GTR Trade Finance eNews - January 2008
January 25, 2008
SG wins role on RBL deal for Severneftgazprom
Soci&eaute;té Générale has won the role as financial advisor on a €2bn reserve-baseJanuary 25, 2008
DF Deutsche Forfait expands UK operations
DF Deutsche Forfait (DFAG) has taken over the activities of Aon Forfaiting and has opened a London branch.January 25, 2008
Euler Hermes boosts management
Credit insurer Euler Hermes has made a series of management appointments.January 25, 2008
BankMuscat to open in Pakistan
Oman's BankMuscat is acquiring a majority stake in Saudi Pak Commercial Bank (Sapico) in Pakistan.January 25, 2008
Deutsche arranges ECA-Backed Russian rail deal
Sole mandated lead arranger Deutsche Bank has arranged a dual-tranche €292.1mn financing package in support of Russian Railways. The facility is to refinance the designing, construction and delivery of eight high-speed railway trains to be supplied by Siemens.January 25, 2008
EBRD-backed Severstal deal issues mandates
Calyon, ING and RZB have been mandated as initial mandated lead arrangers to arrange a €350mn B tranche of a loan package Russian steel producer Severstal.January 25, 2008
ABN Amro and ING sign PXF deal for Ivolga
ABN Amro and ING have signed a dual-tranche US$300mn financing package for Ivolga Group.January 25, 2008
Coface conference report: UK trade credit premiums to rise
UK trade credit premiums are likely to be increased by at least 9-10% in light of the global economic slowdown and the potential recession on the horizon.January 25, 2008
Coface conference report: New rating system to launch
Announced during its annual country risk conference in Paris, Coface has launched its new rating system designed to provide additional analysis of a country's business climate.January 25, 2008
China Exim supports Mauritanian rail
The Export-Import Bank of China (China Exim) is to provide funds to support the construction of a 430km railway line in Mauritania.January 25, 2008
Rio Tinto signs JV with Codelco
Mining and exploration company Rio Tinto has signed a joint venture agreement with Codelco, the world's largest copper producer.January 25, 2008
Norway's Statoil signs deal with PDVSA
Statoil in Norway has signed two agreements with Venezuela's state-owned oil company PDVSA.January 25, 2008
Bank of Khanty-Mansiysk signs syndication
Joint bookrunners and mandated lead arrangers Erst Bank, Landesbank Berlin and Bank Austria Creditanstalt signed a US$62.5mn syndicated loan facility for the Russian institution Bank of Khanty-Mansiysk (BKM).January 25, 2008
BayernLB and Natixis to arrange Shinhan capital deal
BayernLB and Natixis have been mandated by Shinhan Capital to arrange a US$100mn syndicated transferable term loan facility.January 25, 2008
Lloyds TSB launches Shariah compliant transfers
Lloyds TSB has launched an account that allows banks to move money around the world in a way that complies with sharia'h law.January 25, 2008
Evraz completes Claymont Steel acquisition
Evraz Group in Russia has completed its acquisition of Claymont Steel.January 25, 2008
Noble secures investment grade rating
Noble Group is now rated as investment gradeJanuary 25, 2008
KME Group signs credit line mandate
KME Group has mandated Mediocredito Centrale (part of the Unicredit Group) to finalise a long-term credit facility.January 19, 2008
Mechel closes debut pre-export syndication
Mechel, a Russian mining and metals company, has closed syndication on a dual-tranche US$2bn loan.January 18, 2008
Deutsche signs nickel pre-export
Deutsche Bank has signed a US$40mn pre-export financing facility with Philippine mineral processing company, Platinum Group Metals Corporation (PGMC).January 18, 2008
WestLB closes Delba drillship deal
Lead arranger, underwriter and sole bookrunner WestLB has closed its US$488mn senior secured credit facility for Delba Group.January 18, 2008
Abbey set to roll out trade finance division
Abbey, part of the Santander Group, is launching its own trade finance division.January 18, 2008
Cohen joins syndications team at StanChart
Joshua Cohen has joined Standard Chartered Bank as director, syndications.January 18, 2008
Dubai Islamic Bank opens new branches
Dubai Islamic Bank has opened four new branches.January 18, 2008
White & Case makes key global hires
Law firm White & Case has appointed 31 new partners to its global practices.January 18, 2008
Emal project financing readying for launch
Emirates Aluminium Company (Emal) is getting ready to launch syndication on its US$4.9bn limited-recourse financing for an aluminium smelter project in Al Taweelah in Abu Dhabi.January 18, 2008
Argentine infrastructure projects to blossom in 2008
Brazilian construction company Andrade Gutierrez is upbeat on energy and transportation projects in Argentina, although legal safety is a major concern, claims Luiz Jordo, director of structured finance at Brazilian contractor Andrade Gutierrez.January 18, 2008
Fujairah F2 IWPP project closes
The US$2.23bn Fujairah F2 independent water and power project (IWPP) has reached financial close.January 18, 2008
EBRD and IFC signs Galnaftogaz loan
The European Bank of Reconstruction and Development (EBRD) and IFC has signed a US$200mn loan for the Ukrainian firm Galnaftogaz.January 18, 2008
Bank of Georgia closes senior loan
Bank of Georgia closes senior loanJanuary 18, 2008
Belagroprombank launches third syndicated loan
Mandated lead arrangers Banco Finantia, Commerzbank, and UniCredit Group have launched a US$20mn debt facility.January 18, 2008
Egypt's Ahli United Bank joins IFC scheme
Ahli United Bank has become the first bank in Egypt to join the IFC's global trade finance programme as an issuing bank.January 18, 2008
Katanga Mining and Nikanor complete merger
Shareholders in Katanga Mining have approved the merger with Nikanor to create what could become the largest cobalt and copper producer in the world.January 18, 2008
US Exim adopts new KYC rules
Export-Import Bank of the United States (US Exim) has adopted new guidelines to improve the bank's transparency and effectiveness of its due diligence policies.January 18, 2008
Gulf Finance House in energy talks with Libya
Prime minister of Libya Ali Al-Mahmudi al-Baghdadi and the chairman of Gulf Finance House, Esam Janahi have been holding meetings to discuss establishing a energy business centre to support the oil and gas industry.January 18, 2008
Oando signs Afrexim-supported syndication
Oando, Nigeria's largest energy group, has signed a US$100mn syndicated credit facility arranged via African Export & Import Bank (Afrexim) and Standard Chartered.January 18, 2008
Uganda's Bujagali power project financing moves ahead
The European Investment Bank (EIB) has lent US$136mn to the Bujagali power project in Uganda.January 18, 2008
FDI inflows hit new record
Growth in foreign direct investment (FDI) inflows has broken new records, having hit an estimated US$1.5trn, according to the United Nations Conference on Trade and Development (UNCTAD).January 18, 2008
IFC's trade finance activities double
The IFC's global trade finance programme has doubled the volume of guarantees issued and the number of participating banks and countries covered during 2007.January 18, 2008
Raiffeisen Hungary signs syndication
Hungary's Raiffeisen has signed a three-year €190mn three-year syndicated term loan facility via bookrunners Commerzbank, DZ Bank, and Intesa Sanpaolo.January 18, 2008
DEG finances Indian desalination plant
Development Bank DEG is providing a €14mn long-term loan to support the construction of a seawater desalination plant in Chennai, the fourth largest city inJanuary 11, 2008
KazMunayGas bridge facility closes
Mandated lead arrangers ABN Amro, Calyon and Credit Suisse have closed a US$3.1bn syndicated bridge facility for KazMunayGas PKOP, a wholly-owned subsidiary of Trade House KazMunayGas.January 11, 2008
First mixed-asset project finance cash CLO closes
Banco Esprito Santo and ABN Amro have jointly arranged a €1.1bn mixed-asset project finance cash collateralised loan obligation (CLO), known as Lusitano Project Finance 1.January 11, 2008
Full review of Global Risks 2008 report: WEF predicts financial uncertainty
The World Economic Forum (WEF) predicts that the next 12 months will see heightened levels of political and economic uncertainty not seen for the last 10 years.January 11, 2008
Orezone Resources mandates for gold project
Gold company Orezone Resources has selected HypoVereinsbank (HVB), part of the Unicredit Group, and Standard Bank as mandated lead arrangers to arrange and underwrite a US$250mn of project debt.January 11, 2008
Credit crunch to hit UK exports
UK exports are weakening and will continue to be affected by the credit crunch, according to new research.January 11, 2008
Coface to work with ICIEC
Coface has signed a cooperation agreement with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).January 11, 2008
HSBC selects new head of global markets
HSBC has appointed Samir Assaf as head of global markets.January 11, 2008
GE Commercial Finance makes new appointment
GE Commercial Finance has appointed Inwha Huh as a senior originator in the working capital solutions team.January 11, 2008
Mayer Brown and Johnson Stokes & Master join forces
Law firms Mayer Brown and Johnson Stokes & Master (JSM) have agreed to combine operations as of January 28, 2008.January 11, 2008
Chadbourne & Parke appoints five new counsel
Law firm Chadbourne & Parke has hired five new counsel to its New York and Moscow offices.January 11, 2008
AIG launches new trade credit risk management system
AIG UK has set up a new credit limit management platform which aims to support trade credit professionals to more accurately assess customer credit risk.January 11, 2008
Norton Rose hires new energy finance partner
Law firm Norton Rose has appointed Stephen Begley as an energy and asset finance partner in its Hong Kong office.January 11, 2008
Nigeria's Diamond listed on LSE
Nigeria's Diamond Bank has become the first Nigerian bank to be listed on the Professional Securities Market (PSM) of the London Stock Exchange (LSE).January 11, 2008
Sberbank closes syndication at record low Libor
Russian bank Sberbank has closed a US$750mn syndicated loan deal.January 11, 2008
IIB loan signed oversubscribed
The International Industrial Bank (IIB) has closed a US$105mn syndicated facility.January 11, 2008
ADB provides new loans for India infrastructure
The Asian Development Bank (ADB) is to provide a total of US$500mn in loans to India to support public-private partnerships in the infrastructure sector.January 11, 2008
Canada and Mongolia step closer to trade deal
Trade links between Canada and Mongolia could be strengthened as the two countries move closer to signing a foreign investment promotion and protection agreement (FIPA).January 11, 2008
Lukoil and Gazprom Neft sign JV
Lukoil and Gazprom Neft have established a joint venture known as Oil and Gas Company 'Regional Development'.January 11, 2008
VEB and VTB close credit line for Cuban aircraft
Vnesheconombank, its subsidiary Roseximbank, and VTB Bank have extended all their credit lines to Cuban company Aviaimport.January 04, 2008
Uganda's Bujagali power project financing closes
A US$867mn project financing for the 250MW Bujagali hydroelectric power plant project in Uganda has reached financial close.January 04, 2008
WestLB closes geothermal plant financing in Turkey
WestLB has closed documentation for a US$88.5mn limited recourse financing for the first private and largest geothermal power plant in Turkey.January 04, 2008
Miga signs first guarantee for Shariah-compliant project financing
The Multilateral Investment Guaranteee Agency (Miga) has provided its first-ever guarantee for a Shariah-compliant project financing.January 04, 2008
JBIC guarantees deal for India's NTPC
The Japan Bank for International Cooperation (JBIC) is providing a guarantee for a US$380mn syndicated loan for NTPC, India’s largest power producer.January 04, 2008
VTB arranges loan for Red October steel works
Mandated arranger and bookrunner VTB Bank Europe has signed a US$80mn medium-term structured finance facility for Red October steel works in Volgograd in Russia.January 04, 2008
Promsvyazbank signs loan with Nordic Investment Bank
Promsvyazbank has signed a €30mn credit agreement with Nordic Investment Bank.January 04, 2008
Westpac opens in Shanghai
With the aim of supporting greater Australian-Chinese trade, Westpac has opened a new branch in Shanghai, after securing approval from the Chinese banking regulators.January 04, 2008
New IFA board appointments announced
David Lilley, head of forfaiting, global trade finance at SMBC has been elected to the position of chairman of the board of the Northern European regional committee of the International Forfaiting Association (IFA).January 04, 2008
EBRD extends trade credit to Araratbank
The European Bank for Reconstruction and Development (EBRD) is extending US$5mn credit line and a US$1mn limit under its trade facilitation programme to Araratbank, a privately-owned Armenian bank.January 04, 2008
Madagascar to improve trade transaction efficiency
Madagascar is to reform its customs clearance process with the help of investment from the Multilateral Investment Guarantee Agency (Miga).January 04, 2008
Ukreximbank wins club loan
The State Export-Import Bank of Ukraine (Ukreximbank) has signed a US$90mn club loan facility.
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