The State Bank of India (SBI) has signed a $200 million loan agreement with the Export- Import Bank of Korea (Kexim).
The Asian Development Bank (ADB) and Standard Chartered Bank (StanChart) have signed a cooperation agreement to support supply chain financing in Asia It is the first partnership of its kind under ADB’s recently launched supply chain finance (SCF) programme.
BBVA has arranged two loans for Enel Green Power (EGP) in Mexico and in Chile in separate loan agreements each valued at $150 million. In the first instance, the bank has arranged a $150 million for the EGP subsidiary Enel Green Power Mexico. The funds will be used to partially cover its investment plan in Mexico over the next few years.
Russia’s Vnesheconombank VEB has signed a credit agreement with Belvnesheconombank (Bank BelVEB) of Belarus to facilitate the export of engines and related equipment. The agreement provides for VEB to extend loan facilities worth $16.7 million to Bank BelVEB.The funds received will then be extended to the Minsk Automobile
Russia’s VTB Bank has announced that it arranged deals worth more than $4 billion in 2013 as part of a drive to develop its international trade and export finance business. The results mean an increase in the relevant portfolio by over 150%.
Russia’s Sberbank Corporate & Investment Banking (Sberbank CIB) has reported a record number of trade finance and documentary operations (TF&DO) implemented for the calendar year 2013. The bank says TF&DO transactions amounted to approximately RUB1.3 trillion ($43 billion).
VTB Leasing and JP Morgan Chase Bank. signed a loan agreement to support the sale of US-manufactured P&H mining equipment to Russia. JP Morgan is providing a seven-year, $53 million loan, with VTB Leasing acting as the borrower.
The European Bank for Reconstruction and Development (EBRD) is providing (KTZ), the national railways company with a $ 40 million loan.
The Africa Finance Corporation (AFC) has signed a $250 million syndicated term loan facility marking its debut in the international syndicated loan market. The facility, which was oversubscribed, has a tenor of two years and will be used to enhance the corporation’s ability to support investment and trade finance across the continent.
ING Corporate Bank has named Anthony van Vliet as the new global head trade & commodity finance (T&CF). He takes over from Paul van Heerde who has been in charge since 1 April 2006. Van Heerde retires at the end of 2014, after a successful career of 28 years at ING
The National Bank of Abu Dhabi (NBAD) has appointed Bernard Shum as the head of corporate & institutional banking in Hong Kong to lead the expansion of NBAD’s business and partnership in Asia.
The Export-Import Bank of the United States (US Ex-Im) has finalised an agreement with MIAT Mongolian Airlines (MIAT) for the export of a US Boeing 767-300ER aircraft with GE engines to MIAT.
Saudi Arabian-based water and power project developer, ACWA Power, has secured a SR1.77 billion Islamic loan from four local banks. The funds will be used to help finance investments including acquisitions and act as a bridge to a sukuk issue in 2014.
The Export-Import Bank of the United States (US Ex-Im) has announced a new slate of members for its advisory committee as of today. Now in its 31st year, the Congressionally-established advisory committee advises US Ex-Im on its policies and programmes, in particular on the extent to which the bank provides competitive financing to support American jobs through exports.
The Export-Import Bank of the United States (US Ex-Im) has just released its figures for its financial year 2013, which reveal the agency has supported a record number of transactions with small and medium-sized businesses (SMEs).
Russian aluminum producer Rusal has signed an agreement with VTB Capital for the establishment of a credit line with a total aggregate amount of up to RUB15 billion ($456 million).
The European Bank for Reconstruction and Development (EBRD) is supporting phase I of the construction and operation of a wind farm in North West Poland with a loan of up to PLN 301 million ($98.6 million). The investment will support Poland’s efforts to increase its generation of renewable energy.
Power company AES Gener, the Chilean subsidiary of US-based AES Corporation, and Chilean copper mining company Antofagasta Minerals (AMSA) have signed the financing agreement for the 531MW Alto Maipo hydro-electric power (HEP) project, east of Santiago in Chile.
The IFC and Standard Chartered Bank (StanChart) have signed a unique risk sharing facility, which will increase the amount of renminbi (RMB) denominated trade finance available to Chinese banks, as well as corporates and businesses in China and across Asia and other emerging markets involved in imports and exports to China.
China Airlines, Taiwan’s largest international carrier, has implemented CashPro Accelerate, a cash-management and treasury solution provided by Bank of America Merrill Lynch (BAML) global transaction services (GTS).
The Export-Import Bank of Korea (Kexim) has signed agreements for increased cooperation in third-country projects with three French organisations that occupy key positions in development finance, the oil industry, and commercial banking. The agreements are with development finance institution Proparco, oil major Total, and commercial bank Société Générale CIB (SG CIB).
Development financial institution Proparco has signed a $40 million loan agreement with Chase Bank (Kenya). The loan, which has a seven-year tenor, will be used for onlending to clients of the bank, and in particular to small and medium-sized enterprises (SMEs) involved in trade.
IFC and Société Générale CIB (SG CIB) have co-arranged a $300 million trade finance facility to fund crude oil imports into Cote d’Ivoire. The arrangement is for the Cote d’Ivoire’s only oil refinery and is designed to guarantee a steady supply of critical energy imports for the country and its landlocked neighbours.
In a new survey on risk published by the Multilateral Investment Guarantee Agency (MIGA) it reveals that foreign investors are increasingly cautious about investing in developing countries in the face of continued global economic and political turbulence.
Schlumberger the world’s largest oilfield services company, has selected Standard Chartered (StanChart) to provide a comprehensive cash management and trade guarantee solution for its Asian businesses.
The European Bank for Reconstruction and Development (EBRD) is providing a new debt facility to Ukrainian agribusiness producer Myronivsky Hliboproduct (MHP Group).
Russian oil exploration and producing company, Gazprom-Neft, has signed a $2.15 billion club term facility agreement with a group of international banks. The heavily oversubscribed loan is one of the largest the company has ever achieved.
The Export-Import Bank of the United States (US Ex-Im) has appointed Charles J ‘CJ’ Hall as executive vice president and chief risk officer. He has 35 years of experience in international economics, finance and business.
French-headquartered development finance institution Proparco has signed a $50 million loan with the pan-Aafrican banking group Ecobank. The loan was signed with Ecobank Transnational Incorporated (ETI), the holding company of Ecobank Group. It has a 10-year tenor. Pricing details were not disclosed.
Standard Chartered Bank (StandChart) and Agricultural Bank of China Limited (AgBC) have signed an agreement to collaborate to provide renminbi (RMB) clearing services in the UK.
The European Investment Bank (EIB) and Enel Green Power International, the financial and controlling holding company of international subsidiaries of the Enel Green Power Group, have closed a financing agreement for €200 million ($272 million) to partially cover investments for wind farms in the Banat and Dobrogea regions of Romania.
Italian export credit agency (ECA) and insurance and financial group Sace, has opened a representative office in Mexico City. The ECA says that the move comes about due to dynamic trade with multinationals operating in the country and the huge business potential for small business enterprises (SMEs
Russian mining and metals company Mechel, has received the first tranche of the project financing for the Elga Coal Complex’s first stage of development. The company is developing the project through the Elgaugol project company.
Bolero International and China Systems, a leading trade services solutions vendor, have established a strategic partnership designed to assist clients involved in trade by providing increased flexibility and functionalities. The agreement finalises the full integration between Bolero Exchange and Eximbills Enterprise, China Systems’ flagship trade finance back office solution.
The European Bank for Reconstruction and Development (EBRD) is supporting the revival of the Kyrgyz capital’s trolleybus service with the arranging of a financing programme.
Stamford, US-headquartered Finacity Corporation has successfully merged of two existing trade receivables securitisations for Mexican glass producer Vitro SAB de CV (Vitro). The combined financing amounts to MXN1.2 billion ($91.5 million).
Metals and energy producer Norsk Hydro has signed a $1.7 billion syndicated revolving multi-currency credit facility with a syndicate of 13 international banks. The facility is for general corporate purposes.
Eksport Kredit Fonden (EKF) and the Banco Nacional de Comercio Exterior (Bancomext), the export credit agencies of Denmark and Mexico respectively, have signed a cooperation agreement, designed to strengthen trade between Denmark and Mexico through the exchange of financial, economic, investment, markets and potential projects.
Wells Fargo and the Export-Import Bank of the United States (US Ex-Im) have combined to arrange financing to support US exports of compressor equipment to Singapore. The export sale is worth approximately $7 million.
Russia’s Sberbank and the Export-Import Bank of Korea (Kexim) have signed a new cooperation agreement relating to the long-term Financing of projects for the amount of $1.5 billion. The agreement was signed by Yong Hwan Kim, chairman of Kexim, and Andrey Ivanov, head of trade finance and correspondent relations at Sberbank.
Finacity Corporation (Finacity) has facilitated the successful launch of a new $350 million global freight receivables securitisation for German-headquartered Hapag-Lloyd Group (Hapag-Lloyd), a leading global shipping company. The programme replaces the company’s existing North American facility.
The African Development Bank Group (AfDB) has signed a ZAR2.9 billion ($338 million) loan to the Nambian Ports Authority (Namport) to finance the construction of the new container terminal at the Port of Walvis Bay in Namibia. The loan is backed by a sovereign guarantee from the government of Namibia. The AfDB is also providing a $1.5 million logistics and capacity building grant complementing the port project loan.
Panama-based Banco Latinoamericano de Comercio Exterior (Bladex) has closed a $125 million syndicated pre-export finance facility in favour of Guatemalan-based Ingenio Magdalena SA (Imsa). The company is one of the largest sugar producers and exporters in Guatemala, and one of the largest exporters of refined sugar in Latin America.
Toyota Capital Malaysia (CAPM) - a joint venture between Toyota Financial Services of Japan and UMW Corporation - has selected SunGard’s AvantGard Treasury (Integrity) to manage treasury and cash management. TCAPM’s business has grown substantially with total managed assets standing at MYR4,078 million ($1.27 billion) as of September 30, 2013.
The Inter-American Development Bank (IADB) has sign two loans totalling $40 million to support Suriname’s electricity generation and power sector. The loans have been approved under the Flexible Financing Facility of the IADB
South African coal mining company, Coal of Africa Limited (CoAL), has signed an 18-month, R210 million (approximately $21.4 million) working capital facility from Investec Bank Limited (Investec). The principal terms of the loan include a margin of 500 basis points, pledge and cession of the shares and loan accounts in the major operating subsidiaries of the group.
KfW IPEX-Bank is providing a €55 million ($75 million) loan to finance German equipment supplies for the expansion of the petrochemical complex of Gail India Limited (GAIL) in Pata (Uttar Pradesh).
First Quantum Minerals (First Quantum) has secured an extension of the tenor, and an amendment of the terms under its existing $2.5 billion credit facility. The signing took place today through FQM (Akubra) Incorporated (FQM Inc), a wholly-owned subsidiary of First Quantum.
Standard Bank has signed a ground-breaking deal with independent power producer Aeolus Kenya (AKL), to build a $150-million wind power plant in Kenya. The 60.8MW Kinangop Wind Park project will be largest wind power generation farm in sub-Saharan Africa to date. The wind power plant will be built in Kinangop Plateau in central Kenya.
Asia-focused Fortune Oil has signed a $300 million loan agreement. The new facility will be used to repay the existing syndicated loan, provide the Company with working capital, and finance new investment.
The fun in the sun returns! Bringing all key players together for two days of networking, we explore case studies of the latest deals and examine the next hot opportunities across the region.
The only dedicated forum for the APAC trade and commodity finance community. Join dealmakers from across Asia-Pacific as we tackle key industry issues and analyse the latest deals in the market.
TXF Africa 2020 will focus on recent and forthcoming developments across regional export, project & commodity finance and explore new opportunities for each market.
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The global export, agency & project finance games return for 2020! Join us in Madrid for the largest gathering of its kind with a vision to taking your network further than ever before.