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Wells Fargo and US Ex-Im combine to finance US exports to Singapore
Wells Fargo and US Ex-Im combine to finance US exports to Singapore
Mayur Pande
14 November 2013

Wells Fargo and the Export-Import Bank of the United States (US Ex-Im) have combined to arrange financing to support US exports of compressor equipment to Singapore. The export sale is worth approximately $7 million.

Deutsche arranges EKN-backed loan for Korea’s SK Telecom
Deutsche arranges EKN-backed loan for Korea’s SK Telecom
Jonathan Bell
14 November 2013

Deutsche Bank has signed a $97.92 million term loan facility with South Korea’s SK Telecom Company (SKT) to finance purchases by SKT from Sweden’s Ericsson-LG.

Sberbank and Kexim renew cooperation pact
Sberbank and Kexim renew cooperation pact
Mayur Pande
13 November 2013

Russia’s Sberbank and the Export-Import Bank of Korea (Kexim) have signed a new cooperation agreement relating to the long-term Financing of projects for the amount of $1.5 billion. The agreement was signed by Yong Hwan Kim, chairman of Kexim, and Andrey Ivanov, head of trade finance and correspondent relations at Sberbank.

“There is open competition between the ECAs” - Simon Sayer video
“There is open competition between the ECAs” - Simon Sayer video
Dan Sheriff
12 November 2013

TXF caught up with Simon Sayer, managing director, structured trade and export finance, EMEA at Deutsche Bank at our recent ECA Finance conference in Paris.

“We are seeing pricing that works for investors” - Alex Taylor video
“We are seeing pricing that works for investors” - Alex Taylor video
Dan Sheriff
12 November 2013

We spoke to Alex Taylor, managing director, export and agency finance, EMEA, at Citi, at TXF’s recent ECA Finance Conference in Paris.

“More ECAs should put more effort into supporting SMEs” - Gert Van Melkebeke video
“More ECAs should put more effort into supporting SMEs” - Gert Van Melkebeke video
Dan Sheriff
12 November 2013

Gert Van Melkebeke of Belgian ECA Ducroire, tells TXF of the new forfaiting product they have developed, and how SMEs are using it.

AfDB signs loan for Namibian container terminal
AfDB signs loan for Namibian container terminal
Mayur Pande
11 November 2013

The African Development Bank Group (AfDB) has signed a ZAR2.9 billion ($338 million) loan to the Nambian Ports Authority (Namport) to finance the construction of the new container terminal at the Port of Walvis Bay in Namibia. The loan is backed by a sovereign guarantee from the government of Namibia. The AfDB is also providing a $1.5 million logistics and capacity building grant complementing the port project loan.

Russian banks organise syndicated loan for Quadra
Russian banks organise syndicated loan for Quadra
Jonathan Bell
11 November 2013

Russia’s Gazprombank and Sberbank have jointly arranged a RUB10 billion ($307.2 million) syndicated credit line for Quadra – Power Generation (JSC Quadra), with the first tranche being drawn. Quadra will use the funds to finance its investment programme to construct new generating facilities under contracts for providing electric power to the wholesale electricity market.

Sevan Drilling closes and draws down financing arranged by ING
Sevan Drilling closes and draws down financing arranged by ING
Jonathan Bell
8 November 2013

International drilling contractor Sevan Drilling has also closed and drawn down $1.4 billion of its new $1.75 billion bank facility. The funds relate to the delivery in late October of the company’s latest rig Sevan Louisiana from the Cosco Quidong Shipyard (Cosco) in China, as well as payment for two other rigs.

Infrastructure surge will boost global trade
Infrastructure surge will boost global trade
Jonathan Bell
8 November 2013

TXF looks at two recent reports, one from HSBC and one from the IADB, which focus on infrastructure trade and infrastructure investment as vital cogs in the health of the global economy.

IADB signs loans for Suriname’s electricity sector
IADB signs loans for Suriname’s electricity sector
Mayur Pande
7 November 2013

The Inter-American Development Bank (IADB) has sign two loans totalling $40 million to support Suriname’s electricity generation and power sector. The loans have been approved under the Flexible Financing Facility of the IADB

Sace and UniCredit combine for Bosnian silicon plant
Sace and UniCredit combine for Bosnian silicon plant
Jonathan Bell
7 November 2013

UniCredit has signed a €30 million ($40.2 million) structured financing with Italian metals producer Metalleghe Group for a new silicon metal production plant in Bosnia- Herzegovina.

DFIs combine for sustainable forestry in LatAm
DFIs combine for sustainable forestry in LatAm
Phoebe Robertson
1 November 2013

Development finance institutions (DFIs) have combined to provide an overall financing facility of $69 million for a sustainable forestry project in Latin America (LatAm).

KfW finances exports to Indian petrochem sector
KfW finances exports to Indian petrochem sector
Mayur Pande
31 October 2013

KfW IPEX-Bank is providing a €55 million ($75 million) loan to finance German equipment supplies for the expansion of the petrochemical complex of Gail India Limited (GAIL) in Pata (Uttar Pradesh).

Uralkali secures first ECA-backed facility
Uralkali secures first ECA-backed facility
Dan Sheriff
30 October 2013

Uralkali, the Russian potash producer, has signed its first ever ECA-backed transaction. The $236 million (€171.4 million) financing will fund the construction of two vertical shafts at the Ust-Yayvinsky mine

Standard Bank signs financing for Kenyan wind power
Standard Bank signs financing for Kenyan wind power
Mayur Pande
28 October 2013

Standard Bank has signed a ground-breaking deal with independent power producer Aeolus Kenya (AKL), to build a $150-million wind power plant in Kenya. The 60.8MW Kinangop Wind Park project will be largest wind power generation farm in sub-Saharan Africa to date. The wind power plant will be built in Kinangop Plateau in central Kenya.

UniCredit Leasing Russia receives EBRD loan
UniCredit Leasing Russia receives EBRD loan
Jonathan Bell
28 October 2013

The EBRD is lending RUB1.7 billion ($53.4 million) to UniCredit Leasing Russia (UCLR) – one of the country’s top leasing companies, with nationwide coverage. The company will use the loan to finance new leases to energy efficiency projects, particularly to UCLR’s small and medium-sized enterprise (SME) clients in industry and agriculture, including those located outside the Moscow region.

Ghana TEN FPSO ship financing secured
Ghana TEN FPSO ship financing secured
Jonathan Bell
24 October 2013

Project financing has been secured for a floating production, storage, and offloading system (FPSO) for use in the Tweneboa, Enyenra, Ntomme (TEN) oil fields offshore Ghana

Kenya’s Triumph Power signs debt package for power plant
Kenya’s Triumph Power signs debt package for power plant
Jonathan Bell
24 October 2013

Standard Bank and the Industrial and Commercial Bank of China (ICBC) have signed a $108 million debt financing package with Triumph Power generating Company Kenya for the construction of an 83MW heavy fuel oil plant in the East African nation. The project has also secured bespoke political risk guarantees from the World Bank's Multilateral Investment Guarantee Agency (MIGA).

Garuda and StanChart complete delivery under SLB agreement
Garuda and StanChart complete delivery under SLB agreement
Jonathan Bell
23 October 2013

National flag carrier Garuda Indonesia has taken delivery of the final six Boeing 737-800 Next Generation (NG) aircraft under a previously inked 10-year sale and leaseback (SLB) agreement with Standard Chartered Bank (StanChart).

Coface to provide guarantee for Brazil-US cable project
Coface to provide guarantee for Brazil-US cable project
Jonathan Bell
22 October 2013

French export credit agency (ECA) Coface has agreed to provide export credit guarantees to Seaborne Networks for the Seabras-1 submarine telecommunications cable that will run between New York and Sao Paulo in Brazil. The French ECA has issued a ‘promise of guarantee’ on the buyer credit as the first stage of this process, conditional of certain closing conditions.

CDB and China Exim extend credit lines to VEB
CDB and China Exim extend credit lines to VEB
Jonathan Bell
22 October 2013

China Development Bank (CDB) has agreed to provide facilities of up to $1.2 billion to Russian state-owned Vnesheconombank (VEB) during a regular meeting of Russian and Chinese heads of state.

Kexim support for Iraqi gas field project
Kexim support for Iraqi gas field project
Mayur Pande
18 October 2013

The Akkas Gas Field Project in Iraq, where South Korea’s Daewoo Engineering & Construction (Daewoo E&C) is working, is to receive $117 million in guarantees from the Export-Import Bank of Korea (Kexim). The project, which is partly sponsored by Kogas Akkas, a special-purpose vehicle set up by Korea Gas Corporation, involves the construction of a central processing facility at the Akkas Gas Field in Anbar Province, Iraq.

Deutsche and Sace team for Brazilian JBS deal
Deutsche and Sace team for Brazilian JBS deal
Jonathan Bell
18 October 2013

Deutsche Bank and Italy’s export credit agency Sace have teamed to provide a €42 million ($57.5 million) export credit package to the Brazilian multinational company JBS. The transaction will support the export of Italian leather production equipment and technology to JBS in Brazil.

Nexi backs acquisition of Argentine lithium project
Nexi backs acquisition of Argentine lithium project
Jonathan Bell
16 October 2013

Japan’s Nippon Export and Investment Insurance (Nexi) is providing overseas investment insurance for an investment made by Toyota Tsusho Corporation through its subsidiary, to acquire an interest in the Salar de Olaroz lithium resources development project in Argentina.

JBIC and Morocco’s BMCE sign credit agreement
JBIC and Morocco’s BMCE sign credit agreement
Mayur Pande
15 October 2013

The Japan Bank for International Cooperation (JBIC) has signed a $100 million credit line agreement with Morocco’s Banque Marocaine du Commerce Extérieur (BMCE Bank), to support sales of Japanese machinery and equipment within the region.

Sace and Exiar extend partnership
Sace and Exiar extend partnership
Jonathan Bell
11 October 2013

The Russian export credit agency, Exiar, has today announced further collaboration with its Italian counterpart, Sace. This follows on from an initial memorandum of understanding penned in February 2012.

EBRD co-finances wind farms in Poland
EBRD co-finances wind farms in Poland
Jonathan Bell
9 October 2013

The European Bank for Reconstruction and Development (EBRD) is providing a long-term (see below) loan of up to PLN292 million ($94.3 million equivalent) to a group of three special-purpose companies fully owned by Polish Energy Partners (PEP) for the construction of three wind farms in Poland.

Chilean ship company secures Korean export credit
Chilean ship company secures Korean export credit
Jonathan Bell
8 October 2013

Chilean shipping company Compania Sud Americana de Vapores (CSAV) has secured export credit financing with a consortium of banks and Korean agencies to support the purchase of seven new container ships from South Korean shipyards.

Sberbank and JBIC sign export credit financing agreement
Sberbank and JBIC sign export credit financing agreement
Jonathan Bell
7 October 2013

Russia’s Sberbank has signed a general financing agreement with Japan Bank for International Cooperation (JBIC), under which financing amounting to $600 million will be available from Japanese institutions. The funds will be used by Sberbank to onlend to Russian companies for the financing of imports of equipment, machinery and services from Japan for projects in Russia and neighbouring countries.

Afrexim signs loan for Senegal’s GFM imports
Afrexim signs loan for Senegal’s GFM imports
Mayur Pande
4 October 2013

The African Export-Import Bank (Afrexim) has extended a €18.2 million ($24.7 million) credit facility to Senegal-based Groupe Futurs Media (GFM) for the import and installation of packaging equipment.

ADB provides loan for Indian energy transmission
ADB provides loan for Indian energy transmission
Jonathan Bell
1 October 2013

The Asian Development Bank (ADB) is providing $500 million to build a power transmission system needed to deliver clean electricity from wind and solar power projects in Rajasthan in northwest India to the state and national grids.

EBRD provides boost for Macedonian air traffic control
EBRD provides boost for Macedonian air traffic control
Mayur Pande
27 September 2013

The European Bank for Reconstruction and Development (EBRD) has agreed to provide a €11.15 million ($15 million) loan to the Macedonian Air Navigation Service Provider (M-NAV) for the modernisation and upgrade of the company’s air navigation equipment.

Ukraine solar project gets EBRD backing
Ukraine solar project gets EBRD backing
Dan Sheriff
25 September 2013

The European Bank for Reconstruction and Development (EBRD) has agreed to provide a €5.4 ($7.3 million) financing package to Teplodar PiVi in the Odessa region of Ukraine for the development, construction and operation of a 4.2 MW solar power plant.

EBRD arranges A/B loan for Faurecia
EBRD arranges A/B loan for Faurecia
Mayur Pande
24 September 2013

The European Bank for Reconstruction and Development (EBRD) has arranged an A/B loan structure to support the planned expansion of Faurecia, a leading global automotive components producer, in four EBRD countries of operations.

Direct US Ex-Im loans for solar exports to Abengoa
Direct US Ex-Im loans for solar exports to Abengoa
Mayur Pande
23 September 2013

The Export-Import Bank of the United States (US Ex-Im) is to provide two direct loans totaling $33.6 million to the Spanish company Abengoa, to facilitate the export of US solar power related equipment. This latest solar export loan comes as part of the agency’s renewables energy drive.

BNPP and KfW arrange Indonesian cement plant finance
BNPP and KfW arrange Indonesian cement plant finance
Jonathan Bell
20 September 2013

BNP Paribas (BNPP) and KfW IPEX-Bank have arranged and signed export credit financing amounting to $98 million for the construction of the Tuban 2 cement plant in Indonesia.

Höegh LNG signs facility for Lampung FSRU
Höegh LNG signs facility for Lampung FSRU
Jonathan Bell
18 September 2013

Höegh LNG Holdings has agreed a $310 million limited recourse finance facility with five banks for the financing of the Lampung LNG Floating Storage and Regasification Unit (FSRU) and mooring project in Indonesia.

EBRD signs loan for Ukrainian wind
EBRD signs loan for Ukrainian wind
Mayur Pande
17 September 2013

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.

U-Ming secures JBIC and Citi co-financing
U-Ming secures JBIC and Citi co-financing
Mayur Pande
16 September 2013

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.



Nedbank and Rand to fund New Liberty Gold
Nedbank and Rand to fund New Liberty Gold
Jonathan Bell
16 September 2013

South African banks Nedbank and Rand Merchant Bank are to provide Aureus Mining with a $100 million debt financing package to develop its flagship New Liberty Gold project in Liberia.

Spain’s Telefonica closes Finnvera-backed loan for Nokia equipment
Spain’s Telefonica closes Finnvera-backed loan for Nokia equipment
Mayur Pande
13 September 2013

Telefonica, the Spanish telecommunications company, has closed the ECA-backed financing for the purchase of infrastructure equipment from Finland’s Nokia Solutions and Networks.

K-sure launches new bond insurance scheme for shipyards
K-sure launches new bond insurance scheme for shipyards
Jonathan Bell
11 September 2013

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.

EBRD loan for Budapest public transport
EBRD loan for Budapest public transport
Jonathan Bell
6 September 2013

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

Dangote secures mega-loan for Nigerian refinery
Dangote secures mega-loan for Nigerian refinery
Jonathan Bell
6 September 2013

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.

PetroVietnam signs buyer credit for steam turbines
PetroVietnam signs buyer credit for steam turbines
Jonathan Bell
29 August 2013

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

EKF teams with pension fund for Armenia mine finance
EKF teams with pension fund for Armenia mine finance
Dan Sheriff
26 August 2013

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)

US Ex-Im grants new direct loan for SpaceX launch
US Ex-Im grants new direct loan for SpaceX launch
Jonathan Bell
23 August 2013

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).

IADB provides loan for Buenos Aires rail system
IADB provides loan for Buenos Aires rail system
Dan Sheriff
16 August 2013

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,

Pacific Basin Shipping secures export credit financing
Pacific Basin Shipping secures export credit financing
Mayur Pande
16 August 2013

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.