TXF APAC Trade & Commodity Finance 2021
Join us while we are looking into the commodity finance sector for the Asia Pacific region. Connect with key players and hear about current and future deals.
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.
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
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.
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.
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.
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.
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.
Biwater, the UK-based engineering, water and wastewater company, has secured $43 million in project financing from Barclays to fund the construction of a seawater desalination plant, water storage and wastewater treatment facilities on Tortola, the largest and most populated island of the British Virgin Islands (BVI).
Saudi Arabian state-owned Saudi Electricity Company (SEC) has signed the first loans related to the development of the South Jeddah Power Project. The loans, signed in Tokyo amount to $366 million, and are co-financed between the Japan Bank for International Cooperation (JBIC) and commercial banks.
The Export-Import Bank of the United States (US Ex-Im) has given approval for a $694.4 million loan to Roy Hill Holdings of Australia to be used for the purchase of US-manufactured mining and rail equipment from Caterpillar, GE, and Atlas Copco.
Aureus Mining has signed the $88 million project finance loan facility agreement with the South African banks Nedbank Limited and Rand Merchant Bank (RMB). It has also signed a subordinated loan facility agreement for $12 million with RMB Resources.
The Export-Import Bank of the United States (US Ex-Im) and the Export Guarantee and Insurance Corporation (EGAP), the export credit agency of the Czech Republic, have pooled resources to back US and Czech power equipment exports to Israel.
The European Bank for Reconstruction and Development (EBRD) is supporting phase I of the construction and operation of a wind farm in North West Poland with a loan of up to PLN 301 million ($98.6 million). The investment will support Poland’s efforts to increase its generation of renewable energy.
Power company AES Gener, the Chilean subsidiary of US-based AES Corporation, and Chilean copper mining company Antofagasta Minerals (AMSA) have signed the financing agreement for the 531MW Alto Maipo hydro-electric power (HEP) project, east of Santiago in Chile.
The European Bank for Reconstruction and Development (EBRD) is providing a €40 million ($54.7 million) loan to Hrvatske Zeljeznice Infrastruktura (HZ Infrastructure), the Croatian national railway infrastructure company, for the acquisition of track maintenance machinery and to support the company’s restructuring programme.
Sumitomo Corporation in collaboration with GDF Suez and Abdullah Hamad Al Sagar & Bros have signed the project financing for the first phase of Kuwait's first independent public-private partnership (IPPP) - the Az-Zour North (AZN1) power and desalination project.
The Export-Import Bank of Korea (Kexim) has signed agreements for increased cooperation in third-country projects with three French organisations that occupy key positions in development finance, the oil industry, and commercial banking. The agreements are with development finance institution Proparco, oil major Total, and commercial bank Société Générale CIB (SG CIB).
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Russia’ power sector is to get a major boost with a 12-year, €100 million ($136 million) loan from the European Bank for Reconstruction and Development (EBRD)to assist with the modernisation of the power infrastructure in the Russian Far East. The borrower of record is RusHydro. The loan is the bank’s first power distribution project in its largest country of operation.
The Export-Import Bank of the United States (US Ex-Im) has come up with one of its largest direct loans to date under its direct lending programme – a $640.7 million direct loan to support the sale of US-manufactured oil refinery equipment to Turkey.
Russia’s Sberbank has signed its first export credit transaction with the Export-Import Bank of Hungary (Hungarian Exim), allowing for the export of Hungarian-manufactured equipment to Russia
The European Investment Bank (EIB) and Enel Green Power International, the financial and controlling holding company of international subsidiaries of the Enel Green Power Group, have closed a financing agreement for €200 million ($272 million) to partially cover investments for wind farms in the Banat and Dobrogea regions of Romania.
Indonesian state-owned port operator PT Pelabuhan Indonesia III (Pelindo III) has secured export credit agency-backed financing for the purchase of shipyard cranes from Konecranes of Finland.
Standard Chartered (StanChart) has structured and closed a S$45 million ($35.8 million) senior debt facility for United Envirotech Water (Changyi) Company (UE Water) to be used for a Chinese wastewater treatment plant. The offshore loan structure enable
Russia’s Inter RAO group is to receive funds from the European Bank for Reconstruction and Development (EBRD) to construct a gas-fired power station in Russia’s Sverdlovsk region, as part of a plan to help facilitate the switch away from using carbon fuels to generate electricity.
The Export-Import Bank of the United States (Ex-Im Bank) has approved a $61.1 million direct loan to Inversiones Eolicas de Orosi Dos (Orosi) to support the export of US-manufactured wind turbine generators to Costa Rica.
The differences between export credit agencies was a prevailing topic of conversation at the TXF ECA Finance conference in Paris
Eksport Kredit Fonden (EKF) and the Banco Nacional de Comercio Exterior (Bancomext), the export credit agencies of Denmark and Mexico respectively, have signed a cooperation agreement, designed to strengthen trade between Denmark and Mexico through the exchange of financial, economic, investment, markets and potential projects.
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 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.
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.
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 spoke to Alex Taylor, managing director, export and agency finance, EMEA, at Citi, at TXF’s recent ECA Finance Conference in Paris.
Gert Van Melkebeke of Belgian ECA Ducroire, tells TXF of the new forfaiting product they have developed, and how SMEs are using it.
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.
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.
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.