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Keeping it liquid: Auramet makes ripples in loan market
Keeping it liquid: Auramet makes ripples in loan market
Oliver Gordon
3 July 2018

Precious metals trading is a tough market to survive in without a bulging balance sheet. But in just 14 years Auramet has gone from zero to $11 billion in revenue and has now debuted in the syndicated loan market. Auramet chief financial officer, Mark Edelstein talks markets, financing strategy, and surviving presidential tweets.

Green bonds: Starting to take root in Latin American infrastructure
Green bonds: Starting to take root in Latin American infrastructure
Oliver Gordon
14 June 2018

Despite the fast global growth in the international green bond market, Latin America has only recently started to adopt the trend. The region’s infrastructure and investment needs present a major opportunity for green bond growth, but a lot of groundwork is still needed to gets investors comfortable.

Argentinean PPP: Investors stay focused
Argentinean PPP: Investors stay focused
Oliver Gordon
7 June 2018

Despite Argentina's recent FX troubles, investor appetite for its new $26 billion PPP programme remains strong – in part because investors are taking a long term view, but also because of the bankability built into the way the concessions are structured.

Change of clothing: Can ECAs become champions of sustainability?
Change of clothing: Can ECAs become champions of sustainability?
Oliver Gordon
5 June 2018

The ICC has established a working group aimed at fostering a greater sustainable development agenda in export finance. Is it just tinkering? And does it have any chance of making real change?

Reversing the brain drain in export finance
Reversing the brain drain in export finance
Max Thompson
29 May 2018

The export finance industry has an ageing demographic. Much of the knowledge and talent in the industry comes from practitioners with over 30 years’ experience. However, with retirement just around the corner for many, it has never been more important to educate and attract young people to the community. But where will the talent come from, and who will teach the new generation?

Reversing the brain drain in export finance
Reversing the brain drain in export finance
Max Thompson
29 May 2018

The export finance industry has an ageing demographic. Much of the knowledge and talent in the industry comes from practitioners with over 30 years’ experience. However, with retirement just around the corner for many, it has never been more important to educate and attract young people to the community. But where will the talent come from, and who will teach the new generation?

Oliver Socher
28 May 2018

Partner at Baker & McKenzie worked on 22 deals.

Another confusing link to the blockchain
Another confusing link to the blockchain
Oliver Gordon
8 May 2018

As a growing number of blockchain initiatives start live testing, albeit in controlled environments, trade tech is moving to an even more confusing level – a plethora of rival product claims backed by proofs of concept. Choice of tech and provider is about to get even more complicated.

$44bn blockage – the price of political dogma
$44bn blockage – the price of political dogma
Oliver O'Connell
3 May 2018

There was solid support for US Ex-Im from legislators from both sides of the US political spectrum at the ECA’s annual conference. But will that support result in any action to remove the political minority blocking an effective Ex-Im?

Oliver Irwin joins Bracewell as finance partner in London
1 May 2018

Bracewell has poached Oliver Irwin from Milbank, Tweed, Hadley & McCloy to join the firm’s London office as a finance partner. Irwin specialises in project, energy and infrastructure finance. He is the third partner to join Bracewell’s global projects team since the start of 2018. In March, Bracewell added Fernando J. Rodriguez Marin and Nicolai J. Sarad to its project finance team in New York. In addition, Irwin’s arrival deepens the bench of Bracewell’s London office, which in December established an energy disputes practice with the arrival of John Gilbert and Damian Watkin.  

Dethroned and panned: Is it all over for Noble?
Dethroned and panned: Is it all over for Noble?
Oliver Gordon
30 April 2018

As Noble Group looks to force through a controversial restructuring amid lawsuits and media spats with shareholders, what could a new Noble look like? And will regulatory change follow the trader’s downfall?

Oliver Roth
12 April 2018

Director Structured Export Finance at ING Bank worked on 49 deals.

New SACE: Listening pays
New SACE: Listening pays
Oliver Gordon
10 April 2018

Since the CDP-SACE-SIMEST restructuring in 2012, SACE has transformed from tired state relic into one of the world’s leading providers of export credit cover. It has the funding, it has the products – but most of all it has local knowledge from its listening posts in key Italian export markets.

One stop advisory shop: PwC’s new ECA offering  
One stop advisory shop: PwC’s new ECA offering  
Oliver Gordon
3 April 2018

PricewaterhouseCoopers (PwC) recently launched a new advisory practice – the ECA Advisory Practice for Capital Projects – aimed at helping export credit agencies deal with increasingly complex capital projects. Co-heads of the new team – Heiko Lentge and Alexander Wuermeling – outline the benefit to ECAs of their new approach.

Mexican renewables: Flagged for funding
Mexican renewables: Flagged for funding
Oliver Gordon
28 March 2018

Five years on from the Mexico's landmark energy sector reforms, a spate of recent financings – one without DFI backing – support market expectation that the pace of project financing in the domestic renewables market will pick up over the coming year.

Oliver Wyman and Clifford Chance report on Brexit red tape costs
28 March 2018

Oliver Wyman and Clifford Chance have teamed up to produce a detailed report on the likely red tape costs of new tariff and non-tariff barriers that could be imposed on trade between the UK and EU27 if the EU and UK revert to a World Trade Organization trading relationship post Brexit. The report notes that even if the new customs agreement was broadly the same as the EU customs union, the annual new red tape costs to the UK would be £17 billion (equivalent to 1% of GVA) and the EU27 impact £14 billion (equivalent to 0.2% of GVA).

The rise and rise of Liberty House
The rise and rise of Liberty House
Oliver Gordon
23 March 2018

Sanjeev Gupta is the man behind the ascent of Liberty House from commodity trading start-up into an international metals and industrials group. And in conversation with TXF, Gupta appears to have only got started.

Challenger banks: Secrets and allies?
Challenger banks: Secrets and allies?
Oliver Gordon
20 March 2018

Having made a splash in the retail and SME banking spaces, a new breed of lender is setting its eyes on the trade finance market. But what are these newbies to traditional lenders and will they really inject more competition into the trade lending space?

'No deal' Brexit could cost UK, EU companies £58bn
13 March 2018

A 'no-deal Brexit' could leave companies in Britain and the EU facing an extra £58 billion in annual costs - with the financial sector set to be the worst-hit industry, according to a new report by Oliver Wyman management consultants and law firm Clifford Chance. Firms across the EU’s 27 countries other than Britain will have to pay £31 billion a year in tariff and non-tariff barriers if Britain leaves the bloc without a deal. British exporters to the EU will in return have to pay £27 billion a year, the report states.  

Talking trade tech
Talking trade tech
Oliver O'Connell
7 February 2018

TXF catches up with Kitt Carswell, vice president, senior offering manager, trade and supply chain, at CGI, a global information technology consulting company, to reflect on trade tech market themes for 2018.

Ruta al Mar: Opening a new 4G funding fast lane
Ruta al Mar: Opening a new 4G funding fast lane
Oliver Gordon
5 February 2018

A pioneering loan/bond financing for Colombia's Ruta al Mar highway project may serve as the shot in the arm needed to reignite appetite for the country’s 4G roads financing programme after a year spent on the sidelines.

Deadlocked on debt
Deadlocked on debt
Oliver Gordon
30 January 2018

Iran has yet to produce the project and trade flows bankers hoped for following signing of the JCPOA in 2016. The hurdles are largely born of the Trump administration – but not all. And while European lenders remain wary, Iran is looking eastward for debt.

Does finance need more innovation?
24 January 2018

Financial services need to harness innovation to create better customer outcomes at the risk of self-disruption, according to management consultant Oliver Wyman, while fintech hub, The Floor, argues that banking is striking back in innovation.

M&G Investments hires Oliver Wilson from RBS to head asset based lending
12 December 2017

UK-based investment manager M&G Investments has hired Oliver Wilson as head of asset based lending in the company's direct lending team. Wilson, who will be based in London, joins from Royal Bank of Scotland Group's asset based lending division.

Time to pay up: the importance of claims payments data
Time to pay up: the importance of claims payments data
Oliver O'Connell
24 November 2017

In a recent report to mark 20 years of Zurich’s Credit and Political Risk programme, the insurer revealed that some $934 million in claims have been paid to business customers. Oliver O’Connell spoke with David Anderson, managing director at Zurich Credit & Political Risk, about trends in claims payments and why publishing claims payment data is so important to the market.

Oliver Wyman: The endgame for commodity traders
22 November 2017

A new Oliver Wyman reports explains why only the biggest and most digitally-advanced commodity traders will thrive as the industry confronts a new, less profitable reality.

The real risks and rewards of trade receivables
The real risks and rewards of trade receivables
Oliver O'Connell
3 November 2017

In a new white paper, Pacific Life Insurance Company director of treasury Lance Doherty, and Adam Dener, managing principal at Fermat Capital Management, lay out the case for developing an alternative asset class of confirmed receivable purchases.

Oramah: Making Africa great again
Oramah: Making Africa great again
Oliver O'Connell
25 October 2017

In a recent speech, Dr Benedict Oramah, president of the African Export-Import Bank (Afreximbank), outlined plans to seize upon continental political will, reverse-engineer the legacy of colonialism, and promote intra-African trade and integration.

Colombian infrastructure: Bridging the bankability gap
Colombian infrastructure: Bridging the bankability gap
Oliver Gordon
20 October 2017

Colombia’s $70 billion infrastructure programme has hit a few bankability hurdles in the past year. But the government has reacted proactively and is generating significant new lender interest in the second phase of its 4G Highway PPP plan.

TXF launches the 2017-2018 Exporters’ and Importers’ surveys
TXF launches the 2017-2018 Exporters’ and Importers’ surveys
Oliver O'Connell
22 September 2017

The 2017-2018 surveys of exporters and importers are now open. Take part today to ensure you have your say about the performance of export finance market service providers.

Head of shipping and aircraft finance departs NordLB
14 August 2017

Oliver Faak, global head of shipping and aircraft at NordLB has departed the bank. Faak’s role is now to be divided between separate global heads for each of the two sectors.

Commodity trade tech: The new key to making the margins
Commodity trade tech: The new key to making the margins
Callum Burroughs
16 June 2017

The changes that technology will bring to the commodities space are manifold. What can commodity trade finance expect from new technology and, more importantly, is it ready for it?

Perfect 10 Vitol Upstream Ghana: Unusual requirements - Unique solution - a TXF ECA/project finance Deal of the Year
Perfect 10 Vitol Upstream Ghana: Unusual requirements - Unique solution - a TXF ECA/project finance Deal of the Year
Sean Keating
12 May 2017

The first African upstream oil and gas development loan to feature a European export credit agency supporting a project finance/reserves-based lending hybrid, Vitol’s OCTP financing was a unique solution to an unusual set of borrower requirements.

Latin American oil and gas: A Pemexican standoff?
Latin American oil and gas: A Pemexican standoff?
Oliver Gordon
11 May 2017

Pemex kicked off 2017 with a record-breaking eurobond and the announcement of a halving of losses in 2016. The debt-ridden oil producer has even put in place an innovative supply chain finance programme backed up by Nafinsa and Greensill Capital. But should investors and lenders still exercise extreme caution?

Net benefits: De-risking greenfield for institutional investors
Net benefits: De-risking greenfield for institutional investors
Oliver O'Connell
27 April 2017

To coincide with the IMF Spring Meetings, MIGA recently held a panel discussion to showcase multilateral breakthroughs in credit enhancement that enable borrowers to tap into the institutional market for greenfield project funding.

Out of kilter: Non-bank SCF providers need revenue growth
Out of kilter: Non-bank SCF providers need revenue growth
Helen Castell
21 April 2017

Supply chain finance pure-play providers' use of traditional fee models is causing revenue to be far smaller than increases in new business volumes would suggest. Should they take a punt on new fee models, explore other products to generate fresh revenue streams, or simply beg patience from their investors?

 Uruguyan wind: Small market - big impact
Uruguyan wind: Small market - big impact
Oliver Gordon
18 April 2017

Uruguay is the MacGyver of clean energy development. Equipped with just some pocket change from the UN’s climate fund, the country has become a global standard-bearer for wind power in just a decade. But is the market nearing saturation in terms of project borrowing?

US Ex-Im in cuffs: Hall says it as it is
US Ex-Im in cuffs: Hall says it as it is
Oliver O'Connell
6 April 2017

In a blunt welcome address on day one of US Ex-Im's annual conference, Charles Hall, acting US Ex-Im chairman and president, outlined the wider global context in which the official US agency finds itself and called for a return of all its functions to enable the US to meet global export challengers.

Equiniti International Payments appoints six new staff
15 March 2017

Global payments provider Equiniti has appointed six new staff, including Aftab Baig as head of fincrime compliance (interim), Thomas Campbell as business development director and David Poore as relationship management director. Oliver Ayres and Callum Miles have also joined as business development manager and business development associate, while Amy Kiplin joins as head of marketing.

Latin America: SCF’s missing link
Latin America: SCF’s missing link
Helen Castell
13 March 2017

With fierce competition at home forcing European and US supply chain finance (SCF) providers to hunt fresh revenue opportunities, Latin America could be the next big opportunity, believes Oliver Belin, consultant and director of supply chain finance at Sovos.

UKEF appoints Peterken as new non-executive director
1 February 2017

Export credit agency UK Export Finance (UKEF) has appointed Oliver Peterken as a non-executive director on its board. The insurance sector veteran will provide guidance and oversight of UKEF's risk management and underwriting activities.

Oliver Irwin
24 January 2017

Partner at Bracewell & Giulani worked on 15 deals.

Financial services must transform for future value
17 January 2017

The digitised world presents financial services with a transformation challenge, according to global management consultancy Oliver Wyman. Digitising purely to boost efficiency is insufficient for new shareholder value creation for the firms.

The age of uncertainty: Trade wars and laws in 2017
The age of uncertainty: Trade wars and laws in 2017
Lucy Palfreeman
23 December 2016

Forecasts for trade since the financial crisis have been steady. Now, political anxiety and regulatory tightening casts a huge shadow of ambiguity over the trade outlook for 2017. Trump, Brexit and China have all rocked the trade plateau, making the trade finance arena next year ever more uncertain, and open for increasing speculation.

S&W Breakfast Briefing: Catching up with trade's issues
S&W Breakfast Briefing: Catching up with trade's issues
Oliver Gordon
20 December 2016

In the latest edition of law firm Sullivan & Worcester's Trade Finance Breakfast Seminars, partner Geoffrey Wynne provides a round-up of the current issues facing the trade space, summing up the regulatory landscape as well as touching on developments in industry documentation.

S&W Breakfast Briefing: Payment instruments
S&W Breakfast Briefing: Payment instruments
Oliver Gordon
5 December 2016

In the latest edition of law firm Sullivan & Worcester's Trade Finance Breakfast Seminars, partner Simon Cook discusses payment instruments and other trade-related documentation.

Will commodity traders embrace trade financing’s digital future?
Will commodity traders embrace trade financing’s digital future?
Callum Burroughs
11 November 2016

As the dazzling array of online trade tools and products continues to evolve, the diverse world of trade and commodity finance has begun to seek out digital solutions to help tackle efficiency and some complex problems. Commodity traders have operated with traditional methods for decades but research suggests they too will have to adopt digital opportunities to stay competitive in the future.

False friends? Trade finance keeps calm despite trade flow woes
False friends? Trade finance keeps calm despite trade flow woes
Callum Burroughs
9 November 2016

Reduced growth forecasts for global trade from the WTO has caused consternation among businesses and economies as the gloomy outlook sees trade flows dip below GDP growth. However, the trade finance market has retained its confidence for now as macro-economic changes seemingly fail to have an impact on the industry.

S&W Breakfast Briefing: Digitalisation of trade finance
S&W Breakfast Briefing: Digitalisation of trade finance
Oliver Gordon
8 November 2016

In the latest edition of law firm Sullivan & Worcester's Trade Finance Breakfast Seminars, partner Geoffrey Wynne discusses whether digitalisation can end paper-based trade finance, and to what extent that is happening now.

Commodity traders must go digital or face extinction
27 October 2016

Commodity giants such as Vitol, Glencore and Trafigura will have to embrace the digital revolution, consultancy Oliver Wyman warns. Adopting blockchain early will give groups a "significant" advantage.