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.
As part of its supply chain finance offering to corporates, Deutsche Bank has announced the launch of the financial supply chain manager on its Autobahn app market.
The International Underwriting Association (IUA) has launched a new London market political risk committee. The group is made up of underwriting and claims representatives from across the association’s member companies and will meet regularly to discuss issues affecting political risk business.
The German development bank - Deutsche Investitions- und Entwicklungsgesellschaft (DEG) has subscribed for bonds to the amount of TRY90 million ($39.7 million), issued by Turkey’s DenizBank, one of Turkey’s leading commercial banks. DenizBank will employ the funds for the long-term refinancing of loans to small and medium-sized enterprises in the agricultural sector, one of its key customer groups. This is the first time DEG has used such a financing mechanism to support SME’s in Turkey.
Energy commodity trading company Gunvor has signed a €225 million ($298.4 million) factoring programme with GE Capital for Gunvor’s receivables portfolio. The programme will finance part of Gunvor’s German oil refining business.
The African Development Bank (AfDB) has signed a $50-million Risk Participation Agreement (RPA) with Citi to support trade transactions originated by issuing banks in Africa. The facility will help address critical market demand for trade finance in Africa by providing support for trade in vital economic sectors such as agribusiness and manufacturing. In addition, it will foster financial sector development and regional integration, and contribute to government revenue generation.
As external funding withdrawal in emerging Europe generates increasing concern, agencies and banks have met to discuss the issues and trends. The Vienna 2 Initiative Steering Committee* met in Luxembourg on 17 July 2013 to discuss deleveraging trends, work to address asset quality issues in emerging Europe, and the implications for the proposed EU resolution framework on emerging European economies, including non-EU member countries.
Fred Hochberg has been confirmed as by the US Senate to serve a second term as president of the Export-Import Bank of the United States (US Ex-Im). This move followed President Obama’s decision to appoint him in March this year, and the Senate banking Commission nominating him in early June.
BAFT-IFSA, the US-headquartered international financial services association, has appointed Stacey Facter as the association’s new senior vice president of trade services.
The transaction marks the beginning of a new collaboration between both parties.
International law firm Morgan Lewis has expanded its banking practice in Moscow with the recruitment of a team of eight from law firm Gide Loyrette Nouell. The group is led by partners Grigory Marinichev - the former head of the banking and finance and restructuring practices at Gide - and Konstantin Kochetkov, a leading project finance lawyer. A further six associates make up the remainder of the group.
Deutsche Bank has appointed Susan Skerritt as its new regional head Americas for its global transaction banking division. She will be based in New York. Skerritt joins Deutsche Bank with more than 30 years of transaction banking experience covering cash management, global custody, corporate trust, treasury services and trade finance. Most recently she was executive vice president and global head of business strategy and market solutions, treasury services at BNY Mellon.
Trade industry specialist David Hennah has moved back to Misys after an eight-year stint with SWIFT. He has been hired by Misys as head of product management practice for the company’s integrated trade and supply chain finance solution, Misys TI Plus and Trade Portal.
Alternative trade financier Falcon Group has recruited Emma Clark as its new head of business development UK and Europe. She joins from insurance brokers RK Harrison where she was executive director, business and global accounts. Before that she was head of financial services at Sony.
Brazilian engineering, construction and production group Odebrecht has announced that Marcela Drehmer has been appointed as the new chief financial officer of Odebrecht SA.
Malta-headquartered FIMBank has announced the completion of the first stage of a multi-step process which has seen Burgan Bank and United Gulf Bank (UGB), members of the KIPCO Group, acquiring 37.05% of shareholding in the bank. At the end of this process, these two major Middle Eastern banks will have
Azerbaijan’s AccessBank has secured a $60 million syndicated loan facility lead arranged by the Development Bank of the Netherlands (FMO). Other lenders under the FMO syndicated loan facility are, the Austrian Development Bank (OeEB), and Proparco of France who joined
The Export-Import Bank of Korea (Kexim) and Japan Bank for International Cooperation (JBIC) held a seminar in Tokyo on 17 June entitled ‘Collaboration between Japan and Korea in Overseas Projects’, to explore further ways to expand joint financing in overseas projects. This was the second joint seminar to be held between the Korean and Japanese export credit agencies (ECAs) since their first in June 2011, in Seoul.
The African Development Bank (AfDB) and Germany’s Commerzbank have signed a $100 million risk participation agreement (RPA) in a move to boost the provision of trade finance in Africa. Under the agreement, the two banks will share the default risk on a portfolio of eligible trade transactions originated by African issuing banks in Africa and confirmed by Commerzbank. The facility will help
The IFC has signed a trade finance agreement with CreditBank, a fast-growing bank in Lebanon, to help its client companies access global markets, boosting trade and spurring growth.
Trade finance in Morocco is set for a boost with the European Bank for Reconstruction and Development (EBRD) announcing a credit line for trade finance purposes to the local Banque Centrale Populaire (BCP). The loan comes under the EBRD’s Trade Facilitation Programme (TFP).
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