TXF CPRI: Trade, Commodity & Export Finance Virtual 2021
TXF PRI: Trade, Commodity & Export Finance is taking place this February. Delve into the local market and make high-level contacts that might just lead to your next deal...
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.
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.
The European Bank for Reconstruction and Development (EBRD) will provide a $50 million trade facility to the private Egyptian bank, Commercial International Bank (CIB).
The Nordic Investment Bank (NIB) is launching two loan facilities for banks in Denmark and Finland.
The European Bank for Reconstruction and Development (EBRD) is providing a €30 million ($37.39 million) loan to UniCredit Leasing.
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.
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.
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.
Trade credit insurer, Atradius has released its report on the payment practices and behaviour of businesses in the Asia Pacific (APAC) region.
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 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.
The African Export-Import Bank (Afreximbank) has closed a two-year, $250 million term loan facility with a club of predominantly Middle Eastern banks.
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 has become the first issuing bank under the European Bank for Reconstruction and Development (EBRD’s) Trade Facilitation Programme (TFP) in Turkey.
Finacity, the receivables finance company, has announced that it has facilitated a $350 million tade receivables securitisation for Korean Air Lines Company (KAL).
The Agricultural Bank of China has signed on to essDOCS’ online trade facilitation solution, CargoDocs for trade finance.
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).
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.
The Italian export credit agency (ECA), SACE, has signed an agreement with the second largest commercial bank in Vietnam, Vietinbank.
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 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
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.
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.
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
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.
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 has appointed Kee Joo Wong as the head of payments and cash management (PCM) for Asia-Pacific, effective from 1 January 2015.
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.
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.
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, 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.
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.
Russia’s Otkritie Financial Corporation Bank (Otkritie FC) has raised a $120 million syndicated loan from a group of foreign banks.
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.
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.
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.
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 has appointed Brenton Booth as its new head of product management, trade & working capital.