TXF Political Risk & Trade Credit Insurance 2019
Join the movers and shakers of the political risk and trade credit insurance market for a day of networking, education and collaborative discussion
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 Group has signed a major syndicated pre-export financing (PXF) arrangement with an international bank group.
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
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.
The Senegalese agri-sector is set for a boost with new funding announced today by the African Export-Import bank (Afreximbank).
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 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.
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 is seeking immediate repayment of a major US dollar-denominated loan to Ukrainian fertiliser producer Ostchem Holdings.
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.
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.
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 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.
Serbian and Slovenian fruit producers are set to benefit with new funding from the European Bank for Reconstruction and Development (EBRD).
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 trading company Glencore has extended and increased its loan facilities with Katanga Mining (Katanga) in the Democratic Republic of Congo (DRC).
Bank Leumi (UK) has appointed Michael Rolfe as its new head of commodity finance.
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.
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.
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.
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.
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.
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.
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).
Swiss-headquartered commodity trader Gunvor has renewed and increased a reserve base lending (RBL) facility for one of its European oil refineries.
OW Bunker, the Danish-owned, largest global independent marine fuel (bunker) company, has become bankrupt. The news has alarmed banks and traders alike.
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.
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 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.
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, 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.
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.