham Zakai

11 February 2015

The continuing energy price crisis, coupled with the depreciation of the rouble and international sanctions, will see Russia emerge as the energy industry’s ‘top loser’ in the next few years, the International Energy Agency’s medium-term oil market report (MTOMR) has found.

Commodity trade

Oil and gas project risk in North Africa outstrips reward

Hesham Zakai

11 February 2015

Oil and gas exploration and production (E&P) projects in North Africa are not sufficiently attractive enough today to counteract the risks of doing business there, according to Total E&P’s vice president for North Africa Jean-Daniel Blasco.

Commodity trade

Rosneft’s Sechin takes aim at OPEC and West

Hesham Zakai

10 February 2015

Rosneft’s chief executive Igor Sechin has hit out at oil cartel OPEC over its stance during the current energy price crisis, while also accusing the West of distorting the oil market.

Commodity trade

Petrobras appoints new CEO and CFO

Jonathan Bell

6 February 2015

Following resignations of top officials at the Brazilian oil company Petrobras, the company has appointed a new CEO, CFO and other senior officials.

Commodity trade

SACE backs bond issued by Italian agri-food firm

Dalia Gebrial

5 February 2015

Italian export credit agency (ECA), SACE, has announced that it will underwrite a bond to be issued by De Cecco, an Italian firm specialised in the production of pasta, extra-virgin olive oil, prepared sauces and tomato derivatives bakery.

Commodity Trade

Glencore buys a 50% stake in ADM’s northern Brazil export terminal

Jonathan Bell

4 February 2015

Archer Daniels Midland (ADM) has reached an agreement to sell to Glencore a 50% stake in its export terminal in Barcarena, in the northern Brazilian state of Pará.

Commodity trade

JB's weekly round up - 03 February 2015

Jonathan Bell

3 February 2015

As the second part of the unique TXF Commodity Traders Interview Series, we speak with specialist trading company Ocean Partners’ managing director Siva Pillay about the rise of their base metals trading operations.

Commodity Trade

Trafigura hires new CFO for North America

Jonathan Bell

30 January 2015

Commodity trading company Trafigura has hired a new chief financial officer for its North American operations.

Commodity Trade

Trafigura launches European revolver

Jonathan Bell

26 January 2015

Commodity trading company Trafigura has launched syndication of its annual major European revolving credit facility (RCF). Eight international banks are acting as initial mandated lead arrangers.

Commodity trade

Trader interview series: Part 2. Ocean Partners secures strong market niche

Helen Castell

23 January 2015

In the second of our series of exclusive interviews with the world’s top commodity traders, Helen Castell talks to Siva Pillay, managing director at Ocean Partners. Find out why the Qingdao scandal should have been foreseen, how boutiques are rivalling traditional trade banks and what overcrowding is doing to the concentrates market.

Commodity trade

Gazprom signs bilateral loans with two European banks

Jonathan Bell

22 January 2015

Russia’s Gazprom has signed two bilateral loans with Western European banks, overall totalling €740 million ($837 million).

Commodity trade

Plains All American secures major credit facility

Jonathan Bell

20 January 2015

Houston-headquartered energy company, Plains All American Pipeline, has secured a major new credit facility, giving it the additional liquidity needed for working capital and acquisition purposes.

Commodity trade

Brazil’s Biosev secures new credit facility

Jonathan Bell

19 January 2015

Biosev, the Brazilian sugar and ethanol arm of French commodity trading firm Louis Dreyfus, has signed a loan with an international bank group, designed to increase its liquidity and extend the maturity profile of its debt.

Commodity trade

ITFC signs Murabaha financing with Burkina Faso’s SOFITEX

Dalia Gebrial

14 January 2015

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) has signed a Murabaha agreement with the government of Burkina Faso and SOFITEX (Société Burkinabè des Fibres Textiles), the cotton exporter and importer of agricultural inputs.

Commodity trade

JB's weekly round up - 13 January 2015 - part 1

Jonathan Bell

13 January 2015

Welcome back to an already turbulent 2015, as the market tries to make sense of where the price of crude oil will ultimately end up.

Commodity Trade

Dubai Aluminium sees success with syndicated loan

Jonathan Bell

12 January 2015

Dubai Aluminium (DUBAL), a wholly owned operating subsidiary of Emirates Global Aluminium (EGA), has completed the syndication of a major corporate loan facility with regional and international banks.

Commodity trade

MIGA provides guarantee for agribusiness investment in Zambia

Jonathan Bell

12 January 2015

The Multilateral Investment Guarantee Agency (MIGA) has agreed to provide support for an investment in a maize and wheat-milling operation in Zambia. The investment will support agricultural value-chain development through improvements

Commodity trade

Russian fertiliser producer Acron signs five-year PXF deal

Jonathan Bell

7 January 2015

Russian fertiliser producer Acron Group has signed a major syndicated pre-export financing (PXF) arrangement with an international bank group.

Commodity trade

Chesapeake Energy closes unsecured RCF

Jonathan Bell

29 December 2014

US natural gas and crude oil producer ~Chesapeake Energy Corporation^ has closed a new revolving credit facility (RCF) on an unsecured basis.

Commodity trade

Mawson West secures new loan and debt restructuring package with Galena and Trafi

Jonathan Bell

23 December 2014

Australian-headquartered mining company, Mawson West, with strategic copper assets in the Democratic Republic of Congo (DRC), has secured a new loan and arranged a restructuring package

Commodity trade

GISA Netherlands signs oversubscribed syndicated RCF

Dalia Gebrial

23 December 2014

The metals mining company, GISA Netherlands (GISA), a subsidiary of Gerald Group, has announced the signing of a substantially oversubscribed syndicated revolving credit facility (RCF) with a club of European banks.

Commodity trade

Senegal agri-sector receives boost with Afreximbank funding

Jonathan Bell

22 December 2014

The Senegalese agri-sector is set for a boost with new funding announced today by the African Export-Import bank (Afreximbank).

Commodity Trade

Enagás renews and extends multi-currency financing facility

Jonathan Bell

22 December 2014

Spanish gas operating company, Enagás, has renewed its multi-currency financing facility which it signed originally in 2013, through a self-arranged deal with a club of international banks.

Commodity trade

VTB provides finance for Armenia’s Teghout copper mine

Jonathan Bell

22 December 2014

VTB Bank has announced that it will provide financing for one of Armenia’s largest mining projects – the development of the enrichment plant at the Teghout copper-molybdenum mining facility in the Lori region of the country.

Commodity trade

Mercuria Energy hires former OW Bunker team

Jonathan Bell

17 December 2014

Swiss-headquartered commodity trading company Mercuria Energy has moved more intensely into the shipping fuel sector with the hire of personnel from the Danish-owned OW Bunker.

Commodity Trade

Russia’s Alrosa secures funds from VTB and UniCredit

Jonathan Bell

16 December 2014

As a result of liquidity improvement measures taken by the company, Russian diamond producer Alrosa has reached two separate new financing agreements with VTB Bank and UniCredit.

Commodity trade

Gazprombank pushes loan repayment from Ukraine’s Ostchem

Jonathan Bell

15 December 2014

Gazprombank is seeking immediate repayment of a major US dollar-denominated loan to Ukrainian fertiliser producer Ostchem Holdings.

Commodity trade

Trader interview series: Part 1. Trafigura steers a smooth course ahead

Helen Castell

12 December 2014

As undisputed drivers of trade, the world’s commodity traders are a hugely influential group but also oddly misunderstood. They are the lynchpins of global trade, not only driving flows with their involvement in everything from production to logistics, but increasingly financing them too. Few players have such a broad perspective of global trade or as intimate an understanding of its every stage. It is a pity then that we know so little about what makes them tick.

Commodity Trade

Politics still shaping oil markets

Damian Karmelich

12 December 2014

Political Monitor's Damian Karmelich writes about how oil markets have continued to be affected by geopolitical factors over the past year.

Commodity Trade

Olam signs five-year loan for Australian agri subsidiaries

Jonathan Bell

12 December 2014

Agricultural producer and trader Olam International has signed a A$350 million ($288.5 million) to be used by its Australian subsidiaries Olam Orchards Australia and Olam Australia Limited.

Commodity trade

Russia’s Polymetal signs credit facility with EDB

Dalia Gebrial

11 December 2014

The Russian precious metals provider, Polymetal International (Polymetal), has secured a non-revolving credit facility from the Eurasian Development Bank (EDB).

Commodity Trade

Deutsche arranges largest Chinese structured commodity deal to date

Jonathan Bell

9 December 2014

Deutsche Bank has arranged a $1.5 billion pre-payment loan for China’s Tangshan Iron & Steel Group (Tangsteel), in a transaction which is the largest structured commodity finance deal in the country to date.

Commodity trade

Gunvor finally closes oversubscribed global RCF

Jonathan Bell

4 December 2014

Gunvor Group has finally closed a $1.09 billion revolving credit facility (RCF) in favour of Gunvor International and Gunvor SA acting as the borrowers. The facility was originally launched back in October and as such has been a considerable time in the market. However, the range and geographical mix of banks taking part in the facility is particularly impressive. Overall, some 31 banks are involved.

Commodity trade

Louis Dreyfus appoints new CEO

Dalia Gebrial

1 December 2014

The global merchandiser of commodities, Louis Dreyfus Commodities (Louis Dreyfus), has appointed Mayo Schmidt as its new CEO. The decision will take effect from 5 January 2015.

Commodity trade

Serbian and Slovenian fruit producers to benefit from EBRD funding

Jonathan Bell

1 December 2014

Serbian and Slovenian fruit producers are set to benefit with new funding from the European Bank for Reconstruction and Development (EBRD).

Commodity trade

Senate grills US banks over commodities manipulation

Hesham Zakai

27 November 2014

US banks Goldman Sachs, Morgan Stanley and JP Morgan have come under heavy criticism from the US Senate over their influence on key commodities such as aluminium and oil.

Commodity trade

Glencore extends and increases loan facilities with DRC’s Katanga

Jonathan Bell

26 November 2014

Commodity trading company Glencore has extended and increased its loan facilities with Katanga Mining (Katanga) in the Democratic Republic of Congo (DRC).

Commodity trade

Rabobank appoints new head of TCF

Dalia Gebrial

25 November 2014

Dutch multinational, Rabobank, has appointed Jasper van Schaik as its new global head of trade and commodity finance (TCF).

Commodity Trade

SBI clarifies proposed loan with Adani Group

Jonathan Bell

24 November 2014

Following a range of criticism directed at the State Bank of India (SBI), the bank has defended its position on the signing of a memorandum of understanding (MoU) with Adani Mining, and the proposed loan associated with that agreement.

Commodity trade

Bank Leumi UK appoints Michael Rolfe as head of commodity finance

Jonathan Bell

24 November 2014

Bank Leumi (UK) has appointed Michael Rolfe as its new head of commodity finance.

Commodity Trade

Ukraine’s Nibulon secures two new loans

Jonathan Bell

21 November 2014

In entirely separate transactions, Ukraine’s leading grain producer, logistic operator and exporter, Nibulon, has secured two new loans – from both international commercial bank sources as well as development bank funds.

Commodity trade

ITFC signs murabaha financing with Tunisia’s STIR

Jonathan Bell

20 November 2014

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) group, has signed Murabaha financing facilities with Tunisia to facilitate the import of petroleum products into Tunisia.

Commodity trade

Olam mandates banks and secures new multi-tranche RCF

Jonathan Bell

20 November 2014

Singapore-headquartered, Olam International - a leading agri-business operating across the value chain in 65 countries - has mandated arranging banks and secured revolving credit and term loan facilities aggregating $2.475 billion.

Commodity trade

TXF Deals of the Year 2014: The Perfect10

Jonathan Bell

19 November 2014

TXF is now taking submissions for deals of the year in 2014. The deadline is 19th January so start submitting now

Commodity trade

US Ex-Im signs MoU to support clean energy exports to India

Dalia Gebrial

19 November 2014

The Export-Import Bank of the United States (US Ex-Im), has signed a memorandum of understanding (MoU) with chairman KS Popli of the Indian Renewable Energy Development Agency (IREDA), which will explore options for using up to $1 billion to finance the sale of US clean energy exports to India.

Commodity Trade