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Export & Agency Finance

  • CITIC and CDB sign Argentine subway loan 02 September 2010

    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.

  • GIEK backs seismic vessel loan 02 September 2010

    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.

  • Sberbank signs export credit agreement 01 September 2010

    Sberbank and German export credit consortium AKA Bank have signed a revised version of an agreement to finance exports into Russia.

  • Serv to open French speaking Swiss branch 01 September 2010

    Swiss export credit agency Serv is to expand its support to exporters in French speaking Switzerland by opening a branch office in Lausanne, Switzerland.

Commodity Finance

  • Stemcor turns to Asia loan market 30 August 2010

    UK steel trader Stemcor has returned to the syndications market with a $75 million revolving credit facility targeted at Asian lenders.

  • CA-CIB signs Eskom Medupi power deal 27 August 2010

    Credit Agricole Corporate Investment Bank has signed a bilateral buyer credit for South African power giant Eskom’s Medupi power plant.

  • Sonangol calls for jumbo oil facility 26 August 2010

    Angolan’s state-owned oil firm Sonangol is seeking a loan of $2 billion-$3 billion with a tenor of seven years or longer.

  • WestLB syndicates Brazil soy deal 25 August 2010

    WestLB has launched syndication of a pre-export financing facility for Brazilian agri-company Vigolo- Bom Jesus.

Trade & Supply Chain

Factoring & Forfaiting

  • Bibby expands UK team 02 September 2010

    UK trade finance provider Bibby Financial Services has appointed a new business development manager for trade and international finance for the South East.

  • Noa Factoring declares insolvency 31 August 2010

    Noa Factoring has declared bankruptcy prompting German regulator Bafin to close its Frankfurt-based parent Noa Bank.

  • Garanti Factoring hails 20% profit increase for 2010 05 August 2010

    Turkey’s Garanti Factoring has reported 20% profit increase for the first half of 2010.

  • Bibby signs Bruno export factoring loan 15 July 2010

    UK trade finance provider Bibby Financial Services has signed an export factoring facility to Bruno Commodities, a UK-based importer and exporter of edible nuts and dried fruit.

Trade Finance Loans

  • EFIC inks art projects 02 September 2010

    Australia’s export credit agency Export Finance and Insurance Corporation has signed a capital guarantee to support Urban Art Projects’ expanding international operations.

  • StanChart structured trade head to take new role 30 August 2010

    Standard Chartered Bank’s global head of structured trade finance is taking up a new role at the bank.

  • Stemcor turns to Asia loan market 30 August 2010

    UK steel trader Stemcor has returned to the syndications market with a $75 million revolving credit facility targeted at Asian lenders.

  • Commonwealth Bank steps into India 25 August 2010

    Commonwealth Bank of Australia has opened its first branch in India.

Law & Regulation

Trade Credit & Political Risk Insurance

  • EFIC inks art projects 02 September 2010

    Australia’s export credit agency Export Finance and Insurance Corporation has signed a capital guarantee to support Urban Art Projects’ expanding international operations.

  • MIGA extends reach with Asia hub 30 August 2010

    MIGA has launched its Asia hub to expand its reach beyond the Washington DC headquarters, naming its CFO as regional director.

Trade Infrastructure

Islamic Trade Finance

  1. Trade Finance – July/ August 2010

  2. Trade Finance Deals of the Year 2009

  3. StanChart structured trade head to take new role

  4. Commodity banker Saydam joins Goldmans

  5. Outstanding idea: Outsourcing trade

Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.
8%
No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.
23%
No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.
23%
Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.
46%

Quote

Many of our clients’ customers are in Asia, and we will see more and more demand from that part of the world. The markets in South-East Asia represent enormous opportunities for Nordic firms. We have the expertise to really help our customers enter, and do business in these markets.

Lars Millberg, SEB - Trade Finance, June 2010


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