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US drives through to reach trade and investment positives
US drives through to reach trade and investment positives
Jonathan Bell
10 October 2018

With the new trade agreement between the US and Canada, a revised NAFTA, and the passing of the BUILD Act in the US, Jonathan Bell asks if we are finally beginning to see some positives on trade from the politicians?

Celebrating growth: Top takeaways from TXF West Africa 2018
Celebrating growth: Top takeaways from TXF West Africa 2018
Jonathan Bell
2 October 2018

Last month, TXF gathered a small delegation of senior players active across West Africa to discuss the exciting developments playing out across the region. Here’s just a snapshot of what we concluded.

The changing pace and face of upstream gas
The changing pace and face of upstream gas
Jonathan Bell
26 September 2018

Mega upstream gas projects have been prolific in recent years, but asks Jonathan Bell, how is the industry changing and what can we expect with future projects?

Africa and China – reinforcing the ties that bind
Africa and China – reinforcing the ties that bind
Jonathan Bell
12 September 2018

China is putting more major funds and resources in place to further cement trade and investment ties with Africa, but asks Jonathan Bell is this sustainable and what are the pros and cons for African states?

Mexico and US strike new trade pact to replace NAFTA
Mexico and US strike new trade pact to replace NAFTA
Jonathan Bell
29 August 2018

What does the new trade deal, agreed in principle between the US and Mexico, spell out in the finer detail, and what implications could it have for other trade spats and trade wars that the US has recently instigated? Jonathan Bell takes a closer look and reviews The Week That Was at TXF

Turkey turmoil raises difficult questions
Turkey turmoil raises difficult questions
Jonathan Bell
22 August 2018

The Turkish economy has been overheating. Mounting external debt and the mismanagement of the economy has caused the Turkish Lira to plummet against the US dollar and delivered a serious downgrade in its credit rating. Jonathan Bell examines the consequences of the collapse and what impact this could have on you, as well as what this may mean for other emerging markets and their borrowings, plus his regular look back on the week that was at TXF.

US wages economic war against Iran
US wages economic war against Iran
Jonathan Bell
15 August 2018

With the United States' first wave of economic sanctions on Iran already having a heavy impact on the Iranian economy, Jonathan Bell looks at how this will also affect the country’s relations with major international companies and trading partners.... as well as a look back at "the week that was"

China-US trade punches
China-US trade punches
Jonathan Bell
8 August 2018

Last week's announcement that China plans to impose tariffs on up to $60 billion worth of US goods points to a heating up of the trade war between the two countries. Jonathan Bell takes a closer look at the worsening situation and The Week That Was...

Miners dig in to resolve African resource nationalism challenges
Miners dig in to resolve African resource nationalism challenges
Jonathan Bell
1 August 2018

This week's edition of The Week That Was focuses on recent problems being caused by resource nationalism in Africa's mining sector

Soy it goes!
Soy it goes!
Jonathan Bell
27 July 2018

It would be good to escape from major economic trade factors that are influencing our lives – if only for a while, and for some in the Northern Hemisphere that obviously comes as many folk now take their annual summer vacations.

US-China get electric on the auto front
US-China get electric on the auto front
Jonathan Bell
19 July 2018

Jonathan Bell, Editor-in-Chief at TXF gives us his take on news that Tesla is to build an EV Gigafactory in Shanghai, as well as a review of TXF's market coverage from the last 7 days

Vesteri to be presented with TXF Industry Fellowship Award
Vesteri to be presented with TXF Industry Fellowship Award
Max Thompson
31 May 2018

Topi Vesteri, Deputy CEO, Group CCO at Finnvera and President at the International Union of Credit & Investment Insurers (Berne Union) is to be honoured with the TXF Industry Fellowship Award in recognition for his exceptional service to the international export finance sector.

Top takeaways from TXF Natural Resources & Commodity Finance 2018
Top takeaways from TXF Natural Resources & Commodity Finance 2018
Jonathan Bell
22 May 2018

From patterns in consolidation, competition and coal to local liquidity, legal issues and leveraging the power of sustainability, there were a number of content takeaways from two days of dynamic debate and discussion at TXF Amsterdam 2018.

CJ Hall leaves US Ex-Im: a vital US agency hamstrung by politics
CJ Hall leaves US Ex-Im: a vital US agency hamstrung by politics
Jonathan Bell
4 December 2017

Charles Hall, the acting chairman of US Ex-Im has retired from the bank. What does this mean for the agency which is still without a board quorum and unable to approve new export deals over $10 million?

Texel Finance celebrates 20 years of growth
Texel Finance celebrates 20 years of growth
Jonathan Bell
4 December 2017

London-headquartered insurance broker Texel Finance is about to celebrate 20 years in the business as of 1 December. TXF editor-in-chief Jonathan Bell, caught up with Texel chairman Andy Lennard to talk about the growth of the company and the future for the sector.

ECIC and South African exporters revitalise the export effort
ECIC and South African exporters revitalise the export effort
Jonathan Bell
8 November 2017

At the TXF Cape Town conference in October, Kutoane Kutoane, CEO, Export Credit Insurance Corporation of South Africa (ECIC) took time out to talk with TXF editor-in-chief, Jonathan Bell, about the changing focus of ECIC and the new push now being made for South African exports with a greater emphasis on markets across the African continent.

BBVA: A bigger slice of ECA-backed pie
BBVA: A bigger slice of ECA-backed pie
Jonathan Bell
19 October 2017

Following a sweeping reorganisation in 2015, BBVA is looking at double-digit growth for its 2017 global trade business – and gearing for a much bigger share of the global ECA-backed loan market.

Digitisation of receivables: In the spotlight at ITFA Edinburgh meeting
Digitisation of receivables: In the spotlight at ITFA Edinburgh meeting
Jonathan Bell
2 October 2017

One of the many hot topics under the spotlight at the ITFA annual conference, this year held in Edinburgh, was the subject of digitisation and standardisation of receivables, the role that fintechs are now having in that space and the impetus being given to the use of platforms for the distribution of trade-related assets on the secondary market.

Delete
Delete
Jonathan Bell
15 August 2017

The week that was

Bashing US Ex-Im continues to damage US exporters and industry
Bashing US Ex-Im continues to damage US exporters and industry
Jonathan Bell
28 July 2017

Anti US Ex-Im comments from the US is nothing new over the past couple of years, but the latest anti-blast coming from the Wall Street Journal is just plain wrong. Politics seems to be at play in this case and it is American exporters who will continue to suffer.

Shop talk: The reflections and forecasts of Peter Luketa
Shop talk: The reflections and forecasts of Peter Luketa
Jonathan Bell
20 April 2017

Peter Luketa, former global head of export finance at HSBC, led one of the most successful teams within the export finance sector. With 20 years of ECA-backed lending under his belt, he speaks with TXF’s editor-in-chief about the evolution of the product line and the potential for a $100 billion annual market.

US budget plans see Ex-Im remaining – but in what form?
US budget plans see Ex-Im remaining – but in what form?
Jonathan Bell
17 March 2017

It is now less than three weeks to the annual US Export-Import Bank (Ex-Im) meeting in Washington DC. The Ex-Im bank still does not have full re-authorisation, it does not have a chairman, and it does not have a quorum of board members –

Continuity and change in credit and political risk insurance
Continuity and change in credit and political risk insurance
Jonathan Bell
27 February 2017

Jonathan Bell talks with Anthony Palmer about his 41 years in the credit and political risk insurance (CPRI) market, the key events that have shaped its development, and what the future holds for BPL Global.

TXF Deal of the Year 2016 Award submissions due to close on 23rd January
TXF Deal of the Year 2016 Award submissions due to close on 23rd January
Lucy Palfreeman
4 January 2017

We are looking for the most innovative, market influencing transactions within trade, commodity, ECA/DFI-backed and project financing.

Combined agency and private finance sees Bangladesh Sirajganj power project across the line
Combined agency and private finance sees Bangladesh Sirajganj power project across the line
Jonathan Bell
3 January 2017

In a triumph for Bangladeshi project financing, agencies and private companies have come together to secure the financing for the Sirajganj BOOT power project, which will provide much-needed FDI and ultimately power to the country’s grid.

An open letter to Donald Trump - export to revitalise the US economy
An open letter to Donald Trump - export to revitalise the US economy
Jonathan Bell
12 December 2016

International competition for contracts and projects in overseas markets is intense. As such, US exporting companies and contractors need the full support of an empowered US Export-Import Bank (US Ex-Im) to prosper on the international stage.

Kai Preugschat set to depart the Berne Union for ADB
Kai Preugschat set to depart the Berne Union for ADB
Jonathan Bell
19 October 2016

The Berne Union’s secretary general, Kai Preugschat, is leaving the organisation to take up a high-level position within the Asian Development Bank (ADB) in Manila, Philippines. In his new role he will have the title head of the office of co-financing operations.

Landmark $500m stand-by LC set to transform Ghana power generation
Landmark $500m stand-by LC set to transform Ghana power generation
Jonathan Bell
6 October 2016

In a ground-breaking transaction for Ghana, HSBC and Standard Chartered Bank have issued a $500 million stand-by letter of credit on behalf of Ghana National Petroleum Corporation to make payments for natural gas deliveries. The transaction is related to gas supplies from Ghana’s Sankofa gas field and will be transformational in the development of power generation within Ghana.

Norilsk secures $500 million of new money through unsecured club deal route
Norilsk secures $500 million of new money through unsecured club deal route
Jonathan Bell
5 October 2016

Russia’s Norilsk Nickel has signed a five-year $500 million committed revolving back-stop credit facility (RCF) with a group of international banks. The transaction is on an unsecured basis and is new money, shining a positive light on the Russian market.

Sibos descends on Geneva
Sibos descends on Geneva
Jonathan Bell
4 October 2016

Those of you unfamiliar with the annual jamboree which is the wonderful SIbos – the world’s largest financial conference/exhibition – will possibly be oblivious to the scale and intensity of the event, and its impact and influence in the short-term trade, FI and fintech community.

ITFA panel emphasises role of distribution for trade growth
ITFA panel emphasises role of distribution for trade growth
Jonathan Bell
22 September 2016

One of the key themes to come out of the recent ITFA conference held in Warsaw was the increasing importance of the role of distribution and syndication within trade to help achieve success in the changing and challenging market environment.

Mizuho boosts team with hire of Tim Lamey as EMEA head of export finance
Mizuho boosts team with hire of Tim Lamey as EMEA head of export finance
Jonathan Bell
6 September 2016

Mizuho Bank has boosted its team in the EMEA region with the hire of Tim Lamey as head of export and structured trade finance, EMEA. The appointment will give Mizuho a significant boost as it takes the export finance product and structured trade business lines

SMBC pays tribute to Turnbull as STCF is reorganised in London
SMBC pays tribute to Turnbull as STCF is reorganised in London
Jonathan Bell
2 September 2016

SMBC has reorganised its structured trade and commodity finance (STCF) groups in London within its global trade finance department. As part of the reorganisation it is understood that the singular role of global head of STCF, held by John Turnbull, will no longer exist.

Olympics gives Brazil some cover
Olympics gives Brazil some cover
Jonathan Bell
11 August 2016

Summer in the northern hemisphere is usually a slow period for export credit agency (ECA) and DFI-backed financing, but this year I can’t help noticing that it is one of the slowest yet. Still – let’s face it, much of the financing world, particularly in Europe, seem to be on nice long holidays. And, of course – it is an Olympics year after all.

HSBC in Mexico makes senior appointment to GTRF team
HSBC in Mexico makes senior appointment to GTRF team
Jonathan Bell
29 July 2016

HSBC has appointed Beatriz Monteagudo as head of the transaction management unit joining the global trade and receivables finance (GTRF) business in Mexico.

TXF awarded ‘Best Trade Finance Journal’ by TFG
TXF awarded ‘Best Trade Finance Journal’ by TFG
Helen Reid
26 July 2016

Trade & Export Finance News (TXF) has been named best trade finance journal by Trade Finance Global (TFG) in its annual product awards for excellence, which recognise companies innovating in the trade finance sector.

SG appoints Agnès Joly as global head of trade services
SG appoints Agnès Joly as global head of trade services
Jonathan Bell
25 July 2016

Société Générale (SG) global transaction banking (GTB) has appointed Agnès Joly as global head of trade services. Based in Paris, she reports to Christian Behaghel, head of global transaction banking.

Stolt-Nielsen secures $325m loan for Jo Tankers acquisition
Stolt-Nielsen secures $325m loan for Jo Tankers acquisition
Jonathan Bell
22 July 2016

Stolt-Nielsen Limited, a Bermuda based provider of integrated transportation solutions for chemicals, and bulk liquids, has secured a $325 million loan with three relationship banks to acquire the chemical tanker operations and assets of Norway’s Jo Tankers.

Santander appoints new head of GTB in the US
Santander appoints new head of GTB in the US
Jonathan Bell
22 July 2016

Banco Santander has appointed Mariano Urquiola as its new head of global transaction banking (GTB) US. He is based in New York and reports to Federico Papa, head of global corporate banking in the US.

Export finance succession in place at HSBC
Export finance succession in place at HSBC
Jonathan Bell
19 July 2016

HSBC has set out its stall for the future leadership of its export finance department through a shake-up which sees new heads taking the business line forward.

The good, the bad, and who knows what or where next!
The good, the bad, and who knows what or where next!
Jonathan Bell
4 July 2016

The past month of June has been a busy time for TXF, with two of our landmark conferences – TXF Rome and TXF London – blazing their way into the market and both proving to be resounding successes. But it has also been a time of great disappointment for me and colleagues, with the UK population voting to leave the European Union (EU).

Sucden secures $400m in RCF and brings six new banks into the facility
Sucden secures $400m in RCF and brings six new banks into the facility
Jonathan Bell
30 June 2016

Commodity trading company Sucres et Denrées (Sucden) has successfully signed its revolving credit facility (RCF) for a total of $400 million, bringing six new banks into the syndicate.

Mercuria closes $2.2bn RCF, but takes less than last year
Mercuria closes $2.2bn RCF, but takes less than last year
Jonathan Bell
14 June 2016

Mercuria Energy Trading has closed its $2.2 billion multi-currency revolving credit facilities. In a sign of the times of banks’ appetite for strong commodity trading company assets, the syndication was oversubscribed by almost 25%. However, the final take by the company is $300 million less than last year’s take.

 ING closes PDP financing for Ethiopian Airlines
ING closes PDP financing for Ethiopian Airlines
Jonathan Bell
13 June 2016

New York-based ING Capital has closed a $107.5 million pre-delivery payment (PDP) financing for Ethiopian Airlines in respect of Airbus A350-900 aircraft.

CALC broadens its financing base as it signs $195m debut syndicated loan
CALC broadens its financing base as it signs $195m debut syndicated loan
Jonathan Bell
3 June 2016

China Aircraft Leasing Holdings looks to a busy future of aircraft supply with regional carriers as it signs its debut syndicated loan facility for $194.7 million involving an expansion of its lender base.

Zurich appoints Dave Anderson as global head of Credit & Political Risk
Zurich appoints Dave Anderson as global head of Credit & Political Risk
Jonathan Bell
31 May 2016

Dave Anderson has been announced by Zurich Insurance as their new Global Head of Credit & Political Risk. He has been with Zurich for 14 years, most recently as their global business development director for Credit & Political Risk.

Commodity bankers find reasons to be cheerful
Commodity bankers find reasons to be cheerful
Jonathan Bell
30 May 2016

One week on from the best ever TXF Natural Resources and Commodities Conference in Amsterdam, and there is so much to report on activity in the commodity finance sector, and many positives to take-away.

First Quantum signs new $1.8bn loan with improved financial covenants
First Quantum signs new $1.8bn loan with improved financial covenants
Jonathan Bell
30 May 2016

Mining company First Quantum Minerals has completed a new $1.8 billion term loan and revolving credit facility with its core relationship banks that gives it revised financial covenants and an extended amortisation schedule.

EBRD’s TFP continues to spread its wings
EBRD’s TFP continues to spread its wings
Jonathan Bell
16 May 2016

The EBRD’s Trade Facilitation Programme is further embedding itself in countries of the new region – Jordan, Morocco, Tunisia, Turkey, Egypt and Cyprus – where financial institutions are finding significant mileage in utilising services under the TFP.

BEST SOFT COMMODITY FINANCE DEAL OF THE YEAR: Cocoa Touton $80m prepayment provides new dimension
BEST SOFT COMMODITY FINANCE DEAL OF THE YEAR: Cocoa Touton $80m prepayment provides new dimension
Jonathan Bell
4 May 2016

The $80 million prepayment to Cocoa Touton Processing is a landmark financing for West Africa, bringing added-value processing on a major scale to Ghana. Jonathan Bell reports.