Miga and Nexi team up

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03 July 2009

Nexi and Miga have entered into an agreement under which the latter’s exposure on a mining project will be reinsured.

Nippon Export and Investment Insurance (Nexi) has entered into a reinsurance agreement with the Multilateral Investment Guarantee Agency (Miga), the political risk insurance arm of the World...

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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?

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

With a number of banks I think we will all come out of this stronger if anything – and what I hope bank managements are doing is comparing this business with other business lines within their banks. They will find commodity finance is a winner.

Karel Valken, global head of agri, global trade and commodity finance, Rabobank - December 2009