TXF Global Commodity Finance Virtual 2021
We're proud to be bringing back TXF Global Commodity Finance, a must-attend event for the commodity finance community.
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.
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.
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.
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.
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.
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.
Akbank has signed a $1.36 billion syndicated loan, which sees 35 international banks providing funds to the Turkish institution.
Dublin-headquartered Ardmore Shipping Corporation (Ardmore) has signed a $172 million credit facility with mandated lead arrangers ABN AMRO, Nordea Bank (Finland), and Skandinaviska Enskilda Banken (SEB), for the purchase of eight newbuild ships. ABN AMRO acted as coordinator on the financing. The financing was signed on 19 March 2014.
essDOCS has opened a new office in Singapore, allowing the shipping and trading eDocs provider to expand its presence in the Asia Pacific region.
Trade credit insurance specialists ~Equinox^ Global have expanded their London team, hiring John Joseph as a senior credit analyst with immediate effect. Equinox reported a 43 per cent growth in written premiums last month as compared with January 2013 and they will be hoping Joseph can help to accelerate their growth strategy.
TXF analyses the impact that the $400 million fraud could have on the wider industry, at a time when investors and regulators are examining the trade finance asset class more closely than ever
Deutsche Bank has appointed Anthony Lin as China head of corporate banking and head of trade finance & cash management for corporates (TF/CMC). Lin, who takes up the new role this month, will be based in Shanghai and is tasked with driving Deutsche’s corporate banking division in the country.
A group of major banks have joined forces with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to collaborate on the development and use of a new Know Your Customer (KYC) Registry to be launched in late-2014.
James Burrows has been appointed senior vice president for the small business group at the Export-Import Bank of the United States.
Compagnie Générale d’Affacturage (CGA) of France, a fully-owned Société Générale subsidiary, has launched a new supply chain finance platform to support business growth for small and medium-sized companies (SMEs).
Armenian bank Ardshininvestbank has signed its first syndicated loan facility with international lenders. Moreover, the transaction represents the first syndicated deal for an Armenian financial institution in the bank loan market without multilateral agency support.
The crisis in Ukraine is one of considerable concern for all banks involved in the market. Potential exposure is considerable. But in a report released today by Raiffeisen Bank International, it highlights just how different that exposure is now for Western European banks to Ukraine compared to the financial crisis that hit in 2008/2009.
It is your last chance to register your input for the ICC Export Finance Global Survey, conducted by TXF. It is the first time this survey has been attempted by the ICC but with broad participation we will be able to paint an accurate, representative industry picture which we hope will be of use to everyone in the industry.