GTR Trade Finance eNews - Deals July 2009
Vodacom Tanzania secures syndicated loan
Vodacom Tanzania has secured a US$90mn syndicated loan from a group of local banks led by Citibank Tanzania.
Syndicated loan market shows signs of revival
The success of refinancings globally is mounting, indicative of the fact that conditions in the credit market are steadily improving.
EDC provides financing for Air Canada
EDC will provide C$150mn towards a C$600mn credit facility for Air Canada involving four other lenders, including the government of Canada.
ABB wins Brazilian power transmission project
ABB has won orders worth over US$540mn to deliver the key technology for the world’s longest power transmission link to be constructed in Brazil.
Croatia’s PBZ wins export financing package
Croatia's Privredna banka Zagreb (PBZ), a member of the Intesa Sanpaolo Group, has secured a €100mn financing package from the European Bank for Reconstruction and Development (EBRD) to finance small businesses and Croatian exporters.
StanChart and China’s Sinosure sign insurance first
Standard Chartered and China’s export credit agency (ECA) Sinosure have signed an export trade credit insurance bank policy.
Mechel completes refinancing deal
Russian mining and metals company Mechel has closed a deal refinancing short-term credit facilities totalling US$2.6bn.
First Capital renews senior secured facility
Financial services provider, First Capital, has renewed a US$175mn senior secured facility with DZ Bank.
StanChart closes loan for Southeast Asia’s Ocean Tankers
Sole lender Standard Chartered has closed a US$28mn-equivalent loan facility for Xihe Holdings, the vessel-owning arm of Ocean Tankers.
StanChart completes renminbi trade settlement deal
Standard Chartered has completed its first cross-border trade settlement transaction in renminbi (RMB).
Turkey's Ilisu dam loses ECA backing
The export risk insurance provided by Germany, Austria and Switzerland for Turkey’s planned Ilisu dam on the Tigris is ending.
Mechel refinances short-term credit facilities
Russian mining and metals company Mechel has signed agreements to refinance its short-term credit facilities totalling US$2.6bn.
Gunvor wins oversubscription on refinancing
Oil trader Gunvor International has signed a revolving one-year credit facility of US$600mn.
Turkcell receives financing for Ericsson products
Turkish mobile network operator, Turkcell, has signed a US$285mn loan agreement to purchase Ericsson products.
Noble Group and IFC sign loan agreement
Noble Argentina has signed a US$40mn loan agreement with the IFC to finance the construction of a soybean crushing plant in Argentina.
HSBC secures first in Chinese currency trade finance deal
HSBC has become the first foreign bank to close a cross-border trade finance transaction in renminbi (RMB).
EBRD raises loan for bottling plant
The EBRD has raised €41mn in long-term funding to expand production at a Turkish-owned glass packaging plant in North-West Russia.
Bahrain's Al Dur IWPP closes
The Al Dur US$2.1bn independent water and power production project (IWPP) financing in Bahrain has reached financial close.
Kazakhmys renegotiates loan facility
Kazakh copper producer Kazakhmys has successfully reduced and refinanced a €170mn revolving loan facility for subsidiary MKM.
Funds released for West African power project
Conditions for the first release of funds for the US$146mn ContourGlobal Togo project have been concluded.
Russia's MTS raises loans for network development
Russian mobile operator MTS has secured three separate loans totalling €413mn from three international lenders.
