TXF Africa 2020 Virtual
A premium online event focusing on recent and forthcoming developments across regional export & project finance with unbeatable networking opportunities across each market.
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.
Despite turmoil in much of the Middle East, the EMEA region has a wealth of opportunities for growth in trade finance. TXF talks with Sameer Sehgal and Anurag Chaudhary at Citi about the outlook for trade in the region.
Japan’s Nippon Export and Investment Insurance (Nexi) has agreed to provide overseas untied loan insurance for loans provided by ING Bank, Tokyo branch and Development Bank of Japan to OTO Multiartha (OTO), an auto financing company in Indonesia.
KfW IPEX-Bank is providing a long-term ruble loan for the equivalent of altogether €36 million ($47.8 million) to finance the construction of a hypermarket in Tver, Russia.
TXF talks to Deutsche Bank about the current state of the trade and supply chain finance market.
TXF talks to HSBC about the current state of the trade and supply chain finance market.
Jonathan Bell at TXF talks to Kitt Carswell and Frank Tezzi at CGI about the robustness and leveraging capabilities of the CGI Trade360 platform for trade finance banks.
TXF talks to Citi about the current state of the trade and supply chain finance market.
TXF talks to BNP Paribas about the current state of the trade and supply chain finance market.
TXF talks to Barclays about the current state of the trade and supply chain finance market.
Jonathan Bell examines the challenges the trade finance sector needs to confront, and find ways to work with, if it is to be a truly profitable business in the years ahead.
Alexander Malaket weighs up the pros and cons as Canada’s provision of trade finance looks to service much more than big brother US next door.
Eugenio Cavenaghi, director, trade and working capital at Barclays in Frankfurt, outlines three examples where receivables finance has made a difference to the bank’s clients.
With the launch of the official rules for the BPO earlier this year, Jonathan Bell asks several prominent trade bankers about their expectations for the implementation of the tool within international trade.
Jim Liddell evaluates how a corporate may approach selection and implementation of a supply chain finance model.
Ahead of the Sibos Corporate Forum André Casterman explains how Supply Chain Finance has become a key pillar of SWIFT’s corporate strategy.
TXF talks to UniCredit about the current state of the trade and supply chain finance market.
TXF talks to Standard Chartered Bank about the current state of the trade and supply chain finance market.
The Africa Finance Corporation (AFC) has secured a €50 million ($65.8 million) credit line provided by the French development agency Proparco together with European Financing Partners (EFP*). The Proparco-led line of credit has a tenor of 10-years and is a dual currency facility of euros and US dollars. The EFP tranche (€25 million) will be drawn in US dollars and will be utilised to fund Nigeria and Anglophon
HSBC has become the first foreign bank in mainland China to successfully complete a two-way cross-border RMB lending transaction under a new pilot programme in Kunshan. The transaction was completed for Kunshan President Enterprises Food Company (Kunshan President), a subsidiary of Uni-President Group.
UK Export Finance (UKEF), the export credit agency of the UK, has officially announced the launch of its direct lending scheme. The new lending scheme will help overseas buyers purchase the goods of UK exporters. Specifically, it will support exports where buyers need loans of up to £50 million ($78 million)
VTB Bank’s Shanghai branch, the only Russian bank with a Chinese financial operation licence, has begun conducting transactions in renminbi (RMB) for corporate clients who are Chinese residents. The bank has successfully completed its extensive preparations which included additional capitalisation and the obtaining of a new licence
Standard Chartered (StanChart) has set up a global treasury solutions team for its transaction banking business. The team is responsible for providing best practice treasury advice and delivering sophisticated global and regional cash management solutions tailored to clients’ needs.
Deutsche Bank has opened a new branch in Qingdao, China following the approval from the China Banking Regulatory Commission (CBRC). The Qingdao branch is the bank’s sixth branch in China, complementing others in Beijing, Shanghai, Guangzhou, Tianjin and Chongqing.
Russia’s VEB Leasing has received a boost to its operations with the signing of a RUB30 billion ($897 million) credit line provided by VTB Bank. The facility has an overall tenor of 10-years. Under the umbrella arrangement, VEB Leasing has received the first loan instalment of RUB5.78 billion. This loan has a tenor of five years.
One of the largest commercial banks in Mongolia, Khan Bank has teamed with the European Bank for Reconstruction and Development (EBRD) to develop an innovative financial instrument for the Mongolian market under the rubric ‘value chain finance’, to improve access to finance for small businesses and to help strengthen value chains in the country.
Albania’s Union Bank Albania has been able to expand its trade finance offering following an injection of funds from the IFC. The funds will specifically be used to increase financing to small and medium-sized enterprises (SMEs) that work in imports and exports.