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May
EFIC has stated its intention to provide additional support to assist companies based in Western Australia.
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HSBC and Australia’s EFIC have teamed up to sign an export credit facility with Russia’s VEB to finance a cattle breeding project in the Bryansk region.
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Australia and Malaysia have signed a Free Trade Agreement to promote further cooperation between the nations.
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Texel has officially opened a trade insurance brokerage in Singapore, primarily focusing on political and credit risk in the commodity finance market.
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RBS and development finance institutions FMO and DEG, have combined to arrange a loan facility for an Indonesian vehicle finance institution.
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Development finance institutions, Proparco, DEG and FMO have committed financing for the extension of a combined cycle power plant in Indonesia.
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Citi has appointed a new head of corporate and investment banking for the Philippines.
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Citi launches payment analytics tool on CitiDirect BE for increased visibility of payment activities.
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US Ex-Im has approved its second largest single project financing ever to support the export of US goods and services to the Australia Pacific LNG project.
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Watson, Farley & Williams has strengthened its international practice in Asia with the addition of a shipping, infrastructure project and mining specialist from Norton Rose.
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HSBC has created a new role within its Asia-Pacific trade and receivables finance department and appointed a head.
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Thai Airways has mandated BNP Paribas to arrange the first yen-denominated ECA-backed A380 financing.
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The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has signed a memorandum of understanding (MoU) with the Indonesia Infrastructure Guarantee Fund (IIGF) to promote infrastructure investments into Indonesia.
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The Indonesian carrier issues the first bond backed by the Export-Import Bank of the United States to dip under a 2% interest rate.
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April
A world of opportunity in commodities – by Paul Gardner, head of structured trade and export finance, Asia, at Deutsche Bank in Singapore.
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The Dutch export credit agency issues its largest working capital guarantee for shipbuilder IHC Merwede, as well as supplier risk insurance on two vessels purchased by Malaysia’s SupuraCrest.
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The Australian iron ore miner is finalising an export credit agency-backed loan facility involving Euler Hermes, Coface and ONDD.
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The Asian Development Bank and the OPEC Fund for International Development have signed a co-financing agreement targeted at public sector projects in the Asia-Pacific region.
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Asia Broadcast Satellite (ABS) is seeking US Ex-Im support for its purchase of American-made satellites.
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The Japan Bank for International Cooperation (JBIC) has signed a loan with Thailand’s Kasikornbank to onlend to flood-hit Thai-based subsidiaries of Japanese firms.
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Citi appoints Amol Gupte head of transaction services for Asia-Pacific.
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OPIC has selected NICE, a development and investment consultancy firm focussed on the Asia Pacific region, as an originator to support SMEs expanding into emerging markets.
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Singapore-based oil and energy trader Gunvor has tapped banks for a refinancing.
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Australia’s Westpac is open its first branch in India to increase commercial banking in the region.
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De Surinaamsche Bank signs up to IFC’s Global Trade Finance Programme.
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Korea Exim is set to provide funds to Korean marine transport companies engaged in global trade, in a move designed to replace a shortfall in financing from commercial banks.
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Japan’s Nexi is backing loans to Summit Oto Finance for the export of motorcycles to Indonesia. Nexi also signs new reinsurance deal with Indonesia’s export credit agency, ASEI.
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Award-winning trade finance transactions from the Asia Pacific region, signed in calendar year 2011 – as selected by the Trade Finance Magazine editorial team.
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Indonesia’s Wampu hydropower project has sourced financing from SMBC and Korean export credit agency Kexim.
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Bookrunners have launched Noble’s jumbo revolving credit facility.
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March
JP Morgan offers its reaction to the PBOC’s bilateral currency swap with the Reserve Bank of Australia, a move expected to boost renminbi trade settlement.
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First Gulf Bank (FGB) closes bilateral pre-export financing for Indonesian coking coal producer PT Asmin Koalindo Tuhup (AKT).
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PBOC’s bilateral currency swap with the Reserve Bank of Australia will help boost renminbi trade settlement.
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Japan’s export credit agency JBIC and BTMU have signed a new loan for the mega Gorgon LNG project in Western Australia.
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The risk-sharing agreement between the Asian Development Bank and Australian export credit agency EFIC has been extended to include Vietnam.
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Deutsche Bank appoints two global transaction banking heads for Indonesia and Vietnam.
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Mizuho and Shinhan Bank are funding a Nexi-backed loan to PT Oto Multiartha, a Sumitomo subsidiary involved in automotive sales and finance in Indonesia.
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The Japan Bank for International Cooperation is cofinancing the development of a new mining block at the Kestrel mine in Queensland, Australia.
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Under cover from state insurer Nexi, SMBC has funded Buon Don Hydropower’s latest run-of-the-river project in Dak Lak province, Vietnam.
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Japan’s export credit agency Nexi covers commercial portion of loan for Singaporean shipping company TeraSea to purchase offshore support vessels.
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Standard Chartered has appointed a new global head of SME banking with responsibility for 30 countries across Asia, Africa and the Middle East.
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As APLNG’s financing facility enters the documentation stage, 13 banks have committed to the upsized multi-billion commercial debt facility.
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February
Japan’s export credit agency cofinances offshore support vessels for the Singaporean shipping company.
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JLT has hired two senior political risk and structured credit insurance brokers for its Singapore office from rival Aon.
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ANZ has made several internal appointments to its senior leadership team for its combined global institutional and Asia-Pacific Europe and America (APEA) division.
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Bank of America Merrill Lynch (BofAML) has revealed the results of its inaugural CFO Outlook Asia research poll.
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Standard Chartered launches programme to deliver fast, reliable US dollar payments to Asia.
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Australia’s Productivity Commission (PC) has called for an end to EFIC’s support of onshore natural resource projects, and the financing of large corporates.
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Oil field service provider Archer has secured a loan backed by German export credit agency Euler Hermes for its Emerald drilling rig.
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The state-owned investment firm is partnering with international banks to form a specialised project finance company due to launch in the second half of 2012.
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The US export credit agency is expected to fund the single largest order in commercial aviation history placed by Indonesian carrier Lion Air.
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Australian export credit agency EFIC and the Export-Import Bank of China (China Exim) have signed a reciprocal risk participation agreement.
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The International Islamic Trade Finance Corporation has signed a structured commodity financing on behalf of PT Angels Products, an Indonesian sugar refinery.
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A performance bond guaranteed by New Zealand export credit agency NZECO has helped software company Data Torque get a foothold in Africa.
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The export credit agencies of Japan, JBIC and Nexi, are supporting a $100 million credit line to Indonesia Eximbank.
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The chairman of US Ex-Im is in Vietnam promoting exports of US goods and services for $1.5 billion of infrastructure projects, citing the financing edge US companies have over their Eurozone counterparts.
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JP Morgan treasury services has unveiled its JP Morgan ACCESS Mobile banking platform in Asia Pacific.
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The capital fuel required to keep major Australian energy and related infrastructure projects on track is running out. As the global economy stutters into 2012, John Geddie asks whether export credit will be able to keep this growth engine ticking over.
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IADB supports efforts to strengthen Asia-Latin America trade and investment ties through the Trans-Pacific Partnership.
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Hung Hai Construction Company has secured a loan for its Nam Na 3 hydropower project in Vietnam under cover from Japanese export credit agency Nexi.
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January
Failure to drawdown a loan from Japan’s state lender has led to allegations of corruption at the University of Indonesia.
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BNP Paribas and KfW IPEX-Bank have partnered to offer cement producer Holcim Indonesia a buyer credit facility for its Tuban green-field plant.
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Fundtech has partnered with Australian payment services firm Dataline to offer electronic invoice presentment and payment (EIPP) in Asia-Pacific.
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An industry body for international trade has submitted a report stating Australia’s export credit agency EFIC is not adequately supporting small and medium sized businesses.
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Three banks have signed the senior level of a jumbo credit line, guaranteed by Philippine export credit agency PhilExim, on behalf of Philippine Phosphate and Fertiliser Corporation.
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Australian airline Qantas receives two Airbus A380s deliveries arranged by HSBC and guaranteed by European ECAs.
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The UK’s export credit agency has returned to support New Zealand’s Swift Transport in its purchase of additional British buses.
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Digital Paradise Inc. of the Philippines secures ECA-backed loan from HSBC to expand its chain of internet cafes.
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Project sponsor Plenary has secured Canadian export credit agency funding and guarantees for its new state-of the-art cancer unit in Melbourne, Australia.
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China Exim and Chinese lenders fund An Khanh Electricity’s thermal power project in Vietnam.
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International banks credit Pacific International Lines under a guarantee from export credit agency Sinosure.
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Société Générale Corporate and Investment Bank (SG CIB) reveals fresh job cuts in France in addition to planned job losses in Asia and the US.
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BTMU, Citi, SMBC and Sumitomo Trust and Banking Company are supporting Vietnam’s crucial Hai Phong to Hanoi expressway project under cover from Japan’s export credit agency Nexi.
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SMBC and the Japan Bank for International Cooperation (JBIC) have signed a cofinancing for a power supply project in Indonesia.
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While the US and Europe struggle, the Asia-Pacific region has prospered, propping up global prices for commodities across the spectrum from metals and minerals to food and cooking oils. Graeme Burton examines the scene.
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Export credit agencies EFIC, Sace and EDC commit to Santos’ Gladstone liquefied natural gas project in Queensland, Australia.