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Turkish electronics company receives EBRD loan
Turkish electronics company receives EBRD loan
Dalia Gebrial
3 September 2014

The European Bank for Reconstruction and Development (EBRD) has signed a €50 million ($65.7 million) loan to Turkish consumer electronics and white goods producer Vestel Elektronik.

BBVA Paraguay gets IFC loan to support SME export trade
BBVA Paraguay gets IFC loan to support SME export trade
Jonathan Bell
3 September 2014

The World Bank’s International Finance Corporation, (IFC) has signed to provide Banco Bilbao Vizcaya Argentaria Paraguay, a subsidiary of Grupo BBVA, with a $60 million loan to expand access to finance for small and medium-sized entrepreneurs in the export sector and to promote international trade.

Happy birthday TXF
Happy birthday TXF
Dan Sheriff
2 September 2014

TXF News is one year old this week, thank you for all your support

Free webinar: Export finance in 2019 and beyond
Free webinar: Export finance in 2019 and beyond
Dan Sheriff
2 September 2014

TXF will be joined by UK Export Finance, the Berne Union, Citi and Deutsche Bank for a free webinar this Thursday, 4th September

DBS Bank makes senior trade appointments
DBS Bank makes senior trade appointments
Jonathan Bell
2 September 2014

Singapore-headquartered DBS Bank, which has made significant strides in its transaction banking offering over the past few years, has made two senior management appointments which will enable it to build on the solid momentum of the past five years. These changes reinforce DBS’ commitment to building a regional leading transaction banking business, one of the bank’s strategic priorities.

IFA to gather for annual conference (10-12 September)
IFA to gather for annual conference (10-12 September)
Jonathan Bell
2 September 2014

The International Forfaiting Association (IFA), the world’s premier body for trade finance, is holding its 41st Annual Conference in Barcelona from 10-12 September 2014.

Deutsche appoints new head of GTB and TF/CMC in Japan
Deutsche appoints new head of GTB and TF/CMC in Japan
Dalia Gebrial
2 September 2014

Deutsche Bank has appointed Peter Massion as head of global transaction banking (GTB) and head of trade finance and cash management corporates (TF/CMC) in Japan. The move, which was effective as of the 1st of September, comes as part of Deutsche Bank’s attempt to strengthen its influence in the rapidly growing region.

Zimbabwe’s FBC Bank gets boost with syndicated loan
Zimbabwe’s FBC Bank gets boost with syndicated loan
Dominik Kloiber
1 September 2014

Zimbabwe’s FBC Bank (FBC) has received a significant boost in its liquidity profile with a $60 million loan arranged by a syndicate of local and international banks. The financing has been facilitated by the support of African Export-Import Bank (Afreximbank), which is providing a comprehensive guarantee.

Coface appoints regional manager Asia-Pacific
Coface appoints regional manager Asia-Pacific
Jonathan Bell
1 September 2014

Credit insurer Coface has strengthened its organisation in Asia with the appointment of Hung Wong as regional manager Asia-Pacific.

Santander appoints new head of export and agency Asia
Santander appoints new head of export and agency Asia
Jonathan Bell
1 September 2014

Santander has appointed Ivan Leung as head of export and agency finance, Asia-Pacific, global transaction banking. No announcement was made by Santander, although the bank has confirmed the appointment with TXF.

JB's weekly round up - 01 September 2014
JB's weekly round up - 01 September 2014
Jonathan Bell
1 September 2014

Happy birthday us! It feels like only yesterday that we officially launched TXFnews.com. Over 1000 stories later and we have reached our first milestone.

Rabobank promotes Jan de Laat to CCO Africa
Rabobank promotes Jan de Laat to CCO Africa
Jonathan Bell
29 August 2014

Rabobank International has promoted Jan de Laat to chief commercial officer (CCO), Africa.

ANZ names new head for SE Asian trade
ANZ names new head for SE Asian trade
Jonathan Bell
29 August 2014

ANZ has named Gareth Coleman as the new head of transaction banking for the bank in three South-East Asian countries - Cambodia, Laos and Myanmar.

BNY Mellon signs trade pact with Helaba and Sparkassen
BNY Mellon signs trade pact with Helaba and Sparkassen
Jonathan Bell
27 August 2014

BNY Mellon has signed a trade processing partnership with Helaba (Landesbank Hessen-Thürigen) and the G25, a group which represents the 25 largest Sparkassen in Germany.

XZERES closes financing with Wells Fargo
XZERES closes financing with Wells Fargo
Dominik Kloiber
27 August 2014

Oregon-headquartered XZERES Corporation, a global clean energy solutions company, has closed a loan agreement with Wells Fargo Bank and strategic investors for total proceeds of $19.9 million.

Deutsche launches new e-trade tools for India
Deutsche launches new e-trade tools for India
Jonathan Bell
26 August 2014

Building on its trade services and profile in India, Deutsche Bank has launched new transaction banking apps on its award-winning Autobahn App Market in India.

BAML publishes Driving Growth in Latin America report
BAML publishes Driving Growth in Latin America report
Dominik Kloiber
26 August 2014

The global transaction services business at Bank of America Merrill Lynch (BAML) has published its annual report on the Latin America market, entitled Driving Growth in Latin America. The report includes a series of articles summarising the challenges and opportunities for companies conducting business in the region.

Andy Grisdale appointed HSBC chief of staff
Andy Grisdale appointed HSBC chief of staff
Dominik Kloiber
26 August 2014

HSBC has appointed Andy Grisdale as its new chief of staff for commercial banking, Asia-Pacific.

Forfaiting association pinpoints trade challenges ahead
Forfaiting association pinpoints trade challenges ahead
Jonathan Bell
26 August 2014

The August 2014 issue of the International Trade and Forfaiting Association’s newsletter, issued by the industry body for banks and other institutions specialising in the origination, sale and purchase of trade and trade-related receivables and debt, has pinpointed many of the issues impacting trade due to geo-political events and factors.

Law firm Thomas Cooper hires trade specialist Alex Monk
Law firm Thomas Cooper hires trade specialist Alex Monk
Jonathan Bell
25 August 2014

International law firm, Thomas Cooper, has hired Alex Monk to its finance group.

JB's weekly round up - 25 Aug 2014
JB's weekly round up - 25 Aug 2014
Jonathan Bell
25 August 2014

The soggy, grey skies and grinding traffic of the UK August bank holiday usually signal one thing - time to get back to business.

Finacity facilitates receivables securitisation for Greek multinational
Finacity facilitates receivables securitisation for Greek multinational
Paul Preugschat
22 August 2014

Finacity Corporation (Finacity) has facilitated the successful closing and funding of a $55 million off-balance sheet trade receivables securitisation programme for a Greece-headquartered client.

Kexim and Dubai wealth fund combine for export opportunities
Kexim and Dubai wealth fund combine for export opportunities
Dominik Kloiber
21 August 2014

The sovereign wealth fund of the Emirate of Dubai, Investment Corporation of Dubai (ICD), and the Export-Import Bank of Korea (Kexim) have signed an agreement to form an alliance to explore international investment and export finance opportunities across Asia, the Middle East and Africa.

Star Bulk acquires drybulk vessels in novel deal
Star Bulk acquires drybulk vessels in novel deal
Dominik Kloiber
20 August 2014

Athens-headquartered shipping company Star Bulk Carriers Corporation (Star Bulk) has signed definitive agreements with Excel Maritime Carriers (Excel) to acquire 34 operating vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash.

Double departure from US Ex-Im project division
Double departure from US Ex-Im project division
Hesham Zakai
19 August 2014

Beth Touomou, director of project & structured finance, and Jessica Bartos, investment officer at the same division, are both leaving the Export-Import Bank of the United States (US Ex-Im).

Ashurst hires major restructuring team in Asia
Ashurst hires major restructuring team in Asia
Jonathan Bell
19 August 2014

International law firm Ashurst has hired a market-leading team of three partners and a senior consultant that will significantly strengthen the firm’s restructuring and special situations capability in Asia.

JB's weekly round up - 18 August 2014
JB's weekly round up - 18 August 2014
Jonathan Bell
18 August 2014

Last week’s blog from CC Solutions focused on US Ex-Im with the title ‘The fate of US Ex-Im Bank’.

XL Group strengthens trade receivables insurance team
XL Group strengthens trade receivables insurance team
Dalia Gebrial
14 August 2014

The global insurance company, XL Group (XL), has made several new appointments in its offices in both the UK and the US in order to bolster its trade receivables insurance (TRI) underwriting capabilities. These appointments include Jennifer Papadimitriou in London, and Paul C. Haigley III, Aaron Rutstein and Agatha Liberatore in the US.

SunGard to manage risk activities for Egyptian bank
SunGard to manage risk activities for Egyptian bank
Dalia Gebrial
13 August 2014

Faisal Islamic Bank (FIB) of Egypt has partnered with SunGard Financial Systems in a bid to modernise its risk infrastructure. The move comes in response to mounting pressure from the Central Bank of Egypt on FIB to comply with international risk management standards.

Gazprombank repays syndicated loan
Gazprombank repays syndicated loan
Jonathan Bell
12 August 2014

Gazprombank has repaid its syndicated $1.2 billion term loan from existing funds and without moving to any new facility.

Misys expands footprint with Custom Credit Systems acquisition
Misys expands footprint with Custom Credit Systems acquisition
Jonathan Bell
12 August 2014

Financial software company Misys is seeking to extend its footprint into the multi-billion dollar market for commercial lending software with the acquisition of Custom Credit Systems (CCS), a US-based provider of commercial loan origination and workflow management software.

HSBC appoints new Asia business development trade head
HSBC appoints new Asia business development trade head
Jonathan Bell
11 August 2014

HSBC has appointed Sriram Muthukrishnan as managing director and regional head of business development for global trade and receivables finance, Asia-Pacific.

JB's weekly round up 11 August 2014
JB's weekly round up 11 August 2014
Jonathan Bell
11 August 2014

TXF is in the process of producing its 2014 SIBOS Special Report. The report will look at many aspects of the short-term trade finance cycle and related services.

FIATA partners with essDOCS to launch own eBL
FIATA partners with essDOCS to launch own eBL
Paul Preugschat
6 August 2014

The International Federation of Freight Forwarders Associations (FIATA) has launched an electronic bill of lading powered by essDOCS’ online trade facilitation solution CargoDocs.

Barclays names new heads for Asia-Pacific and ME trade teams
Barclays names new heads for Asia-Pacific and ME trade teams
Jonathan Bell
5 August 2014

Barclays has made changes to its trade and working capital leadership team in Asia-Pacific and the Middle East.

Video: What to do and not to do in trade finance transactions
Video: What to do and not to do in trade finance transactions
Dan Sheriff
5 August 2014

Geoffrey Wynne, partner at Sullivan & Worcester presents practical advice on best practice trade finance

Former DIFC chief economist joins Falcon
Former DIFC chief economist joins Falcon
Jonathan Bell
4 August 2014

Alternative trade and corporate financier Falcon Group has appointed Nasser Saidi to act as non-executive director on the board. Saidi is the former chief economist, strategist and head of external relations of the Dubai International Financial Centre (DIFC) – a position he held from 2006-2012.

Santander makes top trade changes
Santander makes top trade changes
Jonathan Bell
4 August 2014

Santander is understood to be making a number of changes at the top of its trade executive management.

JB's weekly round up - 04 August 2014
JB's weekly round up - 04 August 2014
Jonathan Bell
4 August 2014

As many of the regular visitors to our news website will know, earlier this year TXF produced the Berne Union’s 80th anniversary yearbook.

ICC Banking Commission appoints Advani to leadership
ICC Banking Commission appoints Advani to leadership
Jonathan Bell
1 August 2014

The International Chamber of Commerce (ICC) has appointed Suresh Advani, Senior Portfolio Manager at GML Capital (GML), as senior technical advisor to the Banking Commission.

EU and US ramp up sanctions on Russia
EU and US ramp up sanctions on Russia
Hesham Zakai
1 August 2014

The EU and US have both increased sanctions against Russia, targeting its critical energy, finance and defence sectors, as well as more persons and companies directly associated with the Kremlin.

SunEdison closes financing for Bruining solar project
SunEdison closes financing for Bruining solar project
Jonathan Bell
31 July 2014

SunEdison, a solar technology manufacturer and provider of solar energy services, together with Norddeutsche Landesbank Girozentrale (NORD/LB) has reached financial close on the 18MW Bruining solar power plant in Ontario, Canada

JBIC part finances Suntory’s M&A deal with Beam
JBIC part finances Suntory’s M&A deal with Beam
Jonathan Bell
31 July 2014

The Japan Bank for International Cooperation (JBIC) today signed a subordinated loan agreements totaling up to JPY50 billion ($486 million) and $1.5 billion (both JBIC portions) with Suntory Holdings (Suntory) to finance part of the funds required for acquiring Beam Incorporated in the US.

Video: The challenge for export credit
Video: The challenge for export credit
Daniel Riordan
30 July 2014

Prominent Berne Union members give their views on the major challenges facing the industry

Video: Global opportunities for export credit
Video: Global opportunities for export credit
Dan Sheriff
30 July 2014

A series of prominent Berne Union members gives their views on the main opportunities available across the sector

Markel seeks Dubai insurance licence
Markel seeks Dubai insurance licence
Jonathan Bell
30 July 2014

Markel International, the specialist insurer, has applied to the Dubai Financial Services Authority (DFSA) to establish a company to operate within the Dubai International Financial Centre (DIFC).

BAML appoints new head of GTS business
BAML appoints new head of GTS business
Jonathan Bell
29 July 2014

Bank of America Merrill Lynch (BAML) has appointed Paul Donofrio as head of global transaction services (GTS) across the bank. He will be based in New York.

Cargill teams with Bolero to further drive electronic trade
Cargill teams with Bolero to further drive electronic trade
Jonathan Bell
29 July 2014

Global agri-trader, food, logistics and services company Cargill, is accelerating its transition from paper documents to ePresentation using Bolero’s cloud-based technology platform.

IFC hires US Ex-Im vice president for senior infrastructure role
IFC hires US Ex-Im vice president for senior infrastructure role
Dan Sheriff
29 July 2014

Jessica Farmer has joined IFC as InfraVentures principal investment officer based in India

Finacity facilitates receivables funding for Uralita
Finacity facilitates receivables funding for Uralita
Hesham Zakai
29 July 2014

The American accounts receivable securitisation services company Finacity has facilitated a series of European trade receivable funding solutions for Spain’s Uralita, amounting to €26 million ($35 million).