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PhosAgro opens trading arm in Singapore
PhosAgro opens trading arm in Singapore
Jonathan Bell
11 October 2013

Russian fertiliser producer PhosAgro has opened a trading arm in Singapore, opening of PhosAgro Asia, which will focus on sales of mineral fertilisers to countries in Asia and Africa, as well as Australia and New Zealand.

Banks arrange pre-payment for Trafigura’s Rosneft deal
Banks arrange pre-payment for Trafigura’s Rosneft deal
Jonathan Bell
4 October 2013

A bank syndicate has arranged a $1.5 billion pre-payment facility for trading company Trafigura, to be used for oil purchases in Russia. Trafigura will use the proceeds of the loan to make pre-payments to Russian state-owned oil company Rosneft

Russian Copper Company launches PXF
Russian Copper Company launches PXF
Jonathan Bell
3 October 2013

Russkaya Mednaya Kompaniya (Russia Copper Company – RCC) has launched a pre-export finance (PXF) facility of up to $250 million.

Ecom Agroindustrial signs revolver
Ecom Agroindustrial signs revolver
Jonathan Bell
3 October 2013

Swiss-headquartered agri-trading company Ecom Agroindustrial has signed its latest revolving credit facility (RCF), originally launched in August (TXF News 12 August).

Rusal appoints new CFO and reorganizes finance office
Rusal appoints new CFO and reorganizes finance office
Jonathan Bell
2 October 2013

Russian aluminium producer Rusal has made changes in its finance directorate and appointed a new chief financial officer (CFO).

Brazil secures US Ex-Im support for agribusiness aircraft
Brazil secures US Ex-Im support for agribusiness aircraft
Phoebe Robertson
1 October 2013

The Export-Import Bank of the United States (US Ex-Im) is supporting the purchase of two American-manufactured agricultural aircraft by a Brazilian soybean and agribusiness, Jose Antonio Goncalves Viana (JAGV). The agribusiness will buy the aircraft from Air Tractor of Olney, Texas. The amount of the deal was not disclosed but is said to be a seven figure sum.

SG leads Ecom Agro Nicaragua financing
SG leads Ecom Agro Nicaragua financing
Jonathan Bell
26 September 2013

Société Générale CIB (SG CIB) has led a group of banks in the arranging of a revolving credit facility for Exportadora Atlantic in Nicaragua. The $130 million loan will be used for working capital purposes.

Wilmar secures oversubscribed loan facility
Wilmar secures oversubscribed loan facility
Mayur Pande
25 September 2013

Singapore-headquartered, agribusiness group Wilmar International has signed a $2.065 billion term loan facility with a syndicate of international banks. The facility was heavily oversubscribed.

Essar Energy secures new corporate loan
Essar Energy secures new corporate loan
Mayur Pande
24 September 2013

Essar Energy, the India-focused integrated energy company, has secured a new $300 million corporate loan facility from the Export-Import Bank of China (China Exim). The facility has a tenor of four years.

Gunvor closes financing for flagship Russian oil terminal
Gunvor closes financing for flagship Russian oil terminal
Jonathan Bell
23 September 2013

Energy trading company Gunvor has closed the $675 million long-term secured financing facility for the company’s flagship investment - the Ust Luga Oil Products Terminal in Russia. Jacques Erni, Gunvor’s chief financial officer, says: “We are very pleased with the outcome of the facilit

Ukraine’s DTEK secures debut PXF financing facilities
Ukraine’s DTEK secures debut PXF financing facilities
Jonathan Bell
18 September 2013

The Ukrainian integrated energy company DTEK has signed its debut pre-export financing (PXF) facility with VTB Capital. In a diversification of funding sources, the company has also signed a similar PXF agreement with a group of Western banks.

China Gas signs credit facility with EDC
China Gas signs credit facility with EDC
Jonathan Bell
30 August 2013

China’s leading piped-gas operator, China Gas Holdings (China Gas) has signed a $250 million credit facility with Export Development Canada (EDC). The loan has a four-year tenor and carries an interest rate of three-month Libor plus 225 basis points (bp).

Mexico’s Pemex and US Ex-Im employ capital market tools
Mexico’s Pemex and US Ex-Im employ capital market tools
Mayur Pande
29 August 2013

The Export-Import Bank of the United States (US Ex-Im) has authorized $1.5 billion of export financing for two transactions supporting the export of US goods and services to Petroleos Mexicanos (Pemex), Mexico's national oil and gas company. For the second time, Pemex will issue US Ex-Im-guaranteed bonds

BNPP in landmark securitisation of commodity receivables
BNPP in landmark securitisation of commodity receivables
Jonathan Bell
27 August 2013

BNP Paribas (BNPP) has completed a securitisation of commodity trade finance loan receivables, in a $131.6 million transaction through the special platform Lighthouse Trade Finance Issuer. The transaction is a first of its kind in the trade market where the debt issuance is backed by commodity loan receivables, and as such opens up a new funding route for commodity trade finance.

UBS selects MIT's TRAC to support its commodity trade finance business
UBS selects MIT's TRAC to support its commodity trade finance business
Jonathan Bell
26 August 2013

Swiss banking group UBS has selected TRAC (Trade Risk Active Control) – developed by software company MIT – to support its fast growing commodity trade finance (CTF) business. The bank is understood to have chosen this particular software system after considering several other options.

Australia’s Origin secures mega syndicated loan
Australia’s Origin secures mega syndicated loan
Dan Sheriff
22 August 2013

Australia’s Origin Energy (Origin) has successfully secured and signed a $7.4 billion bank loan facility with a syndicate of domestic and international banks. The facility has terms of four and five years and will mature in August 2017 and August 2018. Pricing and fee details

India’s Bhushan gets KfW loan
India’s Bhushan gets KfW loan
Dan Sheriff
21 August 2013

KfW IPEX-Bank has arranged a €170 million ($227.5 million) loan for the Indian steel manufacturer Bhushan Power & Steel Limited (BPSL). The financing will be used for the Bhushan - Phase VI project at the company’s plant in Orissa. The funds will finance equipment and supplies from companies in Germany, Luxembourg and Italy.

Ecom Agroindustrial launches European revolver
Ecom Agroindustrial launches European revolver
Mayur Pande
12 August 2013

Swiss-headquartered agri-commodity trading company Ecom Agroindustrial Corporation has launched its European-focused revolving credit facility (RCF).

EBRD loan for Kazakh food producer
EBRD loan for Kazakh food producer
Jonathan Bell
9 August 2013

The European Bank for Reconstruction and Development (EBRD) is providing a $25 million loan to RG Brands, a food and beverage producer in Kazakhstan. The loan, which is available both in tenge and US dollars will support the company’s growing working capital needs to purchase raw materials and expand its presence in Kazakhstan and neighbouring countries.

Brazil’s Raizen signs PXF facility
Brazil’s Raizen signs PXF facility
Katy Rose
8 August 2013

Brazilian sugar and ethanol producer Raizen Energia has signed a $100 million pre-export finance (PXF) facility. The proceeds of the loan will be used to finance the advance payment for future exports of sugar.

Rio Tinto agrees to provide bridge finance to Oyu Tolgoi
Rio Tinto agrees to provide bridge finance to Oyu Tolgoi
Dan Sheriff
8 August 2013

Rio Tinto and Turquoise Hill Resources (Turquoise Hill) have signed an agreement under which Rio Tinto will provide Turquoise Hill with a financing package to enable it to fund the continuing development of the Oyu Tolgoi mine in Mongolia and, if necessary, to refinance its existing indebtedness to Rio Tinto by the end of the year.

Noble secures LC and guarantee facility
Noble secures LC and guarantee facility
Mayur Pande
2 August 2013

Hong Kong-headquartered commodity and logistics company Noble Group has concluded a $505 million, two-year committed revolving letter of credit and guarantee facility with a 10-strong bank syndicate.

Banks jump on Cocobod annual PXF bandwagon
Banks jump on Cocobod annual PXF bandwagon
Dan Sheriff
1 August 2013

Banks have come in strongly into the syndication for the annual Ghana Cocoa Board (Cocobod) pre-export finance (PXF) facility over the last couple of weeks – so much so that it has been oversubscribed by 75%. The funds will pre-finance cocoa bean purchases for the 2013-2014 crop. Given the length of the crop cycle, the deal should be seen as a seven to nine month transaction – as opposed to a full year.

Ocean Partners signs debut syndicated loan
Ocean Partners signs debut syndicated loan
Dan Sheriff
1 August 2013

UK-headquartered metals trading company Ocean Partners has signed a $160 million loan, in what is the company’s first foray into the syndicated loan market. The funds will be used to support the purchase, storage, blending, sale and related margin financing of metal concentrates as well as to refinance existing debt. The financing fully covers the company’s blending and trading activities in Taiwan.

ABN AMRO completes purchase of Brazil’s BancoCR2
ABN AMRO completes purchase of Brazil’s BancoCR2
Mayur Pande
1 August 2013

ABN AMRO has completed the purchase of the small privately owned commercial Brazilian bank Banco CR2. The purchase is significant for ABN and the market as it gives the Dutch bank an onshore operating base in the country for its commodity financing activities.

Colonial Oil renews RCF
Colonial Oil renews RCF
Jonathan Bell
27 July 2013

The facility signed amounts to $600 million, and carries a tenor of one-year. This new arrangement amends an existing $1.15 billion facility signed in second quarter 2012.

Trafigura launches Asian revolver
Trafigura launches Asian revolver
Mayur Pande
24 July 2013

Commodity trading company Trafigura has launched a new $1.2 billion, one-year revolving credit facility into syndication. The loan is Asia-Pacific focused. The loan will refinance an existing $1.025 billion credit facility signed on 9 October 2012, and a $229 million term loan signed in October 2010.

Gunvor looks to develop West African oil hub
Gunvor looks to develop West African oil hub
Dan Sheriff
20 July 2013

Swiss-headquartered energy trading company Gunvor has signed a deal with the government of Gabon to create a joint venture to sell and distribute refined petroleum products in West Africa.

Mercuria RCF heavily oversubscribed
Mercuria RCF heavily oversubscribed
Mayur Pande
2 July 2013

Swiss-headquartered Mercuria Energy Trading has signed its latest revolving credit facilities totalling $1.8 billion. The transaction was signed on 1 July, 2013.

BB Energy finds loan success
BB Energy finds loan success
Jonathan Bell
1 July 2013

The Netherlands-based arm of energy trading company BB Energy has secured a revolving credit facility (RCF) arranged by relationship banks. The $125 million, one-year facility is believed to be the first financing of this kind for the company.

StanChart and FMO sign loan for Aviv Tanzania
StanChart and FMO sign loan for Aviv Tanzania
Mayur Pande
26 June 2013

Standard Chartered (StanChart) and the Development Bank of the Netherlands (FMO) have signed a loan agreement to provide agri-producer Aviv Tanzania (ATL) with a $21 million term loan facility.

Olam secures local currency loan through AfDB
Olam secures local currency loan through AfDB
Jonathan Bell
26 June 2013

Agri-commodity producer, processor and trader Olam International has secured a senior loan of $80 million from the African Development Bank (AfDB). The loan., which will be made in local currencies, is for Olam Africa Investment Programme (OAIP) to deepen the integration of Olam group’s agricultural value chain by investments in processing of wheat and palm oil in Africa. The programme includes five sub-projects in Cameroon, Ghana, Mozambique and Senegal.

Castleton Commodities secures revolving credit facility
Castleton Commodities secures revolving credit facility
Mayur Pande
25 June 2013

US-headquartered energy trader Castleton Commodities International (CCI) has secured a $850 million revolving credit facility through a 17-strong bank syndicate. The facility was led by BNP Paribas (BNPP), Credit Agricole CIB, Société Générale CIB (SG CIB), Standard Chartered and The Bank of Tokyo-Mitsubishi UFJ (BTMU) acting as bookrunning mandated lead arrangers.

Vitol and Rosneft sign agreement on LNG sale and purchase
Vitol and Rosneft sign agreement on LNG sale and purchase
Mayur Pande
21 June 2013

Following on from Vitol’s pre-payment financing with Rosneft earlier this year for the supply of crude oil and petroleum product supplies, the trading company and the Russian producer have now agreed heads of terms regarding cooperation in a new sphere – liquefied natural gas (LNG).

Glencore signs mega revolving credit facilities
Glencore signs mega revolving credit facilities
Jonathan Bell
14 June 2013

Glencore Xstrata has signed revolving credit facilities (RCF) amounting to a total of $17.34 billion. The facilities are for general corporate purposes and replace the previous revolving credit facilities of both Glencore and Xstrata. This is the first approach to the bank market for the new combined Glencore Xstrata.

Trafigura closes bond financing for Louisiana terminal
Trafigura closes bond financing for Louisiana terminal
Mayur Pande
13 June 2013

Commodity trading company Trafigura has closed a $200 million long-term bond financing to support further development of its Burnside Terminal in Louisiana, USA.

Puma Energy revolver oversubscribed
Puma Energy revolver oversubscribed
Jonathan Bell
6 June 2013

Puma Energy, the global mid and downstream energy company, has renewed its committed, revolving credit facility (RCF) with a significant oversubscription from the market.

Success for Gunvor Asia with oversubscription
Success for Gunvor Asia with oversubscription
Dan Sheriff
6 June 2013

Gunvor Singapore, a wholly-owned subsidiary of Swiss-headquartered Gunvor Group, has signed a $850 million syndicated revolving credit facility (RCF). The facility, which initially launched at $650 million in early April attracted over $1 billion in commitments, closing almost 60% oversubscribed. Its success represents continued strong interest in, and support for, Gunvor’s growth

Uralkali signs PXF following oversubscription
Uralkali signs PXF following oversubscription
Jonathan Bell
3 June 2013

Russian potash producer Uralkali has signed a $1 billion pre-export finance (PXF) loan agreement with a club of 14 banks. The initial mandated lead arrangers and bookrunners of the PXF facility are Bank of America Merrill Lynch, BNP