Europe News

Trafigura tops up European revolvers in oversubscribed refinancing

Trafigura has refinanced its European multi-currency syndicated revolving credit facilities (RCFs) for a total of US$5.4bn, in a pair of deals that the commodity …

Europe / 16-03-23 / by Eleanor Wragg

Ukraine grain deal faces fresh uncertainty as Russia struggles with agri exports

The potential renewal of the Black Sea Grain Initiative is again facing doubt and confusion, with Russia seeking a shorter-term arrangement unless payment issues …

Europe / 15-03-23 / by John Basquill

Regulator blasts Credit Suisse over investment in Greensill future receivables

Credit Suisse failed to recognise the growing risks associated with Greensill’s financing of future receivables, according to a damning review by Switzerland’s financial regulator. …

Europe / 28-02-23 / by John Basquill

Miga backs Ukrainian trade finance with guarantee to EBRD

The Multilateral Investment Guarantee Agency (Miga) has agreed a “landmark” co-financing deal with the European Bank for Reconstruction and Development (EBRD), enabling it to …

Europe / 22-02-23 / by Jenny Messenger

Trafigura secures US$500mn ECA-backed deal to supply metals to Italy

Global commodity trader Trafigura has entered into a US$500mn five-year loan backed by Italy’s export credit agency (ECA) Sace, to deliver commodities to the …

Europe / 22-02-23 / by Eleanor Wragg

UK banks to take action on trade finance fraud in new ICC-led project

The UK’s trade finance banks are joining forces with the International Chamber of Commerce United Kingdom (ICC UK) in a new initiative to stamp …

Europe / 08-02-23 / by Eleanor Wragg

Two Balli Steel executives convicted following US$150mn trade finance fraud

A London jury has found two Balli Steel executives guilty on multiple counts of fraud, after they used fake documents to deceive banks into …

Europe / 03-02-23 / by John Basquill

HSBC signs deal with European Investment Bank to finance Greek SME trade

HSBC and the European Investment Bank (EIB) have agreed a €200mn facility to finance trade for mid-caps and SMEs in Greece. The agreement is …

Europe / 30-01-23 / by Eleanor Wragg

Banks eye victory over EU’s Basel reforms on trade finance

The EU looks set to abandon plans to more than double capital requirements for some trade finance instruments, delighting banks and corporates who have …

Europe / 25-01-23 / by Jacob Atkins

Finnish law change signals new export credit opportunities for SMEs

Finland’s export credit agency (ECA), Finnvera, can now offer credit directly to foreign customers of Finnish export companies after the country’s parliament approved a …

Europe / 18-01-23 / by Jenny Messenger