At the US Ex-Im conference in Washington DC, Team TXF got delegates to pen their song choices on the TXF Wall of Sound. Here are the results...
Berne Union: Medium/Long Term Export Credit Insurance and Lending
The African Development Bank (AfDB) has signed an unfunded €40 million ($54.8 million) risk participation agreement (RPA) with BNP Paribas (BNPP) to support the trade finance activities of African issuing banks.
The National Bank of Abu Dhabi (NBAD) has recruited James Burdett as its group’s new chief financial officer (CFO). Burdett joins the Emirates bank from Australia and New Zealand Banking Group (ANZ), where he held roles as CFO for international & institution banking and, before that, CFO for the bank’s Asia, Pacific, Europe and Americas operations.
Five leading business associations have joined forces with the International Chamber of Commerce (ICC) Banking Commission to undertake a major project to standardise and harmonise market terminology for global supply chain finance products and services.
The Export-Import Bank of the United States US Ex-Im has appointed the 11 members to its 2014 sub-Saharan Africa Advisory Committee.
International law firm Ashurst has made a series of appointments and developments that will increase the strength of its finance practice in Asia-Pacific.
Geoffrey Wynne, head of the trade and export finance group at Sullivan & Worcester (S&W), and Simon Cook, partner in the same group, tackle the subject of ‘What to do about risk in trade finance transactions’ as part of the S&W Breakfast Seminar Series.
The International Chamber of Commerce (ICC) Banking Commission, and BAFT, the international financial services association have agreed a cooperation agreement to improve consumer services and strengthen the global voice of the industry.
Egyptian trade with African countries looks set for a boost following the signing of a risk participation agreement between Egypt’s Commercial International Bank (CIB) and the African Development Bank (AfDB).
So, it’s that time of year again! The US Ex-Im annual conference takes off with more than 1,000 lenders, insurance brokers, US exporters, international buyers, and government experts all in attendance this week in Washington DC – Thursday 24 through to Friday 25 April.
The European Bank for Reconstruction and Development (EBRD) has made its debut in Tunisia’s leasing sector with a €15 million ($20.8 million) senior unsecured loan to local leasing company Compagnie Internationale de Leasing (CIL).
Citi has announced a second suspected fraud within the Mexican unit of its transaction banking operation. This follows hot on the heels of the $400 million Oceanografia fraud, which saw the bank having to revise down yearly earnings.
US-headquartered CIT Group, a global leader in transportation finance, acting through CIT Maritime Finance has provided a $95.2 million senior secured credit facility to Malta-based Heron Ventures, a joint venture between Oceanbulk Shipping and ABY Group Holding.
The World Trade Organisation (WTO) has forecast that global trade will grow at a modest rate of 4.7% in 2014, and at a slightly faster rate of 5.3% in 2015.
The Export-Import Bank of the United States (US Ex-Im) has signed a $100 million financing agreement with the Eastern and Southern African Trade and Development Bank (PTA Bank) to help further develop trade between the US and eastern and southern African countries.
International Bank of Azerbaijan (IBA) has signed a dual currency syndicated term loan facility amounting to $160 million with a group of international banks.
Experts from Sullivan & Worcester give an update on the legal and regulatory landscape in the UK following the Chancellor's budget.
Annette Maresh has been promoted to vice president for trade finance, a position she has already been filling, at the Export-Import Bank of the United States (US Ex-Im). She will be responsible for an annual transaction portfolio of $5 billion and oversee a staff of more than 50.
Global law firm Dentons is extending its presence in Africa with a new office in Cape Town and plans to open further offices in Johannesburg and Francophone Africa later this year.
The African Development Bank (AfDB) is providing Shelter Afrique (Shaf), a pan-African financing institution for affordable housing, with a $20 million trade finance loan to enhance access to finance for small- and medium-sized businesses (SMEs) engaged in construction or real estate operations in Africa.
Florian Witt, head of Africa at Commerzbank, explains what corporates can do to mitigate their exposure to risks in the region and capitalise on Africa’s potential.
Guest post, CC solutions: In its efforts to increase exports and reduce the country's trade deficit, the British government has announced that export credit notes guaranteed by
The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank group, has made two senior appointments, with Carlo Bongianni to head its infrastructure team and Muhamet Bamba Fall to head its Asia hub.
Russian energy provider RusHydro Group has arranged a refinancing facility through Sberbank amounting to RUB2.776 billion ($77.3 million).
Russian telecom company VimpelCom has closed its latest revolving credit facility (RCF) with 11 international banks and a term loan facility with Alfa-Bank. The combined facilities amount to up to $2.3 billion.
Japan’s Nippon Export and Investment Insurance (Nexi) has signed a reinsurance agreement with Compagnie Française D'assurance pour le Commerce Extérieur (Coface), the French private credit insurance company.
The Bank of England (BoE) has announced that UK Export Finance-guaranteed debt capital market notes will be eligible as collateral against which banks can borrow from the BoE under the bank’s Sterling Monetary Framework (SMF).
Trade Finance Partners (TFP), the boutique trade financier, has secured an extended facility with Macquarie Bank to support further growth.
Henri D’Ambrieres will join Bpifrance as a consultant to spearhead a new initiative to support French exporters.
Commerzbank has appointed Jörg Motel as its new head of financial institutions (FI) for Asia, replacing Harald Lipkau.
The Royal Bank of Scotland (RBS) has launched a new multi-bank solution in China that enables corporates to manage accounts from Chinese banks through a single global electronic banking platform.
Barclays has appointed Karl Trumper as head of trade & working capital UK.
Orbian, the supply chain finance company, has hired Henrik Junker as managing director.
BNP Paribas Corporate and investment Banking has created a new global trade and transaction banking business line, headed by Marc Carlos in Paris.
Within the MENA region, it was only on the back of the international financial crisis in 2008 that a strong awareness was created for trade credit insurance as a protection against companies' failure to pay. Adding to the financial instability and the lack of liquidity in the markets, the ''Arab Spring" has also brought another surge in demand for credit risk protection, including political risks.
Sberbank Europe, the Vienna-headquartered subsidiary of Sberbank of Russia, has signed a debut syndicated term loan facility totalling €350 million ($482.7 million).
There has been a marked difference in how project markets view export credit agency (ECA) support in the wake of the 2007-08 financial crisis, writes David Godfrey, Chief Executive, UK Export Finance (UKEF) Although the operations of Berne Union members are diversified across various products, geographies, governance models, and regulatory systems, the growing role of ECAs in facilitating
Export Credit Agencies and development finance institutions have very different purposes, mandates and in the case of multilateral institutions, ownership structures. However there are many important areas of overlap where the pursuit of different mandates and different policy objectives
Nigeria’s Zenith Bank has secured a $125-million line of credit from the African Development Bank (AfDB), which the bank will use to onlend to small and medium-sized enterprises (SMEs) in Nigeria for trade purposes.
The tourism industry in Myanmar is receiving a boost from the IFC, which is lending $80 million to Shangri-La subsidiaries to develop its hospitality business in the country. The financing continues the IFC’s support for Myanmar, where it hopes to strengthen the private sector through investments and reforms.
In an important development in the further provision of electronic trade, essDOCS, the leading shipping and trade eDocs provider, has announced two major projects extending its electronic document solution offerings and enhancing the capabilities of SWIFT bank and corporate users.
The Export-Import Bank of the United States (US Ex-Im) has issued a capital markets funded guaranteed bond for $40.7 million for VRG Linhas Aéreas (GOL), the Brazilian airline.
Deutsche Bank has created a new role for the management of renminbi (RMB)-related activity across its global operations, the global head of RMB services, and appointed Evan Goldstein to the position.
The Credit Bank of Moscow (CBM) has signed a new syndicated loan facility with international lenders for up to $500 million.
Sian Aspinall, formerly of AIG and Zurich, has joined Berry Palmer & Lyle (BPL Global) as development and technical director, where she been tasked with shaping and implementing the company’s future strategy.
Available on demand: A premium online event focusing on recent and forthcoming developments across regional export & project finance with unbeatable networking opportunities across each market.
TXF is pleased to bring you an exclusive webinar event for commodity finance executives engaged in the Asia Pacific commodities market.
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The ultimate guide to the German Export Finance bringing together senior attendees from banks and exporters gather every year to make new connections and plan ahead...
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4 virtual+ events in 1 day- we will be covering export finance of Germany, France, Spain and the UK in 1 day! Join the virtual event of your choice and be part of cross-country sessions
We're reuniting the French Export Finance industry to discuss trends in the market and make new valuable connections. Join us to get ahead of next year's deals.
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TXF is teaming up with Nigeria Investment Gateway to run this year's Nigerian Trade and Investment Summit. This will be a virtual event focusing on existing and new investment projects in Nigeria.
This is a fully virtual event, which allows uncapped, senior-level participation from all corners of the globe.
This virtual event will address those challenges head-on. We want to create an atmosphere that is inspiring and ideas led, that demonstrates the art of the possible for the export finance community.