GTR Trade Finance eNews - July 2008
July 31, 2008
Cocobod set to see renewed appeal
The US$900mn annual receivables-backed pre-export facility for the Ghana Cocoa Board (Cocobod) is said to be progressing well in the market.July 31, 2008
Rio Tinto to invest in Brazilian iron ore mine expansion
Rio Tinto will invest US$2.15bn in a major expansion of its iron ore mine in Corumbá in Brazil.July 31, 2008
Belinvestbank signs trade loan
Mandated lead arrangers BayernLB and Credit Suisse have signed a new trade finance term loan facility for the Belarusian Bank for Development and Reconstruction (Belinvestbank).July 28, 2008
New bank joins US Ex-Im’s infrastructure facility
US Ex-Im has accepted ICICI Bank to join its Indian infrastructure facility.July 28, 2008
Bank Audi closes mult-currency cement bridge loan
Mandated lead arranger Bank Audi sal - Audi Saradar Group, has closed a US$380mn syndicated multi-currency bridge facility for the Syrian Cement Company, a subsidiary Lafarge.July 28, 2008
Unprecedented growth recorded for Oman’s non-oil exports
Oil-rich Oman has recorded an unprecedented increase of 59% in its non-oil related exports in 2007.July 28, 2008
Gulf Finance House to build cement plants
Gulf Finance House (GFH) has announced plans to create a US$2bn cement production company.July 28, 2008
Saudi Arabia to pressure India on rice exports
The government of the kingdom of Saudi Arabia is putting pressure on India to lift the ban on all non-basmati rice shipments.July 28, 2008
Metalloinvest secures new pre-export financing
Russian iron ore and steel company Metalloinvest Holding has secured a pre-export US$1.3bn syndicated loan.July 25, 2008
Emirates NBD and Noor Islamic Bank closes oil deal
Initial mandated lead arrangers Emirates NBD and Noor Islamic Bank have closed a US$500mn syndicated Islamic facility for Enoc Supply and Trading (ESTC), a wholly-owned company of the Emirates National Oil Company.July 25, 2008
Sonatrach signs deals in Oman and Egypt
The Algerian state-owned oil company Sonatrach has reached separate agreements with Suhail Bahwan Group holding of Oman and Orascom Construction Industries of Egypt.July 25, 2008
Lukoil and PDVSA sign exploration deal
Russian oil company Lukoil signs an agreement with PDVSA, the Venezuelan petroleum company.July 25, 2008
New president for Korea Eximbank
Dong Soo Chin has been appointed as the new chairman and president of the Korea’s Export-Import Bank.July 25, 2008
World Bank closes first African local currency deal
The World Bank has granted a R58.2mn (US$7.7mn) loan to the Namibian government.July 25, 2008
Ukraine’s Raiffeisen Bank Aval signs deal
Mandated lead arrangers and bookrunners Citibank and Standard Bank have closes a US$28mn term loan facility for Bank Standard in Azerbaijan.July 25, 2008
Azerbaijan’s Bank Standard signs deal
Mandated lead arrangers and bookrunners Citibank and Standard Bank have closes a US$28mn term loan facility for Bank Standard in Azerbaijan.July 25, 2008
Promsvyazbank releases factoring results
Russia’s Promsvyazbank has published its first half results of its factoring business.July 24, 2008
Evraz to develop Mezhegey coal deposit
Russian mining company and steel producer Evraz has won the tender to develop the Mezhegey coal desposit in the republic of Tyva.July 24, 2008
Turkish tyre company secures IFC support
Petlas Lastik Sanayi ve Ticaret, a tyre manufacturer in Kisehir in Turkey has secured a US$30mn long-term loan from the IFC.July 23, 2008
Finacity closes trade receivables securitisation for Mexican firm
Finacity Corporation has closed and funded an enhanced trade receivables securitization for Papel, Cartón y Derivados (PCD), a private paperboard and containerboard manufacturer based in Mexico.July 23, 2008
Transcapitalbank raises trade-related facility
Russia’s Transcapitalbank has signed a US$70mn facility agreement via initial mandated lead arrangers Banco Finantia, Commerzbank, and VTB Bank.July 23, 2008
BTA Bank repays on Islamic loan
BTA Bank has paid off US$63mn portion of a dual-tranche Islamic loan raised in 2006.July 23, 2008
AIG Global increases capacity on political risk
AIG Global has increased its capacity to support political risk insurance (PRI) policies, with limits up to US$120mn per risk, from US$100mn per risk.July 22, 2008
NLMK’s pre-export facility closes
The Russian steel producer Novolipetsk Steel (NLMK) has secured a US$1.6mn pre-export facility. The initial mandated lead arrangers and co-ordinating banks are BNP Paribas and Société Générale.July 22, 2008
Gazprom neft signs syndicated deal
Russian oil company Gazprom neft has signed a US$1bn syndicated loan facility.July 22, 2008
South Africa’s Eskom wins untied Japanese loan
The South African state-owned power utility Eskom has secured an untied loan of up to ¥7.5bn from a number of Japanese banks.July 21, 2008
Turkey’s Enka wins Japanese funds
Enka Pazarlama, an arm of the construction company Enka, has secured buyer’s credit agreements totalling up to ¥10bn from the Japan Bank for International Cooperation (JBIC) and the Tokyo branch of ABN Amro.July 21, 2008
Brazil’s Telemar raises dual tranche loan
Brazilian telecom operator Telemar Norte Leste, known as Oi, has raised a US$250mn A/B loan via the Nordic Investment Bank (NIB).July 21, 2008
Norilsk finalises syndication
Russian metals producer Norilsk Nickel has closed its US$1.5bn syndicated facility.July 21, 2008
Nordic loan for Ukraine’s Alchevsk steelworks
The Nordic Investment Bank (NIB) has extended a US$40mn loan to the Industrial Union of Donbass (ISD).July 21, 2008
Sace-backed deal signed for Vietcombank
July 21, 2008
Finland’s Metsa group adopts new LC handling system
Metsaliitto Group, one of the largest forest industry groups in the world, has implemented a centralised and automated letters of credit handling system.July 21, 2008
HSBC adds to supply chain sales team in Hong Kong
HSBC has appointed Debbie Mak and Yen Poon as senior regional sales managers, trade and supply chain, Asia-Pacific.July 21, 2008
MDM Bank wins IFC dual tranche loan
MDM Bank in Russia has signed a US$500mn syndicated loan, which forms the B tranche of an A/B loan provided by the multilateral IFC.July 21, 2008
DP World signs JV to operate Yemen port
Dubai Port World (DP World) has signed a joint venture with the Yemen Gulf of Aden Port Corporation to operate and develop the container terminal facilities at the Port of Aden in Yemen.July 11, 2008
Belagroprombank issues mandates
Belagroprombank has mandated Banco Finantia, Credit Suisse and Intesa Sanpaolo to jointly arrange a US$25mn trade-related syndicated term loan facility.July 11, 2008
HSH Nordbank adds to commodity team
HSH Nordbank in London has hired Olu Ajayi to join its commodity finance team covering Europe, Middle East and Africa (EMEA).July 11, 2008
New recruit to HSH Nordbank’s syndications team
Alexander Buehl joins HSH Nordbank’s syndications team in London as syndications manager.July 10, 2008
Rosbank closes oversubscribed syndication
Rosbank in Russia has closed a US$270mn syndicated term loan facility.July 09, 2008
EBRD loans to Mongolian soft drinks firm
The European Bank of Reconstruction and Development (EBRD) has extended its first syndicated loan in Mongolia, with a US$13mn credit to MCS Coca-Cola, a privately-owned Mongolian soft drinks producer.July 09, 2008
Alfa Bank signs syndicated term loan
Initial mandated lead arrangers Commerzbank, Fortis Bank, GarantiBank International, Landesbank Baden-Wurttemberg, SMBC Europe and Wachovia Bank have closed a US$315mn facility for Alfa Bank in Russia.July 09, 2008
New appointments at TFC
Trade Finance Corporation (TFC) has appointed Anthony Gilks as managing director.July 08, 2008
Axiom Telecom closes debut syndicated import deal
Mandated lead arrangers Emirates NBD, JPMorgan and Dubai Islamic Bank have closed a US$400mn syndicated import/purchase finance facility for Axiom Telecom in the United Arab Emirates (UAE).July 08, 2008
UralSib signs oversubscribed trade loan
Bank UralSib has signed a US$313mn syndicated term loan facility jointly arranged by BayernLB, Credit Suisse, Emirates NBD, ING Bank, and National Bank of Oman.July 08, 2008
EFIC announces key appointment
Export Finance and Insurance Corporation (EFIC), Australia’s export credit agency, has appointed Brendan Berne as executive director of government and industry relations.July 08, 2008
Deutsche launches FX4Cash payment system
Deutsche Bank has launched FX4Cash, a new FX payments product aimed to meet with clients’ FX and cash management needs.July 08, 2008
Ukraine’s Bank Finance and Credit launches syndication
Mandated lead arrangers and bookrunners Banco Finantia, BayernLB and Standard Bank have launched a US$30mn syndicated trade-related facility for Bank of Finance and Credit in Ukraine.July 08, 2008
Ukraine’s Bank Finance and Credit launches syndication
Mandated lead arrangers and bookrunners Banco Finantia, BayernLB and Standard Bank have launched a US$30mn syndicated trade-related facility for Bank of Finance and Credit in Ukraine.July 02, 2008
Thailand opens up domestic bond market to foreign trade banks
Thailand’s ministry of finance has announced that a total of 15 foreign entitiesJuly 02, 2008
GMAC Commercial Finance to sell Polish factoring firm
GMAC Commercial Finance (GMAC CF) has agreed to sell all of its shares in its factoring operations in Poland to the northern European financial group SEB.July 02, 2008
ZAO Profit closes landmark club deal
Mandated lead arrangers CommerzbankJuly 01, 2008
Deutsche appoints GTB head in Ukraine
Deutsche Bank has appointed Konstantin Seryogin as the director and head of Deutsche’s representative office and local head of global transaction banking (GTB) in the Ukraine.July 01, 2008
NBAD Private Bank goes live with Credoc
NBAD Private Bank in Switzerland has gone live with Credoc software to support its developing trade finance operations.July 01, 2008
NBAD Private Bank goes live with Credoc
NBAD Private Bank in Switzerland has gone live with Credoc software to support its developing trade finance operations.July 01, 2008
Syndication launches on Ukraine’s Pravex bank loan
Mandated lead arrangers and bookrunners BayernLB, Intesa Sanpaolo, and Standard Bank have launched general syndication on a US$15mn syndicated short-term loan facility for Pravex Bank in Ukraine.July 01, 2008
New head of WestLB’s T&E origination team
Erik Hoffman has taken over responsibility for WestLB’s origination team in trade and export finance, based in Dusseldorf.July 01, 2008
Nedbank Capital appoints new structured trade and commodity head
Nedbank Capital has appointed Sekete Mokgehle as the head of its global structured trade and commodity finance. In his new role, he will take responsibility for both the Johannesburg and London-based teams.July 01, 2008
Bank of New York Mellon awarded DIFC licence
The Bank of New York Mellon opened a new office in the Dubai International Financial Centre (DIFC), having been granted a licence by the Dubai Financial Services Authority.July 01, 2008
Akbank,WestLB and IFC support Turkey power deal
Co-ordinating banks Akbank and WestLB have jointly arranged with the IFC a &euro865mn debt package for Turkish joint venture power companyJuly 01, 2008
