Commodity Finance

Commodity finance comprises two key products. The first is commodity-linked loans in the agriculture, oil and gas and mining industries where the lender has the future production or reserves of the commodity as security. These types of deal can be reserves-based loans, pre-export facilities, prepayment facilities, or even streaming, royalty-based loans and factoring. The second are very large unsecured term loan and revolving credit facilities provided annually by commercial banks to the major commodity trading houses and producers – Glencore, Gunvor, Trafigura, Vitol, ADM, Bunge and Castleton for example. These loans, effectively working capital facilities, also enable the major traders to provide loans to commodity producers that lack liquidity, thus ensuring security of commodity supplies and additional profits from that lending due to the arbitrage between the cost of debt for the major traders and what they can on-lend at.

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Precious metals transparency app Tradewind ORIGINS is launched
11 November 2019

Chesapeake Energy issues warning as debt mounts
11 November 2019

Bidding date for sale of Saudi Aramco shares is set
11 November 2019

Cost of Ivanhoe’s Kakula copper mine in Congo hits $1.3bn
11 November 2019

Delek Group completes $2bn deal for Chevron's North Sea fields
11 November 2019

Failed Exxon talks 'left Petrobras stranded for auctions'
11 November 2019

How to get the most from CPRI: TXF talks to Boris Jaquet
How to get the most from CPRI: TXF talks to Boris Jaquet
Katharine Morton
11 November 2019

Boris Jaquet, EMEA Head, distribution, Deutsche Bank talks to TXF’s Katharine Morton about his views of the state of play of the Credit and Political Risk Insurance (CPRI) market and how to get the best from CPRI ahead of the TXF Conference in London on 4 December 2019

Petrobras to add five FPSOs to Brazil Buzios oil field lineup
11 November 2019

ICBC Standard Bank plans to shut base metals, equities units
8 November 2019

Gunvor signs $1.69bn revolving credit facility
8 November 2019

Woodside lifts Australia Scarborough gas resource estimate by 52%
8 November 2019

Klaipedos Nafta eyes LNG FSRU acquisition by 2024
8 November 2019

Second failed Brazil oil auction has officials attacking rules
8 November 2019

Asanko Gold sinks to quarterly loss on impairment charge
8 November 2019

Solaris Copper announces changes to management team
8 November 2019

Dangote, Togo agree to $2bn phosphate project
8 November 2019

Barrick’s profit nearly triples, but sees flat production for next five years
7 November 2019

Glencore strikes deal with Katanga over $5.8bn rights issue
7 November 2019

Nyrstar board grilled on Trafigura ties in 10hr marathon meeting
7 November 2019

Wefarm secures $13m funding for Marketplace network
7 November 2019

China considers up to $10bn investment in Aramco IPO
7 November 2019

Houston Oil & Gas ceases operations amid lower prices
7 November 2019

EPIK mandates Newcastle GasDock financial advisory
7 November 2019

Huge Brazil oil round disappoints as only Petrobras and Chinese bid
6 November 2019

Angola forms consortium with five oil firms for $2bn LNG project
6 November 2019

France targets fracking and flaring with export guarantee overhaul
6 November 2019

Cocobod to receive $600m stimulus package
6 November 2019

Trafigura, DBS unveil ICC TradeFlow platform
6 November 2019

Brazil's Samarco 'to resume $4bn debt restructuring talks'
6 November 2019

South32 settles on asking price for South African coal assets
6 November 2019

Higher gold prices push Newmont Goldcorp revenue up 57%
6 November 2019

Mol Group agrees $1.57bn deal for Chevron's Azerbaijan assets
6 November 2019

Rusal: Going green or a tinge of greenwash?
Rusal: Going green or a tinge of greenwash?
Aife Howse
5 November 2019

Given its status as the world's second largest aluminium producer, Rusal's sustainability-linked loan debut is good news for the growing ESG movement. But like other deals in the commodity sector that have closed before it, the financial structure in Rusal's deal lacks the teeth to leave no doubt that it is not tinged with a bit of greenwash.

Harte Gold announces CEO and COO appointments
5 November 2019

Abu Dhabi adds 7bn barrels of oil to its reserves
5 November 2019

Japanese-backed Australian LNG import project faces delay
5 November 2019

Bolivia walks away from lithium project with ACISA
5 November 2019

Contango seals deal for White Star Petroleum assets
5 November 2019

Companies find opportunity amid global trade disruption
5 November 2019

Ramelius Resources agrees $35m facility
5 November 2019

Finding the sweet spot on trade digitisation and working capital management
Finding the sweet spot on trade digitisation and working capital management
Katharine Morton
4 November 2019

Are corporate treasuries, fintechs and banks missing a trick on cross border working capital optimisation and what will the next five years hold? TXF's roundtable discussion of digitisation and international trade hosted in London by DBS highlights where the sweet spots will lie.

Chevron, Exxon both see profits drop on lower prices
4 November 2019

Trafigura to renew annual metals borrowing base
4 November 2019

JBIC agrees loan for development of Abra lead mine in Australia
4 November 2019

China's Zijin buys Freeport's copper-gold assets in Serbia for up to $390m
4 November 2019

NioCorp selects Cementation USA as Elk Creek Mine EPC
4 November 2019

China's Suntien Green Energy plans $1bn LNG terminal
4 November 2019

Saudi Aramco launches "colossal" IPO
4 November 2019

Africa Oil to buy Petrobras assets in Nigeria after Vitol, Delonex walk away
4 November 2019

Independence Group offers to buy Panoramic Resources
4 November 2019