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.
With TXF Global 2018: Export & Agency Finance just around the corner, we cast our eyes at the agenda for some of our favourite sessions taking pla...
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.
Ashurst has promoted project finance lawyers Umberto Antonelli, Anna Hermelin, Krista Payne and Jonathan Turner to partner. The promotions are part of the appointment of 24 new partners across the firm.
Jonathan White has been appointed as the new head of its UK infrastructure, building and construction practice at KPMG. The 20-year KPMG veteran succeeds Richard Threlfall, who became the group's global head of infrastructure earlier in the year.
Cozen O’Connor announced today that Jonathan A. Ballan has joined the firm as co-chair of its Public & Project Finance Practice Group. Ballan who has overseen financings for the Yankee Stadium in the Bronx, the Barclays Center in Brooklyn, and the LaGuardia Airport Terminal B Reconstruction Project in Queens .
The Asian Development Bank (ADB) has signed a $32 million loan agreement with Spayka Limited Liability Company, a food producer and exporter in Armenia, to help the company expand greenhouse operations and increase exports. The project will help expand Spayka's operations, particularly in horticulture and supply chain management, through the development of 30 hectares of climate-controlled greenhouses equipped with drip irrigation systems to produce tomatoes and bell peppers for export, particularly to the Russian Federation and the United Arab Emirates.
Mizuho Americas has hired Jonathan Yellen as Managing Director and Head of Power and Infrastructure for Americas Project Finance. He will be responsible for advising clients and executing non-recourse financings for large-scale, capital-intensive power and infrastructure assets across North and South America. Yellen has served in senior roles at Morgan Stanley, Deutsche Bank, and Credit Suisse.
Oman Liquefied Natural Gas LLC (Oman LNG) has signed a major sale and purchase agreement (SPA) for supplying LNG to BP Singapore Pte Ltd, the trading arm of BP Plc, as per a recent newswire report. The announcement was made by Harib al Kitani, Oman LNG's CEO and Jonathan Shepard, COO of BP's LNG portfolio. As per the deal, BP's Singapore-based trading arm will buy 1.1 million metric tons per annum (MMTPA) of LNG for seven years from Oman LNG's Khazzan gas field.
US-based global law firm Akin Gump has elected 15 new partners, They are Peter I Altman (Los Angeles), Matthew D Bivona (Dallas), Sam Brodie (London), Jason M Daniel (Dallas), Christian C Davis (Washington, D.C.), Brett Daniel Fieldston (New York), Hyongsoon Kim (Irvine), Alissa Miller (Los Angeles), Matthew C. Nesburn (Los Angeles), Brian Glenn Patterson (Houston/Dallas), Jonathan R Pavlich (New York), Jonathan A Ross (New York), Jason P Rubin (New York), Alan Yanovich (Geneva), Jacqueline Yecies (New York).
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?
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.
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.
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.
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.
The partnership between banks and digital providers is growing, but does it guarantee digital growth and inventory savings for trade finance, or is it all for show?
A multi-jurisdictional corruption probe into oil sector deals under the previous Nigerian administration is gaining pace and implicates both multinational commodity traders and oil production companies.
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.
The second restructuring of Glencore’s pre-pay deal with SHT, combined with more deal volume and the increasingly risky markets traders are financing, is flagging up the growing risk banks take as indirect lenders to prepayment loans by the major commodity traders.
Global law firm Norton Rose Fulbright has hired Jonathan Siu and Sung Hwan ('SD') Choi to its shipping and offshore oil and gas team in Singapore office. Siu joins as senior associate from Allen & Overy, while SD Choi joins as counsel from Campbell Johnston Clark.
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.
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 –
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.
We are looking for the most innovative, market influencing transactions within trade, commodity, ECA/DFI-backed and project financing.
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.
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.
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.
The Chinese government’s change in rules dealing with foreign investment offshore could see an increase in international bank financing in the country. Fangyuan Group’s recent pre-delivery facility was mandated ahead of the regime change in May and could set the tone for the foreign financing of Chinese producers in the future.
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.
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.
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.
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 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 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.
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 has appointed Beatriz Monteagudo as head of the transaction management unit joining the global trade and receivables finance (GTRF) business in Mexico.
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.
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 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.
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.
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.
Insurer Atradius has hired Jonathan Handen as senior manager, Special Products Unit. Handen, who will be based in the US, has more than 18 years of experience in the trade credit insurance industry.
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).
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 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.
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.
Japan's Mitsubishi UFJ Financial Group (MUFG) has promoted Jonathan Lindenberg to the newly-created position of deputy head of investment banking for the Americas. He assumes oversight of the commodity and structured trade finance, funds finance, and stable value products businesses.
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.
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.
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.