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NBAD looks to energy sector expansion with new appointment
NBAD looks to energy sector expansion with new appointment
Jonathan Bell
21 July 2014

The National Bank of Abu Dhabi (NBAD) is looking to expand its operations in the energy and resources sector, and has appointed Marc Mollema as the managing director and global head of energy and resources at NBAD. aims to expand its services to the sector.

EBRD arranges A/B loan for Turkey’s Ford Otosan
EBRD arranges A/B loan for Turkey’s Ford Otosan
Jonathan Bell
21 July 2014

The European Bank for Reconstruction and Development (EBRD) is providing a €140 million ($188.6 million) loan to leading Turkish commercial vehicle maker Ford Otomotiv Sanayi (Ford Otosan), to finance a far-reaching investment programme to develop high-tech truck engine parts and expand production capacity.

KfW IPEX finances new cruise ships for NCL
KfW IPEX finances new cruise ships for NCL
Jonathan Bell
16 July 2014

KfW IPEX-Bank has structured financing amounting to approximately €1.6 billion ($2.16 billion) for the construction of two new cruise ships for Miami-based Norwegian Cruise Line (NCL).

Lithuanian Railways secures funds through NIB
Lithuanian Railways secures funds through NIB
Jonathan Bell
15 July 2014

The Nordic Investment Bank (NIB) and the Lithuanian railway company AB Lietuvos gelezinkeliai have signed a new 18-year, €53 million ($71.6 million) loan agreement for the construction of a European-gauge track and the modernisation of the Trans European east-west corridors in Lithuania.

Philippines San Gabriel power plant gets Hermes-backed financing
Philippines San Gabriel power plant gets Hermes-backed financing
Jonathan Bell
11 July 2014

What is being branded as ‘the most efficient power plant in South-East Asia’ is to receive financing through a combination of loans from KfW IPEX-Bank and support from the German export credit agency Euler Hermes.

Afrexim and banks sign bridge facility for Abidjan port project
Afrexim and banks sign bridge facility for Abidjan port project
Jonathan Bell
11 July 2014

The African Export-Import Bank (Afreximbank), together with a syndicate of commercial banks, has arranged a €200 million ($271.9 million) syndicated bridge financing facility for Cote d’Ivoire’s state-owned Port Autonome d’Abidjan (PAA) to enable the company to expand facilities at the port of Abidjan.

Uruguayan wind farm gets direct US Ex-Im financing
Uruguayan wind farm gets direct US Ex-Im financing
Jonathan Bell
10 July 2014

The Export-Import Bank of the United States (US Ex-Im) is providing a $64.5 million direct loan to Astidey, in Montevideo, Uruguay, for the purchase of US-manufactured wind-turbine generators being exported by Gamesa Technology Corporation, headquartered in Feasterville-Trevose, Pennsylvania.

KfW IPEX arranges major export finance for Siemag equipment to US
KfW IPEX arranges major export finance for Siemag equipment to US
Jonathan Bell
9 July 2014

KfW IPEX-Bank has signed a $794 million loan with ~Big River Steel^, a company based in Arkansas, US, for the development of a new sheet ste

KfW IPEX-Bank finances UK’s Crook Hill wind project
KfW IPEX-Bank finances UK’s Crook Hill wind project
Jonathan Bell
7 July 2014

KfW IPEX-Bank is providing a loan of £56.5 million ($96.8 million) for the Crook Hill Wind Farm project, north of Rochdale in east Lancashire, UK. The bank is acting as sole mandated lead arranger.

Saudi’s Maaden signs phosphate mine financing
Saudi’s Maaden signs phosphate mine financing
Jonathan Bell
2 July 2014

Ma’aden Wa’ad Al-Shamal Phosphate Company (MWSPC), an affiliate of the Saudi Arabian Mining Company (Maaden) has signed loan facilities for a total of SR18.9 billion ($5 billion) to develop MWSPC’s phosphate project which is being constructed at sites in Wa’ad Al Shamal and the existing Ras Al-Khair Industrial City.

KfW IPEX arranges financing for Quebec wind farms
KfW IPEX arranges financing for Quebec wind farms
Jonathan Bell
1 July 2014

KfW IPEX-Bank has arranged a total of C$206.8 million ($194.5 million) through two loan packages to finance the Témiscouata I and Témiscouata II wind farms in Québec, Canada. The borrowers are Boralex Incorporated (Boralex) and Témiscouata Regional County Municipality (RCM).

Saudi’s Mobily signs vendor financing deal with EDC
Saudi’s Mobily signs vendor financing deal with EDC
Jonathan Bell
30 June 2014

Saudi Arabian telecommunications company Mobily has signed a $200 million (SR750 million) long-term vendor financing agreement with Canada’s export credit agency Export Development Canada (EDC). The agreement carries no corporate guarantee.

MIGA insures loan for Kenyan power station
MIGA insures loan for Kenyan power station
Jonathan Bell
30 June 2014

The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, is to provide insurance for a loan to independent power producer (IPP) Gulf Power Limited, as part of the institutions support for improvement in Kenya’s power sector

Case study: Financing Santo Domingo’s Metro
Case study: Financing Santo Domingo’s Metro
Silke Kleemann
27 June 2014

As the most extensive urban metro system in the Caribbean and only the second in existence, Santo Domingo’s Metro is an ambitious programme to modernise transport infrastructure in the Dominican Republic’s capital city.

Finnvera gets expanded scope to support export financing
Finnvera gets expanded scope to support export financing
Jonathan Bell
27 June 2014

Finnish export credit agency (ECA), Finnvera, has announced that in future it will have better possibilities to participate in the export-related financing arrangements of Finnish companies.

Ex-Im: US facing ‘unprecedented levels of competition’
Ex-Im: US facing ‘unprecedented levels of competition’
Hesham Zakai
26 June 2014

An aggressive ramping up of export credit activity by major ECAs and the increasing participation by non-OECD members in the financing space traditionally occupied by the Export-Import Bank of the United States (US Ex-Im) is threatening the country’s competitiveness on the world stage, according to a report by US Ex-Im.

Mitsubishi gets JBIC loan for Peruvian copper purchase
Mitsubishi gets JBIC loan for Peruvian copper purchase
Jonathan Bell
25 June 2014

Japan’s largest trading company, Mitsubishi Corporation, has secured a $390 million direct loan from the Japan Bank for International Cooperation (JBIC) to partially finance the company’s acquisition of shares in a Peruvian copper mine project.

Mizuho and JBIC combine for Indonesian hydro project
Mizuho and JBIC combine for Indonesian hydro project
Jonathan Bell
25 June 2014

Mizuho Bank and the Japan Bank for International Cooperation (JBIC) have combined to provide financing for the Rajamandala Hydro Power Plant Project in Indonesia.

AfDB approves loan for Nigerian refinery and fertiliser plant
AfDB approves loan for Nigerian refinery and fertiliser plant
Jonathan Bell
17 June 2014

The African Development Bank (AfDB) has approved a loan of $300 million to Nigeria’s Dangote Industries for the construction and operation of a greenfield crude oil refinery and a greenfield fertiliser manufacturing plant.

Strong optimism over ECA finance activity, TXF survey finds
Strong optimism over ECA finance activity, TXF survey finds
Hesham Zakai
17 June 2014

TXF conducted a survey of participants at the ECA/DFI Finance Conference in Paris earlier this month, for the second consecutive year. Here are the results.

Sberbank and Exiar team for largest Slovakian deal yet
Sberbank and Exiar team for largest Slovakian deal yet
Jonathan Bell
16 June 2014

Sberbank Group and the Russian export credit agency, Export Insurance Agency of Russia (Exiar), have teamed to provide overall dual currency financing of €870 million ($1.18 billion) to Slovakian energy company Slovenské elektrárne (a subsidiary of the Enel Group).

KfW IPEX finances equipment for Turkey’s Kardemir
KfW IPEX finances equipment for Turkey’s Kardemir
Hesham Zakai
13 June 2014

Germany’s KfW IPEX - Bank is financing the export of equipment to Turkey’s steel manufacturer Kardemir with an ECA-covered loan of €140 million ($190 million).

Intesa Sanpaolo and Sace combine to expand trade with China
Intesa Sanpaolo and Sace combine to expand trade with China
Jonathan Bell
10 June 2014

Intesa Sanpaolo and Italian export credit agency Sace have signed an agreement to jointly support the export and internationalisation of projects in China being undertaken by Italian small- to medium-sized enterprises (SMEs), with the provision of €100 million ($136.3 million) in funding.

Konecranes wins landmark Indonesian export order
Konecranes wins landmark Indonesian export order
Jonathan Bell
10 June 2014

Finland’s Konecranes has won a landmark export order with Indonesian state-owned port operator PT Pelabuhan Indonesia III (Pelindo III) for 11 automated rubber tired gantry (ARTG) cranes to expand capacity at Tanjung Emas Port container terminal in Semarang (TPKS), central Java.

Photos from TXF's ECA/DFI Finance in 2014
Photos from TXF's ECA/DFI Finance in 2014
Katy Rose
10 June 2014

Last week in Paris, TXF welcomed close to 400 exporters, borrowers, ECA's, DFI's, banks and law firms to their second edition ECA/DFI Finance event.

EBRD and FMO to finance Georgia’s Wissol Petroleum through A/B structure
EBRD and FMO to finance Georgia’s Wissol Petroleum through A/B structure
Jonathan Bell
6 June 2014

The European Bank for Reconstruction and Development (EBRD) has arranged a $65 million syndicated loan to its longstanding client, Wissol Petroleum Georgia (Wissol) to support the expansion of gas filling stations in Georgia that offer compressed natural gas (CNG), an environmentally-friendly alternative to conventional fuels.

Gamesa secures landmark financing from China’s CMBC
Gamesa secures landmark financing from China’s CMBC
Jonathan Bell
5 June 2014

In a landmark deal, Spanish wind turbine manufacturer Gamesa – which also has a presence in China, has become the first foreign original equipment manufacturer (OEM) to secure financing from a Chinese bank.

KfW IPEX finances a second cruise ship for Star Cruises
KfW IPEX finances a second cruise ship for Star Cruises
Jonathan Bell
5 June 2014

KfW IPEX-Bank has arranged a loan of over €600 million ($815.3 million) to finance the construction of a second cruise ship for Star Cruises/Genting Hong Kong, the leading cruise line in the Asia-Pacific market. The vessel will be built at Meyer Werft shipyard in Papenburg, Germany.

India’s JSW Steel receives Japanese ECA support
India’s JSW Steel receives Japanese ECA support
Jonathan Bell
2 June 2014

The Japan Bank for International Cooperation has signed two buyer's credit agreements with JSW Steel Limited (JSW Steel) in India, each totaling up to ¥3 billion ($29.3 million) and $30 million (JBIC portions), respectively.

Banks arrange finance for Hong Kong’s TCC bulk carriers from Japan
Banks arrange finance for Hong Kong’s TCC bulk carriers from Japan
Jonathan Bell
2 June 2014

Hong Kong headquartered Tai Chong Cheang Steamship Group (TCC Group) has secured financing amounting to $47.7 million to finance the purchase of two bulk carriers from Japanese shipyards.

JB's weekly round-up - 30 May 2014
JB's weekly round-up - 30 May 2014
Jonathan Bell
30 May 2014

The great and good of Spain’s export finance community met for an informal roundtable in Madrid yesterday. The meeting, jointly hosted by TXF and Cesce – the Spanish export credit agency (ECA), featured participation from the government, large and small exporters, and leading Spanish and international banks.

Sace guarantees HSBC loan for Italian exports to Oman’s Sohar project
Sace guarantees HSBC loan for Italian exports to Oman’s Sohar project
Jonathan Bell
28 May 2014

Italy’s export credit agency, Sace, has guaranteed a $100 million export credit issued by HSBC in favour of Orpic (Oman Oil Refineries and Petroleum Industries Company), a company owned by the Omani government.

UKEF: From ‘dark days’ to new dawns
UKEF: From ‘dark days’ to new dawns
Hesham Zakai
27 May 2014

Hesham Zakai talks with David Godfrey, chief executive officer of UK Export Finance, about the turnaround which the agency has undergone in the last five years.

Asia-Pacific regional heads roundtable
Asia-Pacific regional heads roundtable
Jonathan Bell
27 May 2014

TXF talks with several Asia-Pacific heads of export finance about trends and prospects for the business line in the region.

SMBC plays to its strengths
SMBC plays to its strengths
Jonathan Bell
27 May 2014

Jonathan Bell talks with Jonathan Joseph-Horne, head of export & agency finance for EMEA within the global trade finance department, Sumitomo Mitsui Banking Corporation Europe (SMBCE), about the ever-changing profile of the export finance market.

Why do we need the ECAs?
Why do we need the ECAs?
Charles Berry
27 May 2014

In this article, Charles Berry, Chairman, BPL Global, argues that, increasingly, the ECAs are needed to provide additional capacity for risks for which there is market appetite, not because the ECAs have an appetite for business that is too high risk for the private sector.

Intricacies of ECA-financed seaborne cargo
Intricacies of ECA-financed seaborne cargo
Valerie Colville
27 May 2014

Commonality among export credit agencies can be found in procurement of home country goods and services, the heart of this type of financing.

UK exporters get additional tools
UK exporters get additional tools
Jonathan Bell
27 May 2014

TXF examines the recently launched export refinancing facility by UKEF.

Asian shipbuilders push the boat out
Asian shipbuilders push the boat out
Jonathan Bell
27 May 2014

Jonathan Bell examines the renaissance of shipbuilding in Asia in a sector assisted by the demand for specialised vessels.

India Exim signs loan for Nigerian energy projects
India Exim signs loan for Nigerian energy projects
Jonathan Bell
23 May 2014

The Export-Import Bank of India (India Exim) has signed a $100 million line of credit agreement with the Nigerian government for the financing of three energy projects in the provision of electricity transformers for solar electrification in rural areas.

AfDB and China announce joint fund for African projects
AfDB and China announce joint fund for African projects
Jonathan Bell
22 May 2014

The African Development Bank (AfDB) and the People’s Bank of China (PBoC) have entered into a $2 billion co-financing fund to be known as the Africa Growing Together Fund (AGTF).

Northland secures record offshore wind farm financing
Northland secures record offshore wind farm financing
Hesham Zakai
19 May 2014

Canadian power-producer Northland Power has reached financial close for its Project Gemini wind farm at €2.8 billion ($3.8 billion), making it the largest project financing for an offshore wind farm to date.

JB's weekly round-up - 19 May 2014
JB's weekly round-up - 19 May 2014
Jonathan Bell
19 May 2014

With a week and a half to go, our Paris conference on ECA/DFI Finance has almost sold out. We’re overwhelmed by the support we’ve received from the market and are now looking forward to two days of great content and even better networking, including Dan’s morning running club and erm…yoga with Dom?

AfDB approves major loan for Angolan energy sector
AfDB approves major loan for Angolan energy sector
Jonathan Bell
15 May 2014

The African Development Bank (AfDB) has approved a $1 billion loan for the Angola Power Sector Reform Support Programme.

Sweden’s SEK and China’s BoC sign ‘green’ export finance facility
Sweden’s SEK and China’s BoC sign ‘green’ export finance facility
Jonathan Bell
14 May 2014

Swedish Export Credit Corporation (SEK) and Bank of China (BoC) have entered into a €100 million master export credit facility agreement specifically related to the financing of environmental projects and Swedish clean technology.

Educating Decision Makers About Country Risk
Educating Decision Makers About Country Risk
Daniel Wagner
13 May 2014

At a board meeting of a top 20 multinational corporation, the question of whether to invest $50 million in a project in a Middle Eastern Country was discussed. The president of the company subsidiary seeking the board’s approval insisted that the country was a safe place to invest because of its recent history

China Exim to fund Kenyan port rail link
China Exim to fund Kenyan port rail link
Jonathan Bell
12 May 2014

The Chinese and Kenyan governments have signed an agreement whereby Chinese contractors will build a new rail link between the Indian Ocean port of Mombasa and the Kenyan capital Nairobi. The project is estimated to cost $2.6 billion, and the Export-Import Bank of China (China Exim) has been positioned as the principal financing entity.

MIGA and IFC approve Nigerian energy loans
MIGA and IFC approve Nigerian energy loans
Jonathan Bell
7 May 2014

MIGA and the IFC have approved a package of loans and guarantees supporting a series of energy projects that will help boost independent power generation and ease crippling energy shortages in Nigeria.

SG makes senior appointments within export finance
SG makes senior appointments within export finance
Jonathan Bell
6 May 2014

Société Générale Corporate & Investment Banking (SG CIB) has promoted Isabelle Roux-Sharpe as the new head of the export finance business units and project team. The appointment is effective since 1 May 2014.

Sohar Refinery financing closes
Sohar Refinery financing closes
Jonathan Bell
5 May 2014

Orpic (Oman Oil Refineries and Petroleum Industries Company) and a consortium of 21 international and national financial institutions have signed a $2.8 billion umbrella loan arrangement for Orpic’s projects including the Sohar Refinery Improvement Project (SRIP) which will be 65% debt financed.