TXF Africa 2019
Bringing together the leaders of export, commodity & project finance in the region, we discuss the continent's continual need for infrastructure financing to the latest technologies in the agri world.
The Japan Bank for International Cooperation (JBIC) has signed an agreement with commercial banks to move towards Indonesian rupiah financing for Japanese-affiliated companies operating in Indonesia under the scheme of JBIC guaranteed currency swap transactions.
HSBC Bank has arranged a €500 million ($685.2 million) with the Development Bank of Kazakhstan (DBK) under a framework agreement to facilitate long-term export credit agency (ECA) financing from HSBC Bank.
The African Export-Import Bank (Afreximbank) has signed an agreement with the Gabonese Gabonaise de Tourisme et de l’Hotellerie (GTH) group to provide a €24 million ($33.3 million) loan facility for the development of the Decapolis Rapontchombo hotel complex which would be managed under the Decameron brand.
Hong Kong-headquartered Pacific Basin Shipping (Pacific Basin), through PB Vessels Holding (PBVH), a wholly-owned British Virgin Islands company, has signed an export credit agency (ECA) backed financing facility with a group of banks in respect of 18 previously contracted Japanese newbuild bulk carrier vessels.
Ecuador and Panama have secured loans from the Inter-American Development Bank (IADB) to help expand their respective electricity transmission systems. In the case of Ecuador, the country will receive a $150 million loan. The loan is for a 25-year term, with a 13-year grace period and has an interest rate based on Libor – the IADB declines to provide further detail. Local contribution will be $19.5 million.
After a hiatus of almost three years, the United States Department of Energy (DOE) announced new funding allocation for its renewable energy loan guarantee program (LPO). Over $4 billion in financing will be made available to transactions that bring catalytic changes to the US electricity grid system.
The European Bank for Reconstruction and Development (EBRD), together with the Black Sea Trade and Development Bank (BSTDB), has extended loans for the first time for a solar power project in Romania. The loans will be made to the renewables energy company EDP Renováveis (EDPR) for the development of a solar park.
Japan’s Nippon Export and Investment Insurance (Nexi) has agreed to provide Loan Insurance for loans extended to Vietnam’s National Power Transmission Corporation (NPT).
The Japan Bank for International Cooperation (JBIC) has signed a £860 million ($1.44 billion) loan agreement with Agility Trains East Limited (ATEL) in the UK, where Japan’s Hitachi, holds an equity stake, to fund the development of the East Coast Main Line rail segment of the Intercity Express Programme.
Development banks led by the African Development Bank (AfDB) have signed a $142 million loan agreement to develop the 120MW Itezhi Tezhi power project in Zambia.
Further to Norwegian-owned shipping company Höegh LNG Holdings’ recent export credit financing for its second floating storage and regasification unit (FSRU) as we reported last week, the company has now entered into a firm agreement on its $400 million senior secured credit facility initially agreed in commitment letters with a group with banks in January 2014.
KfW IPEX-Bank, Crédit Agricole CIB and the Singapore branch of DNB Bank have arranged the financing for Hong Kong-Headquartered Star Cruises latest newbuild cruise ship. KfW IPEX-Bank has acted as the coordinating bank.
Canada’s Scotiabank has boosted its global infrastructure finance team in London with the appointment of Rocio Lozano as an associate director to the team.
Guest post, CC solutions: CC Solutions, in conjunction with TXF, is pleased to announce it is conducting a one day training session on theFundamentals of ECA Finance. Scheduled just prior to the US EXIM Bank conference in Washington, DC
Export Development Canada (EDC) has signed to provide a direct export credit financing line of $500 million for the Indian multi-sector conglomerate Reliance Industries Limited (RIL).
The Export-Import Bank of the United States (US Ex-Im) has strengthened its leadership team with the appointment of Robert Morin as senior vice president for business and development, while Robert Roy has been promoted to vice president for the transportation division.
Guest post, CC solutions: In the context of trade negotiations between China and the European Union, the EU's trade chief reiterated the importance of China committing to working on the development of international guidelines on export financing.
Sumitomo Mitsui Banking Corporation (SMBC) and the Japan Bank for International Cooperation (JBIC) have teamed to provide an export credit financing amounting to ¥6 billion ($59 million) to Yilport Holding (Yilport) in Turkey.
Export Development Canada (EDC) has provided Turkey’s Ak Finansal Kiralama (AkLease) with a $10 million credit line to create opportunities for Canadian equipment makers
Brazil’s Banco Pine will benefit from a $115 million loan from Commerzbank and the Inter-American Development Bank (IADB), which it will use for onlending to support environmentally sustainable projects in the South American country.
Project development company Lake Turkana Wind Power (LTWP) has signed the financing documents amounting to €623 million ($859 million) with a group of financial institutions for the 300 MW wind Lake Turkana Wind project in Kenya to proceed.
The C$850 million ($771.4 million) K2 Wind Power project in Ontario, Canada has reached financial close.
The Export-Import Bank of the United States (US Ex-Im) has signed a $1 billion Memorandum of Understanding (MoU) with the Philippine Department of Energy (DOE) that will facilitate the sale of US goods and services to energy projects in the Philippines.
Kuala Lumpur-headquartered ~Cosmos Chemicals Berhad^ has signed a $336 million technology and equipment deal with US-based GT Advanced Technologies (GTAT) for a polysilicon facility being built in Samalaju Industrial Park in Sarawak, Malaysia.
South African headquartered bank Investec has closed a major financing, including senior debt guaranteed by the Export-Import Bank of the United States (US Ex-Im), to Air India for the lease of four Boeing 787 Dreamliner jets, TXF has learnt from industry sources.
One of Norway’s leading marine services providers, Petroleum Geo-Services (PGS), has secured export finance from Japan Bank for International Cooperation (JBIC) and Sumitomo Mitsui Banking Corporation (SMBC) for two Ramform Titan-class vessels scheduled for delivery in 2015.
ING-DiBa AG (ING Bank) and Crédit Agricole Corporate & Investment Bank Deutschland (CACIB) have arranged two export credit financings for Russian power generating company RusHydro. The credits total €190 million ($263 million), and will be used for the modernisation of the Saratovskaya HPP (hydro-electric power plant).
Zambia Electricity Supply Corporation (Zesco) has signed a $163 million export financing agreement with Nordea and Standard Bank to finance the company’s north-western electricity supply grid extension project.
The European Bank for Reconstruction and Development (EBRD) has agreed to extend a senior loan of $200 million to Lukoil Overseas Shah Deniz (LSD), a wholly-owned subsidiary of Lukoil Overseas, the operator of Lukoil's overseas upstream projects.
The IFC is arranging financing to support the continued development of sustainable forestry in Guangxi, China for Stora Enso’s integrated state-of-the-art plantation, pulp and packaging board mill project. The Finland-headquartered company will receive new equity and debt financing.
Seaborn Networks (Seaborn) has mandated French bank Natixis to arrange the financing for Seaborn’s new submarine cable project, known as Seabras-1, linking commercial and financial centres of Brazil and the United States.
Singapore-headquartered LPG (liquefied petroleum gas) shipping and logistics company, Petredec, has finalised a $200 million export finance credit facility for the purchase of four 84,000 CBM LPG carriers under construction at Hyundai Heavy Industries (HHI) in South Korea.
Saudi Arabian telecommunications company Mobily (Etihad Etisalat) has agreed two new financings amounting to SAR2.1 billion ($560 million) backed by the export credit agencies (ECAs) of Finland and Sweden, Finnvera and EKN respectively, for the purchase of equipment from Nokia Siemens Networks (NSN) and Ericsson.
The European Bank for Reconstruction and Development (EBRD) has joined forces with Nordea Bank to support a €123 million ($170 million) modernisation of two manufacturing plants owned by Oil & Gas Systems (OGS), one of Russia’s largest pipeline valve producers.
Germany’s KfW IPEX-Bank (KfW) is providing a $109 million loan to Mississippi Silicon for the construction of a silicon metal manufacturing plant in the United States. SMS Siemag, the specialised metallurgical plant and mechanical engineering company based in Düsseldorf, will produce the arc furnace, the key component required for the new plant’s production process.
The Export-Import Bank of the United States has guaranteed a $300 million loan by the Apple Bank for Savings to China’s Minsheng Financial Leasing (MSFL) for the purchase of eight Gulfstream Aerospace aircraft. The deal means US Ex-Im has now supported more than $1 billion in financing for US-made business aircraft and helicopters since the start of the 2012 financial year.