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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