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KAR Power: venturing into Kurdistan
KAR Power: venturing into Kurdistan
Dalia Gebrial
13 July 2015

BEST MIDDLE EASTERN ECA FINANCE DEAL OF THE YEAR Dalia Gebrial reveals a true success story providing a major boost for the Iraq energy sector.

Cracking the Turkmen code
Cracking the Turkmen code
Oliver Gordon
7 July 2015

BEST EUROPEAN/EURASIAN ECA FINANCE DEAL OF THE YEAR Dalia Gebrial looks at how this ECA-backed financing will lead to the transformation of the Turkmenistan petrochemicals sector.

Cracking the Turkmen code
Cracking the Turkmen code
Oliver Gordon
7 July 2015

BEST EUROPEAN/EURASIAN ECA FINANCE DEAL OF THE YEAR Dalia Gebrial looks at how this ECA-backed financing will lead to the transformation of the Turkmenistan petrochemicals sector.

Cameron LNG: The right place at the right time
Cameron LNG: The right place at the right time
Dalia Gebrial
6 July 2015

BEST PROJECT FINANCE DEAL OF THE YEAR Dalia Gebrial assesses the impressive, watertight financing of the Cameron LNG project.

 Star Rafineri: breaking ground in ECA multisourcing
Star Rafineri: breaking ground in ECA multisourcing
Dalia Gebrial
29 May 2015

BEST OVERALL ECA/PROJECT FINANCE DEAL OF THE YEAR Dalia Gebrial reviews a complex multisource finance bringing seven export credit agencies together in Turkey.

Calik Cotton: a lesson in local innovation
Calik Cotton: a lesson in local innovation
Dalia Gebrial
29 May 2015

BEST COMMODITIES DFI DEAL OF THE YEAR Dalia Gebrial speaks to ITFC about the Islamic financing structure wich secured the Calik Cotton deal.

Reliance Jio Infocomm: Kexim goes the extra distance
Reliance Jio Infocomm: Kexim goes the extra distance
Dalia Gebrial
28 May 2015

BEST ASIA-PACIFIC ECA FINANCE DEAL OF THE YEAR Dalia Gebrial reviews a landmark financing for Reliance developed with solid support from Kexim.

Tiryaki Agro: going global
Tiryaki Agro: going global
Dalia Gebrial
28 May 2015

BEST MIDDLE EASTERN COMMODITIES FINANCE DEAL OF THE YEAR Dalia Gebrial reviews a unique soft commodity deal in the Turkish market where ABN AMRO worked together with EBRD and FMO to pull together a bespoke financing for Tiryaki Agro.

Tangsteel/Sinobiz Holdings: against all odds
Tangsteel/Sinobiz Holdings: against all odds
Dalia Gebrial
28 May 2015

BEST OVERALL COMMODITIES FINANCE DEAL OF THE YEAR Dalia Gebrial examines the largest-ever structured commodity trade finance deal for a Chinese company.

Tangsteel/Sinobiz Holdings: against all odds
Tangsteel/Sinobiz Holdings: against all odds
Dalia Gebrial
28 May 2015

BEST OVERALL COMMODITIES FINANCE DEAL OF THE YEAR Dalia Gebrial examines the largest-ever structured commodity trade finance deal for a Chinese company.

Finacity advises on government receivables funding programme
Finacity advises on government receivables funding programme
Dalia Gebrial
26 May 2015

Finacity Corporation (Finacity), the receivables finance company, has announced it has served as advisor – and will serve as ongoing reporting administrator – for a new $50 million US government obligations-only receivables funding programme.

US Ex-Im and ICIEC provide loan for refurbishing PIA aircraft engines
US Ex-Im and ICIEC provide loan for refurbishing PIA aircraft engines
Dalia Gebrial
26 May 2015

The Export-Import Bank of the United States (US Ex-Im), along with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), is providing a $55 million loan for the refurbishing of Pakistan International Airlines (PIA) engines by General Electric (GE).

BAML appoints new head of trade
BAML appoints new head of trade
Dalia Gebrial
20 May 2015

Bank of America Merrill Lynch (BAML) has appointed Percy Batliwalla as its new head of global trade and supply chain finance.

UniCredit hires new head of trade finance, France
UniCredit hires new head of trade finance, France
Dalia Gebrial
20 May 2015

UniCredit has appointed Dominique Honoré as its new head of trade finance international sales for France.

ADB extends emergency trade finance facility to Nepal
ADB extends emergency trade finance facility to Nepal
Dalia Gebrial
19 May 2015

The Asian Development Bank (ADB) has expanded its trade finance programme (TFP) in Nepal by $40 million in order to help local banks finance the import of goods needed for reconstruction and immediate relief in the wake of the recent earthquake.

EBRD collaborates with BasisBank in Georgia
EBRD collaborates with BasisBank in Georgia
Dalia Gebrial
19 May 2015

The European Bank for Reconstruction and Development (EBRD) is providing Georgia’s BasisBank with a $31.5 million loan package in order to promote small and medium-sized enterprises (SMEs), energy efficiency measures and access to trade finance.

ANZ launches Trade Lending Pledge to encourage trade with Asia
ANZ launches Trade Lending Pledge to encourage trade with Asia
Dalia Gebrial
18 May 2015

The Australia and New Zealand Bank (ANZ) has launched its $3 billion Trade Lending Pledge for small and medium-sized Australian businesses looking to either grow or trade with offshore markets, with a particular focus on Asia.

Boeing threatens to move manufacturing if US Exim is not reauthorised
Boeing threatens to move manufacturing if US Exim is not reauthorised
Dalia Gebrial
18 May 2015

In a recent interview with the Financial Times, Scott Scherer, Boeing’s head of regulatory strategy, has said that the aerospace and defence group would consider taking action should US export credit agency (ECA) the Export-Import Bank of the United States (US Ex-Im) not be reauthorised on 30 June.

Demica appoints Tim Davies first Europe head of origination
Demica appoints Tim Davies first Europe head of origination
Dalia Gebrial
15 May 2015

Working capital solutions provider Demica has appointed Tim Davies to the newly created role of head of origination, Europe. He will report directly to Demica’s chief executive officer (CEO) Matt Wreford.

SACE signs agreement in support of Iranian ECA
SACE signs agreement in support of Iranian ECA
Dalia Gebrial
15 May 2015

Italian export credit agency (ECA) SACE has signed a technical cooperation agreement to increase the capacity of the Iranian ECA, Export Guarantee Fund of Iran (EGFI).

Russia’s VEB ramps up business in China
Russia’s VEB ramps up business in China
Dalia Gebrial
14 May 2015

Russian state corporation Vnesheconombank (VEB) has increased business with Chinese institutions by signing a $8 billion framework credit agreement with China Development Bank (CDB) and a credit line agreement with Chinese export credit agency the Export-Import Bank of China (China Exim).

Euler Hermes makes series of senior executive appointments
Euler Hermes makes series of senior executive appointments
Dalia Gebrial
14 May 2015

Trade credit insurer Euler Hermes has appointed three regional chief executive officers (CEO) to its German, Austrian, Swiss (DACH), World Agency and French offices, and a new head of risk activities in the Mediterranean, Middle East and Africa (MMEA) region.

Euler Hermes signs distribution agreement with Al Hilal Takaful
Euler Hermes signs distribution agreement with Al Hilal Takaful
Dalia Gebrial
8 May 2015

German export credit agency (ECA) Euler Hermes has signed a distribution agreement with Al Hilal Takaful – the takaful insurance subsidiary of the state-owned and fully Islamic UAE bank, Al Hilal Bank.

IADB finances two wind farms in Uruguay through IPO
IADB finances two wind farms in Uruguay through IPO
Dalia Gebrial
8 May 2015

The Inter-American Development Bank (IADB) has provided two financial packages, totalling $216 million, for the construction of the Colonia Arias and Valentines wind farms in Uruguay. The financing will be raised through an Initial Public Offering (IPO).

Lack of trade finance impacting global development, says WTO director general
Lack of trade finance impacting global development, says WTO director general
Dalia Gebrial
7 May 2015

A lack of capacity in the financial sector is severely impacting the trading potential of poor countries, says Roberto Azevêdo, the sixth director general of the World Trade Organisation (WTO).

Croatia’s Erste Bank joins EBRD’s Trade Facilitation Programme
Croatia’s Erste Bank joins EBRD’s Trade Facilitation Programme
Dalia Gebrial
7 May 2015

Croatia’s third largest bank by assets, Erste Bank Croatia, has joined the European Bank for Reconstruction and Development’s (EBRD) Trade Facilitation Programme (TFP) in an effort to boost local and regional trade.

Scipion Capital names new business development lead
Scipion Capital names new business development lead
Dalia Gebrial
6 May 2015

Swiss-based commodities investment manager Scipion Group has appointed Taran Bains as its new head of sales and marketing.

ITFA and BAFT produce joint legal opinion for new EU regulations
ITFA and BAFT produce joint legal opinion for new EU regulations
Dalia Gebrial
6 May 2015

The International Trade and Forfaiting Association (ITFA) has teamed up with international financial services association BAFT to provide a joint, industry-standard legal opinion for banks to use in satisfying new regulatory requirements from the EU.

Freeport LNG secures project financing for third and final liquefaction train
Freeport LNG secures project financing for third and final liquefaction train
Dalia Gebrial
6 May 2015

The third subsidiary of the Texas Freeport LNG Expansion (Freeport LNG) project, FLNG Liquefaction 3 (FLIQ3), has successfully closed $3.692 billion worth of secured credit facilities from a group of 27 commercial banks.

Gert van Melkebeke to join Commerzbank’s senior export finance team
Gert van Melkebeke to join Commerzbank’s senior export finance team
Dalia Gebrial
5 May 2015

Gert Van Melkebeke will be joining Commerzbank’s structured export and trade finance BeNeLux (Belgium, Netherlands and Luxembourg) France division as a senior export finance manager, TXF has learned. His new role will be effective as of 1 June.

Peter Field leaves EFIC
Peter Field leaves EFIC
Dalia Gebrial
1 May 2015

Peter Field, the executive director of origination and portfolio management at Australian export credit agency (ECA) Export Finance and Insurance Corporation (EFIC), will be leaving his position after 10 years at the institution.

Peru’s largest twin wind farm project seals further financing
Peru’s largest twin wind farm project seals further financing
Dalia Gebrial
23 April 2015

Peru’s largest wind project has secured two financing agreements, totalling $254 million, from French bank Natixis.

Cofco makes float pledge as it looks to go global
Cofco makes float pledge as it looks to go global
Dalia Gebrial
22 April 2015

The Chinese state-run grain trading company China National Cereals, Oils and Foodstuffs Corporation (Cofco) has announced that it is intending to float within three-to-five years as it looks to become a global agricultural company.

MET Holdings locks down oversubscribed syndicated loan
MET Holdings locks down oversubscribed syndicated loan
Dalia Gebrial
21 April 2015

Swiss-headquartered holding company MET Holdings has secured a €400 million ($427.46 million) senior secured multicurrency credit facility from a group of international banks, TXF has learned.

Singapore’s PV Keez secures internationally syndicated loan
Singapore’s PV Keez secures internationally syndicated loan
Dalia Gebrial
10 April 2015

The Singapore-based provider of floating production, storage and offloading (FPSO) vessel and related services PV Keez, has secured a $171 million syndicated loan from a team of international banks, TXF has learnt.

Mizuho begins trade finance expansion with executive reshuffle
Mizuho begins trade finance expansion with executive reshuffle
Dalia Gebrial
10 April 2015

Masahiro Goda has been appointed to the newly created role of executive director of global trade finance at Mizuho Bank (Mizuho), as part of a series of moves within its senior global trade finance team.

K-sure covers ING loan for Singapore-based shipping company
K-sure covers ING loan for Singapore-based shipping company
Dalia Gebrial
9 April 2015

ING Bank is providing Singapore-based shipping company Quantum Pacific Shipping with a $344.7 million loan, which will be backed by Korean export credit agency (ECA) Korea Trade Insurance Corporation (K-sure), TXF has learnt.

EDC finances aircraft purchase for China’s AVIC
EDC finances aircraft purchase for China’s AVIC
Dalia Gebrial
8 April 2015

Canadian export credit agency (ECA) Export Development Canada (EDC) has provided the Chinese state-owned aerospace and defence company, the Aviation Industry Corporation of China International Leasing (AVIC), with a $45 million loan.

KUFPEC tops up syndi loan with $1.5bn accordion
KUFPEC tops up syndi loan with $1.5bn accordion
Dalia Gebrial
8 April 2015

The Kuwait Foreign Petroleum Exploration Company (KUFPEC), a subsidiary of Kuwait’s national oil company Kuwait Petroleum Corporation, has exercised the $1.5 billion accordion feature under its existing $1 billion five-year term loan facility, which was signed in November 2014.

Judge throws out Delta Airlines’ suit against US Ex-Im
Judge throws out Delta Airlines’ suit against US Ex-Im
Dalia Gebrial
7 April 2015

A federal US judge has thrown out a long-held suit – led by domestic airline Delta Airlines – against the US export credit agency (ECA), the Export-Import Bank of the United States (US Ex-Im).

MIGA guarantees syndicated facility for Turk Eximbank
MIGA guarantees syndicated facility for Turk Eximbank
Dalia Gebrial
7 April 2015

The Multilateral Investment Guarantee Agency (MIGA) is providing guarantees covering $330 million worth of financing from a syndicate of banks for the Turkish export credit agency, Turk Eximbank.

SeaMex seals landmark financing for Mexican energy project
SeaMex seals landmark financing for Mexican energy project
Dalia Gebrial
2 April 2015

SeaMex has secured a $750 million syndicated credit facility from a group of 13 international banks, TXF has learnt. The facility will allow the company to develop five oil rigs for Mexican state-owned oil firm Petróleos Mexicanos (Pemex).

China Aircraft Leasing lands its first ECA-backed financing
China Aircraft Leasing lands its first ECA-backed financing
Dalia Gebrial
2 April 2015

Chinese aircraft lessor China Aircraft Leasing Group (CALC) has completed its first aircraft financing backed by an export credit agency (ECA) guarantee – a $224 million facility guaranteed by UK ECA UK Export Finance (UKEF).

Enel bags debut KfW IPEX-Bank loan for South African wind farm
Enel bags debut KfW IPEX-Bank loan for South African wind farm
Dalia Gebrial
1 April 2015

German development bank KfW IPEX-Bank is providing a ZAR2.1 billion loan ($180 million) to the South African subsidiary of Enel Green Power (Enel). This is the first loan granted by KfW IPEX-Bank to the Italian renewable energy company.

MIGA to insure Vitol investment in Ghanaian gas field
MIGA to insure Vitol investment in Ghanaian gas field
Dalia Gebrial
1 April 2015

Dutch commodities trader Vitol Holding (Vitol) is seeking to secure a $470 million guarantee from the Multilateral Investment Guarantee Agency (MIGA) for an equity investment in the Sankofa Gas Field) in Ghana.

JBIC and Mizuho support renewables in Brazil, South Africa and Turkey
JBIC and Mizuho support renewables in Brazil, South Africa and Turkey
Dalia Gebrial
31 March 2015

Japanese export credit agency (ECA) the Japan Bank for International Cooperation (JBIC) and compatriot bank Mizuho have co-financed four untied loan agreements with private and public financial institutions in Brazil, Turkey and South Africa in support of renewable energy projects.

SMBC serves up NEXI-backed loan for Tanzanian power project
SMBC serves up NEXI-backed loan for Tanzanian power project
Dalia Gebrial
31 March 2015

Japanese bank Sumitomo Mitsui Banking Corporation (SMBC) is providing Tanzania Electric Supply Company (TANESCO), the country’s national power company, with a $117 million loan for the Kinyerezi power project.

Trafigura signs oversubscribed $5.3bn European RCF
Trafigura signs oversubscribed $5.3bn European RCF
Dalia Gebrial
30 March 2015

Commodity trader Trafigura has signed a $5.3 billion multi-currency revolving credit facility (RCF) with a syndicate of 51 banks. Initially launched at $4.25 billion, the flagship facility for the trader’s European operations was heavily oversubscribed.

Saudi Aramco lands $10bn RCF
Saudi Aramco lands $10bn RCF
Dalia Gebrial
27 March 2015

Saudi Arabian oil company Saudi Aramco has signed a $10 billion standby revolving credit facility (RCF) agreement with a club of 27 banks. The RCF replaces the existing $4 billion agreement signed in 2010.

 EDC finances construction of Hispasat satellite
EDC finances construction of Hispasat satellite
Dalia Gebrial
26 March 2015

Canadian export credit agency (ECA) Export Development Canada (EDC) has provided the Spanish satellite communications operator, Hispasat Group (Hispasat), with a €140 million ($154.13 million) loan for the construction of the Amazonas 5 satellite.