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Cosmos inks deal with GTAT to build polysilicon plant
Cosmos inks deal with GTAT to build polysilicon plant
Hesham Zakai
19 March 2014

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.

Escondida copper mine receives EFIC support
Escondida copper mine receives EFIC support
Hesham Zakai
18 March 2014

Minera Escondida Limitada (MEL), the owner of the Escondida copper mine in Chile, has received a $100 million loan from Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency.

Investec closes Air India financing
Investec closes Air India financing
Hesham Zakai
17 March 2014

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.

Norway's PGS to acquire Japanese vessels with ECA finance
Norway's PGS to acquire Japanese vessels with ECA finance
Hesham Zakai
14 March 2014

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 and CACIB arrange export credits for RusHydro
ING and CACIB arrange export credits for RusHydro
Jonathan Bell
6 March 2014

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’s Zesco secures Swedish export credit financing
Zambia’s Zesco secures Swedish export credit financing
Jonathan Bell
6 March 2014

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.

Azeri Shah Deniz project receives loan from EBRD
Azeri Shah Deniz project receives loan from EBRD
Jonathan Bell
4 March 2014

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.

IFC arranges financing for Stora Enso China project
IFC arranges financing for Stora Enso China project
Jonathan Bell
4 March 2014

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 mandates Natixis for Seabras-1 financing
Seaborn Networks mandates Natixis for Seabras-1 financing
Jonathan Bell
3 March 2014

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.

CACIB coordinates ECA-backed finance for Petredec
CACIB coordinates ECA-backed finance for Petredec
Jonathan Bell
3 March 2014

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.

ING Frankfurt expands export finance team
ING Frankfurt expands export finance team
Jonathan Bell
3 March 2014

ING Bank has expanded its export finance team with the hiring of Marina Grigoryeva to work in their Frankfurt office.

Turkey’s agri-sector gets boost with EBRD loan
Turkey’s agri-sector gets boost with EBRD loan
Jonathan Bell
3 March 2014

Turkey’s agricultural sector has received a boost with a €25 million ($34.7 million) loan from the European Bank for Reconstruction and Development (EBRD). The funds will support the construction of cold chain storage storage facilities.

Mobily inks new ECA deals for NSN and Ericsson equipment
Mobily inks new ECA deals for NSN and Ericsson equipment
Hesham Zakai
27 February 2014

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.

Nigerian paper mill gets AfDB financing
Nigerian paper mill gets AfDB financing
Jonathan Bell
27 February 2014

African Development Bank has agreed to provide a $30 million loan to finance the rehabilitation of Nigeria’s Oku Iboku Pulp and Paper Mill in Akwa Ibom and Cross River States in the south-east of the country.

EBRD and Nordea fund Oil & Gas Systems upgrades
EBRD and Nordea fund Oil & Gas Systems upgrades
Hesham Zakai
26 February 2014

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.

Mississippi Silicon to construct metal plant with KfW financing
Mississippi Silicon to construct metal plant with KfW financing
Hesham Zakai
24 February 2014

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.

US Ex-Im guarantees landmark Apple Bank aircraft loan to MSFL
US Ex-Im guarantees landmark Apple Bank aircraft loan to MSFL
Hesham Zakai
21 February 2014

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.

KfW provides JSW Steel with loan for site expansion
KfW provides JSW Steel with loan for site expansion
Hesham Zakai
19 February 2014

India’s largest steel company, JSW Steel, has received an export finance loan of approximately €15 million ($21 million) that will allow it to expand its production site in Vijayanagar, south India. The loan has a tenor of 8.5 years.

Australia’s NewSat reaches financial close on Jabiru-1 satellite
Australia’s NewSat reaches financial close on Jabiru-1 satellite
Jonathan Bell
17 February 2014

Australian satellite company, NewSat, has reached financial close with the Export-Import Bank of the United States (US Ex-Im) and France’s Coface for $390.1 million of direct debt funding for the Jabiru-1 satellite project.

Agrowind project financed by Rabobank, KfW and EIB
Agrowind project financed by Rabobank, KfW and EIB
Hesham Zakai
14 February 2014

NOP Agrowind has secured €350 million ($480 million) in loans to construct 26 wind turbines in the Netherlands from a consortium of Rabobank, KfW IPEX-Bank and the European Investment Bank (EIB).

Trafi to build LatAm hub in Montevideo
Trafi to build LatAm hub in Montevideo
Jonathan Bell
10 February 2014

Commodity trader Trafigura has announced its intention to invest in and build its regional hub in Montevideo, Uruguay, to complement regional offices already established in Houston, Geneva and Singapore. The Montevideo office will become the group’s Latin American (LatAm) regional hub.

KfW and BayernLB finance Uruguay’s Pampa wind farm
KfW and BayernLB finance Uruguay’s Pampa wind farm
Jonathan Bell
10 February 2014

KfW IPEX-Bank and BayernLB have signed a loan agreement with Usinas y Trasmisiones Eléctricas(UTE), Uruguay's state-owned power utility, to fund part of the development of the Pampa wind farm in the Tacuarembo department of the country.

JB's weekly round-up - 12 February 2014
JB's weekly round-up - 12 February 2014
Jonathan Bell
10 February 2014

Hoorah, the winter Olympics are underway, and thank you Mr Deripaska et al and other mega-rich Russians for involvement in the infrastructure development there.

KfW funds ship exports to Viking River Cruises
KfW funds ship exports to Viking River Cruises
Jonathan Bell
7 February 2014

KfW IPEX-Bank is providing the funding for Swiss-American river-cruise line Viking River Cruises (VRC) to import twelve new river-cruise ships which are being built at the Neptun Werft shipyard in Rostock, Germany

Financing secured for San Marcos wind farm in Honduras
Financing secured for San Marcos wind farm in Honduras
Jonathan Bell
6 February 2014

The San Marcos wind project in Honduras, owned by Vientos de Eletrotecnia, a member of Grupo Terra, has secured $127.5 million in senior debt financing.

KfW to finance Meyer Werft-built RCCL cruise ship
KfW to finance Meyer Werft-built RCCL cruise ship
Hesham Zakai
6 February 2014

KfW IPEX-Bank is financing a cruise ship commissioned by Royal Caribbean Cruises (RCCL) to be built by Meyer Werft – the third Quantum-class cruise ship built at the Papenburg shipyard for the Florida-based cruise company.

EDC opens in Bogota to tap further business in the region
EDC opens in Bogota to tap further business in the region
Hesham Zakai
5 February 2014

Canada’s export credit agency, Export Development Canada (EDC), has continued its expansion across the Andes with the establishment of a permanent representative office in Bogota, Colombia. The move has been made in anticipation of an infrastructure boom in Colombia.

NTPC secures power financing from JBIC and SMBC
NTPC secures power financing from JBIC and SMBC
Hesham Zakai
4 February 2014

India’s National Thermal Power Company (NTPC), the country’s largest power provider, has secured $430 million in financing after signing two loan agreements with the Japan Bank for International Cooperation (JBIC) and Sumitomo Mitsui Banking Corporation (SMBC).

Moroccan juice producer Citruma receives EBRD loan
Moroccan juice producer Citruma receives EBRD loan
Hesham Zakai
3 February 2014

Moroccan juice producer Citruma has received €5.5 million ($7.4 million) in financing from the European Bank for Reconstruction and Development (EBRD), to fund the expansion of its product offering and operations.

EBRD provides drinking water loan to Morocco’s ONEE
EBRD provides drinking water loan to Morocco’s ONEE
Hesham Zakai
31 January 2014

Morocco’s Office National de l'Electricité et de l'Eau Potable (ONEE) is to receive a €65 million ($88 million) sovereign guaranteed loan from the European Bank for Reconstruction and Development (EBRD) to increase the supply of drinking water in the North African country.

KfW and AWAS close penultimate ECA-backed financing
KfW and AWAS close penultimate ECA-backed financing
Hesham Zakai
28 January 2014

KfW IPEX-Bank and AWAS Aviation Capital have closed the seventh financing under their eight aircraft ECA supported financing facility.

Isuzu Motors gets bank and JBIC support for Indonesian sales
Isuzu Motors gets bank and JBIC support for Indonesian sales
Jonathan Bell
22 January 2014

The Japan Bank for International Cooperation (JBIC) and a commercial bank group have arranged a loan of $68 million for the Indonesian government to purchase trucks from PT Isuzu Astra Motor Indonesia (IAMI); an affiliate of Isuzu Motors of Japan.

StanChart and Finnvera combine for loans to Indonesia’s PLN
StanChart and Finnvera combine for loans to Indonesia’s PLN
Hesham Zakai
22 January 2014

Standard Chartered (StanChart) has arranged two loans totalling €160 million ($215 million) for Perusahaan Listrik Negara (PLN), Indonesia’s national electricity company, to finance the production of two gas power plants that will include 35 Wärtsilä 34SG gas-fired generating sets.

MSFL leases Bombardier jets using EDC financing
MSFL leases Bombardier jets using EDC financing
Hesham Zakai
22 January 2014

Asia’s leading business aircraft leasing company, Minsheng Financial Leasing (MSFL), has received a $210 million loan from Canada’s export credit agency, Export Development Canada (EDC), to facilitate its leasing of two business jets from Canadian aerospace company Bombardier.

Russia’s PhosAgro signs ECA-backed credit line
Russia’s PhosAgro signs ECA-backed credit line
Jonathan Bell
17 January 2014

Russian fertiliser production company, PhosAgro, has signed a $440.6 million loan package with an international group of banks, supported by the Japanese agencies Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (Nexi) – under a co-financing arrangement.

EBRD leads refinancing for Hungarian gas storage facility
EBRD leads refinancing for Hungarian gas storage facility
Hesham Zakai
16 January 2014

The European Bank for Reconstruction and Development (EBRD) has led the refinancing of a strategic Hungarian gas storage facility, after majority stakeholder MOL sold its stake in the unit to the Hungarian Development Bank and the Hungarian Hydrocarbon Stockpiling Association. The deal signals something of a return for project financing in Central and Eastern Europe.

KfW and NordLB finance Siemens power units to South Korea
KfW and NordLB finance Siemens power units to South Korea
Jonathan Bell
15 January 2014

KfW IPEX-Bank and NordLB have teamed to structure export credit agency-backed financing of €194 million ($263.7 million) to finance German power plants to South Korea.

Former Atradius MD Johan Schrijver founds consultancy
Former Atradius MD Johan Schrijver founds consultancy
Hesham Zakai
15 January 2014

Johan Schrijver, the former managing director of the Dutch export credit agency Atradius, has set up a new consultancy, Schrijver & Partners, to advise businesses and government institutions on export finance, project finance and credit insurance.

Nexi provides credit insurance for export of bulk carrier
Nexi provides credit insurance for export of bulk carrier
Hesham Zakai
13 January 2014

Japan’s Nippon Export and Investment Insurance (Nexi) has provided a $12.3 million buyer’s credit insurance on loans extended to Bahama-based African Kite Shipping. The insurance will help to facilitate the shipping company’s purchase of a bulk carrier built by Japanese company Imabari Shipbuilding.

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.