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Jordan’s HBTF secures loan from Kexim
Jordan’s HBTF secures loan from Kexim
Hesham Zakai
10 January 2014

Jordan’s second largest commercial bank, the Housing Bank for Trade and Finance (HBTF), has secured a $50 million loan from the Export-Import Bank of Korea (Kexim).

ING closes debut loan financing for Mongolian Airlines
ING closes debut loan financing for Mongolian Airlines
Jonathan Bell
9 January 2014

The New York office of ING Capital has closed a US Export-Import Bank (US Ex-IM) backed and junior loan financing for MIAT Mongolian Airlines> The proceeds will refinance a new Boeing 767-300ER aircraft

Sovcomflot secures finance for LNG carriers
Sovcomflot secures finance for LNG carriers
Jonathan Bell
8 January 2014

Russian shipping company Sovcomflot (SCF Group) has signed a new $316 million credit facility for the purchase of two new ice-class LNG (liquefied natural gas) carriers. The vessels - LNG carriers Velikiy Novgorod and Pskov - will operate on long-term contracts with Gazprom Global LNG.

KfW finances aircraft for Nordic Aviation
KfW finances aircraft for Nordic Aviation
Hesham Zakai
7 January 2014

KfW IPEX-Bank has closed the first two transactions under a new three aircraft bilateral financing facility for Nordic Aviation Capital (NAC).

Korean agencies combine with GIEK for North Sea FPSO
Korean agencies combine with GIEK for North Sea FPSO
Hesham Zakai
7 January 2014

Korean agencies the Export-Import Bank of Korea (Kexim) and K-sure have combined with the Norwegian Guarantee Institute for Export Credits (GIEK) to provide financing for a North Sea Floating Production Storage and Offloading (FPSO) vessel.

Enel signs loan with Citi and EKF for Chilean wind farm
Enel signs loan with Citi and EKF for Chilean wind farm
Jonathan Bell
6 January 2014

Italy’s Enel Green Power (EGP), acting through its subsidiary Enel Green Power International (“EGPI”), has signed a €100 million ($136 million) loan agreement with Citi and the Danish export credit agency EKF

UPDATE: Further detail on Lukoil Bulgarian refinery financing
UPDATE: Further detail on Lukoil Bulgarian refinery financing
Jonathan Bell
3 January 2014

Further to our earlier report on the financing secured for the Lukoil Neftochim Burgas (LNB) in Bulgaria, the financing parties involved have today issued a formal press release, which provides a couple of additional details.

VEB and Natixis fund Sukhoi Superjet exports to Mexico
VEB and Natixis fund Sukhoi Superjet exports to Mexico
Jonathan Bell
24 December 2013

Russia’s Vnesheconombank (VEB) and Natixis of France have led a consortium of international banks in the signing of a credit agreement on extending syndicated loans to fund the supply of Sukhoi Superjet 100 aircraft to Mexico’s second largest carrier Interjet Airlines.

Final investment decision made on Yamal LNG project
Final investment decision made on Yamal LNG project
Jonathan Bell
23 December 2013

Russia’s Novatek and Total have approved a final investment decision (FID) for the Yamal LNG (liquefied natural gas) project, consisting of the development of the South-Tambeyskoye gas condensate field and the construction of a natural gas liquefaction plant on the Yamal Peninsula in Russia.

JP Morgan provides loan to VTB Leasing for mining equipment
JP Morgan provides loan to VTB Leasing for mining equipment
Mayur Pande
23 December 2013

VTB Leasing and JP Morgan Chase Bank. signed a loan agreement to support the sale of US-manufactured P&H mining equipment to Russia. JP Morgan is providing a seven-year, $53 million loan, with VTB Leasing acting as the borrower.

UASC closes landmark ship financing
UASC closes landmark ship financing
Jonathan Bell
20 December 2013

United Arab Shipping Company (UASC) has closed a $1.251 billion multi-tranche syndicated loan facility for the partial financing container ships. The transaction is for seven x 14,000 TEU container ships and five x 18,000 TEU container ships. The facility is part of a larger $1,744 billion debt financing related to UASC’s announced $2.3 billion capital expenditure programme for 17 newbuild container vessels including, in total, 11 x 14,000 TEU and 6 x 18,000 TEU vessels.

Barclays closes financing for Biwater BVI project
Barclays closes financing for Biwater BVI project
Jonathan Bell
20 December 2013

Biwater, the UK-based engineering, water and wastewater company, has secured $43 million in project financing from Barclays to fund the construction of a seawater desalination plant, water storage and wastewater treatment facilities on Tortola, the largest and most populated island of the British Virgin Islands (BVI).

Saudi Arabia’s SEC signs first loans for Jeddah South
Saudi Arabia’s SEC signs first loans for Jeddah South
Jonathan Bell
19 December 2013

Saudi Arabian state-owned Saudi Electricity Company (SEC) has signed the first loans related to the development of the South Jeddah Power Project. The loans, signed in Tokyo amount to $366 million, and are co-financed between the Japan Bank for International Cooperation (JBIC) and commercial banks.

Kazakh railways gets EBRD loan
Kazakh railways gets EBRD loan
Mayur Pande
19 December 2013

The European Bank for Reconstruction and Development (EBRD) is providing (KTZ), the national railways company with a $ 40 million loan.

US Ex-Im approves direct loan for Australia’s Roy Hill Mine
US Ex-Im approves direct loan for Australia’s Roy Hill Mine
Jonathan Bell
19 December 2013

The Export-Import Bank of the United States (US Ex-Im) has given approval for a $694.4 million loan to Roy Hill Holdings of Australia to be used for the purchase of US-manufactured mining and rail equipment from Caterpillar, GE, and Atlas Copco.

Ex-Im Bank arranges Boeing export to Mongolia
Ex-Im Bank arranges Boeing export to Mongolia
Mayur Pande
19 December 2013

The Export-Import Bank of the United States (US Ex-Im) has finalised an agreement with MIAT Mongolian Airlines (MIAT) for the export of a US Boeing 767-300ER aircraft with GE engines to MIAT.

Aureus Mining signs finance facilities for Liberian mine
Aureus Mining signs finance facilities for Liberian mine
Jonathan Bell
17 December 2013

Aureus Mining has signed the $88 million project finance loan facility agreement with the South African banks Nedbank Limited and Rand Merchant Bank (RMB). It has also signed a subordinated loan facility agreement for $12 million with RMB Resources.

US Ex-Im and EGAP combine for GE exports to Israel
US Ex-Im and EGAP combine for GE exports to Israel
Jonathan Bell
17 December 2013

The Export-Import Bank of the United States (US Ex-Im) and the Export Guarantee and Insurance Corporation (EGAP), the export credit agency of the Czech Republic, have pooled resources to back US and Czech power equipment exports to Israel.

Pakistan secures power grid loans from ADB
Pakistan secures power grid loans from ADB
Hesham Zakai
17 December 2013

The Asian Development Bank (ADB) is providing two loans to Pakistan to help deliver reliable, cost-effective electricity to domestic and business consumers.

Poland’s Pawlowo wind farm receives EBRD funding
Poland’s Pawlowo wind farm receives EBRD funding
Mayur Pande
16 December 2013

The European Bank for Reconstruction and Development (EBRD) is supporting phase I of the construction and operation of a wind farm in North West Poland with a loan of up to PLN 301 million ($98.6 million). The investment will support Poland’s efforts to increase its generation of renewable energy.

AES Gener concludes financing for Alto Maipo HEP
AES Gener concludes financing for Alto Maipo HEP
Mayur Pande
16 December 2013

Power company AES Gener, the Chilean subsidiary of US-based AES Corporation, and Chilean copper mining company Antofagasta Minerals (AMSA) have signed the financing agreement for the 531MW Alto Maipo hydro-electric power (HEP) project, east of Santiago in Chile.

EBRD provides loan for Croatian rail upgrade
EBRD provides loan for Croatian rail upgrade
Max Carter
16 December 2013

The European Bank for Reconstruction and Development (EBRD) is providing a €40 million ($54.7 million) loan to Hrvatske Zeljeznice Infrastruktura (HZ Infrastructure), the Croatian national railway infrastructure company, for the acquisition of track maintenance machinery and to support the company’s restructuring programme.

Financing signed for Kuwait’s Az-Zour power project
Financing signed for Kuwait’s Az-Zour power project
Jonathan Bell
13 December 2013

Sumitomo Corporation in collaboration with GDF Suez and Abdullah Hamad Al Sagar & Bros have signed the project financing for the first phase of Kuwait's first independent public-private partnership (IPPP) - the Az-Zour North (AZN1) power and desalination project.

Kexim strikes agreements with French institutions
Kexim strikes agreements with French institutions
Mayur Pande
10 December 2013

The Export-Import Bank of Korea (Kexim) has signed agreements for increased cooperation in third-country projects with three French organisations that occupy key positions in development finance, the oil industry, and commercial banking. The agreements are with development finance institution Proparco, oil major Total, and commercial bank Société Générale CIB (SG CIB).

JB's weekly round-up - 9 December 2013
JB's weekly round-up - 9 December 2013
Jonathan Bell
9 December 2013

tagmydeals is a free of charge, user-generated database covering deals in trade, export and project finance. Following months of consultation with many of you (something we really appreciate), we have built something that the industry will hopefully find new and genuinely useful.

Russian power sector gets EBRD local currency loan
Russian power sector gets EBRD local currency loan
Jonathan Bell
6 December 2013

Russia’ power sector is to get a major boost with a 12-year, €100 million ($136 million) loan from the European Bank for Reconstruction and Development (EBRD)to assist with the modernisation of the power infrastructure in the Russian Far East. The borrower of record is RusHydro. The loan is the bank’s first power distribution project in its largest country of operation.

DEG provides loan for Chile solar power project
DEG provides loan for Chile solar power project
Hesham Zakai
6 December 2013

The German development bank – Deutsche Investitions- und Entwicklungsgesellschaft (DEG) – will contribute $18.5 million as part of a loan package to finance the expansion of the La Huayca solar plant in Chile.

US Ex-Im provides direct loan for Turkish Star refinery
US Ex-Im provides direct loan for Turkish Star refinery
Jonathan Bell
5 December 2013

The Export-Import Bank of the United States (US Ex-Im) has come up with one of its largest direct loans to date under its direct lending programme – a $640.7 million direct loan to support the sale of US-manufactured oil refinery equipment to Turkey.

GE Hungary exports to Russia get Sberbank and Mehib backing
GE Hungary exports to Russia get Sberbank and Mehib backing
Jonathan Bell
4 December 2013

Russia’s Sberbank has signed its first export credit transaction with the Export-Import Bank of Hungary (Hungarian Exim), allowing for the export of Hungarian-manufactured equipment to Russia

EIB provides loan to Enel for Romanian wind power
EIB provides loan to Enel for Romanian wind power
Mayur Pande
2 December 2013

The European Investment Bank (EIB) and Enel Green Power International, the financial and controlling holding company of international subsidiaries of the Enel Green Power Group, have closed a financing agreement for €200 million ($272 million) to partially cover investments for wind farms in the Banat and Dobrogea regions of Romania.

ACWA Power signs financing for Rabigh 2 project
ACWA Power signs financing for Rabigh 2 project
Jonathan Bell
2 December 2013

A consortium led by ACWA Power International has signed the financing agreements for the 2060MW Rabigh 2 independent power project (R2IPP) power project in Saudi Arabia.

Indonesia’s Pelindo gets financing for Konecrane imports
Indonesia’s Pelindo gets financing for Konecrane imports
Jonathan Bell
29 November 2013

Indonesian state-owned port operator PT Pelabuhan Indonesia III (Pelindo III) has secured export credit agency-backed financing for the purchase of shipyard cranes from Konecranes of Finland.

Agencies back Jordanian Tafila wind farm project
Agencies back Jordanian Tafila wind farm project
Jonathan Bell
29 November 2013

Development finance institutions (DFIs) have teamed to provide financing support amounting to $220 million for the first large-scale renewable energy IPP in Jordan, the JWPC Tafila Wind Farm.

StanChart arranges loan for Chinese wastewater plant
StanChart arranges loan for Chinese wastewater plant
Jonathan Bell
28 November 2013

Standard Chartered (StanChart) has structured and closed a S$45 million ($35.8 million) senior debt facility for United Envirotech Water (Changyi) Company (UE Water) to be used for a Chinese wastewater treatment plant. The offshore loan structure enable

Russia’s Inter RAO gets power loan from EBRD
Russia’s Inter RAO gets power loan from EBRD
Jonathan Bell
28 November 2013

Russia’s Inter RAO group is to receive funds from the European Bank for Reconstruction and Development (EBRD) to construct a gas-fired power station in Russia’s Sverdlovsk region, as part of a plan to help facilitate the switch away from using carbon fuels to generate electricity.

US Ex-Im provides direct loan for Costa Rican wind project
US Ex-Im provides direct loan for Costa Rican wind project
Jonathan Bell
27 November 2013

The Export-Import Bank of the United States (Ex-Im Bank) has approved a $61.1 million direct loan to Inversiones Eolicas de Orosi Dos (Orosi) to support the export of US-manufactured wind turbine generators to Costa Rica.

EBRD finances trolleybuses for Kyrgyz capital
EBRD finances trolleybuses for Kyrgyz capital
Mayur Pande
27 November 2013

The European Bank for Reconstruction and Development (EBRD) is supporting the revival of the Kyrgyz capital’s trolleybus service with the arranging of a financing programme.

Chilean Antucoya copper mine financing revealed
Chilean Antucoya copper mine financing revealed
Jonathan Bell
25 November 2013

Full details of the Chilean Antucoya copper mine financing have been revealed with commercial banks declaring their takes in the $650 million project financing.

ECA-backed aircraft finance expected to decline
ECA-backed aircraft finance expected to decline
Dick Forsberg
20 November 2013

The aviation industry will take delivery of $3.5 trillion of new commercial jets aircraft over the next 20 years, with an average of $125 billion of funding required over the next decade alone.

Local content and direct lending dominate discussions in Paris
Local content and direct lending dominate discussions in Paris
Valerie Colville
19 November 2013

The differences between export credit agencies was a prevailing topic of conversation at the TXF ECA Finance conference in Paris

JB's weekly round-up - 18 November 2013
JB's weekly round-up - 18 November 2013
Jonathan Bell
18 November 2013

Last week was an extremely busy time for everybody at TXF as we uprooted ourselves from London to deliver our ECA Finance in 2013 Conference Paris.

Wells Fargo and US Ex-Im combine to finance US exports to Singapore
Wells Fargo and US Ex-Im combine to finance US exports to Singapore
Mayur Pande
14 November 2013

Wells Fargo and the Export-Import Bank of the United States (US Ex-Im) have combined to arrange financing to support US exports of compressor equipment to Singapore. The export sale is worth approximately $7 million.

Deutsche arranges EKN-backed loan for Korea’s SK Telecom
Deutsche arranges EKN-backed loan for Korea’s SK Telecom
Jonathan Bell
14 November 2013

Deutsche Bank has signed a $97.92 million term loan facility with South Korea’s SK Telecom Company (SKT) to finance purchases by SKT from Sweden’s Ericsson-LG.

Sberbank and Kexim renew cooperation pact
Sberbank and Kexim renew cooperation pact
Mayur Pande
13 November 2013

Russia’s Sberbank and the Export-Import Bank of Korea (Kexim) have signed a new cooperation agreement relating to the long-term Financing of projects for the amount of $1.5 billion. The agreement was signed by Yong Hwan Kim, chairman of Kexim, and Andrey Ivanov, head of trade finance and correspondent relations at Sberbank.

“There is open competition between the ECAs” - Simon Sayer video
“There is open competition between the ECAs” - Simon Sayer video
Dan Sheriff
12 November 2013

TXF caught up with Simon Sayer, managing director, structured trade and export finance, EMEA at Deutsche Bank at our recent ECA Finance conference in Paris.

“We are seeing pricing that works for investors” - Alex Taylor video
“We are seeing pricing that works for investors” - Alex Taylor video
Dan Sheriff
12 November 2013

We spoke to Alex Taylor, managing director, export and agency finance, EMEA, at Citi, at TXF’s recent ECA Finance Conference in Paris.

“More ECAs should put more effort into supporting SMEs” - Gert Van Melkebeke video
“More ECAs should put more effort into supporting SMEs” - Gert Van Melkebeke video
Dan Sheriff
12 November 2013

Gert Van Melkebeke of Belgian ECA Ducroire, tells TXF of the new forfaiting product they have developed, and how SMEs are using it.

IADB signs loans for Suriname’s electricity sector
IADB signs loans for Suriname’s electricity sector
Mayur Pande
7 November 2013

The Inter-American Development Bank (IADB) has sign two loans totalling $40 million to support Suriname’s electricity generation and power sector. The loans have been approved under the Flexible Financing Facility of the IADB

Sace and UniCredit combine for Bosnian silicon plant
Sace and UniCredit combine for Bosnian silicon plant
Jonathan Bell
7 November 2013

UniCredit has signed a €30 million ($40.2 million) structured financing with Italian metals producer Metalleghe Group for a new silicon metal production plant in Bosnia- Herzegovina.

KfW finances exports to Indian petrochem sector
KfW finances exports to Indian petrochem sector
Mayur Pande
31 October 2013

KfW IPEX-Bank is providing a €55 million ($75 million) loan to finance German equipment supplies for the expansion of the petrochemical complex of Gail India Limited (GAIL) in Pata (Uttar Pradesh).