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US Ex-Im and ICIEC provide loan for refurbishing PIA aircraft engines
US Ex-Im and ICIEC provide loan for refurbishing PIA aircraft engines
Dalia Gebrial
26 May 2015

The Export-Import Bank of the United States (US Ex-Im), along with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), is providing a $55 million loan for the refurbishing of Pakistan International Airlines (PIA) engines by General Electric (GE).

JB's weekly round up - 25 May 2015
JB's weekly round up - 25 May 2015
Jonathan Bell
25 May 2015

On the afternoon of 16th July in London, TXF will be hosting a complimentary event on CAPEX and Project Financing in Africa. The event will bring together corporates, banks and agencies with an interest in doing more business in Africa. The event will be followed by TXF summer drinks, where all are welcome.

EBRD finances tram system in Pavlodar, Kazakhstan
EBRD finances tram system in Pavlodar, Kazakhstan
Jonathan Bell
22 May 2015

The European Bank for Reconstruction and Development (EBRD) is providing a KZT2.5 billion ($13.5 million) loan to help Pavlodar, a major city in the north-east of Kazakhstan, to modernise the tramway system that is crucial for public transportation in the city.

JB's weekly round up - 15 May 2015
JB's weekly round up - 15 May 2015
Jonathan Bell
18 May 2015

Next week is the start of a hectic period for TXF. We launch the inaugural “TXF Chronicle”, our latest industry special report. We’ll also be joined by 200 of the commodity finance world’s great and good in Amsterdam for our annual conference and industry dinner. I’m really looking forward to catching up with some good friends, and getting a proper sense of market activity. Click here to see who else will be there.

Fifty shades of corruption
Fifty shades of corruption
Guest Blog
18 May 2015

When two prominent MPs (members of parliament) had to announce they would step down before the recent election after being caught on camera discussing taking cash for questions and influence, it made me strangely proud of the UK.

Freeport LNG secures project financing for third and final liquefaction train
Freeport LNG secures project financing for third and final liquefaction train
Dalia Gebrial
6 May 2015

The third subsidiary of the Texas Freeport LNG Expansion (Freeport LNG) project, FLNG Liquefaction 3 (FLIQ3), has successfully closed $3.692 billion worth of secured credit facilities from a group of 27 commercial banks.

ADB signs $1 billion agreement with Azerbaijan to upgrade power grid
ADB signs $1 billion agreement with Azerbaijan to upgrade power grid
Jonathan Bell
5 May 2015

The Asian Development Bank (ADB) and the government of Azerbaijan have signed an agreement for a $1 billion investment programme to rehabilitate and expand the country’s power distribution network.

ADB signs first-ever PPP co-advisory agreement with global banks
ADB signs first-ever PPP co-advisory agreement with global banks
Jonathan Bell
4 May 2015

The Asian Development Bank (ADB) has signed a public-private partnership (PPP) co-advisory agreement with eight global commercial banks. The move is aimed at accelerating the flow of private funds into critical infrastructure projects in developing Asia.

IFC and PFS collaborate to boost financing for renewable energy projects in India
IFC and PFS collaborate to boost financing for renewable energy projects in India
Jonathan Bell
28 April 2015

International Finance Corporation (IFC) and PTC India Financial Services (PFS) have agreed partner to provide much-needed infrastructure financing for renewable energy projects in India.

Herbert Smith Freehills hires new partner for UK infrastructure practice
Herbert Smith Freehills hires new partner for UK infrastructure practice
Jonathan Bell
27 April 2015

International law firm Herbert Smith Freehills has hired Simon Caridia to join its projects and infrastructure practice in London as a partner with effect from 1 May 2015.

Peru’s largest twin wind farm project seals further financing
Peru’s largest twin wind farm project seals further financing
Dalia Gebrial
23 April 2015

Peru’s largest wind project has secured two financing agreements, totalling $254 million, from French bank Natixis.

Siemens wins US Ex-Im’s Renewable Exporter of the Year award
Siemens wins US Ex-Im’s Renewable Exporter of the Year award
Jonathan Bell
22 April 2015

The Export-Import Bank of the United States (US Ex-Im) has announced that Siemens Energy (US) has been named as the Renewable Exporter of the Year.

AfDB commits funds to Egypt’s Sharm El-Sheikh airport expansion project
AfDB commits funds to Egypt’s Sharm El-Sheikh airport expansion project
Jonathan Bell
15 April 2015

The African Development Bank Group (AfDB) has approved a $140 million loan to Egypt’s Sharm El-Sheikh Development Project. The project includes construction of a new terminal, runway and control tower within the confines of the airport.

US-made AgustaWestland helicopter sale to Panama gets US Ex-Im guarantees
US-made AgustaWestland helicopter sale to Panama gets US Ex-Im guarantees
Jonathan Bell
10 April 2015

The Export-Import Bank of the United States (US Ex-Im) has approved export credit guarantees supporting the sale of US-manufactured AgustaWestland AW139 helicopters to North Pole Investments in Panama for leasing and use in Colombia’s offshore oil and gas industry.

K-sure covers ING loan for Singapore-based shipping company
K-sure covers ING loan for Singapore-based shipping company
Dalia Gebrial
9 April 2015

ING Bank is providing Singapore-based shipping company Quantum Pacific Shipping with a $344.7 million loan, which will be backed by Korean export credit agency (ECA) Korea Trade Insurance Corporation (K-sure), TXF has learnt.

EDC finances aircraft purchase for China’s AVIC
EDC finances aircraft purchase for China’s AVIC
Dalia Gebrial
8 April 2015

Canadian export credit agency (ECA) Export Development Canada (EDC) has provided the Chinese state-owned aerospace and defence company, the Aviation Industry Corporation of China International Leasing (AVIC), with a $45 million loan.

Judge throws out Delta Airlines’ suit against US Ex-Im
Judge throws out Delta Airlines’ suit against US Ex-Im
Dalia Gebrial
7 April 2015

A federal US judge has thrown out a long-held suit – led by domestic airline Delta Airlines – against the US export credit agency (ECA), the Export-Import Bank of the United States (US Ex-Im).

Allen & Overy expands sub-Saharan project finance practice
Allen & Overy expands sub-Saharan project finance practice
Jonathan Bell
6 April 2015

Law firm Allen & Overy has expanded its sub-Saharan project finance practice with the hiring of Jason van der Poel within its Johannesburg office. He comes in as a partner in A&O’s international projects, energy and infrastructure group.

SocGen, US Ex-Im team up for Cameroon water project
SocGen, US Ex-Im team up for Cameroon water project
Oliver Gordon
2 April 2015

French bank Société Générale (SocGen) has joined forces with the Export-Import Bank of the United States (US Ex-Im) to finance the development of an emergency water treatment project in the Cameroonian city of Yaoundé, TXF has learnt.

China Aircraft Leasing lands its first ECA-backed financing
China Aircraft Leasing lands its first ECA-backed financing
Dalia Gebrial
2 April 2015

Chinese aircraft lessor China Aircraft Leasing Group (CALC) has completed its first aircraft financing backed by an export credit agency (ECA) guarantee – a $224 million facility guaranteed by UK ECA UK Export Finance (UKEF).

Enel bags debut KfW IPEX-Bank loan for South African wind farm
Enel bags debut KfW IPEX-Bank loan for South African wind farm
Dalia Gebrial
1 April 2015

German development bank KfW IPEX-Bank is providing a ZAR2.1 billion loan ($180 million) to the South African subsidiary of Enel Green Power (Enel). This is the first loan granted by KfW IPEX-Bank to the Italian renewable energy company.

SMBC serves up NEXI-backed loan for Tanzanian power project
SMBC serves up NEXI-backed loan for Tanzanian power project
Dalia Gebrial
31 March 2015

Japanese bank Sumitomo Mitsui Banking Corporation (SMBC) is providing Tanzania Electric Supply Company (TANESCO), the country’s national power company, with a $117 million loan for the Kinyerezi power project.

Update: Emirates set to close UKEF-backed sukuk
Update: Emirates set to close UKEF-backed sukuk
Oliver Gordon
30 March 2015

Emirates, the Dubai-based airline, is set to wrap up its much-anticipated sukuk guaranteed by British export credit agency (ECA) UK Export Finance (UKEF), after successfully pricing the $913 million ten-year Islamic bond.

ING closes Coface-backed financing for Korean Air
ING closes Coface-backed financing for Korean Air
Jonathan Bell
27 March 2015

ING Bank has closed another Coface-guaranteed financing for Korean Air Lines (Korean Air). The transaction was structured by ING Capital in New York as the sole arranger.

 EDC finances construction of Hispasat satellite
EDC finances construction of Hispasat satellite
Dalia Gebrial
26 March 2015

Canadian export credit agency (ECA) Export Development Canada (EDC) has provided the Spanish satellite communications operator, Hispasat Group (Hispasat), with a €140 million ($154.13 million) loan for the construction of the Amazonas 5 satellite.

NEXI cover for Caterpillar exports to Turkey
NEXI cover for Caterpillar exports to Turkey
Jonathan Bell
26 March 2015

Nippon Export and Investment Insurance (NEXI) is providing credit guarantees to an overall approximate €45.4 million ($49.4 million) transaction financing Caterpillar Corporation (Japan) hydraulic shovels to Turkey.

Talking export and project finance with MUFG's Andrew Jameson
Talking export and project finance with MUFG's Andrew Jameson
Jonathan Bell
24 March 2015

TXF Interviews Andrew Jameson, general manager, investment banking division for EMEA at Mitsubishi UFJ Financial Group

Update: Emirates sets guidance on UKEF-backed sukuk
Update: Emirates sets guidance on UKEF-backed sukuk
Oliver Gordon
24 March 2015

Dubai-based airline Emirates has set the initial price guidance on its mooted $913 million sukuk – Islamic bond – guaranteed by the British export credit agency UK Export Finance (UKEF), a leaked arranger document has revealed.

Petro Rabigh seals $5 billion financing from Japanese-led consortium
Petro Rabigh seals $5 billion financing from Japanese-led consortium
Dalia Gebrial
20 March 2015

The Rabigh Refining and Petrochemical Company (Petro Rabigh) has secured $5.168 billion worth of project financing for its integrated oil refinery and petrochemical plant (Rabigh Phase II Project) in the Rabigh district of Saudi Arabia.

Honduras hydroelectric plant gets IADB and JICA backing
Honduras hydroelectric plant gets IADB and JICA backing
Dalia Gebrial
20 March 2015

The Inter-American Development Bank (IADB) and the Japan International Cooperation Agency (JICA) are providing a $158.4 million financing package to Honduras for the improvement of the Cañaveral–Rio Lindo hydroelectric power plants.

DFIs team up to finance Georgia’s Shuakhevi hydropower plant
DFIs team up to finance Georgia’s Shuakhevi hydropower plant
Dalia Gebrial
19 March 2015

The International Finance Corporation (IFC), the Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD) are coming together to provide $250 million of financing for Georgia’s Shuakhevi hydropower plant.

EBRD and Taiwan’s Eximbank team for infra projects
EBRD and Taiwan’s Eximbank team for infra projects
Jonathan Bell
19 March 2015

The European Bank for Reconstruction and Development (EBRD) and Taiwan’s Export-Import Bank of the Republic of China (Eximbank) have agreed to boost their cooperation and co-finance infrastructure projects in regions where the EBRD invests.

MIGA, KfW back Colombian urban development projects
MIGA, KfW back Colombian urban development projects
Oliver Gordon
18 March 2015

The Multilateral Investment Guarantee Agency (MIGA) has teamed up with German development bank KfW to finance a funding programme for urban mobility, health and education infrastructure, and social housing in a range of Colombian cities.

KfW IPEX and BayernLB arrange Uruguay wind farm financing
KfW IPEX and BayernLB arrange Uruguay wind farm financing
Dalia Gebrial
18 March 2015

The German state-owned bank, KfW IPEX-Bank, has teamed up with BayernLB to arrange a $224 million financing for the Pampa wind farm in Uruguay. Total investment cost of the project is approximately $320 million.

Oceanic Breeze LNG project secures financing from JBIC, Mizuho and BTMU
Oceanic Breeze LNG project secures financing from JBIC, Mizuho and BTMU
Dalia Gebrial
17 March 2015

The Oceanic Breeze LNG Transport (OBLT) project has secured $125 million worth of financing from a club of Japanese banks and the Japanese export credit agency (ECA), the Japan Bank for International Cooperation (JBIC).

Agencies provide loan to Morocco’s BMCE Bank for energy projects
Agencies provide loan to Morocco’s BMCE Bank for energy projects
Jonathan Bell
17 March 2015

Four development financing agencies have teamed to provide a loan to Morocco’s BMCE Bank to be used in sustainable energy projects. The agencies involved are: the European Bank for Reconstruction and Development (EBRD), the Agence Française de Développement (AFD), the European Investment Bank (EIB) and Kreditanstalt für Wiederaufbau (KfW).

Orascom pushes ahead with Egyptian $3 billion coal-fired power plant project
Orascom pushes ahead with Egyptian $3 billion coal-fired power plant project
Jonathan Bell
16 March 2015

Dubai-headquartered Orascom Construction (OC) has announced today that it is to move ahead rapidly with its planned 3,000 MW coal-fired power plant in Egypt, with an initial cost of $3 billion. OC’s consortium with Abu Dhabi-based International Petroleum Investment Company (IPIC) has signed a development agreement as an addition to the existing memorandum previously signed with the Egyptian government in November 2014.

IsDB provides Egypt with $4 billion financing package
IsDB provides Egypt with $4 billion financing package
Dalia Gebrial
16 March 2015

The Islamic Development Bank (IsDB) is providing Egypt with a $4 billion financing package in support of a selection of energy and infrastructure projects. The deals were announced at the Egypt Economic Development Conference, held in Sharm el-Sheikh over the weekend.

Emirates mandates banks for debut UKEF-backed sukuk
Emirates mandates banks for debut UKEF-backed sukuk
Oliver Gordon
16 March 2015

Dubai-based airline Emirates has mandated eight banks to arrange a sukuk – an Islamic bond – guaranteed by British export credit agency (ECA) UK Export Finance (UKEF).

Maersk Line announces new CFO
Maersk Line announces new CFO
Jonathan Bell
13 March 2015

Shipping company Maersk Line has announced that Pierre Danet will become the new chief financial officer of the company as of 7 April 2015. He will also be part of the management board of Maersk Line.

EDC provides credit facility for GNR Mexico
EDC provides credit facility for GNR Mexico
Dalia Gebrial
12 March 2015

Canada’s export credit agency (ECA), Export Development Canada (EDC), is providing a $750,000 credit facility to the Mexican affiliate of Montreal-based GNR Technologies (GNR).

Afrexim and StanChart arrange Kenya power sector loan
Afrexim and StanChart arrange Kenya power sector loan
Dalia Gebrial
12 March 2015

The African Export-Import Bank (Afreximbank) has teamed with Standard Chartered (StanChart) to provide Kenya Power and Lighting Company (KPLC), a Nairobi Stock Exchange-listed electric utility firm, with a $190 million loan.

GIEK provides financing for Ulstein PSV
GIEK provides financing for Ulstein PSV
Jonathan Bell
11 March 2015

The Norwegian export credit agency GIEK has issued a buyer credit guarantee of NOK123.4 million ($14.9 million) for the long-term post financing of the platform supply vessel (PSV) Blue Queen.

Baker & McKenzie boosts South African projects and energy team
Baker & McKenzie boosts South African projects and energy team
Jonathan Bell
10 March 2015

Law firm Baker & McKenzie has expanded its presence in South Africa with the addition of leading projects and energy partner Kieran Whyte. He will be based in Johannesburg.

JB's weekly round up - 10 March 2015
JB's weekly round up - 10 March 2015
Jonathan Bell
10 March 2015

After a great deal of help from those in the industry, we are delighted to share the first edition of our brochure for TXF Paris 2015.

Thales to provide security for new Qatari port
Thales to provide security for new Qatari port
Dalia Gebrial
9 March 2015

The French electrical systems provider, Thales Group, has been awarded a contract by the State of Qatar to secure its new commercial port, New Port Project – soon to be one of the world’s largest and most technologically advanced.

ADFD signs pact with Kexim to cooperate in project co-financing
ADFD signs pact with Kexim to cooperate in project co-financing
Jonathan Bell
9 March 2015

Abu Dhabi Fund for Development (ADFD) has signed an agreement with the Export-Import Bank of Korea (Kexim) to enhance collaboration in project co-financing across emerging economies.

JB's weekly round up - 3 March 2015
JB's weekly round up - 3 March 2015
Jonathan Bell
3 March 2015

Last week in London TXF held an evening presentation related to its first ECA data report for 2014.

Transnet makes key steps towards US Ex-Im and EDC-backed locomotives purchase
Transnet makes key steps towards US Ex-Im and EDC-backed locomotives purchase
Dalia Gebrial
2 March 2015

South Africa’s sole national rail network operator, Transnet, hosted a signing ceremony today for two tranches of its R50 billion ($4.26 billion) contract for the purchase of 1064 diesel and electric locomotives.

Turkey’s Dalaman Airport project gets EBRD and UniCredit financing
Turkey’s Dalaman Airport project gets EBRD and UniCredit financing
Jonathan Bell
25 February 2015

The European Bank for Reconstruction and Development (EBRD) and UniCredit are financing the construction and operation of a new domestic terminal at Dalaman airport in the south-western Turkish province of Muğla under a public-private partnership (PPP) scheme.