TXF Americas 2020
The fun in the sun returns! Bringing all key players together for two days of networking, we explore case studies of the latest deals and examine the next hot opportunities across the region.
The European Bank for Reconstruction and Development (EBRD) has signed a €33.3 million ($44.2 million) loan for the development of the Novoazovskiy Wind Park in the Donetsk region of Ukraine. The project has also won approval for a parallel loan from the Clean Technology Fund (CTF) of up to €15.5 million.
Taiwan Stock Exchange-listed shipping operator U-Ming Marine Transport has secured buyer credit agreements for the purchase of three 84,000DWT class bulk carriers from Sumitomo Corporation. The total value of the deal is approximately $81.1 million, equally split between JBIC and Citibank Japan. Nippon Export and Investment Insurance (Nexi) is providing buyer credit insurance for the Citi portion.
Telefonica, the Spanish telecommunications company, has closed the ECA-backed financing for the purchase of infrastructure equipment from Finland’s Nokia Solutions and Networks.
In a bid to increase the competitiveness of local shipyards, South Korea’s export credit agency K-sure, has launched the K-sure covered bond programme – known as Ship Bond Insurance. According to K-sure officials the programme will lead to easier funding for shipowners.
The European Bank for Reconstruction and Development (EBRD) has agreed to provide a €54.5 million ($71.8 million) loan to the publicly-owned Budapesti Közlekedési Központ Zártkörűen Működő Részvénytársaság (BKK), for the development and implementation of a modern automated fare collection system for public transport users in Budapest
In a landmark transaction and development for Nigeria and West Afirca, Nigeria’s Dangote Industries has signed a medium-term $3.3 billion loan agreement with a consortium of both local and international banks to construct the biggest petroleum oil refinery and petrochemical/ fertiliser plants in Nigeria.
The Vietnam Oil and Gas Group (PetroVietnam) has signed a buyer’s credit financing with the Japan Bank for International Cooperation (JBIC) and commercial banks to finance the import of steam turbines and other equipment. The overall financing amounts to $141 million, of which JBIC
Denmark’s export credit agency Eksport Kredit Fonden (EKF) has teamed with PensionDanmark to secure finance for Danish equipment for a mine project in Armenia. The arrangement involves pension fund PensionDanmark which is making DK350 million ($62 million)
The Export-Import Bank of the United States (US Ex-Im) has approved a $105.4 million direct loan to Space Communication of Ramat Gan, Israel, to finance the Space Exploration Technologies (SpaceX) launch of the Amos-6 communications satellite, the purchase of US-made solar arrays, and insurance brokered by Marsh USA (Marsh).
The Inter-American Development Bank (IADB) has approved a $1.2 billion credit line to finance a programme to improve metropolitan railroads in Argentina. The bank also approved the first loan in the credit line for $300 million for the Plaza Constitución–La Plata branch of the General Roca Railroad,
Hong Kong-headquartered Pacific Basin Shipping (Pacific Basin) has secured post-delivery export credit agency (ECA) financing in respect of two handymax vessels. The two handymax vessels are already part of the Pacific Basin new-build fleet and scheduled to deliver by the end of 2013.
Kiev Metropolitan has unveiled new trains which will enter service this month on the city’s network in a project funded by the European Bank for Reconstruction and Development (EBRD). The EBRD is providing a €40 million ($53 million) loan to Kiev Metropolitan to finance the acquisition of up t
Rio Tinto has appointed a financial adviser for a new 450MW captive coal-fired power plant at its Oyu Tolgoi copper and gold mining project in Mongolia. Société Générale CIB (SG CIB) has been mandated to help in the bidding and financing of the captive power plant, which will supply electricity to the mine. Rio Tinto is expected to issue a request for proposals later this year and hopes to start construction of the power plant in 2014.
Project sponsor, Innergex Renewable Energy (Innergex) has closed the C$61.7 million ($59.7 million) non-recourse project financing for the 24.6MW Viger-Denonville Community Wind Farm located in Quebec, Canada. The financing has a tenor of 18-years, closely matching the duration of the contract to purchase electricity from the project.
KfW IPEX-Bank has signed a $79.50 million loan to finance a wind farm in Uruguay, in what is the bank’s first ever non-recourse financing in the Latin American country. The project finance loan has a tenor of 17-years and is to Akuo Energy. The funds will finance the erection
KfW IPEX-Bank and SEB (Frankfurt) have signed to provide financing for part of the development of the largest onshore European wind energy project Markbygden in the north of Sweden. The loan financing of €84.5 million ($112 million) for the sub-project Skogberget will be provided by both banks in equal shares. The loan has a tenor of 13.5 years.
German manufacturers providing equipment and services to the Sadara Chemical Company (Sadara), under construction in Jubail Industrical City II in the Eastern province of Saudi Arabia (TXF News 17 June 2013) are expected to provide supplies amounting to approximately $600 million - $700 million.
The Japan Bank for International Cooperation (JBIC) has today signed two loan agreements to help Japanese companies purchase interests in the Jimblebar Iron Ore Mine in Western Australia. The JBIC overall loan amounts to the equivalent of $793 million. The first loan is approximately $436 million from JBIC to Mitsui & Co Iron
The consortium contracted to build the Al Ghubrah Seawater Desalination Project in Oman has yesterday signed a project financing agreement with Sumitomo Mitsui Banking Corporation (SMBC), The Bank of Tokyo-Mitsubishi UFJ (BTMU) and The Japan Bank for International Cooperation (JBIC).
COSMOTE Romania – the country’s third-largest mobile operator and a subsidiary of the Hellenic Telecommunications Organisation (OTE), the Greek incumbent and leading south-east Europe telecom operator – has signed to receive a €225 million ($297 million) financing arranged
Brazilian oil company Petrobras has signed two financing programmes with the Japan Bank for International Cooperation (JBIC) for the offer of two lines of credit amounting to $1.5 billion.
Italy’s export credit agency Sace is guaranteeing loans in favour of Eskom Holdings (Eskom), the South African energy public utility wholly, related to some of the commercial contracts for the pump storage power plant of Ingula. The two loans, which cover part of the commercial works, amount to €300 million ($401 million).
The Export-Import Bank of the United States (US Ex-Im) has agreed to provide guarantees for a new financing package arranged for South Africa’s freight rail and logistics company Transnet for the purchase of 53 American-made General Electric (GE) locomotives.
International law firm Morgan Lewis has expanded its banking practice in Moscow with the recruitment of a team of eight from law firm Gide Loyrette Nouell. The group is led by partners Grigory Marinichev - the former head of the banking and finance and restructuring practices at Gide - and Konstantin Kochetkov, a leading project finance lawyer. A further six associates make up the remainder of the group.
Proparco has signed a $25 million senior loan to finance two solar power plants in the mining region in northern Chile. The two plants, developed and owned by Solarpack Chile, have a total capacity of 26.5MW and are Chile’s first operational solar projects of such a scale.
The Export-Import Bank of the United States (Ex-Im Bank) has authorised nearly $130 million in financing to support the export of Boeing aircraft and installed GE-90 engines to Ethiopian Airlines. The transaction will support an estimated 700 American
The European Bank for Reconstruction and Development (EBRD) is pledging to invest a further $50 million in new wind power projects in Mongolia. The announcement comes as the first commercial wind farm in Mongolia is connected to the electricity grid and is now generating electricity. The a 50MW Salkhit wind farm outside of the capital Ulaanbaatar was funded by debt and equity finance from the EBRD to the tune of $47 million.
Sadara Chemical Company (Sadara), Dow Chemical Company’s joint venture with Saudi Arabian Oil Company (Saudi Aramco), has signed the remaining debt financing related to its project financing for the Sadara integrated chemicals complex in Jubail Industrial City II, in the eastern province of the Kingdom of Saudi Arabia.
The Export-Import Bank of Korea (Kexim) has declared it will increase the amount of ship construction loans to be extended to domestic shipyards this year by KRW500 billion ($449 million) to KRW4 trillion ($1.8 billion) in order to bring relief to South Korea’s troubled shipbuilding industry.
The European Bank for Reconstruction and Development (EBRD) is arranging financing of a €4.2 million ($5.6 million) facility to construct and put into operation a 1.5MW biogas plant at the privately owned agribusiness company Ecoprod, located in the Donetsk region, in eastern Ukraine.
The debt financing for Vietnam’s Nghi Son Refinery and Petrochemical (NSRP) complex to be constructed in the Nghi Son Economic Zone in Thanh Hoa province, Vietnam has been signed. The overall project has an estimated cost of $9 billion
Turkey’s DenizBank has signed a $25 million credit line the Japan Bank for International Cooperation (JBIC), designed to support renewable energy and energy efficiency projects in Turkey. Under the arrangement, JBIC is providing $15 million, and in a co-financing transaction Mizuho Corporate Bank acting as
The Export-Import Bank of the United States (Ex-Im Bank) has authorised a $343.3 million direct loan to Asia Satellite Telecommunications (AsiaSat) to finance the purchase of two communications satellites designed and built by Space Systems/Loral (SSL) in Palo Alto, California.
The Japan Bank for International Cooperation (JBIC) has signed an untied loan agreement for a credit line amounting up to $90 million with State Bank of India (SBI), the largest state-owned commercial bank in terms of assets and incorporated in India.
The Asian Development Bank (ADB) has approved a $400 million loan to support the government of Pakistan's reforms to tackle the country’s chronic energy crisis which has crippled industries and caused social unrest.