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.
A joint statement from seven multilateral financial institutions (MFIs) and development finance institutions (DFIs) puts pressure on the World Trade Organisation (WTO) to further assist in global trade with the establishment of a trade facilitation programme.
The Korean export credit agency (ECA), the Export-Import Bank of Korea (Kexim) has successfully issued global bonds worth $1 billion to investors worldwide. The foreign currency funds obtained through the bond issue will go to supporting the export finance activities of Kexim and the globalisation of Korea’s strategic industries including industrial plants, shipbuilding, resource development, and other industries.
Nordea has selected Surecomp’s trade finance solution suite for its global trade operations. Under the deal, Nordea has licensed IMEX, Surecomp’s world-leading trade finance back-office platform, allNETT, Surecomp's web-based trade finance front-end and SCF-PRO, Surecomp’s supply chain finance solution.
John McAdams, formerly of US-Ex-Im, has been appointed as the CEO of ExWorks Capital, a newly formed joint venture between Interlink Capital Strategies and RedRidge Finance Group*. The company offers export trade financing solutions to underserved US exporters and international buyers using US Ex-Im Bank loan guarantees and insurance.
Carole Berndt has now started as the new global head of transaction services at The Royal Bank of Scotland (RBS). She is be based in London and reports to John Owen, CEO, international banking. Berndt joins RBS from Bank of America Merrill Lynch (BAML) where she was EMEA head of transaction banking, a role she has held for over three years. Before BAML she spent nearly 10 years working in transaction banking with Citi, holding a variety of roles in both Hong Kong and New York.
Federated Investors (Federated), one of the largest investment managers in the United States, has expanded capabilities in trade finance and emerging-market debt with new personnel at its London office. Federated has hired three investment professionals specialising in trade-finance strategies and two specialists in emerging-market strategies for the UK office.
Russia’s Promsvyazbank (PSB) has signed one-year, dual-tranche loan facility agreement with a syndicate of international banks, amounting to a total of $300 million.
Daniel Riordan, CEO of Zurich Global Corporate North America is the first Berne Union president elected from the private market for thirty years. He talks about how private insurers have become increasingly involved in the export credit space, what risk models they have had to get used to, and the new capacity they can bring.
Daniel Riordan, CEO of Global Corporate, Zurich North America has been elected president of the Berne Union – the international association of export credit insurers. He is the first representative of a private insurer to be elected president in 30 years.
Rudolf Scholten, Co-Chairman at OeKB, the Austrian export credit agency, tells Joanthan Bell of TXF that he fears a level playing field amongst OECD and non-OECD based corporates may still be some way off.
Atradius managing director and outgoing Berne Union president Johan Schrijver tells TXF editor-in-chief Jonathan Bell of the pressures that ECAs are placed under, the challenges when putting together finance on larger projects, and an increasingly scientific approach to underwriting.
CIT Capital Market, a leading provider of financing and advisory services to small businesses and middle market companies, has acted as lead arranger in a $110 million financing for fashion retailer Joe’s Jeans, to finance the acquisition of Hudson Clothing Holdings, a leading global designer and marketer of premium branded denim apparel.
The European Bank for Reconstruction and Development (EBRD) is providing funds to Garanti Bank and Yapi Kredi of Turkey to help small and medium-sized company (SME) lending within the country.
Standard Chartered Bank (StanChart) has successfully completed a RMB2.5 billion ($408.4 million) cross-border lending deal for the international mobile broadband corporation Nokia Siemens Networks in China (NSN China).
Société Générale (SG) has appointed Benoit Desserre as head of payments and cash management within the global transaction banking (GTB) division. He replaces Alain Grugé who has been appointed as a regional head of SG retail bank in France.
The European Bank for Reconstruction and Development (EBRD) is to provide a €60 million ($81.6 million) loan to Turkey’s Sekerbank, as part of a programme to assist agribusiness and enterprises led by women.
Peter Knodt, Global Head of Trade Finance Financial Institutions at Deutsche Bank talks collaboration, relationships and adapting to changing global trade flows.
Markus Wohlgeschaffen, Head of Global Trade Finance and Services at Unicredit talks BPO, technological innovation and multi-bank platforms with Jonathan Bell, Editor-in-Chief, TXF.
Stanbic IBTC Bank, a member of Stanbic IBTC Holdings, has signed a collaboration pact with Tata Africa Services and John Deere Financial, whereby Stanbic IBTC Bank will provide a range of financial services to customers of the US’s John Deere within Nigeria’s agricultural sector
There appears to be plenty of personnel movements in the trade finance sector at the present time – some of these we are able to write about, while others are, shall we say, sensitive at the present time. The good thing about all this is that institutions are hiring – and the signs are that, at least in some sectors, the market is picking up.
Michael Spiegel, Global Head, Trade Finance and Cash Management at Deutsche Bank speaks to Jonathan Bell of TXF and speculates that supply chain finance may be reaching a tipping point, in part due to an increased desire amongst corporates to ensure the stability of suppliers post-crisis.
The Eastern and Southern African Trade and Development Bank (PTA Bank) has received a cash injection form the African Development Bank (AfDB), which is designed to boost trade and economic development activities of PTA Bank.
Werner Steinmueller, Global Head of Transaction Banking at Deutsche Bank talks trade trends with Jonathan Bell, Editor in Chief at TXF News.
The Industrial and Commercial Bank of China (ICBC) has provided more than ZAR180 million ($18.2 million) financing to a 27MW wind project near Nelson Mandela Bay, Eastern Cape, South Africa. The loan is the Chinese bank’s first rand-denominated transaction ever.
The Export-Import Bank of the United States (US Ex-Im) has recruited Claudia Slacik as chief banking officer and senior vice president for export finance. She joins US Ex-Im with more than 30 years of experience in the financial industry.
We are pleased to bring you the TXF Trade and Supply Chain Finance Special Report 2013. The report, which is part of our Trade and Supply Chain Finance Series
EKN, Sweden’s export credit agency (ECA) has signed a cooperation agreement with Mexico’s ECA Bancomext. The agreement is a declaration of intention to cooperate to further strengthen the export support to Mexican and Swedish companies. It is also the first step to enter into a reinsurance agreement going forward.
Each Monday, we will be sending our weekly market news roundup. This will include a short commentary on the key stories of the week, as well as links to our top picks. We hope you enjoy it, and would welcome your feedback. It is entirely free, so please feel free to share with your colleagues, contacts and clients.
IFC has launched a trade supplier finance facility with Sri Lankan apparel exporting company Brandix. This is the first such facility in South Asia, as part of IFC’s Global Trade Supplier Finance programme. No detail has been given as to the amount expected to be provided.
Société Générale (SG) and Bpifrance have today signed a partnership agreement to support the overseas growth of French businesses. The two institutions, which have a history of working together to finance French businesses within France, have decided to strengthen their collaboration internationally.
Standard Chartered (StanChart) has arranged a senior syndicated loan facility for marine services company Stanford Asia Holding Company (SAHC), amounting to $300 million. The facility, which was oversubscribed, was syndicated to a largely Middle Eastern investor base, will be used by SAHC to refinance existing debt.
Canada’s Scotiabank has completed the Canadian rollout of CGI’s cloud-based, ‘software-as-a-service’ (SaaS) solution, CGI Trade360. The announcement was made at Sibos Dubai this week. In the first phase of the programme, CGI Trade360 will replacing the Scotiabank’s legacy trade and supply chain applications with an integrated platform.
In a landmark partnership agreement for the trade finance technology sector, Kyriba, a leader in cloud-based treasury management solutions, and trade platform and software company CGI have agreed on the integration of CGI’s market leading trade solution, CGI Trade360, into the Kyriba Enterprise platform.
India’s YES Bank has successfully closed a loan facility equivalent to $255 million. The facility will be used for general corporate purposes and trade financing for the bank’s clients.
Bank of America Merrill Lynch (BAML) has launched a new payment product which is designed to improve the speed and efficiency with which banks and corporations make high value US dollar payments to Asian markets.
The UK’s Lloyds Bank has signed a partnership agreement with Standard Chartered Bank (StanChart) to team in providing enhanced services to its clients importing from Asia-Pacific.
The African Export-Import Bank (Afrexim) has signed €5.64 million ($7.5 million) credit facility for the Cote d’Ivoire based firm, SIMAT, to finance the import of equipment for its services in the areas of marine and air transit and handling.
Trade finance was very much in the spotlight and near centre stage at the recent APAC Development Forum held in Beijing, China. The fifth edition of the Asia-Pacific Trade Facilitation Forum (APTFF) took place last week at the Jinjiang Fuyuan Hotel in Beijing, China, an event planned and hosted jointly by the Asian Development Bank (ADB) and United Nations
Georgia’s TBC Bank has signed a €35 million subordinated loan agreement with its shareholder Dutch development bank, FMO. The loan facility is provided in syndication with the Canadian investor, Cordiant and the Swedish development bank, Swedfund.
US-headquartered Finacity Corporation has successfully arranged and structured a $15 million loan facility for MSX International. Under the facility, the company will be permitted to borrow against eligible European accounts receivables.
Integrated financial products and services company, Capital Business Credit, is expanding its US network with the opening of an office in Dallas, Texas. The office head has been named as senior vice president Dan Maner, who formerly led business development efforts in CBC’s North Carolina office.
In a development that will help corporates better manage their liquidity in China, Deutsche Bank has been selected as a qualified bank to provide foreign currency cross-border pooling, centralised payments and collections, as well as netting services to clients participating in the Foreign Currency Centralised Management Pilot launched by the State Administration of Foreign Exchange (SAFE) Beijing.
The Russian Direct Investment Fund (RDIF) and Abu-Dhabi’s Department of Finance have teamed to set up a partnership for investing in Russian infrastructure projects and developing cross-border investment cooperation between the countries.