Search results

Show:
Results found: 4794
Noble Corporation secures credit facility
Noble Corporation secures credit facility
Jonathan Bell
22 August 2013

Offshore drilling contractor Noble Corporation has signed a $600 million unsecured revolving credit agreement with a syndicate of banks. Noble Cayman is the borrower of record under the terms of the $600 million, one-year facility, which allows for up to $50 million to be available for swingline loans.

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.

Globe Specialty Metals enhances flexibility with refinancing
Globe Specialty Metals enhances flexibility with refinancing
Jonathan Bell
20 August 2013

US-headquartered Globe Specialty Metals has refinanced its existing $300 million credit facility with a syndicate of banks led by Providence-based RBS Citizens Bank, and co-led by PNC Bank and Wells Fargo Bank, as joint bookrunning mandated lead arrangers. : BBVA Compass joined as an MLA

Essar Steel seeks dollarisation of debt
Essar Steel seeks dollarisation of debt
Dan Sheriff
16 August 2013

India’s Essar Steel is looking to the trade finance and syndicated loan market to convert much of its existing debt to dollars. The company is hoping that pre-export finance loans will be able to be used for this purpose.

Trafigura closes North American revolver oversubscribed
Trafigura closes North American revolver oversubscribed
Jonathan Bell
16 August 2013

Commodity trading company Trafigura AG has closed its North American secured syndicated revolving credit facility (RCF) at $1.385 billion following strong demand. Trafigura AG is a wholly-owned subsidiary of Trafigura Beheer BV.

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.

Braskem signs trade credit facility
Braskem signs trade credit facility
Katy Rose
8 August 2013

Brazilian petrochemical products company Braskem has signed a $535 syndicated trade credit loan with a group of banks.

Metinvest appoints a new CFO
Metinvest appoints a new CFO
Jonathan Bell
2 August 2013

Russian steel producer and mining group Metinvest has appointed Aleksey Kutepov as its new chief financial officer (CFO). As CFO he replaces Sergiy Novikov, who will continue to work within the Metinvest Group. Novikov has been CFO since Metinvest was founded in 2006. He built the financial processes inside the group, oversaw the group’s debut Eurobond issue, and supported a number of M&A transactions

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.

Gunvor’s Middle East borrowing base oversubscribed
Gunvor’s Middle East borrowing base oversubscribed
Dan Sheriff
1 August 2013

Energy trading company Gunvor Group - comprising Gunvor SA, Gunvor Middle East DMCC and Gunvor Singapore - has signed $400 million secured uncommitted borrowing base facilities. The facilities initially launched at $300 million and as such were significantly oversubscribed. After scaling back, Gunvor elected to take $400 million.

Borrowing base facility secured for Gunvor’s German refiner
Borrowing base facility secured for Gunvor’s German refiner
Jonathan Bell
1 August 2013

Energy trader Gunvor has signed a new $500 million borrowing base, revolving credit facility to finance the working capital needs of the company’s refinery in Ingolstadt, Germany.

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.

Concord Energy secures revolving credit
Concord Energy secures revolving credit
Jonathan Bell
30 July 2013

Colorado, US-headquartered oilfield services company Concord Energy Holdings has signed a new $180 million, one-year revolving credit facility. The funds will be used to amend and extend an existing $235 million facility signed in August 2012.

JP Morgan looks set to exit physical commodities
JP Morgan looks set to exit physical commodities
Dan Sheriff
28 July 2013

JP Morgan looks set to exit from trading in physical commodities – its oil, gas, power and metals trading divisions. The move comes following an announcement by the bank that it is pursuing strategic alternatives, including the sale, spinoff, or strategic partnership of its commodities business, after an internal review.

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.

Endeavour Mining increases and extends debt facility
Endeavour Mining increases and extends debt facility
Mayur Pande
24 July 2013

Canadian-headquartered Endeavour Mining Corporation (Endeavour) has signed a new agreement increasing its revolving corporate loan facility from $200 million to $350 million, with the term extended to five years.

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.

FX Energy closes new senior credit facility
FX Energy closes new senior credit facility
Mayur Pande
15 July 2013

FX Energy has finalised a new five-year, up to $100 million senior reserve based lending facility. BNP Paribas (BNPP) acted as coordinating mandated lead arranger. ING Bank, present in FX Energy’s previous syndicated financing, acted as mandated lead arranger.

BofAML names EMEA head of GTS
BofAML names EMEA head of GTS
Mayur Pande
2 July 2013

Bank of America Merrill Lynch (BofAML) has named Jennifer Boussuge as head of global transaction services (GTS) for EMEA (Europe, Middle East, Africa). This is an internal appointment with Boussuge having worked for the bank for the past 19 years – most recently as head of global sales, GTS.

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.

Shoreline Natural Resources secures RBL financing
Shoreline Natural Resources secures RBL financing
Jonathan Bell
2 July 2013

Oil producer Shoreline Natural Resources (Shoreline) in Nigeria has secured a refinancing facility which gives it better terms, structure and a longer tenor over an existing bridge loan facility. The refinancing is structured as a five-year $500 million senior secured revolving reserves based lending (RBL) facility. The new facility can be increased up to $600 million.

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.

Chilean pulp producer signs trade loan
Chilean pulp producer signs trade loan
Dan Sheriff
27 June 2013

Celulosa Arauco y Constitucion, the Chilean wood pulp and forestry products company has signed a medium-term loan with direct support from Export Development Canada (EDC).

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.

Nidera signs annual revolver
Nidera signs annual revolver
Mayur Pande
25 June 2013

Grain trading company Nidera has signed its annual revolving credit facility, which saw strong interest from relationship banks. The Rotterdam, Netherlands-headquartered agri trader finalised the facility at $800 million. The loan has an 18-month tenor. The funds will be used for general working capital trade-related purposes.

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).

Trafigura signs pre-payment contract with Rosneft
Trafigura signs pre-payment contract with Rosneft
Jonathan Bell
21 June 2013

At the St Petersburg International Economic Forum in mid-June, commodity trading company Trafigura signed a five year contract with a pre-payment to supply crude oil and petroleum products with Russian oil company Rosneft.

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.

Norilsk Nickel gets strong response for syndicated loan
Norilsk Nickel gets strong response for syndicated loan
Jonathan Bell
13 June 2013

Russia’s Norilsk Nickel, and the world’s largest global nickel and palladium producer, has successfully signed a five-year unsecured syndicated loan with a principal amount of $2.1 billion.

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.

Vitol Asia signs revolving credit
Vitol Asia signs revolving credit
Jonathan Bell
11 June 2013

Energy trading company Vitol Asia signed its Asia-Pacific-focused one-year revolving credit facility (RCF) in early June.

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

Armajaro Trading RCF oversubscribed
Armajaro Trading RCF oversubscribed
Dan Sheriff
5 June 2013

UK-headquartered soft commodity trading company Armajaro Trading has signed a $117.5 million-equivalent revolving credit facility (RCF).The facility has a one-year tenor and an option to extend by one-year.

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

Trafigura appoints head of structured trade finance
Trafigura appoints head of structured trade finance
Dan Sheriff
1 June 2013

Trafigura has appointed Stephan Jansma as its group head of structured and trade finance. For the past 15 years Jansma has focused on commodity finance activities in wholesale banking.