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Export & Agency Finance

  • March

    Skye Bank secures trade credit line with Kexim 11 March 2010

    Nigeria’s Skye Bank has signed a trade credit line with the Korean Export-Import Bank boost its trade and import operations.

  • GBF aids agriculture in Peru 11 March 2010

    The IFC and Peru LNG have helped Agricola Viñasol to obtain a GBF loan to diversify its portfolio of agricultural products in local and export markets.

  • China Exim funds Sri Lankan airport 11 March 2010

    Export-Import Bank of China has signed a loan agreement to construct Mattala Airport and the Colombo-Matara Railway in Sri Lanka.

  • EBRD funds Petrolinvest in Kazakhstan 11 March 2010

    The European Bank for Reconstruction and Development has approved a convertible loan to finance the completion of Petrolinvest oil exploration works in Kazakhstan.

  • Al Jaber seeks ECA financing 11 March 2010

    Al Jaber is planning to raise funds through export credit agency facilities and the bond market.

  • Obama addresses US Ex-Im meeting 11 March 2010

    Remarks by President Obama at the Export-Import Bank's Annual Conference at the Omni Shoreham Hotel, Washington, DC. Source: www.whitehouse.gov

  • Germany extends export credit refinancing 10 March 2010

    The German government has extended its export credit refinancing aid scheme for long-term export credit for a further six months.

  • BCC bemoans UK export finance 10 March 2010

    A British Chambers of Commerce survey finds that UK exporting businesses are still experiencing severe difficulties securing essential export trade finance.

  • JBIC supports Indonesian power 09 March 2010

    The Japan Bank for International Cooperation has agreed to finance two separate power projects in Indonesia.

  • US Ex-Im appoints new vice presidents 09 March 2010

    The Export-Import Bank of the United States has named two new senior vice presidents for congressional affairs and small business.

  • Obama to address US Ex-Im conference 08 March 2010

    President Obama is confirmed to address US Ex-Im’s annual conference underlining the administration’s commitment to create jobs through exports.

  • ANZ makes key hires in export finance 08 March 2010

    ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.

  • EDC invests in water fund 08 March 2010

    Canadian ECA, Export Development Canada, is set to invest in XPV Water Fund, a Canadian venture capital fund focused on the water sector.

  • IFC aids African credit reporting 08 March 2010

    The International Finance Corporation has hosted a series of workshops to improve credit reporting in Ethiopia, Mozambique and Tanzania.

  • CAF invests in Peru infrastructure fund 05 March 2010

    The Andean Development Corporation (CAF) has approved a $40 million capital investment in the Peruvian Infrastructure Fund.

  • EDC finances Russia gas tech purchase 05 March 2010

    Export Development Canada is providing a $48 million loan to Russia’s Gazprombank to finance the purchase of equipment to capture and process flared gas.

  • EBRD signs first Armenian local currency loan 05 March 2010

    The EBRD has signed a trade financing to Byblos Bank Armenia, which will include a local currency element, a first for an EBRD financing in Armenia.

  • Standard Bank and OFID partner for trade 05 March 2010

    Standard Bank and the OPEC Fund for International Development have today signed an agreement to launch two African trade financing initiatives.

  • OFID signs credit line for PTA Bank 04 March 2010

    OFID and the Eastern and Southern African Trade and Development Bank have signed a one-year renewable line of credit to boost trade in sub-Saharan Africa.

  • EBRD signs Ameriabank trade loan 04 March 2010

    The EBRD has signed a trade loan to Ameriabank for on-lending to Armenian companies under its medium sized co-financing facility (MCFF).

  • Former Ex-Im boss joins renewable energy firm 03 March 2010

    Sapphire Energy has hired former US Export-Import Bank and TARP executive James Lambright to drive its international expansion efforts.

  • MIGA signs MoU with Kexim 03 March 2010

    The Multilateral Investment Guarantee Agency and Korea Exim-bank have signed a MoU to promote FDI into developing countries and support Korean outward investment.

  • Xiwang Sugar receives IFC support 02 March 2010

    An IFC loan to China’s Xiwang Sugar holdings will boost both rural employment and further develop sustainable agribusiness.

  • EFIC underwrites car park performance bond 02 March 2010

    Australian export credit agency EFIC is underwriting a performance bond enabling Park Assist to fulfil a contract in Seattle.

  • Multilaterals pump billions into European banks 02 March 2010

    The EBRD, the European Investment Bank Group, and the World Bank under a joint IFI Action Plan have supplied over Eu19 billion to support banks in central and Eastern Europe during 2009.

  • AIEx appoints new president 02 March 2010

    The Australian Institute of Export (AIEx) has appointed a new national president.

  • Export credit agencies ranked 02 March 2010

    The top 38 export credit agencies have been ranked by BExA according to the different products they offer their exporters.

  • ECAs back turbine export to Slovakia 01 March 2010

    US Ex-Im and Hexim have agreed to co-guarantee the sale of a gas turbine generator from GE Energy to a power plant located in Povazska Bystrica, Slovakia.

  • February

    Zurich and KEIC sign MoU 26 February 2010

    Global insurer Zurich’s North America Surety, Credit & Political Risk group has signed a MoU with Korea Export Insurance Corporation (KEIC), Korea’ export insurance agency.

  • Pakistani engineers call for export insurance 26 February 2010

    Pakistan’s engineering industry has called for a government backed export credit insurance scheme to cover the sector.

  • EFIC funds Footcare’s worldwide expansion 26 February 2010

    Australia’s export credit agency Export Finance and Insurance Corporation is financing manufacturer Footcare International to expand its overseas sales.

  • Banks ink Hermes-covered Tobolsk-Polymer tranche 26 February 2010

    Banks have signed the Euler Hermes-backed tranche of a jumbo project financing to build a 500 tonne polypropylene production complex in Russia.

  • EBRD sells Centerra Gold stake 26 February 2010

    The EBRD has sold its minority stake in Centerra Gold, the Canadian-based gold mining and exploration company, operating primarily in the Kyrgyz Republic and Mongolia.

  • Banobras NIP to be boon for US exporters 25 February 2010

    US Ex-Im and Banobras have signed a memorandum to support up to $1 billion in US exports to back Mexico’s infrastructure development programme.

  • JBIC funds plastics plant in China 25 February 2010

    The Japan Bank for International Cooperation (JBIC) has agreed a loan with Japan’s Engineering-Plastics Corporation to build a new polycarbonate production facility in China.

  • IFC steps up funding for Pakistan 25 February 2010

    The International Finance Corporation has recorded an 80% rise in the number of trade finance guarantees approved for Pakistan last year compared to 2008.

  • EBRD backs Intesa’s SME lending 25 February 2010

    The EBRD and Intesa Sanpaolo Group have created a financing package for small and medium enterprises in central and Eastern Europe.

  • World trade suffers 65-year record drop 25 February 2010

    World trade has experienced the largest single drop since the Second World War, according to the World Trade Organisation.

  • Mexican national indicted for US Ex-Im fraud 24 February 2010

    A Mexican national has been indicted and arrested in connection with an alleged scheme to defraud US Ex-Im.

  • ADB to open mission in Turkmenistan 24 February 2010

    Asian Development Bank President Haruhiko Kuroda has announced that ADB will open a resident mission in Turkmenistan's capital, Ashgabat.

  • Banks sign Telefónica buyer credit 23 February 2010

    Citi and Deutsche Bank have signed a buyer credit for telecoms firm, Telefónica, backed by Swedish export credit agency EKN.

  • Philippine banks join ADB trade programme 23 February 2010

    The Asian Development Bank (ADB) has signed the first five Philippine banks to its Trade Finance Facilitation Programme (TFFP).

  • Afreximbank upgrades Zimbabwean mines 23 February 2010

    Africa’s Export-Import Bank (Afreximbank) has unveiled a financing package for Zimbabwe’s gold and platinum mines.

  • RBI lowers foreign currency export credit rate 22 February 2010

    The Reserve Bank of India has lowered the foreign currency export credit rate to aid Indian exports.

  • EBRD finances mining services in Mongolia 22 February 2010

    The European Bank for Reconstruction and Development is to provide financing to Leighton Mongolia to offer services for at least two Mongolian projects.

  • US Ex-Im names members for SAAC 22 February 2010

    US Ex-Im has approved ten members to its sub-Saharan Africa Advisory Committee.

  • BExA launches trade manifesto 22 February 2010

    The British Exporters Association (BExA) has launched a manifesto detailing a list of changes it wishes to see in the way that the UK government supports exports.

  • USTR, Commerce and SBA heads to speak at Ex-Im 22 February 2010

    The heads of the USTR, Department of Commerce and SBA are all scheduled to speak at the US Ex-Im annual conference.

  • Russia and Abkhazia enter trade pact 19 February 2010

    Russia’s Vnesheconombank and Abkhazia’s Universal-bank have signed a general agreement of cooperation to promote trade.

  • Bolivian bank joins IFC trade programme 19 February 2010

    Bolivia’s Banco Ganadero has joined the International Financial Corporation’s Global Trade Finance Programme to help expand trade financing for its clients.

  • OECD head to be US Ex-Im meet keynote 19 February 2010

    Angel Gurría, secretary-general of the OECD, will deliver a keynote address at the Export-Import Bank of the United States (US Ex-Im) 2010 Annual Conference.

  • PNG LNG to close oversubscribed 19 February 2010

    Papa New Guinea’s ECA-backed record liquefied natural gas project is set to close, oversubscribed, next month.

  • Ecopetrol sets out 2010 financing plan 18 February 2010

    Ecopetrol’s senior management has set out the company’s intentions for 2010 with plans to raise $3.5 billion in financing.

  • EBRD funds Serbian gas network 18 February 2010

    Serbia’s state-owned Srbijagas has received an EBRD sovereign loan that will finance the upgrade of its gas transmission network as well as repay its short-term loans.

  • ECGC maintains ratings for EU countries 18 February 2010

    The Export Credit Guarantee Corporation of India is to maintain its credit risk rating for European countries in danger of sovereign defaults.

  • AfDB picks new chief economist 18 February 2010

    The African Development Bank has appointed Professor Mthuli Ncube as the bank’s new chief economist.

  • EBRD commits to investment in Kazakhstan 18 February 2010

    The European Bank of Reconstruction and Development has signed a MoU to invest in infrastructure and industrial projects in Kazakhstan.

  • Hermes builds new marketing and distribution division 18 February 2010

    German export credit agency Euler Hermes has created a new market management, marketing, commercial and distribution division.

  • BTMU inks credit agreement for PAMA 18 February 2010

    The Japan Bank for International Cooperation, with BTMU, have signed a buyer's credit agreement for Indonesia’s PT Pamapersada Nusantara.

  • ONDD raises premiums for the Baltics 17 February 2010

    Belgian export credit agency ONDD has increased its insurance premiums for Estonia, Lithuania and Latvia.

  • CEOs of GE and Caterpillar to open US Ex-Im Conference 17 February 2010

    GE CEO Jeff Immelt and Caterpillar CEO Jim Owens are the opening speakers at the US Ex-Im Bank annual conference 2010 on March 11-12 In Washington, D.C.

  • GTLP nears the billion mark 17 February 2010

    As the IFC’s Global Trade Liquidity Programme (GTLP) gets close to disbursing $1 billion, Dickon Harris spoke to German Vegarra, senior manager for global financial markets at the IFC, and Laura Mecagni, senior investment officer.

  • Interview: Jorge Tapia, Santander 17 February 2010

    Jonathan Bell talks with Jorge Tapia, global head of trade, export and commodity finance at Santander, based in Madrid, about the bank’s developments in the trade finance spectrum and its plans for the future.

  • Interview: Olivier Paul, BNP Paribas 17 February 2010

    BNP Paribas has once again topped the Dealogic trade finance league tables completing an impressive $11.9 billion worth of business. Dickon Harris catches up with Olivier Paul, the bank’s global head of export finance.

  • Providing better support for US exports 17 February 2010

    With US government attention focused on expanding exports, the role of the Export-Import Bank of the United States (US Ex-Im) has never been more important. Oliver O’Connell reviews how this is changing the export finance market.

  • Unlocking SME growth 16 February 2010

    James Prusky and Robert Klein, principals at Crecera Finance Company, discuss the role of trade finance in unlocking growth in the Latin American SME market.

  • Kexim launches Hidden Champion programme 16 February 2010

    Korea Eximbank is to provide additional funding for a selection of South Korean small and medium enterprises.

  • EDC employees raise thousands for Haiti 16 February 2010

    Export Development Canada employees have raised funds for disaster relief in Haiti with EDC and the Canadian Government matching donations.

  • ATFP increases credit line to Jordan 16 February 2010

    Jordan has signed an extension line of credit agreement to increase a previous loan by the Arab Monetary Fund.

  • A new trade landscape emerges in LatAm 16 February 2010

    Valentino Gallo, Managing Director and Americas Head, Citi, Export and Agency Finance, takes a look at the effects of last year’s dramatic shifts in the financial landscape and the way forward in 2010.

  • Latin America leads the way in the GTFP 16 February 2010

    Market comment: Antonio Alves, senior regional head of trade finance, Latin America and Caribbean region, IFC.

  • AfDB signs credit line for Zambia 15 February 2010

    The African Development Bank Group has signed a line of credit with Zambia National Commercial Bank.

  • Brunei offers export finance for SMEs 15 February 2010

    The Brunei Government will launch a financing scheme to help fund local small and medium enterprises expand into export markets.

  • India Exim inks Mali credit line 15 February 2010

    The Export-Import Bank of India has signed two separate lines of credit with the government of Mali to finance Indian exporters contributing to energy and agricultural products in Mali.

  • Nexim receives ECOWAS credit line 15 February 2010

    The Economic Community of West African States has signed a credit line to the Nigerian Export Import Bank.

  • IFC pledges billions for Africa 12 February 2010

    The World Bank’s International Finance Corporation has promised to invest $2 billion in Africa by June 2010.

  • India Exim agrees line of credit for Mauritania 12 February 2010

    Indian export credit agency, India Exim, has extended a line of credit to Mauritania to finance potable water and agricultural development projects.

  • Augusta uses streaming deal to part fund copper mine 12 February 2010

    Vancouver’s Augusta Resource Corporation has signed a gold and silver streaming deal with Silver Wheaton Corporation to help fund its Rosemont Copper Project.

  • Kexim leads UAE nuclear project 11 February 2010

    Kexim is to devise a financing package for a large-scale nuclear reactor project in the United Arab Emirates.

  • Standard Chartered provides microfinance loan to Philippines 11 February 2010

    Standard Chartered Bank has provided its first microfinance loan in the Philippines to CARD Bank.

  • Pakistan and Afghanistan to benefit from increased IFC investment 11 February 2010

    IFC intends to dramatically increase its exposure to Pakistan and Afghanistan through the Global Trade Finance Programme and additional investment.

  • Report calls for ECGD to ape other ECAs 11 February 2010

    A UK state business advisory committee has called for the UK export credit agency ECGD to adopt similar products to other European export credit agencies to help UK exporters weather the crisis.

  • Calyon arranges Czech Republic aircraft loan 10 February 2010

    Calyon has arranged a US Ex-Im backed financing for the Czech Republic’s Travel Service Airline.

  • DAE prices latest US Ex-Im aircraft bond 10 February 2010

    Dubai Aerospace Enterprise is the latest organisation to price a US Ex-Im bond for the purchase of aircraft.

  • EDC appoints Weber to Environmental Finance Chair 10 February 2010

    Export Development Canada has announced the appointment of Dr. Olaf Weber as the first EDC Chair at the School of Environment, Enterprise and Development.

  • EC authorises EKN put option 09 February 2010

    The European Commission has authorised a new ‘take out’ option offered by Danish export credit agency EKF.

  • EBRD and EFSE support MSEs in Moldova 09 February 2010

    The European Bank for Reconstruction and Development and the European Fund for Southeast Europe have provided a loan to support micro and small enterprises in Moldova.

  • IFC to finance Pakistan and Afghanistan infra projects 09 February 2010

    The International Finance Corporation has announced the target amount it intends to fund infra projects in Pakistan and Afghanistan.

  • US Ex-Im inks loan for Israel’s hydrocracker 09 February 2010

    Israel’s Oil Refineries (ORL) has secured a financing framework to build a hydrocracker project- described as Israel’s “largest investment plan this year”.

  • JBIC provides oilfield acquisition loan 09 February 2010

    The Japan Bank for International Cooperation has signed a loan with Norske AEDC AS to acquire an interest in the Yme oil field in Norway.

  • Resourcehouse secures jumbo China export contract 09 February 2010

    Iron ore and coal company Resourcehouse has secured Australia’s largest export contract - 20-year sales agreement with China Power International Development.

  • EBRD declares new strategy for Kazakhstan 08 February 2010

    The European Bank of Reconstruction and Development has announced a new strategy to support Kazakhstan, which does not involve either Alliance Bank or BTA Bank.

  • EDC provides loan to Chilean mine 05 February 2010

    Canadian export credit agency, EDC, has provided a loan to Chilean mining company Minera Los Pelambres.

  • IFC to hold Frankfurt SME meeting 05 February 2010

    IFC, a member of the World Bank Group, and DEG, are hosting a G20 small and medium-sized enterprises finance meeting next week in Frankfurt, Germany.

  • VTB signs Belarusbank trade deal 05 February 2010

    Intesa Sanpaolo and VTB Capital have signed a trade-realted loan to Belarusbank.

  • Iraqi bankers begin trade finance training 04 February 2010

    The International Finance Corporation has held its first trade finance training seminar for Iraqi bankers in Beirut, Lebanon.

  • Top role for US Ex-Im in Export Initiative 04 February 2010

    Secretary of Commerce Gary Locke has announced that US Ex-Im is to play a vital role in President Obama’s National Export Initiative - details.

  • US National Exports Initiative announcement 04 February 2010

    Full text of the Commerce Secretary Gary Locke's announcement of the details of the National Exports Initiative.

  • VEB to create Russian ECA 03 February 2010

    Vneshekonombank will set up an export credit agency within four years according to the bank’s CEO Vladimir Dmitriev.

  • Abu Dhabi planning export agency 03 February 2010

    Abu Dhabi plans to create an export development agency in the third quarter of 2010 to boost its non-oil exports.

  • World Bank President Zoellick’s speech at African Union Summit 03 February 2010

    World Bank President Robert Zoellick described a range of trade and development initiatives that the bank has planned for Africa in a speech given at the African Union Summit held 31 January 2010 in Addis Ababa.

  • EDIF joins US Ex-Im to boost Florida exports 02 February 2010

    The Economic Development Investment Fund has joined the Export-Import Bank of the United States to increase support for Floridian exporters.

  • Singapore considers creating ECA 01 February 2010

    The Singapore Economic Strategies Committee has recommended creating an export credit agency to help domestic firms expand abroad.

  • Armenian SMEs receive EBRD support 01 February 2010

    The EBRD has issued a trade finance loan to ArmSwissBank to benefit small and medium enterprises in Armenia.

  • US Ex-Im names new advisory committee members 01 February 2010

    The Export-Import Bank of the United States has named seven new members, and nine returning members, to the bank's Advisory Committee for 2010.

  • JBIC inks CAF trade finance loan 01 February 2010

    Under the government of Japan’s Trade Finance Initiative, JBIC has signed its first loan to CAF to directly support trade finance.

  • January

    US Ex-Im celebrates Air India deal 29 January 2010

    JPMorgan, the Export-Import Bank of the United States and the National Aviation Company of India (Air India) are celebrating the close of a jumbo US EX-Im backed financing to supply Boeing aircraft to Air India.

  • NFTC welcomes Obama commitment to exports 28 January 2010

    The National Foreign Trade Council has welcomed President Obama’s commitment to expanding export opportunities and strengthening trade ties.

  • US Ex-Im triples loans in first quarter 28 January 2010

    The Export-Import Bank of the United States has authorised a record amount of loans during the first quarter of 2010 tripling the amount authorised in the same period of 2009.

  • US Agri Sec ups export promotion 27 January 2010

    US Agriculture Secretary Tom Vilsack has announced the allocation of million of dollars to promote US food and agricultural exports.

  • Finnvera backs Indian telecom buyer credit 27 January 2010

    Finland’s export credit agency Finnvera is providing a guarantee on a buyer credit for Indian telecom company Idea Cellular Limited.

  • EKN covers buyer credit for Indonesia’s Telkomsel 26 January 2010

    Swedish export credit agency EKN is backing a buyer credit financing for PT Telekomunikasi Selular Indonesia (Telkomsel).

  • Isbank utilises ship export credit line 26 January 2010

    JBIC is supporting the export to Turkey of a Japanese-built bulk carrier through the utilisation of a ship export credit line.

  • Asia SMEs get help with cross border trade 26 January 2010

    The ADB is funding a study of market and finance barriers to boost cross-border trade by SMEs.

  • Export credit agencies to the rescue of trade finance 25 January 2010

    What saved trade from collapsing totally during the global crisis? This column argues that export credit agencies played a key role in stabilising the trade finance market, and thus helped reduce credit risks and allowed exporters to offer open account terms in competitive markets.

  • IFC to help Eastern Europe deal with bad loans 22 January 2010

    IFC plans to buy up nonperforming loans in Central and Eastern Europe in cooperation with Varde Partners, a distressed debt and asset firm.

  • Cesce backs Dominican Republic health city 22 January 2010

    Deutsche Bank and Société Générale have closed a buyer credit loan to the Dominican Republic to build three new hospitals in Santo Domingo.

  • Export finance banks call for level playing field 22 January 2010

    Global heads of export finance from 13 leading banks gathered today in Paris to discuss issues that impact on the ECA-backed business line.

  • USTR increases focus on SMEs 21 January 2010

    USTR Ambassador Kirk designates assistant United States Trade Representative (AUSTR) for small business, market access, and industrial competitiveness.

  • US Ex-Im and TARP officer joins Cozen O’Connor 20 January 2010

    TARP chief operating officer, and former US Ex-Im officer joins DC office of law firm Cozen O’Connor.

  • US Ex-Im inks Colombian oil field deal 19 January 2010

    Colombian buyers and US exporters to benefit from $1 billion US Ex-Im preliminary commitment to Colombia’s Ecopetrol.

  • EBRD funds Bulgarian wind farm 19 January 2010

    The EBRD has signed an A B syndicated loan to Eolica Bulgaria to finance the development of the Suvorovo wind farm, in the north-eastern region of Bulgaria.

  • Silicon Valley Bank ups Exim commitments 18 January 2010

    Silicon Valley Bank has surpassed its own record by growing US Ex-Im working capital loan commitments by 74% in 2009.

  • Hermes backs Mauritanian miner 18 January 2010

    German export credit agency Euler Hermes is guaranteeing a buyer credit loan for Mauritanian miner Societe Nationale Industrielle et Miniere.

  • Update: BExA demands UK bond support 18 January 2010

    The British Exporters Association chair is demanding that the UK government provide bond support to help UK exporters.

  • Citi supports Nigerian Foundries capex 15 January 2010

    A group of development funds including, Emerging Africa Infrastructure Fund, Finnfund, and FMO, have joined Citi to support steel manufacturer Nigerian Foundries capex needs.

  • Pakistan considers US Ex-Im facility 15 January 2010

    The Pakistan government is considering a short-term, low-cost trade liquidity facility for Pakistani traders form US Ex-Im.

  • Insurers warn of slowing Chinese trade flows 14 January 2010

    A potential slow-down in Chinese trade flows, and the rise of asset bubbles,are among some of the issues to be discussed at Davos, later in January.

  • Davos report fears infra funding gap 14 January 2010

    The World Economic Forum has highlighted the infrastructure funding gap as one of its top concerns as it publishes its report, Global Risks 2010, ahead of the Davos meeting.

  • Kogas LNG refinancing signs 14 January 2010

    Korean Gas Corporation has closed a refinancing facility for four LNG carriers.

  • IFC and DBJ streamline loans 14 January 2010

    IFC, a member of the World Bank Group, and Development Bank of Japan have agreed to streamline the process for providing loans to companies in developing countries.

  • Schahin signs Black Gold restructuring 13 January 2010

    Brazilian offshore operator Schahin has signed a debt restructuring for its Black Gold drilling vessels, to be chartered by Petrobras.

  • ADB rings in the changes 13 January 2010

    The Asian Development Bank is implementing changes to the way it does business to improve the quality and responsiveness of its work and lower transactions costs.

  • Tiger Airways concludes further aircraft financing 13 January 2010

    Delivery of five new A320 aircraft accelerated to 2010 and early 2011 from original delivery dates in 2016 to facilitate growth in Australia and Asia.

  • Dealogic 4Q 2009 ECA finance league tables 12 January 2010

    Dealogic has released the full league tables for trade finance loans up to the end of 4Q 2009. Here are the ECA finance tables.

  • Dealogic Trade Finance Review 2009 12 January 2010

    Dealogic league tables for 2009 show global trade finance volume up 3% to $155.1 billion and 4Q 2009 reached a record of $45.9 billion.

  • ECGD names new chairman 11 January 2010

    Guy Beringer QC has been appointed as non-executive chairman of ECGD, the UK export credit agency.

  • IFC, EBRD, and CRG launch distressed asset fund 11 January 2010

    Development banks IFC and the EBRD have launched a fund to be managed by the US’s CRG Capital that will invest in distressed assets in Central and Eastern Europe.

  • Sida joins IFC’s GTLP 11 January 2010

    Swedish development agency Sida is set to do more business in Central and Eastern Europe as it receive guarantees through the second phase of IFC’s Global Trade Liquidity programme.

  • Santander signs Mexico military buyer credit 08 January 2010

    Santander has a signed a long-term buyer credit deal to fund Mexico’s acquisition of military aircraft.

  • Chile’s BCI secures trade financing 08 January 2010

    Export-Import Bank of China is guaranteeing a trade loan for Chile’s Banco de Credito e Inversiones (BCI).

  • OPIC backs trade deal for BankMed 08 January 2010

    The Overseas Private Investment Corporation is backing a trade financing to Lebanon’s Banque de la Mediterranee.

  • Citi and JBIC arrange Kazakh trade loan 08 January 2010

    Japanese export credit agency JBIC and Citi have signed a trade loan for the Development Bank of Kazakhstan.

  • InfraCo seeks Miga guarantee 07 January 2010

    UK based renewables company, InfraCo, has applied for a Miga guarantee for the Cape Verde windfarm project.

  • India Exim signs loan to VEB 07 January 2010

    The Export Import Bank of India has signed a line of credit to Russia’s VEB.

  • FMO signs first deal in Kyrgyzstan 07 January 2010

    The development bank for the Netherlands, FMO, has signed its first loan in Kyrgyzstan to Kyrgyz Investment and Credit Bank.

  • OPIC makes SME loan to Garanti 07 January 2010

    The US development bank, OPIC, has arranged a loan to Garanti bank for SME lending in Turkey.

  • OFID signs loan with Amrahbank 07 January 2010

    The Opec Fund for International Development has signed a loan with Amrahbank in Azerbaijan to increase the bank’s trade finance market coverage.

  • FMO signs facilty for GTBank 07 January 2010

    The development bank for the Netherlands, FMO, has signed a $15 million term facility with Guaranty Trust Bank to boost export businesses in Ghana.

  • Miga guarantees UniCredit in Latvia 06 January 2010

    Miga has guaranteed a funding package to UniCredit Leasing in Latvia.

  • KfW funds CAF 06 January 2010

    German development bank, KfW, is refinancing the South American development bank, CAF.

  • IADB supports Chilean microfinance 06 January 2010

    The Inter-American Development bank has arranged a loan to Chile’s Banco de Crédito e Inversiones for unbanked micro-entrepreneurs.

  • AfDB signs trade finance loan for UBA 06 January 2010

    The African Development Bank has signed its largest private-sector loan to date for United Bank for Africa for trade finance purposes.

  • CAF signs energy agreement with Venezuela 06 January 2010

    The Andean Development Corporation has signed a loan agreement with Venezuela for the Termozulia III Thermoelectric Project.

  • IADB posts record year 06 January 2010

    Inter-American Development Bank posts record year thanks to response to Latin American and Caribbean demand for financing in wake of global crisis.

  • Tiger Airways gets ECA backing 05 January 2010

    Singapore’s Tiger Airways has gained ECA backing for the purchase of two Airbus A320-200s.

  • Japan and Bulgaria strengthen trade ties 05 January 2010

    JBIC credit line will help grow Japanese exports to Bulgaria.

  • US Ex-Im opens to Laos, Bolivia and Turkmenistan 05 January 2010

    Change in status further opens up three new markets for US exporters.

  • ECAs continue support for Eskom 05 January 2010

    Export credit continues to play a strong role in Eskom’s plans for expansion. Two export credit deals have recently signed for the South African power company.

  • NLMK signs first ECA deal 05 January 2010

    Russia’s Novolipetsk Steel has secured its first multi-sourced export credit agency deal.

  • Al Jaber Aviation closes ECA financing 04 January 2010

    Dubai-based Al Jaber Aviation has closed an ECA financing for Airbus aeroplanes.

  • FMO and DEG fund Vietnamese recycling plant 04 January 2010

    The German and Dutch development banks (DEG and FMO) are financing a recycling plant in Vietnam.

  • Coface backs satellite financing for SES 04 January 2010

    BNP Paribas and SG have signed a Coface-backed export financing to Societe Europeenne des Satellites to acquire four new satellites.

  • ADB supports India’s infrastructure 04 January 2010

    The Asia Development Bank is providing loans in order to support public-private partnership initiatives in India.

  • US Ex-Im supports Hylas 2 satellite deal 04 January 2010

    US Ex-Im has arranged a loan to London-based Avanti Communications to launch the Hylas 2 satellite.

  • Afrexim secures year-end oversubscription 04 January 2010

    Pan-African export credit agency African Export-Import Bank (Afreximbank) has seen its latest trade refinancing more than double as banks rushed to join the deal before year-end.

  • IFC and Capacent study emerging market supply chain finance 04 January 2010

    IFC mulls role in supporting emerging market suppliers’ interest in supply chain finance solutions.

Poll

Gazpromneft stunned the market this week when it was revealed pricing for their five-year $1 billion pre-export financing was rumoured to be just above 300 basis points over Libor. Is the deal likely to be a syndication success?

Yes - this seems like a sensible pricing benchmark, why not?
9%
No - are you crazy? These prices are ridiculous. What were these banks thinking?
27%
Yes - but for all the wrong reasons. A lack of other deals in the market, and the promise of future business with Gazpromneft will make it hard to ignore but don’t expect many to take up big tickets with this deal. There are much better deals out there.
64%