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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Tokyo Gas may help PetroVietnam with gas-fired power project
22 October 2018

Swire Shipping deploys Bolero electronic bills of lading on Cargill shipment
22 October 2018

Glencore CEO Glasenberg to retire in '3 to 5 years'
22 October 2018

Bedwood joins Societe Generale as MD of London RBL team
22 October 2018

Baihas Baghdadi joins Network Steel Resources
22 October 2018

Lundin unveils early redemption notes and changes to RCF
22 October 2018

ECOM Agroindustrial signs debut sustainability-linked RCF
22 October 2018

China's Shandong Zhaojin seeks South American mining assets
19 October 2018

Scotland closer to having its first commercial gold mine
19 October 2018

Amplats advances platinum strategy on Glencore exit
19 October 2018

Wolf Minerals UK to be wound up
19 October 2018

Carrizo Oil & Gas announces closing of Devon deal
19 October 2018

Freeport CEO may be ready to sell, but are there any buyers?
18 October 2018

Vitol, Trafigura, Glencore keen on India’s strategic crude reserves
18 October 2018

Insurance underwriter perspective: Is the world becoming a riskier place?
Insurance underwriter perspective: Is the world becoming a riskier place?
Max Thompson
18 October 2018

Does an uptick in arms trade imports and exports and a rise in rhetorical weaponised language around trade point to a riskier trade credit insurance environment in 2018-19? In the latest episode of TXF’s Risky Business podcast series, a panel of insurance underwriters and risk experts outline their key global risk trends.

BB Energy refinances and upsizes RCF
18 October 2018

Alcoa announces $200m buyback, releases financial results
18 October 2018

The great crude oil game enters a new chapter
The great crude oil game enters a new chapter
Jonathan Bell
17 October 2018

High crude oil prices look set to continue despite efforts to increase production. At the same time, argues Jonathan Bell, we are seeing a greater strategic use of crude.

Vector secures $35m debt funding for Adidi-Kanga gold project
17 October 2018

BHP almost doubles its stake in SolGold
17 October 2018

CIC launches blockchain-powered global physical commodities e-trading platform
17 October 2018

NEXI, JBIC to back US exports of shale gas to Asia
17 October 2018

Petrobras expects to revive TAG deal over the next month
16 October 2018

Petrobras, China's CNPC sign accord over Comperj refinery
16 October 2018

Anadarko signs LNG supply deal with Tohoku Electric

Entergy refinances RCF and ups tenor
16 October 2018

Centerra sells Mongolia mine and project for US$35m
16 October 2018

Scorpio Bulkers agrees deal to fit $1.5m-$2m scrubbers on vessels
16 October 2018

Azerbaijan's Southern Gas Corridor to secure final $2bn of funding by end of year
16 October 2018

Reed Smith hires trade and commodity finance specialist Omar Al-Ali
15 October 2018

Engie, Caisse to bid $9bn for Petrobras gas pipeline network
15 October 2018

Gunvor closes its first sustainability-linked RCF
15 October 2018

Australia's Atlas Iron names Sanjiv Manchanda as chief executive
15 October 2018

Canada’s Rusoro Mining reaches $1.3bn deal with Venezuela
15 October 2018

Omar Al-Ali joins commodity finance team at Reed Smith
15 October 2018

Cocobod: Three deputy CEOs are appointed
12 October 2018

Trafigura-backed copper miner Atalaya Mining seeks buyer
12 October 2018

Azerbaijan hopes raise $1.5bn for Southern Gas Corridor
12 October 2018

Glencore emerging a big winner from coal consolidation
12 October 2018

Abu Dhabi's Masdar signs region’s first green revolving credit
12 October 2018

Noble divests Indonesian subsidiary for nominal payment of US$1
12 October 2018

Erris hires investment banker Anton du Plessis as CEO
12 October 2018

Petrobras announces new RCF and prepaid debt
12 October 2018

Banks lined up for North Sea Midstream acquisition facility
11 October 2018

North Sea M&A: Balanced for mutual benefits
North Sea M&A: Balanced for mutual benefits
Daniel Pembrey
11 October 2018

Innovative sale and security structures have attracted a new breed of private equity-backed buyers into North Sea oil assets being sold off by the majors. And as the M&A opportunities increase, strong appetite from an increasingly diversified lender pool is also emerging.

Louis Dreyfus Co pays $411m dividend to owners despite earnings drop
11 October 2018

Rio Tinto to restart sale of $350m aluminium assets
11 October 2018

Drakelands mine owner Wolf Minerals ceases trading
11 October 2018

Lilis Energy announces $500m credit agreement
11 October 2018

Petrobras forms joint venture with Murphy in Gulf of Mexico
11 October 2018