Novex Trading closes €250 million RCF
The trade and commodity finance community has its say on the biggest issues in the market in our annual audience survey at TXF's Trade, Treasury and Commodity conference in Singapore.
Israel’s Delek Group overcomes political interference to close its largest upstream bank financing to date.
The implementation date for MiFID II is 3 January 2018 and firms will be expected to be compliant from that day. Transitional arrangements? There aren’t any...
Mid- and downstream oil company Puma Energy is set reduce the pricing on its one-year RCF following a good set of financial results for 2016.
Fertiliser producer Acron is among at least four Russian borrowers that are already looking to tap the PXF market in 2017. But with a sub-investment grade, Acron is unlikely to benefit from recent PXF margin tightening.
Metalloinvest has followed SUEK back into the PXF market and launched a major new borrowing to international lenders. But with Rusal also rumoured to be looking for a new PXF, timing on all three Russian deals will be critical to getting the best pricing.
Beleaguered commodity trader Noble is out to syndication with a new borrowing base facility. The Hong Kong-based company has undertaken asset sales and a rights issue as it looks to regain its investment grade status.
When agri commodities trader Transmar - a top ten global supplier of cocoa beans - filed for Chapter 11 bankruptcy at the end of 2016 there were fears of an impact on lender appetite for the cocoa market. Despite initial concerns, lenders have not been rattled – at least not on pricing.
Privately-owned London-based commodity trader ED&F Man is set to launch its annual RCF on 10 February. According to a number of bankers the deal is expected to be fairly unchanged from last year, although the borrower’s annual results have yet to be made public.
SUEK is back with a new pre-export loan - only its second since 2014 - and bank interest is looking strong. Will SUEK's renewed popularity produce some movement on pricing and a new set of bank relationships?
Even with low oil prices, North Sea reserves are still changing hands. But sellers and buyers are having to get creative to get banks comfortable and make deals happen.
Fast growing multi-commodity trader MET Group has secured tight pricing on its latest RCF and debuted with an unsecured RCF tranche in a bid to break collateral constraints and fuel its ambitious expansion plans.
Pricing of Rusal's debut eurobond is comparable with the cost of PXF debt given rising Libor rates, the longer tenor and the security package - so says Oleg Mukhamedshin, Rusal deputy CEO