GTR Trade Finance eNews - September 2008
Pillsbury acquires Thelen's China practice
Law firm Pillsbury Winthrop Shaw Pittman has acquired Thelen's China practice.
HSBC arranges Sri Lankan first for Sinosure
HSBC has closed a US$45mn loan for Sri Lankan mobile phone operator Mobitel.
Vnesheconombank and Kexim agree on future cooperation
Russia’s Bank for Development and Foreign Economic Affairs (Vnesheconombank) and the Export-Import Bank of Korea have signed a framework agreement on cooperation.
Deutsche boosts Spanish STEF team
Deutsche Bank's global transaction banking (GTS) has appointed Jose Luis Pastor to join its structured trade and export finance (STEF) team in
EBRD turns attention to Turkey
The European Board for Reconstruction and Development (EBRD) has decided that
China’s CMBC selects Surecomp trade finance solution
China Minsheng Banking Corporation (CMBC) has selected Surecomp’s end-to-end trade finance solution to automate their trade service operations.
Top Merrill Japan executive to head up Miga
The Multilateral Investment Guarantee Agency (Miga) has appointed Izumi Kobayashi as its new executive vice-president.
ITFC releases mid-year trade finance report
International Islamic Trade Finance Corporation (ITFC) has announced its half year results, revealing it has carried out trade finance operation activities totalling US$1.6bn.
DLA Piper appoints new partner in Dubai
DLA Piper has hired Tony Holland to join its finance and projects practice in Dubai as its regional head of finance.
ABB secures Eskom contract
ABB, a Swiss-based provider of power and automation technology, has won a US$75mn contract with
US Ex-Im closes aircraft exports deal in India
US Ex-Im has closed a US$548.6mn financing for the purchase of Boeing aircraft by
Turkey's Isbank signs dual tranche syndicated loan
Turkiye Is Bankasi (Isbank) has closed a dual tranche syndicated loan facility, with the signing taking place in London earlier this week.
Sovereign hires senior underwriter
Sovereign Risk Insurance has appointed Sophie Demeyer as a vice-president and senior underwriting officer.
DWS's Cook moves to Dubai
Denton Wilde Sapte's banking and finance partner Simon Cook is relocating to Dubai.
BES hires structured trade finance credit analyst
Banco Espirito Santo (BES) has appointed Christopher Brown as credit analyst in the structured trade finance department, based in London.
Approval won for Sovereign's Dubai office
Sovereign Risk Insurance is to set up a new Dubai office, having won approval in principle from Dubai Financial Services Authority (DFSA).
Estonian Credit Bank closes loan extension
Estonian Credit Bank has secured a €32mn term loan via BayernLB.
HSBC PEF adds to oil and gas team
HSBC project and export finance (PEF) has hired William Stevens as a director in its oil and gas team.
Yapi Kredi signs multi-currency deal
Turkey’s Yapi Kredi has signed a one-year US$1bn dual tranche multi-currency term loan facility.
SG appoints new head of natural resources and energy financing
SG CIB has appointed Federico Turegano as the new global head of the natural resources and energy financing business line.
SMBC reveals new head of Latin America
SMBC has appointed Isaac Deutsch as deputy general manager and head of Latin America structured and corporate finance. He will be based in New York.
SIBOS UPDATES: Swift signs deal with insurers
Swift has signed an agreement with major insurance industry players that will aim to facilitate administrative processes between insurers, brokers and reinsurers.
JPMorgan treasury services unveils expansion plans
JPMorgan’s treasury service business has unveiled plans to expand and enhance its global service capabilities.
Coface Holding issues 1H results
Coface Holding’s turnover grew by 5.9% in the first half of 2008, while the decline in net profit was limited to 10%.
Swift launches low-cost connectivity solution
Swift has launched Allliance Lite, an internet-based solution aiming to allow new low volume customers including corporates and small financial institutions to connect to Swift easily, securely and at a low cost.
Fortis set to adopt Bolero platform
Fortis is to fully integrate Bolero’s multi-banking trade platform into its back office systems.
HVB upgrades Bolero multi-banking channel
Bolero has signed a new multi-access agreement with HypoVereinsbank (HVB), part of the Unicredit Group.
Eskom signs export credit deal with KfW-IPEX and HSBC
South Africa’s state-owned power company Eskom has signed a €250mn (approximately R2.8bn) export credit financing loan agreement with KfW-IPEX and HSBC Bank.SIBOS UPDATES: Misys launches new Java EE version
Misys has launched its latest Java EE version of its trade finance solution called TI Plus 2.0.Vnesheconombank sets up Kazakh credit line
Russia’s Bank for Development and Foreign Economic Affairs (Vnesheconombank) has set up a US$300mn credit line with the Kazakhstan Development Bank.Coface expands UK sales team
Provider of insurance and credit solutions Coface has increased its UK presence with new appointments to its London and south east team.SIBOS UPDATES: Turkey’s Isbank signs up for China Systems solution
Turkish Bank Isbank has signed a purchasing agreement with China Systems to implement its J2EE trade finance solution Eximbills Enterprise and customer front end portal solution customer enterprise.SIBOS UPDATES: CIECC selects China Systems solution
China International Electronic Commerce Centre (CIECC) is set to implement China Systems' J2EE Enterprise Solutions into its new trade portal project.Baft appoints new managing director
The Bankers' Association for Finance and Trade (Baft) has appointed Donna Alexander to be its new managing director.
EVMB launches syndication
Russian bank Evrofinance Mosnarbank (EVMB) has mandated Banque Société Générale, Commerzbank, Credit Suisse, ICICI Bank (Bahrain Branch) and ICICI Bank UK to arrange a US$40mn syndicated term loan facility.SIBOS UPDATES: China Citic Bank pilots Deutsche’s FX4Cash
China Citic has selected and launched Deutsche Bank’s cross-currency payments solution Fx4Cash.Ursa Bank issues mandates
Russia’s Ursa Bank has mandated Banif-Banco Internacional do Funchal, Commerzbank, Credit Suisse, Intesa Sanpaolo, Standard Bank, Bank Austria Creditanstalt and Bayerische Hypo-und Vereinsbank (Unicredit Group) to arrange a US$100mn syndicated trade-related term loan facility.Kazakh's BTA repays on second tranche
Kazakhstan's BTA Bank has repaid part of its second tranche of a US$1.111mn syndicated loan originally signed in September 2006.Senior loan facility closes for Mexico’s Grupo R
Mandated lead arrangers WestLB and BBVA Bancomer have closed a US$584mn senior secured term loan facility for Mexican oil and gas conglomerate Grupo R.Azerbaijan’s AzDB signs debut trade syndication
Azerdemiryolbank (AzDB) in Azerbaijan has signed its debut US$16mn syndicated trade-related loan facility.Pravex Bank signs short-term trade loan
Initial mandated lead arrangers and bookrunners BayernLB, Intesa Sanpaolo and Standard Bank have signed a US$42mn syndicated short-term loan facility for Pravex Bank in Ukraine.US Ex-Im guarantees oil exports to Reliance
US Ex-Im is granting a US$400mn long-term loan guarantee to support US exports of equipment and services to Reliance Industries (RIL) in India.VTB issues mandates for syndication
VTB Bank (Austria) has mandated Deutsche Bank, Erste Group Bank, and Natixis as the initial mandated lead arrangers and bookrunners to arrange a US$300mn syndicated term loan facility.Vnesheconombank looks to support aircraft exports to Cuba
Russia’s Bank for Development and Foreign Economic Affairs (Vnesheconombank) has signed an agreement of intent on opening credit lines that would support Russian companies’ exports to Aviaimport, a subsidiary of the Cuban state-owned air company CACSA.ZKB signs up for China Systems solution
Zurcher Kantonalbank (ZKB) has purchased China Systems’ J2EE trade finance solution Eximbills Enterprise.EBRD takes on Mongolian risk
The European Bank for Reconstruction and Development (EBRD) has extended its risk cover to Mongolia, under its trade facilitation programme.Belagroprombank signs loan oversubscribed
Mandated lead arrangers Banco Finantia, Credit Suisse and Intesa Sanpaolo have signed a US$55mn trade finance term loan for Belagroprombank.New recruit joins Falcon Trade
Falcon Trade Corporation has appointed Garry Gurry as a product development specialist to the London office. Reporting directly to CEO Will Nagle...Bank Zenit deal launches
Mandated lead arrangers Bayerische Landesbank, Commerzbank, Erste Group Bank, Intesa Sanpaolo, RZB and WestLB are launching a US$140mn syndicated trade related finance facility.New IFA board members elected
David Lilley, head of forfaiting, global trade finance at SMBCE, and Charles Brough, head of forfaiting and trade finance Asia Pacific, at HVB Singapore, have been elected to the board of the International Forfaiting Association (IFA).Kazakh's Samruk Energy taps market for coal acquisition
Kazakhstan’s Samruk Energy has mandated Barclays Capital, Calyon, and HSBC Bank to arrange a US$400mn syndicated term loan facility with a one-year maturity.Probusinessbank mandates for syndication
Russia’s Probusinessbank has mandated Commerzbank, Dresdner Kleinwort, and VTB Bank to arrange a US$25mn syndicated trade-related term loan facility.Syndication launches on Bank Center-Invest deal
Syndication has been launched on a US$60mn syndicated trade-related term loan facility for Bank Center-Invest.Sberbank issues mandates
Russia's Sberbank issues mandates on US$1.2bn senior term loan facility.
