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China’s CITIC Group and China Development Bank have signed a loan to the Ministry of Economy and Public finance of Argentina for subway vehicles and equipment.
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GIEK has issued a guarantee for a loan to Polarcus Asima in connection with the delivery of the seismic research vessel Polarcus Asim from Dubai Drydocks.
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Islamic banking industry software solutions provider Path Solutions has implemented its iMAL solution for Al Khalij Commercial Bank, Qatar, to enable Shari'a-compliant trade finance services.
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Australia’s export credit agency Export Finance and Insurance Corporation has signed a capital guarantee to support Urban Art Projects’ expanding international operations.
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UK trade finance provider Bibby Financial Services has appointed a new business development manager for trade and international finance for the South East.
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Sberbank and German export credit consortium AKA Bank have signed a revised version of an agreement to finance exports into Russia.
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Swiss export credit agency Serv is to expand its support to exporters in French speaking Switzerland by opening a branch office in Lausanne, Switzerland.
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IFC has signed a loan to Turkey’s Sisecam Group’s subsidiary in Bosnia and Herzegovina, Sisecam Soda Lukavac.
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The European Bank for Reconstruction and Development has signed a loan to KCM, the largest lead and zinc smelter in Bulgaria, to co-finance its modernisation programme.
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HSBC has made two cash management appointments in Korea and Indonesia.
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Noa Factoring has declared bankruptcy prompting German regulator Bafin to close its Frankfurt-based parent Noa Bank.
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Car manufacturer Arctic Cat has signed a long-term inventory floorplan financing with TCF Commercial Finance Canada to fund its Canadian dealers.
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Global trade solutions provider Surecomp has expanded its support and development centres in Beijing, China, and Santiago, Chile.
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BNP Paribas has signed two loans with smelter company Aluminium Bahrain to replace electronic equipment at its smelting complexes.
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EFIC is supporting the involvement of Australian companies in West African gold mining projects.
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Standard Chartered Bank’s global head of structured trade finance is taking up a new role at the bank.
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MIGA has launched its Asia hub to expand its reach beyond the Washington DC headquarters, naming its CFO as regional director.
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UK steel trader Stemcor has returned to the syndications market with a $75 million revolving credit facility targeted at Asian lenders.
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The African Development Bank is considering its first co-financing with international lenders in an A/B structured loan for South Africa’s state-owned transport infrastructure firm Transnet.
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Law firm Watson, Farley and Williams has named its new consultant to the international shipping finance group at its Singapore office.
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New Indonesian financial institution Indonesia Infrastructure Finance has been formally launched to provide long-term rupiah financing to private infrastructure projects in Indonesia.
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The United Kingdom has appointed a trade adviser to the UK Prime Minister to help lead a cross-government effort to develop and improve its trade agenda.
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Credit Agricole Corporate Investment Bank has signed a bilateral buyer credit for South African power giant Eskom’s Medupi power plant.
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Mehmet Saydam, previously with Deutsche Bank, has moved to Goldman Sachs.
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A Texas business owner and a Mexican citizen have both been charged with money laundering and conspiring to defraud the Export-Import Bank of the United States.
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IFC and Inecobank have teamed up to expand access to trade finance in Armenia.
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Citi has launches a strategy to attract more Chinese multinationals to set up in Singapore.
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Indonesia’s state-owned steel manufacturer PT Krakatau Steel needs approximately $570 million to support the revitalisation and modernisation programmes of its steel plant.
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Angolan’s state-owned oil firm Sonangol is seeking a loan of $2 billion-$3 billion with a tenor of seven years or longer.
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Islamic Development Bank subsidiary Trust Service Limited's Trust Certificate Issuance Programme has been increased to finance growth in IsDB's operations.
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LBB has structured the biggest cross-border financing for a group of Russian companies under US Ex-Im cover for the last 10 years.
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Romanian aluminium producer Alro has signed a refinancing package under an EBRD A/B loan structure.
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Commonwealth Bank of Australia has opened its first branch in India.
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Deutsche Bank has signed an ECA-backed deal for UAE-based trading company Al Futtaim Group’s Cairo Festival City project in Egypt.
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Israeli export credit agency Ashr’a’s largest ever deal coverage, a trade finance loan to the Republic of Azerbaijan, is set to drawdown imminently.
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German export credit agency Euler Hermes is covering a Deutsche Bank- arranged deal for South African electricity giant Eskom for the Ingula pumped storage power project, South Africa.
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WestLB has launched syndication of a pre-export financing facility for Brazilian agri-company Vigolo- Bom Jesus.
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The European Bank for Reconstruction and Development is financing two Kyrgyz microfinance institutions for on-lending to smaller institutions and entrepreneurs in the Kyrgyz Republic.
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Citi and OPIC have signed a ten-year term loan to Banco Regional to support long-term finance for small and mid-sized enterprises in Paraguay.
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Trade services solutions provider Surecomp has expanded its support and development centres in China and Chile as part of a drive to grow business in both regions.
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The Export Import Bank of the Unites States has signed a direct loan to Energía Eólica de Honduras to finance the Cerro de Hula wind farm, Honduras.
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The African Development Bank has appointed three women to senior positions.
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ING Commercial Banking has appointed a new global head of trade finance services to be based in Amsterdam.
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French export credit agency Coface is backing two deals for BNP Paribas with French aerial work platform manufacturer Haulotte Group for two companies in Brazil.
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Santander and WestLB launch senior syndication of secured trade loan for Brazil’s Bahia Cellulose.
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Trade credit insurer Atradius has appointed a new head to expand its London special products team.
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The Dubai Multi Commodities Centre Authority and India’s Bank of Baroda have signed an agreement to enhance Indian trade flows in the JLT Free Zone, Dubai.
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Luxembourg export credit agency Ducroire Luxembourg is to provide export-credit insurance to complement insurance policies taken out with private insurance companies.
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Lloyds Banking Group has signed a trade finance facility for Spooner Industries to deliver their export order for the supply of drying equipment for the paper industry to the Philippines.
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Canada’s GlobalTrade Corporation enhances its trade platform service provision as first to gain ‘SWIFTReady for Corporates’ label.
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Bookrunners Credit Agricole, Erste Group Bank, RZB and UniCredit Group have signed a trade loan for Poland’s Bank Ochrony Srodowiska.
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A group of 52 banks have signed a jumbo trade loan for Turkey’s Akbank.
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The Asian Development Bank has signed a grant to expand and modernise Tajikistan’s electricity transmission system.
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The Inter-American Development Bank has signed a syndicated loan to Mibanco – Banco de la Microempresa for on-lending to female micro-entrepreneurs in Peru.
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The Korea Development Bank and the Export-Import Bank of the United States have approved a project financing for the Boleo Project in Mexico.
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The syndicated financing facility for Ukrainian agribusiness company Kernel Holding, led by ING Bank and UniCredit Bank, has signed oversubscribed.
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HSBC has been mandated by Air China to arrange the first Chinese ECA-backed aircraft purchase transaction without guarantees from either Chinese state banks or the government.
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The Export-Import Bank of India has signed a line of credit to the Government of the Democratic Republic of Congo to finance the Kakobola Hydroelectric Power Project.
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Australia’s export credit agency EFIC has signed a direct loan to Orica Limited to assist with Orica’s investment in the construction of an ammonium nitrate plant in Indonesia.
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The Brazilian Development Bank has announced its profit in the first semester of 2010, an increase of 408.6% compared to the same period last year.
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Italy’s export credit agency Sace has announced it has a $1 billion pipeline of new transactions in Brazil.
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The Dubai Export Development Corporation has launched its new export assistance programme to provide financial assistance to UAE small and medium enterprise exporters.
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US Ex-Im is backing a loan by Banco Santander to Peruvian meat and poultry producer San Fernando for feed stock for poultry production.
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Canadian export credit agency Export Development Canada will invest in the Africa Telecommunications, Media and Technology Fund I to encourage Canadian supply.
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The International Islamic Trade Finance Corporation has announced its trade finance operations during the first half of 2010.
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The Japan Bank for International Cooperation has signed a buyer credit for Egyptian Refining Company to construct processing units to refine atmospheric residue from a Cairo refinery.
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The Export-Import Bank of the United States has signed an agreement with Ethiopian Airlines to purchase aircraft from Boeing.
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Oil producer BP has launched two syndications secured against crude oil sales in Angola and Azerbaijan.
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BBVA and Banco Santander have signed a deal for Volkswagen de Mexico to purchase automobile products from a pool of German exporters.
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Gatehouse Bank, a Shariah compliant wholesale investment bank, has appointed Irfan Afzal as head of structured trade finance and syndication to its team in London.
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Supply chain management solutions provider TradeCard has appointed Bob Copeland to senior vice president of product strategy and business development.
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Standard Chartered Bank has launched a new online cash management service for corporates in United Arab Emirates.
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Maybank has launched a web-based trade finance service, TradeConnex.
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TEPCO, Toshiba and JBIC have signed a new agreement with Canadian-listed producer and marketer of uranium, Uranium One, securing long-term uranium purchase rights.
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Private Export Funding Corporation has signed a revolving working capital loan for Ford Motor Company to finance vehicles being sold to buyers in Canada and Mexico.
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Sweden’s export credit agency EKN has guaranteed a loan for Econet Wireless Zimbabwe for telecom equipment from Swedish telecom corporation Ericsson.
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Banco Bilbao Vizcaya Argentaria has signed a loan with Mexican forging industry manufacturer Frisa Forjados S.A. de C.V.
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Deutsche Bank makes expands its global transaction banking team in Asia with several appointments.
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HSH Nordbank makes a new position and appoints head of export and trade finance.
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PetroVietnam Nhon Trach 2 Power Joint-Stock Company has signed a loan with six banks for the construction of its thermal power project in the southern province of Dong Nai, Vietnam.
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Lukoil has signed an unsecured $1.5 billion club financing.
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Anglo-Russian oil group TNK-BP has increased the target amount for its three-year unsecured club deal.
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Standard Chartered Bank has signed a telecoms deal with Zain communications Ghana Ltd, backed by Sweden’s EKN.
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Standard Chartered’s Tan Kah Chye, has been named as the new chair of the ICC Commission on Banking Technique and Practice.
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DBS Bank has made three senior additions to its global transaction services (GTS) business.
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Botswana Power Corporation has refinanced its bridge facility for the Morupule B coal-fired power and transmission project located in the Palapye Township, Botswana.
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Australia’s export credit agency EFIC is helping to finance Australian disaster film Panic at Rock Island.
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Rusal is poised to refinance its Russian bank trade debt and sign a project loan for the completion of its Boguchanskaya plant.
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Start-up company Milestone Aviation secures finance for unique leasing business.
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Satellite operating company Iridium reports commitments in excess of $1.8 billion.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK trade statistics.
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HSBC has made three new senior appointments in its resources and energy group in Asia-Pacific.
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The International Finance Corporation and the government of Colombia have completed the third and final contract for the country’s $2.7 billion Ruta del Sol 1,071 km highway project.
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Satellite communication company Inmarsat is pursuing backing by the Export-Import Bank of the United States to cover its three-satellite contract with Boeing Space and Intelligence Systems.
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Lukoil is set to sign an unsecured jumbo club financing “imminently”.
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A pre-export financing for Russia’s coal producer Siberian Energy Coal Company (SUEK) attracts further senior lenders.
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Ghana Cocoa Board (Cocobod) raises record level of commitments for annual pre-export finance.
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Korea Export Insurance Corporation (KEIC) has changed its name to Korea Trade Insurance Corporation( K-sure) and will begin covering commodity imports in addition to exports.
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The EBRD has launched general syndication for an A/B loan to support Romanian aluminium producer Alro.
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Barclays Corporate has made four senior appointments to its cash and trade team.
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The Republic of Cote d'Ivoire has joined the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC).
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The EBRD has signed a credit line with Romania’s Millennium Bank Romania for on-lending to small and medium-sized enterprises (SMEs).
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Turkey’s Garanti Factoring has reported 20% profit increase for the first half of 2010.
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The Export-Import Bank of the United States has approved a working capital loan guarantee for Ford to finance export sales to Canada and Mexico.
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Noble Group has signed a refinancing to amend an existing guarantee facility and support the issue of standby letters of credit and other operational instruments.
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WestLB has arranged the senior debt financing for a commercial container port in Colombia under the IFC’s A/B loan programme.
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JBIC and Mizuho are cofinancing a loan to support the export of a Japanese-built cargo ship for a Singapore-based joint venture company.
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The Inter-American Development Bank (IADB) is providing Banco de Galicia y Buenos Aires with a loan to support environmentally beneficial projects.
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Unicredit signs borrowing base facility for gold investment company Endeavour Finance Corporation to acquire Canadian mining firm Etruscan.
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Banks have signed a trade deal for International Bank of Azerbaijan.
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Ghana Cocoa Board (Cocobod) raises record level of commitments for annual pre-export finance.
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Daniel Zelikow has been named as the head of a new international public sector group within JP Morgan’s global corporate bank.
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Banks have closed the senior tranche of Russian oil producer Gazprom Neft’s debut syndicated pre-export financing.
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Close to customers
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Invaluable support for business
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Abu Dhabi's Emirates Steel Industries has secured funding from Sace and a group of banks for long-term debt for the development of its plant at Taweelah.
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Inter-American Development Bank approves second phase expansion loan for Nicaraguan San Jacinto-Tizate geothermal power project.
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Surecomp’s flagship trade finance system has been awarded SWIFTReady application status.
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Australian export credit agency EFIC is providing an export working capital guarantee to Viocorp, a provider of digital media projects, for a project in Malaysia.
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Scotiabank has completed the acquisition of RBS’s wholesale banking operations in Colombia with the launch of Scotiabank Colombia.
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BNY Mellon has appointed Mark Fenner as head of relationship management and sales for treasury services across the Middle East and Africa region.
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Brazilian law firm Ramos e Zuanon Advogados has appointed a new partner, José Eduardo Manassero, and will now be known as Ramos, Zuanon e Manassero Advogados (RZM Advogados).
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IT networking and communications services distributor Westcon Group has signed a new invoice financing deal with HSBC Invoice Finance..
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The West now views Asia as central to the global economic recovery. Davy Kurniadi, Asia regional manager, Falcon Group, explores the future of trade finance in the region.
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Canadian export credit agency EDC has joined SMBC and BNP Paribas to close a borrowing base facility for Calgary-based oil and gas exploration firm TransGlobe.
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Banks have launched a trade revolver for energy trader Trafigura Beheer.
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Banks have signed the Sace-backed tranche of a jumbo project financing to build a 500 tonne polypropylene production complex in Russia.
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After attracting an oversubscription in general syndication Ukrainian steelmaker Metinvest has scaled back its pre-export financing.
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The US government’s development agency, the Overseas Private Investment Corporation (OPIC), has announced its new leadership team.
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Credit Agricole CIB and Sinosure have signed a comprehensive business cooperation agreement to further develop support for their clients.
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JP Morgan has strengthened its global trade practice through an enhanced organisational structure and an impressive list of well-known hires across the globe.
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International Finance Bank selects China Systems’ trade services solution.
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Export Development Canada is providing financing for the export of Bombardier aircraft to Deutsche Lufthansa.
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Nordea has signed a new four-year deal with Russian steel producer Evraz to refinance its existing loan facilities.
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Law firm Simmons & Simmons has announced that Qatar-based partner, Samer Eido, will take over as the new head of the financial markets practice in the Middle East.
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Photos from Trade Finance Magazine’s 5th Annual Asia Awards Dinner held in Hong Kong.
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Wells Fargo Global Banking seeks to provide US companies with trade finance, cross-border financing, working capital and treasury management.
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Deutsche Bank has reported a 9% increase in its net income for the second quarter of 2010, driven partly by success in its trade finance and global transaction banking business.
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The Arab Bank for Economic Development in Africa has signed an agreement with the Kenyan government to help build the 146km Nuno-Modogashe Road.
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OCBC Bank Malaysia has introduced trade finance alerts for its clients.
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Trade credit insurer Euler Hermes has opened its fifth Latin America office in Santiago.
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The launch of IADB’s report “India: Latin America’s Next Big Thing?” saw discussion underline the huge potential for more trade between the two, and how India may be a better match for the region than China.
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Standard Chartered Bank has created a new position - global head of commodities research – to help develop new business in the commodity derivatives and physical markets.
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IFC has signed an agribusiness loan with Serbia’s Société Générale Banka Srbija.
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Trade credit insurer Atradius has increased additional cover in the retail sector across the UK.
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The African Development Bank has signed a line of credit to Afreximbank to finance trade and trade-related projects in Africa.
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UK export credit agency ECGD's support for exporters increased this year by 51%, driven mainly by export orders of Airbus aircraft.
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Sole MLA Citi has finalised the export credit agency supported financing of PetroVietnam’s Nhon Trach 2 combined cycle power plant project – the largest ECA facility ever arranged in Vietnam.
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A loan from PEFCO with a US Ex-Im guarantee is maintaining US jobs through the export of Siemens turbines to Korea.
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Anglo-Russian oil group TNK-BP has sent proposals to banks for an unsecured syndication, the first this year for a Russian oil major.
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The Export-Import Bank of the United States has opened in Iraq to help finance short-term and medium-term sales of US exports to Iraqi buyers in both the public and private sectors.
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The European Bank for Reconstruction and Development is launching the first ever facility to improve funding for agribusinesses and the use of warehouse receipts in Serbia.
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Lloyds TSB Corporate Markets’ West Midlands team has signed a flexible funding package for gearbox manufacturer ALLEN Gears to support its working capital requirements.
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Services provider Cotecna Asia has launched an online service for the inspection and quality control of consumer goods.
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Trade Finance Magazine has won the Specialised Information Publishers Association’s (SIPA) Product of the Year prize.