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Metals Commodity Finance

  • Nyrstar debut borrowing base oversubscribes 09 March 2010

    A debut borrowing base facility for zinc producer Nyrstar has closed “massively” oversubscribed.

  • 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.

  • Noble reports record volumes for 2009 23 February 2010

    Commodities trader Noble Group has announced high revenues and record group tonnage volumes for 2009.

  • Nyrstar debut borrowing base to hit target 23 February 2010

    A debut borrowing base facility for zinc producer Nyrstar is proving popular in the syndications market and looks likely to hit its target amount say bankers close to the deal.

  • JPMorgan acquires RBS Sempra 17 February 2010

    JPMorgan has acquired RBS Sempra Commodities' global assets leaving just the firm’s North American natural gas and power business.

Softs Commodity Finance

  • SG signs Faso Coton pre-export financing 11 March 2010

    Société Générale has closed a pre-export financing for Burkina Faso cotton producer Faso Coton.

  • Noble reports record volumes for 2009 23 February 2010

    Commodities trader Noble Group has announced high revenues and record group tonnage volumes for 2009.

  • 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.

  • Market predicts Ghana Cocobod price drop 08 February 2010

    Pricing for Ghana Cocobod’s annual pre-export financing looks likely to drop by at least 100 basis points according to a poll conducted by Trade Finance Magazine.

  • GTLP plans to launch food trade fund 04 February 2010

    The IFC’s Global Trade Liquidity Programme is set to launch a $1 billion agri-trade fund.

  1. Trade Finance – February 2010

  2. A new trade landscape emerges in LatAm

  3. Export credit agencies to the rescue of trade finance

  4. Export finance banks call for level playing field

  5. Export credit agencies ranked

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%

Quote

Until credit sanctioners can escape from their investment grade comfort zone, they’ll never enable the full potential of an STCF approach to be felt.

Aidan Applegarth, independent banking consultant - Commodity banks bounce back, December 2009


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