TXF Americas 2020
The fun in the sun returns! Bringing all key players together for two days of networking, we explore case studies of the latest deals and examine the next hot opportunities across the region.
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.
Ukrainian agribusiness company Kernel Group (Kernel) has gained a $50 million loan from the European Bank for Reconstruction and Development (EBRD).
Asia-based commodity trading company Noble Group has announced that it has received settlement of its 51% sale of shares in Noble Agri to the Chinese grain trading company China National Cereals, Oils and Foodstuffs Corporation (Cofco), as well as full repayment of a shareholder loan made to Noble Agri. In total, on 15 October Noble Group has received $3.36 billion due to it.
International Finance Corporation (IFC) has subscribed to $50 million of notes in the inaugural bond issuances by Nigeria’s Seven Energy International, one of the few companies developing and commercialising stranded gas that is critical for expanding Nigeria's power generation. Seven Energy is Nigeria’s first unlisted oil and gas company to tap the international capital markets.
Toronto-listed, Lundin Mining has struck an agreement with Freeport-McMoRan to purchase Freeport’s 80% ownership stake in the Candelaria/Ojos del Salado copper mining operations and supporting infrastructure in Chile. Lundin has agreed to pay a cash consideration of $1.8 billion.
Alexey Miller CEO and chairman of Gazprom addressed delegates about global gas industry outlooks and problems at the 4th St. Petersburg International Gas Forum held 7-10 October. Below are some excerpts from his address.
The International Finance Corporation (IFC) and Cargill are investing $2.5 million to strengthen and expand the successful Cargill Coop Academy in Cote d’Ivoire. The funds will provide greater access to advanced business skills training for over 300 cocoa cooperative leaders.
With Gazprom Neft impacted by US and EU sanctions, the oil company is having to dig deep with Russian banks for substantial working capital and investment funds.
Trafigura AG, a wholly-owned subsidiary of Trafigura Beheer BV (Trafigura), has renewed its United States borrowing base credit facility, and extended the maturity to two years.
Mercuria Energy has today successfully completed the acquisition of parts of JP Morgan Chase’s physical commodities business. This follows the initial signing of the definitive purchase and sale agreement in March 2014 (TXF News 19 March 2014).
Commodity trading company Trafigura has closed its new Asian centric revolving credit (RCF) and term loan facilities at $1.73 billion
Eastern and Southern African Trade and Development Bank (PTA Bank), today announced that it signed a Memorandum of Understanding (MoU) with Deutsche Bank to establish an export credit guarantee programme.
China’s State Administration of Foreign Exchange (SAFE) believes that it has uncovered a total of $10 billion worth of fraudulent trade finance and commodity transactions as part of its continuing investigation into corporate activity. This investigation includes many commodity irregularities in the Chinese ports of Qingdao Penglai.
The Estonian oil shale processing company Viru Keemia Grupp (VKG) has obtained a €35 million loan from the European Bank for Reconstruction and Development (EBRD), to finance an environmental upgrade and energy efficiency improvements for its operations.
Canada’s export credit agency, Export Development Canada (EDC), has signed a $50 million financing for Philippines-based San Miguel Corporation (SMC). EDC’s financing will be leveraged to create opportunities for Canadian companies, particularly small- and-medium-sized enterprises (SMEs), throughout South-East Asia.
Houston-headquartered, crude oil development company, CAMAC Energy has entered into a new medium-term credit facility for the further development of its offshore licences in Nigeria.
A new wave of coordinated sanctions, announced by the EU and the US today will target the biggest players in Russia’s vital energy and banking sectors. These latest changes constitute a considerable broadening of previously implemented sanctions, which only banned the export of high technology oil equipment into Russia.
The signing for the Ghana Cocoa Board (Cocobod) annual pre export finance (PXF) facility has taken place with the marketing agency securing $1.7 billion for the Ghanaian cocoa crop 2014-2015 season.
Mining company Golden Star Resources has signed a new loan to develop a potential underground gold deposit at Wassa in Ghana.
Oman Oil Company (OOC), the Sultanate’s energy investment arm, has signed a revolving credit facility (RCF) agreement totalling $1.85 billion with 16 local, regional and international banks.
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