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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Glencore and Tohoku Electric’s standoff over term coal talks
13 September 2019

Fermaca and Mexican government agree new pipeline contract
13 September 2019

Aethon teams up with Rio Tinto for Arcas copper project
13 September 2019

Woodside looking to sell part of Kitimat LNG stake
13 September 2019

Ternium closes $500m PXF
13 September 2019

Mkango progresses Songwe Hill Rare Earths
13 September 2019

Amsterdam Trade Bank CEO Harris Antoniou to step down
12 September 2019

World Gold Council launches Responsible Gold Mining Principles
12 September 2019

Western Gas seeking Equus LNG project partner
12 September 2019

Bamin in talks with jv partners over $2.6bn Brazil mine project
12 September 2019

Southern Gold, Bluebird granted permit for Gubong gold mine
12 September 2019

US Gold Corp seals acquisition of Orevada Metals
12 September 2019

Mexican government to give $5bn to Pemex to repay debt
12 September 2019

Coro consolidates 100% ownership of Marimaca Project in Chile
12 September 2019

Louis Dreyfus: Laying a seedbed for sustainability-tied debt
Louis Dreyfus: Laying a seedbed for sustainability-tied debt
Max Thompson
11 September 2019

ESG-tied debt benefits go beyond a simple PR play for Louis Dreyfus Company, it's now a tightly priced option for the trader, as its latest Asian revolver mimics its debut in the sector earlier this year. However, lenders will up fees incrementally with each drawdown this time round.

Shenzhen Jiangtong sounds out banks for RCF
11 September 2019

Graphite One signs loan for Graphite Creek Project
11 September 2019

Minergy appoints Jean-Pierre van Staden as new CFO
11 September 2019

ExxonMobil adds three offshore blocks to Brazilian portfolio
11 September 2019

Trafigura sees oil slump to $50/b unless OPEC cuts deeper
11 September 2019

Olam secures $525m sustainability KPI-linked loan
10 September 2019

Qatar shortlists partners for North Field expansion, but says it may go it alone
10 September 2019

ICC releases new Incoterms 2020
10 September 2019

Stornoway Diamond granted creditor protection
10 September 2019

Freeport LNG raises Train 4 mezzanine loan
10 September 2019

EBRD agrees $120m loan to Ukraine's Kernel
10 September 2019

Kernel upsizes and extends PXF
10 September 2019

Vitol appoints Mike Muller as head of Asia trading
10 September 2019

Enel launches $1.5bn SDG-linked bond
10 September 2019

Marathon Gold secures financing for Valentine exploration
10 September 2019

Almaden appoints John Thomas as VP, Project Development
10 September 2019

Franco-Nevada announces additions to board
10 September 2019

John Chrisman joins Norton Rose Fulbright in Dallas
10 September 2019

Trafigura co-head of oil bearish on oil until year end, sees 2020 recovery
9 September 2019

Saudi Aramco lines up banks for IPO
9 September 2019

Trafigura accused of throttling Nyrstar with lopsided deals
9 September 2019

Pure Gold moves on to engineering stage at Madsen Red Lake
9 September 2019

AfDB agrees grants to foster fertilizer market in Nigeria, Tanzania
9 September 2019

Sberbank completes Siberian oil blockchain deal with Trafigura
9 September 2019

NJR Midstream buying Leaf River Energy Center
6 September 2019

Fortescue completes $600m high yield bond offering
6 September 2019

Total suspends East African Crude Oil Pipeline deal
6 September 2019

Exxon 'agrees $4bn sale of Norway oil and gas assets'
6 September 2019

Alba refinancing 2016 corporate facilities for Line 6
6 September 2019

Bunge 'lays off grain traders in Geneva' as company seeks to minimize risk
6 September 2019

Black Rock Mining ready to develop Mahenge project
6 September 2019

Middleman implicates top executives at Vitol, Trafigura in alleged bribery ring
6 September 2019

Rusal completes third ruble bond placement of 2019
6 September 2019

Texas Capital launches escrow division
5 September 2019

Antin Infrastructure hires banks to sell UK gas pipeline
5 September 2019