Promising but fragile
Vibrant, wealthy and benefiting from soaring oil prices, the Middle East’s importance as a global trade centre is obvious. But with war, uncertainty and generations-old conflicts continuing
Why risk Saudi
Projects and trade flows abound in Saudi Arabia, but serious questions remain concerning the country’s education and labour markets and its stability. Helen Castell reports.
2004 has been somewhat of a bumper year for financiers and traders. GTR has chosen just 15 deals, however, that stood out during the year and are recipients of our ‘Best Deal of 2004's awards.
Setting a benchmark for Ukraine
Bank Aval, Ukraine, signed a US$45 million syndicated trade-related term loan lead arranged by Deutsche Bank AG London, RZB and Raiffeisenbank Ukraine in August. The facility, which was initially
Multisourcing giant
GTR is a trade, commodity and export finance journal but we do have to keep up with the project finance market - as many of these deals have export elements of course. With this in mind, we
Jamaica matures
A complex transaction involving three official agencies was signed in August for a US$96 million telecoms expansion finance facility in Jamaica. Structured with full recourse to Cable & Wireless Plc, this tr
Local funding landmark
The largest single debt fundraising ever seen in the local Kenyan market closed at the end of 2004 - definitely a worthy recipient of a GTR ‘Best Deal of 2004’s award and an indication of what
We very rarely cover trade in developed markets here at preferring to concentrate on emerging markets. But the following deal did warrant a mention and indeed the title of a "Best Deal of 2004".
Ringing in the changes in Saudi
A US$2.35 billion Islamic transaction has set a benchmark for Islamic financing deals in years to come by becoming the biggest Islamic finance to date and the largest debt transaction ever comple
Promising for Palestine
The Gaza Strip in Palestine is an unlikely place for attracting financial backing of US$150 million for a 140MW power plant development, but 2004 saw the coming together of several years of planning and
ECA takes full Ukraine risk
In December 2004, Citigroup as the sole arranger, facility agent and sole lender, closed an innovative financing for Kiev Cardboard and Paper Mill (KCAPM) in Ukraine which the bank claimed as the fir
Indian power precedent
HSBC and BNP Paribas closed a landmark power deal in India in August. Bankers working on the transaction believed it was the biggest financing that year for the Indian power sector, as well as the biggest
Private precedent in Pakistan
The first multi-export credit agency (ECA)-supported financing for the telecoms sector in Pakistan since 1998 and the country’s first and largest ECA-supported loan for the private sector du
Heavy metal
The largest metals and mining syndicated term loan arranged to date in Russia closed in October 2004. The US$800 million structured aluminium pre-finance facility in favour of Rual Trade Ltd (BVI), a 100% subsidiary
Descending the risk ladder
SG Corporate & Investment Banking arranged, fully underwrote and funded a US$382 million financing first for Algeria during 2004. The deal is guaranteed by US Ex-Im Bank and Export Development Can
New corporate era for Tunisia
In February 2004, a landmark financing transaction in Tunisia was set up by Société Générale Corporate and Investment Banking (SGCIB), to support the export of communic
Iraq write-off puts Paris Club role in spotlight
Paris Club influence has paved the way for an 80% debt write off, reports Heleen Rijkens of Omni Whittington Emerging Markets.
The Paris C
Green light for the TSU
The Swift board has approved the development of a commercial product the Trade Services Utility (TSU) as a financial supply chain solution, Jackie Keogh , Head of
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The endless arguments about why Africa is not trading within Africa are wearing thin. It is time for a coherent action plan to be drawn up, says GTR editor, Rebecca Spong.
