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Natixis appoints global head of loan syndication
Natixis appoints global head of loan syndication
Dan Sheriff
1 October 2013

Natixis has appointed Christopher Lovgren as global head of loan syndication. He will be based in London. Lovgren will report to Alain Gallois, global head of the debt platform and fixed-income and treasury sales,

EKN signs cooperation pact with Bancomext
EKN signs cooperation pact with Bancomext
Mayur Pande
30 September 2013

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.

JB's weekly round-up - 30 September 2013
JB's weekly round-up - 30 September 2013
Jonathan Bell
30 September 2013

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 arranges first South Asia supplier finance facility
IFC arranges first South Asia supplier finance facility
Jonathan Bell
26 September 2013

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.

SG and Bpifrance sign pact for French exporters
SG and Bpifrance sign pact for French exporters
Jonathan Bell
25 September 2013

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.

StanChart leads syndicated financing for Stanford Asia
StanChart leads syndicated financing for Stanford Asia
Mayur Pande
25 September 2013

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.

HSBC recruits Bart Ras for global head role
HSBC recruits Bart Ras for global head role
Jonathan Bell
24 September 2013

HSBC has recruited Bart Ras to its ranks where he will have the title of global head of business development for the bank’s global trade and receivables finance (GTRF) business He takes up the post on 15 October 2013.

Scotiabank rolls out first phase of CGI Trade360 platform
Scotiabank rolls out first phase of CGI Trade360 platform
Mayur Pande
20 September 2013

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.

Kyriba and CGI team to provide cloud-based trade finance services
Kyriba and CGI team to provide cloud-based trade finance services
Jonathan Bell
19 September 2013

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 success with dual currency facility
India’s YES Bank success with dual currency facility
Jonathan Bell
19 September 2013

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.

BAML launches accelerated payments to Asia
BAML launches accelerated payments to Asia
Jonathan Bell
19 September 2013

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.

Lloyds Bank teams with StanChart for Asian trade
Lloyds Bank teams with StanChart for Asian trade
Jonathan Bell
17 September 2013

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.

JP Morgan recruits Kah Chye Tan
JP Morgan recruits Kah Chye Tan
Jonathan Bell
17 September 2013

JP Morgan has recruited Kah Chye Tan, within a week of Tan leaving his previous employers Barclays Bank.

Cote d’Ivoire’s SIMAT gets Afrexim import loan
Cote d’Ivoire’s SIMAT gets Afrexim import loan
Jonathan Bell
17 September 2013

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.

APAC forum puts a spotlight on trade finance
APAC forum puts a spotlight on trade finance
Alexander R Malaket
17 September 2013

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 secures funds through FMO led facility
Georgia’s TBC Bank secures funds through FMO led facility
Jonathan Bell
16 September 2013

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.

Finacity arranges loan for MSX International
Finacity arranges loan for MSX International
Jonathan Bell
16 September 2013

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.

Capital Business Credit opens in Dallas
Capital Business Credit opens in Dallas
Dan Sheriff
15 September 2013

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.

Deutsche selected by China’s SAFE for FX pilot
Deutsche selected by China’s SAFE for FX pilot
Mayur Pande
15 September 2013

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.

Boost for Russian infra projects with mega Abu Dhabi investment
Boost for Russian infra projects with mega Abu Dhabi investment
Mayur Pande
13 September 2013

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.

Bankers see plenty of choice for growth within EMEA
Bankers see plenty of choice for growth within EMEA
Jonathan Bell
13 September 2013

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 Nexi support for auto sales in Indonesia
Japan Nexi support for auto sales in Indonesia
Jonathan Bell
12 September 2013

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.

BAML names global head of sales within GTS
BAML names global head of sales within GTS
Dan Sheriff
11 September 2013

Bank of America Merrill Lynch (BofAML) has named Percy Batliwalla as the new global head of sales for large corporates and financial institutions in global transaction services (GTS).

Globus expansion in Russia with KfW ruble loan
Globus expansion in Russia with KfW ruble loan
Mayur Pande
11 September 2013

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.

Global head interview – Deutsche Bank
Global head interview – Deutsche Bank
Jonathan Bell
11 September 2013

TXF talks to Deutsche Bank about the current state of the trade and supply chain finance market.

Global head interview – HSBC
Global head interview – HSBC
Jonathan Bell
11 September 2013

TXF talks to HSBC about the current state of the trade and supply chain finance market.

CGI stays well ahead of the curve with its trade capabilities
CGI stays well ahead of the curve with its trade capabilities
Jonathan Bell
11 September 2013

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.

Global head interview – Citi
Global head interview – Citi
Jonathan Bell
11 September 2013

TXF talks to Citi about the current state of the trade and supply chain finance market.

Global head interview – BNP Paribas
Global head interview – BNP Paribas
Jonathan Bell
11 September 2013

TXF talks to BNP Paribas about the current state of the trade and supply chain finance market.

Global head interview – Barclays
Global head interview – Barclays
Jonathan Bell
11 September 2013

TXF talks to Barclays about the current state of the trade and supply chain finance market.

Hard decisions required as trade finance enters a bold new era
Hard decisions required as trade finance enters a bold new era
Jonathan Bell
11 September 2013

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.

Trade finance in Canada: transition to transformation
Trade finance in Canada: transition to transformation
Alexander R Malaket
11 September 2013

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.

Why receivables finance makes the future less of a worry
Why receivables finance makes the future less of a worry
Eugenio Cavenaghi
11 September 2013

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.

BPO firmly enters the bigger arena
BPO firmly enters the bigger arena
Jonathan Bell
11 September 2013

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.

Challenges with goal alignment for corporates when implementing a supply chain finance solution
Challenges with goal alignment for corporates when implementing a supply chain finance solution
Jim Liddell
11 September 2013

Jim Liddell evaluates how a corporate may approach selection and implementation of a supply chain finance model.

Supply chain finance: a key pillar of SWIFT’s corporate strategy
Supply chain finance: a key pillar of SWIFT’s corporate strategy
André Casterman
11 September 2013

Ahead of the Sibos Corporate Forum André Casterman explains how Supply Chain Finance has become a key pillar of SWIFT’s corporate strategy.

Global head interview – UniCredit
Global head interview – UniCredit
Jonathan Bell
11 September 2013

TXF talks to UniCredit about the current state of the trade and supply chain finance market.

Global heads interview – Standard Chartered Bank
Global heads interview – Standard Chartered Bank
Jonathan Bell
11 September 2013

TXF talks to Standard Chartered Bank about the current state of the trade and supply chain finance market.

Santander appoints global head of export finance
Santander appoints global head of export finance
Dan Sheriff
10 September 2013

Santander Global Banking and Markets (SGBM) has appointed Octaviano Couttolenc as its new head of global export and agency finance. It has also reorganised the team’s structure.

AFC obtains credit line through Proparco and EFP
AFC obtains credit line through Proparco and EFP
Jonathan Bell
9 September 2013

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 conducts RMB cross-border first
HSBC conducts RMB cross-border first
Dan Sheriff
6 September 2013

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.

Kah Chye Tan departs from Barclays
Kah Chye Tan departs from Barclays
Mayur Pande
6 September 2013

After two years at the bank, Kah Chye Tan has departed Barclays in London where he was vice-chair of the bank’s global trade team. As a highly experienced and respected trade banker, Tan’s arrival at Barclays in 2011 was seen as a coup for the ban

UKEF launches direct lending scheme
UKEF launches direct lending scheme
Jonathan Bell
5 September 2013

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 begins transactions in renminbi
VTB Bank begins transactions in renminbi
Dan Sheriff
5 September 2013

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

BofAML expands GTS team in London
BofAML expands GTS team in London
Jonathan Bell
4 September 2013

Bank of America Merrill Lynch (BofAML) has made several appointments expanding its Europe, Middle East and Africa (EMEA) sales team within global transaction banking (GTS) in London.

StanChart sets up treasury solutions team
StanChart sets up treasury solutions team
Dan Sheriff
4 September 2013

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 opens branch in Qingdao, China
Deutsche opens branch in Qingdao, China
Jonathan Bell
4 September 2013

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.

Boost for VEB Leasing with VTB credit lines
Boost for VEB Leasing with VTB credit lines
Mayur Pande
4 September 2013

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.

Mongolia’s Khan Bank gets EBRD backing
Mongolia’s Khan Bank gets EBRD backing
Dan Sheriff
4 September 2013

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 expands trade finance offering
Albania’s Union Bank expands trade finance offering
Jonathan Bell
3 September 2013

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.