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

Dubai Aluminium sees success with syndicated loan
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.

MIGA provides guarantee for agribusiness investment in Zambia
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

Russian fertiliser producer Acron signs five-year PXF deal
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.

Chesapeake Energy closes unsecured RCF
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.

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

GISA Netherlands signs oversubscribed syndicated RCF
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.

Senegal agri-sector receives boost with Afreximbank funding
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).

Enagás renews and extends multi-currency financing facility
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.

VTB provides finance for Armenia’s Teghout copper mine
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.

Mercuria Energy hires former OW Bunker team
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.

Russia’s Alrosa secures funds from VTB and UniCredit
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.

Gazprombank pushes loan repayment from Ukraine’s Ostchem
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.

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

Politics still shaping oil markets
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.

Olam signs five-year loan for Australian agri subsidiaries
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.

Russia’s Polymetal signs credit facility with EDB
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).

Deutsche arranges largest Chinese structured commodity deal to date
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.

Gunvor finally closes oversubscribed global RCF
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.

Louis Dreyfus appoints new CEO
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.

Serbian and Slovenian fruit producers to benefit from EBRD funding
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).

Senate grills US banks over commodities manipulation
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.

Glencore extends and increases loan facilities with DRC’s Katanga
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).

Rabobank appoints new head of TCF
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).

SBI clarifies proposed loan with Adani Group
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.

Bank Leumi UK appoints Michael Rolfe as head of commodity finance
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.

Ukraine’s Nibulon secures two new loans
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.

ITFC signs murabaha financing with Tunisia’s STIR
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.

Olam mandates banks and secures new multi-tranche RCF
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.

TXF Deals of the Year 2014: The Perfect10
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

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

Trafigura first trader to commit to transparency initiative
Trafigura first trader to commit to transparency initiative
Hesham Zakai
19 November 2014

One of the world’s leading commodity trading companies, Trafigura, has committed itself to the Extractive Industries Transparency Initiative (EITI), the leading global standard for improving the transparency of revenues generated from natural resources.

KUFPEC signs $1 billion loan to fund expansion
KUFPEC signs $1 billion loan to fund expansion
Jonathan Bell
19 November 2014

Kuwait Foreign Petroleum Exploration Company (KUFPEC), a wholly-owned subsidiary of Kuwait Petroleum Corporation (KPC), has secured a $1 billion loan from an international bank syndicate. The funds will be used for working capital and to finance the company’s international expansion plans.

SBI signs agreement with Adani Mining for Australian coal project
SBI signs agreement with Adani Mining for Australian coal project
Jonathan Bell
18 November 2014

The State Bank of India (SBI) has signed a memorandum of understanding (MoU) with Adani Mining, the Australian subsidiary of India’s Adani Enterprises for potential financing for the development of a coal mine in Queensland, Australia.

Mercuria signs heavily oversubscribed Asia RCF
Mercuria signs heavily oversubscribed Asia RCF
Dalia Gebrial
18 November 2014

Swiss-headquartered, energy trading company Mercuria Energy has signed a $1 billion Asia-centric revolving credit facility (RCF), with the deal seeing an oversubscription of more than 60% above the initial launch amount.

Mercuria signs heavily oversubscribed Asia RCF
Mercuria signs heavily oversubscribed Asia RCF
Dalia Gebrial
18 November 2014

Swiss-headquartered, energy trading company Mercuria Energy has signed a $1 billion Asia-centric revolving credit facility (RCF), with the deal seeing an oversubscription of more than 60% above the initial launch amount.

ANZ signs MoUs with China Development Bank and Baosteel
ANZ signs MoUs with China Development Bank and Baosteel
Jonathan Bell
17 November 2014

ANZ has signed two memorandums of understanding (MoUs) that will extend its relationship with the China Development Bank (CDB) and could boost available finance for the development of new mineral resources projects. The agreements were signed during China’s President Xi’s visit to Canberra.

Egypt to issue tender for PXF loan to repay oil debts
Egypt to issue tender for PXF loan to repay oil debts
Jonathan Bell
13 November 2014

The Egyptian government has declared that it intends to issue a tender for a pre-export finance (PXF) loan amounting to $2 billion to help finance debt repayments to international oil and gas companies (IOCs).

Essar launches trading office in Geneva
Essar launches trading office in Geneva
Jonathan Bell
12 November 2014

Indian refining and metals corporation, Essar Group, has set up an office in Geneva to trade crude oil, refined petroleum products, coal, iron ore and steel.

ING Bank leads Gunvor RBL facility for Belgian refinery to close
ING Bank leads Gunvor RBL facility for Belgian refinery to close
Jonathan Bell
12 November 2014

Swiss-headquartered commodity trader Gunvor has renewed and increased a reserve base lending (RBL) facility for one of its European oil refineries.

OW Bunker goes bankrupt amid alleged fraud in its Singapore subsidiary
OW Bunker goes bankrupt amid alleged fraud in its Singapore subsidiary
Jonathan Bell
7 November 2014

OW Bunker, the Danish-owned, largest global independent marine fuel (bunker) company, has become bankrupt. The news has alarmed banks and traders alike.

Hungary’s MOL signs major club loan
Hungary’s MOL signs major club loan
Jonathan Bell
6 November 2014

Hungarian-headquartered oil and gas company MOL Group has signed a $1.55 billion club loan. The credit agreement, which MOL says provides them with highly competitive conditions, further enhances the group’s financial profile and liquidity.

Moldova’s Trans-Oil agri-group secures EBRD financing
Moldova’s Trans-Oil agri-group secures EBRD financing
Jonathan Bell
5 November 2014

The European Bank for Reconstruction and Development (EBRD) has signed a $25 million loan for the Trans-Oil Group of companies (Trans-Oil Group), a leading agricultural commodities trader and sunflower oil producer in Moldova.

JB's weekly round up - 04 November 2014
JB's weekly round up - 04 November 2014
Jonathan Bell
4 November 2014

We provide a wealth of information for free on our deals directory, tagmydeals. What we would like you to do is to take ownership of the deals where your institution or company has taken part.

US Ex-Im guarantees loan for transmission towers export to Canada
US Ex-Im guarantees loan for transmission towers export to Canada
Dalia Gebrial
3 November 2014

The US export credit agency (ECA), the Export-Import Bank of the United States (US Ex-Im), has guaranteed a $21 million revolving loan facility by Cadence Bank to Jyoti Americas.

Sberbank provides loan for Kazakhstan’s KazMunayGaz
Sberbank provides loan for Kazakhstan’s KazMunayGaz
Jonathan Bell
30 October 2014

Sberbank CIB, together with its subsidiary bank in Kazakhstan, has arranged financing totalling $400 million for KazMunayGaz – Refinery and Marketing (Kazakhstan). The funds will be used to finance PetroKazakhstan Oil Products’ modernisation project at the Shymkent Oil Refinery in Kazkahstan.

Video: Cross-border receivables financing
Video: Cross-border receivables financing
Dan Sheriff
24 October 2014

Geoffrey Wynne and Tom Glinka deliver the latest in the Sullivan & Worcester series of breakfast briefings in the City of London

Impala Terminals sets up warehousing JV with China’s CITIC
Impala Terminals sets up warehousing JV with China’s CITIC
Jonathan Bell
22 October 2014

CITIC Global Trade Shanghai (CGT), the subsidiary of CITIC Securities, China’s largest investment bank, has signed an agreement with Impala Terminals, the global terminals operator, to create a joint venture warehousing, logistics, freight forwarding and terminals business in China. The venture will work to international standards of security and operating processes.

Noble Group makes senior appointments
Noble Group makes senior appointments
Jonathan Bell
20 October 2014

Noble Group, the Singapore listed commodity merchant, has made a series of internal promotions aimed at enhancing its capability in delivering physical commodities from the producer to the consumer and managing the market, credit and operational risk.

Ecom Agroindustrial closes oversubscribed RCF
Ecom Agroindustrial closes oversubscribed RCF
Jonathan Bell
20 October 2014

Swiss-headquartered, agri-trading and processing company, Ecom Agroindustrial Corporation, has successfully signed and closed a $600 million, multicurrency revolving credit facility (RCF). The RCF met with significant interest in syndication and closed heavily oversubscribed.