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US Ex-Im provides guarantees for export of US-made bridges to Zambia
US Ex-Im provides guarantees for export of US-made bridges to Zambia
Jonathan Bell
23 June 2015

The Export-Import Bank of the United States (US Ex-Im) has announced that it is providing $73 million in guarantees for the loan related to the sale of Acrow Corporation of America’s modular steel bridge components to the Road Development Agency in Zambia.

MSC Cruises secures €1.2 billion ECA-backed financing
MSC Cruises secures €1.2 billion ECA-backed financing
Jonathan Bell
22 June 2015

Leisure cruise line MSC Cruises (MSC) has secured €1.2 billion ($1.35 billion) export credit agency (ECA) backed financing for the construction and purchase of two newbuild ‘Seaside class’ cruise ships. The vessels will be the largest ever built by the Fincantieri shipyard in Trieste, Italy.

Natixis and pbb co-arrange Airbus purchase for Turkish Airlines
Natixis and pbb co-arrange Airbus purchase for Turkish Airlines
Jonathan Bell
19 June 2015

Natixis and pbb Deutsche Pfandbriefbank (pbb) have co-arranged the financing of three Airbus aircraft for Turkish Airlines. The transaction is unusually financed in Swiss francs, and amounts to CHF260 million ($282 million).

Sibur makes progress with funding for its ZapSibNeftekhim petrochemical project
Sibur makes progress with funding for its ZapSibNeftekhim petrochemical project
Jonathan Bell
18 June 2015

Russian gas processing and petrochemicals company Sibur has made significant progress with the financing for its ZapSibNeftekhim petrochemical project, through an agreement with a consortium comprising the Russian Direct Investment Fund (RDIF) and leading international investors to invest in the development of the integrated facility in Tobolsk, Tyumen region.

MIGA support for SunEdison’s solar power projects in Honduras
MIGA support for SunEdison’s solar power projects in Honduras
Jonathan Bell
17 June 2015

The Multilateral Investment Guarantee Agency (MIGA) has agreed to support the development, construction, and operation of three solar photovoltaic power plants in Honduras that will add more than 80 megawatts (MW) of clean, renewable energy to the country’s grid.

Hawaiki Cable selects Natixis as advisor for cable project financing
Hawaiki Cable selects Natixis as advisor for cable project financing
Jonathan Bell
17 June 2015

Hawaiki Submarine Cable, the New Zealand owner and developer of Hawaiki submarine cable system, has appointed French bank Natixis as exclusive equity advisor for the project. The project represents one of the world’s first privately-owned subsea cables that is using project finance methods to finance construction.

JB's weekly round up - 17 June 2015
JB's weekly round up - 17 June 2015
Jonathan Bell
17 June 2015

June is a month that is always jam-packed with highly-publicised sporting accomplishments. With leagues and tournaments of every variety coming to a climatic end in the month, news feeds from Hong Kong to New York are always inundated with extravagant – if only occasionally merited – eulogies on the triumphs of a fleetingly-victorious team or sportsman.

MIGA provides investment guarantees for Angolan steel plant
MIGA provides investment guarantees for Angolan steel plant
Jonathan Bell
17 June 2015

The Multilateral Investment Guarantee Agency (MIGA) has agreed to support Aceria de Angola’s (ADA’s) construction and operation of a greenfield 250,000 tons per year steel rebar plant in Angola by providing investment guarantees.

MIGA provides investment guarantees for Angolan steel plant
MIGA provides investment guarantees for Angolan steel plant
Jonathan Bell
17 June 2015

The Multilateral Investment Guarantee Agency (MIGA) has agreed to support Aceria de Angola’s (ADA’s) construction and operation of a greenfield 250,000 tons per year steel rebar plant in Angola by providing investment guarantees.

Unlocking the potential of Russia-Asia cooperation
16 June 2015

KfW IPEX arranges export credit financing for Iceland silicon project
KfW IPEX arranges export credit financing for Iceland silicon project
Jonathan Bell
12 June 2015

KfW IPEX-Bank has arranged a $194 million export credit financing transaction for the German firm PCC SE to build a state-of-the-art silicon metal production plant in Husavik in the north of Iceland. Once completed it will be one of the most advanced silicon smelting plants in the world.

SACE provides guarantees for loans to EuroChem’s new Russian ammonia plant
SACE provides guarantees for loans to EuroChem’s new Russian ammonia plant
Jonathan Bell
12 June 2015

Italian export credit agency SACE has agreed to guarantee a total of €575 million ($648 million) loans to be issued to Russia’s agrichemical company EuroChem to build a plant in Russia for the production of ammonia. The plant will be built by Maire Tecnimont of Italy.

Infrastructure and Africa hold the biggest prospects for ECA finance
Infrastructure and Africa hold the biggest prospects for ECA finance
Dan Sheriff
12 June 2015

The top rated sectors for growth in export finance over the next two years are power and infrastructure, according to a poll of close to 300 executives at the recent TXF ECA finance conference in Paris.

ING and KfW IPEX arrange Airbus financing for Asiana Airlines
ING and KfW IPEX arrange Airbus financing for Asiana Airlines
Jonathan Bell
11 June 2015

The New York-based team of ING Capital together with KfW IPEX-Bank have arranged an export finance structure for South Korean Asiana Airlines’ (Asiana) acquisition of one Airbus A380-800 aircraft.

Macquarie appoint ECA-backed ship finance specialist
Macquarie appoint ECA-backed ship finance specialist
Dan Sheriff
11 June 2015

Macquarie Group have appointed Guido Musso as managing director for shipping and offshore, within its specialised investment solutions business. Musso is a respected specialist in export credit agency (ECA)-backed shipping and aircraft transactions.

Natixis arranges France's largest power project refinancing for Exeltium
Natixis arranges France's largest power project refinancing for Exeltium
Jonathan Bell
8 June 2015

Natixis has led a group of international banks in arranging a €1.4 billion project refinancing for Exeltium, the French industrial consortium providing power to a range of French electro-intensive industrial clients and sectors.

Transnet secures $2.4 billion from China Development Bank
Transnet secures $2.4 billion from China Development Bank
Jonathan Bell
4 June 2015

South Africa's state-run logistics and transport company Transnet has secured a ZAR30 billion ($2.4 billion) loan agreement with the China Development Bank (CDB). The funds will be used to purchase of 232 diesel and 359 electric locomotives from China North Rail (CNR) and China South Rail (SCR) respectively.

Canada’s EDC and Colombian Development Bank sign infra agreement
Canada’s EDC and Colombian Development Bank sign infra agreement
Jonathan Bell
4 June 2015

Export Development Canada (EDC) today announced the signing of an agreement with Colombia’s National Development Bank (Financiera de Desarrollo Nacional -FDN) that will formalise the partnership between the two organisations.

EBRD finances first large-scale solar project in Kazakhstan
EBRD finances first large-scale solar project in Kazakhstan
Jonathan Bell
3 June 2015

The European Bank for Reconstruction and Development (EBRD) is set to finance a landmark renewable energy project in Kazakhstan, along with co-financing from the Clean Technology Fund (CTF), with loans of well over €80 million ($88.7 million).

AfDB signs loans for Egypt’s Sharm el-Sheikh airport development
AfDB signs loans for Egypt’s Sharm el-Sheikh airport development
Jonathan Bell
1 June 2015

The African Development Bank (AfDB) has finally formally signed two loans and a letter of agreement for the development of Egypt’s Sharm el-Sheikh airport and to support the country’s tourist sector.

ERC: connecting Ethiopia with a benchmark financing
ERC: connecting Ethiopia with a benchmark financing
Oliver Gordon
28 May 2015

BEST AFRICAN ECA FINANCE DEAL OF THE YEAR Ollie Gordon examines the details of ERC’s Awash-Weldia/Hara Gebeya Railway project in Ethiopia.

KIPP: truly out of Africa
KIPP: truly out of Africa
Oliver Gordon
28 May 2015

BEST DFI DEAL OF THE YEAR Ollie Gordon discovers how agencies and banks worked together to develop the unique financing structure for the KIPP power plant financing in Ghana.

EIB and EBRD sign loans to support Poland’s Grupa Azoty industrial expansion
EIB and EBRD sign loans to support Poland’s Grupa Azoty industrial expansion
Jonathan Bell
28 May 2015

The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) are teaming up to support further expansion of Grupa Azoty, Poland’s leading chemical and fertiliser company. The loans will provide the Polish company with PLN700 million ($185 million) long-term financing facilities.

Reliance Jio Infocomm: Kexim goes the extra distance
Reliance Jio Infocomm: Kexim goes the extra distance
Dalia Gebrial
28 May 2015

BEST ASIA-PACIFIC ECA FINANCE DEAL OF THE YEAR Dalia Gebrial reviews a landmark financing for Reliance developed with solid support from Kexim.

Burgos: ethical financing ... on the run
Burgos: ethical financing ... on the run
Oliver Gordon
28 May 2015

BEST ECA-BACKED GREEN DEAL OF THE YEAR Ollie Gordon reviews the financing arrangements for the Burgos Wind Farm project financing in the Philippines.

Time to take Africa’s lead
Time to take Africa’s lead
Oliver Gordon
28 May 2015

Last year’s multi-billion rand locomotive order by South Africa’s Transnet set a new standard for localisation requirements in African development projects. However, Ollie Gordon finds out why its related ECA financing is begging new questions of the OECD consensus guidelines.

Right place, right time
Right place, right time
Oliver Gordon
28 May 2015

Despite a sluggish outlook for Latin American regional growth over 2015, BBVA’s Carlos Herrera and Sandra Nolasco tell Ollie Gordon how the resilient performance of the Pacific Alliance countries has given the bank a reason to be cheerful.

Right place, right time
Right place, right time
Oliver Gordon
28 May 2015

Despite a sluggish outlook for Latin American regional growth over 2015, BBVA’s Carlos Herrera and Sandra Nolasco tell Ollie Gordon how the resilient performance of the Pacific Alliance countries has given the bank a reason to be cheerful.

TAG’s top 5 dealmakers
TAG’s top 5 dealmakers
Oliver Gordon
28 May 2015

TXF recently caught up with the five most prolific dealmakers on tagmydeals (TAG) to find out a little bit about them, their favourite deals from 2014, and their outlooks for 2015. These top taggers cover a broad spectrum of trade financing industries – including export finance, structured commodity finance and project finance – and provide crucial, on-the-ground insight into what the market looks like from the perspective of those getting their hands dirty putting the deals together.

Breakthrough insurance product brings 25-year development finance
Breakthrough insurance product brings 25-year development finance
Stephen Atallah
27 May 2015

A radically revamped form of insurance provides new and powerful solutions for project sponsors, financiers and public borrowers in search of 100%, 25-year, low risk financing for projects in Africa and Latin America and most every other challenging credit market. This innovation comes from the Overseas Private Investment Corporation (OPIC).

Japanese firms win tender for IWPP project in Qatar
27 May 2015

Introducing… the TXF Chronicle
Introducing… the TXF Chronicle
Oliver Gordon
26 May 2015

As with any given seven-day period in the modern age of news reportage, last week was chock-a-block full of current affairs shockers, geopolitical wranglings, cyclical sporting accomplishments and surprisingly changeable weather patterns. However, the news on everyone’s lips was surely the long-anticipated launch of the TXF Chronicle…

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 Contributor
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.