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BNP Paribas appoints new China CEO
BNP Paribas appoints new China CEO
Dalia Gebrial
12 December 2014

BNP Paribas has appointed Peter Kwok as CEO of its China offices. He will take over the role from Clarence T’ao, who will be appointed as head of emerging Asian markets, wealth management Asia Pacific.

VTB Capital appoints new CEO
VTB Capital appoints new CEO
Jonathan Bell
11 December 2014

VTB Capital has appointed Nick Hutt as the bank’s new CEO. In this role, he will also continue to manage VTB Capital’s international offices.

SWIFT’s KYC Registry goes live for correspondent banks
SWIFT’s KYC Registry goes live for correspondent banks
Jonathan Bell
11 December 2014

SWIFT has announced that the KYC Registry is now available to banks seeking to increase efficiency and reduce risk related to their correspondent banking know your customer (KYC) compliance activities. So far, more than 20 global and regional banks have joined the KYC Registry, demonstrating clear momentum and support for this compliance initiative.

Bladex leads A/B senior term loan for Banco Continental
Bladex leads A/B senior term loan for Banco Continental
Paul Preugschat
11 December 2014

Panama-based Banco Latinoamericano de Comercio Exterior (Bladex), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO) and the Dutch Development Bank have closed a $50 million A/B syndicated term facility with Paraguayan bank Banco Continental.

Avolon announces pricing of IPO
Avolon announces pricing of IPO
Dalia Gebrial
11 December 2014

The Ireland-based aircraft leasing company, Avolon Holdings (Avolon) has announced the pricing of its initial public offering (IPO) of 13,636,363 common shares at a public offering price of $20 per share.

Egypt’s CIB secures trade facility through EBRD’s TFP
Egypt’s CIB secures trade facility through EBRD’s TFP
Dalia Gebrial
11 December 2014

The European Bank for Reconstruction and Development (EBRD) will provide a $50 million trade facility to the private Egyptian bank, Commercial International Bank (CIB).

NIB launches SME facilities in Finland and Denmark
NIB launches SME facilities in Finland and Denmark
Dalia Gebrial
11 December 2014

The Nordic Investment Bank (NIB) is launching two loan facilities for banks in Denmark and Finland.

EBRD provides loan for UniCredit Leasing in support of Croatian SMEs
EBRD provides loan for UniCredit Leasing in support of Croatian SMEs
Dalia Gebrial
10 December 2014

The European Bank for Reconstruction and Development (EBRD) is providing a €30 million ($37.39 million) loan to UniCredit Leasing.

Greece’s Alpha Bank raises finance through ship securitisation
Greece’s Alpha Bank raises finance through ship securitisation
Jonathan Bell
8 December 2014

Alpha Bank of Greece has successfully completed a major shipping securitisation transaction. The transaction is the first of its kind for many years from a Greek institution, and the inaugural shipping securitisation for Alpha Bank.

Sovcomflot secures 10-year limited recourse facility
Sovcomflot secures 10-year limited recourse facility
Jonathan Bell
8 December 2014

Russia’s Sovcomflot (SCF Group) has secured a new credit facility with European banks, providing the shipping company with vital funds and a healthy 10-year tenor.

Inventory finance and a view on Qingdao
Inventory finance and a view on Qingdao
Alex Monk
8 December 2014

The investigation into falsified warehouse receipts, the warehouse lock-down and fraud investigation against Decheng Mining (and others) in the Chinese port of Qingdao has raised many questions over the robustness and confidence of warehouse finance in China, both among international banks and traders directly exposed in the affair and also with those outside of the region but concerned that lessons can be learnt for their own regions’ markets.

Atradius reveals key payment practice concerns for APAC region
Atradius reveals key payment practice concerns for APAC region
Dalia Gebrial
5 December 2014

Trade credit insurer, Atradius has released its report on the payment practices and behaviour of businesses in the Asia Pacific (APAC) region.

Barclays makes new appointments to trade and working capital team
Barclays makes new appointments to trade and working capital team
Dalia Gebrial
5 December 2014

Barclays has appointed Nick Littleford and Paul Woodward as co-heads of large corporate sales finance organisation, UK and Ireland, within the trade and working capital team.

Ethiopian Airlines closes first sharia compliant loan
Ethiopian Airlines closes first sharia compliant loan
Dalia Gebrial
3 December 2014

Ethiopian Airlines has closed a 12-year, $100 million loan from Bahrain’s Islamic investment bank, Ibdar Bank, and Canada’s export credit agency (ECA), Export Development Canada (EDC) for the lease of four Bombardier Q400 Next Gen aircrafts.

Beazley opens office in the Middle East
Beazley opens office in the Middle East
Dalia Gebrial
3 December 2014

The London-based specialist insurer, Beazley Group (Beazley), has announced it will open an office in the Dubai Financial Centre (DIFC) to underwrite political risk, trade credit, political violence and contingency insurance.

Middle Eastern banks lead loan facility for Afreximbank
Middle Eastern banks lead loan facility for Afreximbank
Dalia Gebrial
3 December 2014

The African Export-Import Bank (Afreximbank) has closed a two-year, $250 million term loan facility with a club of predominantly Middle Eastern banks.

Egypt’s EGPC signs syndicated loan with local and foreign banks
Egypt’s EGPC signs syndicated loan with local and foreign banks
Dalia Gebrial
2 December 2014

An international and local bank syndicate has signed a major loan with the Egyptian General Petroleum Corporation (EGPC) – the country’s national oil company, designed to help the company meet its payment obligations for crude oil imports with international oil companies.

Sekerbank becomes first issuing bank in Turkey under the EBRD’s TFP
Sekerbank becomes first issuing bank in Turkey under the EBRD’s TFP
Jonathan Bell
2 December 2014

Sekerbank has become the first issuing bank under the European Bank for Reconstruction and Development (EBRD’s) Trade Facilitation Programme (TFP) in Turkey.

JB's weekly round up - 02 December 2014
JB's weekly round up - 02 December 2014
Jonathan Bell
2 December 2014

Sorry we are a bit late, but TXF has been hitting the road hard over the past few weeks. We have mostly been in Asia, where we hosted our 200 person meeting of the ECA finance community in Hong Kong.

JP Morgan hires Citi treasury advisory head
JP Morgan hires Citi treasury advisory head
Hesham Zakai
28 November 2014

Gourang Shah has joined US bank JP Morgan as the head of its treasury advisory business for Asia Pacific. His position is effective from December 2014.

Finacity facilitates trade receivables securitisation for Korean airline
Finacity facilitates trade receivables securitisation for Korean airline
Dalia Gebrial
27 November 2014

Finacity, the receivables finance company, has announced that it has facilitated a $350 million tade receivables securitisation for Korean Air Lines Company (KAL).

Agricultural bank of China signs on to essDOCS’ CargoDocs solution
Agricultural bank of China signs on to essDOCS’ CargoDocs solution
Dalia Gebrial
27 November 2014

The Agricultural Bank of China has signed on to essDOCS’ online trade facilitation solution, CargoDocs for trade finance.

Demica appoints new CEO as Kerle departs
Demica appoints new CEO as Kerle departs
Hesham Zakai
25 November 2014

Demica has appointed Matt Wreford as its new chief executive officer, replacing the outgoing Philip Kerle.

PTA Bank launches new eastern and southern African trade fund
PTA Bank launches new eastern and southern African trade fund
Dalia Gebrial
25 November 2014

The Eastern and Southern African Trade and Development Bank (PTA Bank) has collaborated with London-based specialist emerging market investment manager, GML Capital, to form Eastern and Southern African Trade Advisers Limited (ESATAL).

Denizbank appoints new head of financial institutions and trade finance
Denizbank appoints new head of financial institutions and trade finance
Dalia Gebrial
24 November 2014

The private Turkish bank, Denizbank, has appointed Semih Ozcan as its division head of financial institution and trade finance. In his new role, he will be based in Vienna.

SACE signs collaboration agreement with Vietnamese bank
SACE signs collaboration agreement with Vietnamese bank
Dalia Gebrial
24 November 2014

The Italian export credit agency (ECA), SACE, has signed an agreement with the second largest commercial bank in Vietnam, Vietinbank.

Nord/LB and Finacity arrange multi-bank securitisation for CMA CGM
Nord/LB and Finacity arrange multi-bank securitisation for CMA CGM
Hesham Zakai
22 November 2014

German bank Norddeutsche Landesbank (Nord/LB) has combined with securitisation specialist Finacity to launch an $880 million trade receivables securitisation for France’s CMA CGM.

China Merchants launches the United States’ first RMB-denominated CD – with proceeds for trade
China Merchants launches the United States’ first RMB-denominated CD – with proceeds for trade
Jonathan Bell
21 November 2014

China Merchants Bank’s (CMB) New York branch has launched the United States’ first renminbi (RMB) denominated certificate of deposit (CD) from its new global CD programme. Liquidity generated will be used to support trade finance transactions in the US-China trade corridor

Ghana announces plans to establish export-import bank
Ghana announces plans to establish export-import bank
Dalia Gebrial
21 November 2014

The Ghanaian cabinet has approved the establishment of an export-import bank as part of an overarching aim to position the country as an export-led economy.

Sace-backed SME fund aims to tap capital markets
Sace-backed SME fund aims to tap capital markets
Dan Sheriff
20 November 2014

Sace, the Italian export credit agency (ECA), has launched a new fund, targeted at non-listed Italian companies, with a special attention on SMEs and mid-caps.

India’s Reliance Jio signs oversubscribed syndicated loan
India’s Reliance Jio signs oversubscribed syndicated loan
Dalia Gebrial
20 November 2014

India’s largest provider of telecom tower infrastructure, Reliance Jio Infocomm Limited (RJIL), has signed syndicated term loan facilities amounting to $1.5 billion with a club of 26 international banks.

Video: Financial crime in trade finance
Video: Financial crime in trade finance
Dan Sheriff
20 November 2014

Simon Cook of Sullivan & Worcester was joined by Accuity's Heather Lee for the latest in the series of the law firm's breakfast briefings - this time on financial crime in trade finance

EDC loan for Concordia Healthcare acquisitions
EDC loan for Concordia Healthcare acquisitions
Dalia Gebrial
19 November 2014

Canada’s export credit agency (ECA), Export Development Canada (EDC), is to provide two loans, totalling to $22.5 million, to Oakville-based Concordia Healthcare Corporation (Concordia).

SBI to provide Adani Mining with credit facility for Queensland mine
SBI to provide Adani Mining with credit facility for Queensland mine
Dalia Gebrial
19 November 2014

India’s largest lender, the State Bank of India (SBI), has signed a memorandum of understanding (MoU) with Adani Mining - the Australian subsidiary of the logistics, energy and agribusiness company, Adani Enterprises - to provide a trade credit.

Ashurst further strengthens finance practice in Asia
Ashurst further strengthens finance practice in Asia
Jonathan Bell
18 November 2014

International law firm Ashurst has appointed Chin Chuan Chen as a partner in its finance team in Beijing and Singapore. This is the latest appointment in a string of hirings the firm has made to expand their Asia-Pacific coverage.

HSBC appoints new Asia-Pacific head of payments and cash
HSBC appoints new Asia-Pacific head of payments and cash
Jonathan Bell
18 November 2014

HSBC has appointed Kee Joo Wong as the head of payments and cash management (PCM) for Asia-Pacific, effective from 1 January 2015.

TEB becomes fifth EMEA bank to go live with BPO
TEB becomes fifth EMEA bank to go live with BPO
Hesham Zakai
18 November 2014

Turkish bank TEB has become the fifth bank in the EMEA region (Europe, the Middle East and Africa) – and the sixteenth bank globally – to go live with the BPO, after facilitating a Turkey-Thailand transaction using the tool.

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

Another year is coming to an end, and as such we are now taking entries for our 2014 “Perfect 10” deals of the year.

Ecobank Nigeria secures debut loan facility
Ecobank Nigeria secures debut loan facility
Jonathan Bell
17 November 2014

In a debut transaction in the international loan market, Ecobank Nigeria, a subsidiary of Togo-based Ecobank Transnational Inc (ETI), has signed a $150 million term loan facility.

Australia and China initial historic Free Trade Agreement
Australia and China initial historic Free Trade Agreement
Jonathan Bell
17 November 2014

Earlier today, China and Australia signed the declaration of intent agreement landmark and much anticipated China-Australia Free Trade Agreement (ChAFTA). The agreement was signed by Australian Trade and Investment Minister Andrew Robb and China’s Commerce Minister Gao Hucheng in Canberra, Australia.

Euler Hermes appoints new CEO for DACH region
Euler Hermes appoints new CEO for DACH region
Dalia Gebrial
17 November 2014

Euler Hermes, the trade credit insurance company, has appointed Michael Diederich as its new CEO for operations in Germany, Austria and Switzerland (the DACH region). He will take up the role at the beginning of 2015, pending regulatory approval.

BAML makes regional US appointment within  global trade and supply chain team
BAML makes regional US appointment within global trade and supply chain team
Dalia Gebrial
17 November 2014

Bank of America Merrill Lynch (BAML) has appointed Yafen Field to lead their global trade and supply chain finance business in the Pacific Northwest of the USA.

Otkritie signs loan with Western banks
Otkritie signs loan with Western banks
Jonathan Bell
14 November 2014

Russia’s Otkritie Financial Corporation Bank (Otkritie FC) has raised a $120 million syndicated loan from a group of foreign banks.

Former Goldman’s exec joins AerCap
Former Goldman’s exec joins AerCap
Dan Sheriff
14 November 2014

John Wikoff, former head of the transportation finance group at Goldman Sachs, has joined AerCap - the aircraft lessor - as head of investor relations.

Multilaterals push bank participation in SWIFT KYC Registry
Multilaterals push bank participation in SWIFT KYC Registry
Hesham Zakai
14 November 2014

The world’s largest multilateral development banks have clubbed together to encourage more banks to contribute information to SWIFT's Know Your Client (KYC) Registry.

Markel expands trade credit team in Singapore
Markel expands trade credit team in Singapore
Jonathan Bell
13 November 2014

Markel International, the specialist insurer, has appointed Linda Naili to its expanding trade credit team in Singapore.

China commits to  Silk Road infrastructure fund and also pushes the landmark AIIB
China commits to Silk Road infrastructure fund and also pushes the landmark AIIB
Dalia Gebrial
13 November 2014

China has announced that it is keen to move swiftly with the development of the Silk Road infrastructure fund (Silk Road Fund) - a potential financing mechanism that would help to further integrate, both physically and economically, the markets of Central and South Asia with China.

IFC provides financing package as concern grows for trade flows with Ebola affected countries
IFC provides financing package as concern grows for trade flows with Ebola affected countries
Dalia Gebrial
13 November 2014

As containment measures continue to restrict production and trade channels, concern is mounting when it comes to trading with countries affected by the Ebola epidemic, as well as the region at large.

Mini Roy joins StanChart public sector group in New York
Mini Roy joins StanChart public sector group in New York
Jonathan Bell
13 November 2014

Following her departure from Sumitomo Mitsui Banking Corporation (SMBC) in September, Mini Roy has joined Standard Chartered Bank (StanChart) as managing director in the public sector and development organisations group.

Barclays appoints new head of product management for trade & working capital
Barclays appoints new head of product management for trade & working capital
Jonathan Bell
13 November 2014

Barclays has appointed Brenton Booth as its new head of product management, trade & working capital.