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September
Chilean private sector power and natural gas producer and distributor Colbun has refinanced its outstanding trade finance debt.
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Erste Bank is expanding its structured trade finance unit in London with the hire of an experienced banker.
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Pemex has approached the syndicated loan market with both a three-year revolving credit facility and a five-year term loan.
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StanChart names senior banker in China to head the strategic client coverage group in origination and client coverage.
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A group of 32 banks has signed a trade revolver for Turkey’s VakifBank.
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Australia’s export credit agency Export Finance and Insurance Corporation has signed a capital guarantee to support Urban Art Projects’ expanding international operations.
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August
Standard Chartered Bank’s global head of structured trade finance is taking up a new role at the bank.
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UK steel trader Stemcor has returned to the syndications market with a $75 million revolving credit facility targeted at Asian lenders.
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Commonwealth Bank of Australia has opened its first branch in India.
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Citi and OPIC have signed a ten-year term loan to Banco Regional to support long-term finance for small and mid-sized enterprises in Paraguay.
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The Export Import Bank of the Unites States has signed a direct loan to Energía Eólica de Honduras to finance the Cerro de Hula wind farm, Honduras.
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Santander and WestLB launch senior syndication of secured trade loan for Brazil’s Bahia Cellulose.
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Bookrunners Credit Agricole, Erste Group Bank, RZB and UniCredit Group have signed a trade loan for Poland’s Bank Ochrony Srodowiska.
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A group of 52 banks have signed a jumbo trade loan for Turkey’s Akbank.
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The syndicated financing facility for Ukrainian agribusiness company Kernel Holding, led by ING Bank and UniCredit Bank, has signed oversubscribed.
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Sweden’s export credit agency EKN has guaranteed a loan for Econet Wireless Zimbabwe for telecom equipment from Swedish telecom corporation Ericsson.
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DBS Bank has made three senior additions to its global transaction services (GTS) business.
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Australia’s export credit agency EFIC is helping to finance Australian disaster film Panic at Rock Island.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK trade statistics.
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Noble Group has signed a refinancing to amend an existing guarantee facility and support the issue of standby letters of credit and other operational instruments.
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Banks have signed a trade deal for International Bank of Azerbaijan.
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The West now views Asia as central to the global economic recovery. Davy Kurniadi, Asia regional manager, Falcon Group, explores the future of trade finance in the region.
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July
Deutsche Bank has reported a 9% increase in its net income for the second quarter of 2010, driven partly by success in its trade finance and global transaction banking business.
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Lloyds TSB Corporate Markets’ West Midlands team has signed a flexible funding package for gearbox manufacturer ALLEN Gears to support its working capital requirements.
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International Finance Cooperation has signed a senior loan for Zambia National Commercial Bank to help increase access to finance for smaller entrepreneurs and agribusiness companies in the country.
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WestLB has created a transaction management department within global loan syndications to support and assist both pre and post-execution of WestLB led deals.
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Dutch development bank FMO is providing a loan to Priorbank for onlending to SMEs.
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Dealogic has released the full league tables for trade finance loans up to the end of 1H 2010. Here are the ECA finance tables.
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Dealogic has released the full league tables for trade finance loans up to the end of 1H 2010. Here are the trade finance tables excluding bilaterals.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the trade finance tables including bilaterals.
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Dealogic: Global trade finance volume down 39% to $51.7 billion; excluding bilateral loans, volume rose 42% year-on-year; BNP Paribas leads MLA ranking for syndicated trade financing.
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The Asian Development Bank has signed a loan to support clean energy projects in the Greater Mekong sub region and South Asia.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK trade statistics.
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UK firms need to exploit export opportunities in Asia says UK Secretary of State Vincent Cable.
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International Finance Corporation has signed an equity investment in Agri-Vie Agribusiness private equity fund to finance food and agribusiness companies in sub-Saharan Africa.
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The European Bank for Reconstruction and Development has signed a loan for the construction of the first coal washing plant in Mongolia, its largest investment in Mongolia to date.
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SG has closed a trade deal for China’s Henan HongKong Longquan Aluminium.
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The UK's Davenham Trade Finance has stopped writing new business and will wind down its loan book.
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Talvivaara Mining has signed a three-year revolving credit to finish the development of its nickel mine in central Finland.
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ABN AMRO Bank (ABN AMRO) and Fortis Bank (Nederland) (Fortis Bank Nederland) have completed their merger today.
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June
BNY Mellon been authorised by the China Banking Regulatory Commission (CBRC) to set up a banking branch in Beijing.
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The annual DHL Export Barometer survey shows that Australian companies are looking further afield to grow exports, but access to trade finance still an issue.
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The African Development Bank has signed a senior loan to fund South African logistics giant Transnet Freight Rail's capitalised rail maintenance plan.
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The Nigerian trade and export finance market is getting back on track following last year's banking shake-up.
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Falcon Trade Corporation gathered a select group of clients, speakers and business partners at its first annual trade and corporate finance forum in Dubai to discuss the global economic recovery and the role of specialised lenders.
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Bookrunner Rosemount Capital has signed a trade loan on behalf of Brazil’s Banco Pine.
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The European Bank for Reconstruction and Development, the European Investment Bank and the EU’s Neighbourhood Investment Facility have signed loans to modernise Moldova’s water system.
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Cellular telecommunications company MTN Nigeria has obtained Nigeria's largest ever Naira-denominated syndication from a consortium of 17 banks to extend its services across the country.
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Energy trader Mercuria has secured more than $1 billion as general syndication for its 364-day loan closed last week.
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The Export-Import Bank of the United States has signed a credit line for the government of Vietnam for high-priority infrastructure projects in Vietnam.
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The Export-Import Bank of Korea will increase its credit limit for Russian financial service provider Uralsib.
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World Trade Organisation’s Pascal Lamy calls for trade finance banks to back smaller producers in emerging markets.
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Creditors have agreed to accept a debt restructuring plan for Kazakhstan’s BTA Bank.
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London-listed Russian miner Petropavlovsk’s discussions with Industrial and Commercial Bank of China to fund its Kimkano-Sutarskiy iron ore mining operation are progressing well.
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National Australia Bank has hired four new people in Singapore, Hong Kong and Tokyo to expand its trade finance presence in Asia.
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Banks are getting ready to launch a one-year refinancing on behalf of commodities trader Noble Group.
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The European Bank for Reconstruction and Development has increased the financing available to the state Export-Import Bank of Ukraine to further support Ukrainian exporters and importers.
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The IFC is partnering with Russia’s Bank Saint Petersburg to expand access to trade finance for small and medium enterprises in the northwest region of Russia.
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The European Bank for Reconstruction and Development and Kazakhstan’s Kazyna Capital Management have invested in a restructuring fund to support the corporate sector.
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The Asian Development Bank has signed a loan to fund Garadagh Cement’s integrated cement plant in Azerbaijan, ADB's first ever private-sector infrastructure investment in the country.
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The Inter-American Development Bank is funding a programme to increase business productivity and competitiveness in Peru to facilitate the use of new free trade agreements.
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Industrial and Commercial Bank of China may provide financing, export credit and advisory services for Union Railway, a United Arab Emirates railway project.
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Australia’s Export Finance and Insurance Corporation has developed a new loan facility to help producers finance Australian film and television productions for international export and distribution.
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May
Turkey’s Isbank trade revolver closes oversubscribed.
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The SME Development Bank of Thailand has agreed to issue an additional funds to small and medium-sized enterprises.
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Allied Irish Banks (AIB) will begin a new scheme to boost lending to small and medium sized enterprises, as part of its recapitalisation agreement with the government of Ireland.
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Asian Development Bank has signed a grant to build a railway line that connects the Afghan city of Mazar-e-Sharif to Uzbekistan's expansive rail network and regional markets in Europe and Asia.
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The Export and Import Bank of India will open an East African office in Addis Ababa, Ethiopia.
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China-Africa Development Fund and China’s Jidong Development Group have announced a joint venture to build a cement manufacturing plant in Limpopo province, South Africa.
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Germany’s AKA Export Finance Bank has signed a credit line agreement with Vietnam’s Military Commercial Joint Stock Bank to fund the import of goods from Germany to Vietnam.
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Ivanhoe Mines has signed a mandate letter with IFIs and is selecting lead arrangers for a major financing package for the construction of a mining complex in southern Mongolia.
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The African Development Bank has approved financing for four new operations in Liberia, Cape Verde, South Africa and Burundi at a recent board meeting.
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BNP Paribas Fortis has signed a credit facility to digital cinema service company XDC to finance the integration of digital cinema in Europe.
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The African Development Bank has signed an equity investment in the African Agriculture Fund to support agri-companies operating on the continent.
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KfW IPEX-Bank is financing two RoPax ferries to be built by the German shipyard Volkswerft Stralsund for the German-Danish ferry operator Scandlines.
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IFC will provide a trade finance loan to Nepal Investment Bank through its Global Trade Finance Program to enhance its support for local enterprises and help boost international trade opportunities.
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As the EBRD celebrates ten years of the Trade Facilitation Programme (TFP), Dickon Harris looks at its continuing relevance to the market.
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Norway’s state export credit insurer is to receive additional funding from the Norwegian government to support the country’s maritime supply industry.
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China’s Huawei has signed a Sharia-compliant loan with Saudi Telecom Corporation’s Kuwait-based Viva to expand its network.
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Export-Import Bank of India has extended a credit line to the Government of Ghana to finance improved fish harvesting and waste management support projects in Ghana.
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Export-import bank of Korea has signed loan agreements for Uzbekistan’s Asaka Bank and National Bank of Uzbekistan for Foreign Economic Activity to finance investment projects.
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Turkey’s Garanti Bank has scaled back commitments for its one-year trade loan.
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Commodities trader Glencore has secured more than $10 billion in commitments for its latest revolving credit facility.
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Bankers believe Eurozone crisis will delay Turkey's Isbank’s latest trade revolver.
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The European Bank for Reconstruction and Development has offered a finance facility to cotton trading company ECOM to provide funding to cotton farmers in Tajikistan.
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The European Bank for Reconstruction and Development is to launch its new Western Balkans private sector support facility which will provide credit lines to local banks in the region.
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HSBC Bank Armenia greatly increased its volume of trade financing in 2009.
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Turkey’s Alternatifbank has seen its one-year dual currency revolver close today oversubscribed.
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Asian Development Bank will offer a revolving credit line to support trade financing for Azerbaijan’s Bank of Baku.
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A mega trade loan being arranged for Venezuelan oil producer PDVSA has closed following a successful general syndication.
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April
Asian Development Bank has signed two loan agreements with Azerbaijan’s AGBank to expand its revolver loan and support the development of entrepreneurship in Azerbaijan.
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Commodities trader Glencore has already secured more than $9 billion in commitments through general syndication for its revolving credit facility.
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Banks have launched general syndication for a multicurrency revolving loan for energy trader Mercuria.
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The ICC has revealed its revised version of the Uniform Rules for Demand Guarantees (URDG), rules which govern guarantees and counter-guarantees between importers and exporters. Dickon Harris speaks to two trade specialists about its strengths and weaknesses*.
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Gordon Hough has taken a new position at Wells Fargo as the bank rolls out its new trade finance structure across the legacy Wachovia offices in the Eastern US.
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Banks are still keen for Turkish FI risk as Turkey’s Yapi Kredi Bankasi signs a jumbo trade revolver.
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Mining company ENRC is considering trade finance as one option in its investment in expanding and upgrading its production facilities in Kazakhstan.
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The IFC has signed a loan to a partnership of the Mwalimu Nyerere Foundation and China’s CRJE Estate to finance a building complex in Tanzania.
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Bank UralSib has appointed a new chief financial officer in charge of financial planning and management, financial and management reporting and liquidity management.
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South Africa’s AngloGold Ashanti has signed an unsecured revolving credit facility with a club of banks – the largest deal in sub-Saharan Africa so far this year.
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Supply chains in the MENA region held fast while many broke down around it during the global financial crisis. Sam McManus explores the strengths, weaknesses and trends that define the region and why SMEs must beware the ‘bullwhip effect’.
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The Swedish Export Credit Corporation has signed an agreement with trade financer Northstar Europe to offer customer financing for small and medium sized Swedish enterprises.
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The Asian Development Bank has approved financing to build Central Asia's first 800 MW combined cycle gas turbine power plant to improve energy security and energy efficiency in Uzbekistan.
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Banks involved in trade finance and trade services report a continued climb out of the global financial crisis with trade provision leading the way. But what lessons have been learned and will the examination of trade finance lending lead to changes in practices? Michele Martensen assesses the scene.
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Raiffeisen International’s shareholders have been presented with a detailed merger plan between the bank and Austria’s RZB.
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Silicon Valley Bank and Zhone Technologies have renewed a credit facility for that supports the company's LCs and borrowing.
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Asian Development Bank has signed a loan for the People’s Republic of China to construct biogas plants and expand the use of biogas energy generated from waste materials.
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Standard Chartered has appointed a new group head of origination and client coverage (OCC).
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As Icelandic volcanic ash causes chaos for European air transport, Reed Smith’s trade team examines what impact travel disruption will have for international trade.
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International Finance Corporation will provide a loan and trade finance guarantee to Tutunska Banka to extend loans to small and medium enterprises in Macedonia.
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The European Bank for reconstruction and Development is providing a loan to Turkmenistan’s Biyat to finance the construction of a new CO2 generation plant.
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Silicon Valley Bank is applying for a UK banking licence with an eye on the SME trade finance market.
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Turkey’s Isbank plans to expand its operations in the former CIS and the Balkans.
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Russia’s mobile telecommunications provider MTS has signed a major new credit agreement with Bank of Moscow.
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Citi has been mandated by Vietnam National Coal Mineral Industries Group to arrange a term-loan facility to finance the Lam Dong Bauxite Alumina Project in Vietnam.
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Tanzania’s CRDB Bank has upgraded to Misys BankFusion Universal Banking as it looks to expand and automate its banking service.
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Credit Suisse has signed an export finance facility for Great Basin Gold to commence commercial production at the Burnstone mine in the Mpumalanga Province, South Africa.
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International finance institutions have established a regional recovery fund to invest in midsize companies facing financing difficulties in Central and Eastern Europe, Central Asia, and Turkey.
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The International Islamic Trade Finance Corporation has signed a trade finance agreement with the UAE’s Fujairah Cement Industries.
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The Japan Bank for International Cooperation has signed a loan for SKZ-U to construct a sulphuric acid plant in Kazakhstan. The acid produced will be used for Japanese uranium production.
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The European Bank for Reconstruction and Development has signed a credit line to Banca Sociala for on-lending to small and medium-sized enterprises in Moldova.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the ECA finance tables.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the trade finance tables excluding bilaterals.
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Dealogic has released the full league tables for trade finance loans up to the end of 1Q 2010. Here are the trade finance tables including bilaterals.
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Global trade finance volume down 55% to $20 biilion, ECA guarantees accounted for 24% of trade finance loan volume, and BNP Paribas leads the MLA rankings for global trade finance.
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Kazakhstan's Alliance Bank has completed its $4.5 billion restructuring, the first under Kazakhstan’s new “cram-down” restructuring legislation.
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The European Bank for Reconstruction and Development has signed a credit line to CIB Bank for on-lending to small and medium enterprises in Hungary.
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SEB has promoted its global head of trade finance to head of global transaction services corporates.
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The Japan Bank for International Cooperation has signed a project financing loan with Dutch P&M Drilling International to finance an ultra-deepwater oil drillship project in Brazil.
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The Trade Bank of Iraq has doubled the maximum value of letters of credit it allocates to the private banking sector in response to a strong increase in demand for cross-border trade finance in Iraq.
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March
The European Bank for Reconstruction and Development is providing a syndicated loan to wholly-owned subsidiary of Noble Group, Noble Hammadde Ticaret, a Turkish agricultural importer.
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The Japan Bank for International Cooperation has signed a buyer's credit agreement with PT. Telekomunikasi Indonesia to finance a high-capacity submarine optic-fibre cable system.
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International Finance Corporation has invested in equity and provided advisory support to help AccessBank Tajikistan to expand the availability of credit for micro and small enterprises in Tajikistan.
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International Finance Corporation has signed a financing agreement and a syndication agreement with Jordan Phosphate Mines Company to build a new phosphate export terminal.
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After the sharpest decline in more than 70 years, world trade is set to rebound in 2010 with 9.5% growth, according to World Trade Organisation economists.
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Banks have signed a trade loan for Turkish state-owned bank VakifBank.
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Akbank has seen its one-year revolver double in the syndications market.
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Société Générale and BTMU have closed a buyer credit loan, backed by Japan’s Nippon Export and Investment Insurance, on behalf of J. Lauritzen to buy six bulk carriers built by Japanese shipyards.
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The Japan Bank for International Cooperation has signed a loan agreement with ICICI Bank in India to support its trade finance.
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China Development Bank has signed a credit line to Russian state-owned Vnesheconombank to finance investment projects implemented within Russia.
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Catching up with Rusal’s director of capital markets, Oleg Mukhamedshin, is not always easy. But on a recent visit to London, he found time in between meeting trade bankers to have a chat with Jonathan Bell.
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The Japan Bank for International Cooperation has signed a loan with the government of Turkmenistan for the construction of the country's largest ammonia and urea fertilizer production plant.
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The European Bank for Development and Reconstruction and Bratislava-based Tatra banka have signed a loan agreement to improve Slovakia’s energy efficiency.
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The OPEC Fund for International Development (OFID) has signed a loan with Armenia’s Ardshininvestbank to support SME lending.
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The European Bank of Reconstruction and Development is providing a credit line to Banca Intesa Beograd for on-lending to small and medium enterprises in Serbia.
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The Japan Bank for International Cooperation has signed a loan agreement with the Korea Development Bank for the purchase of two Japan-built carriers by South Korea Shipping.
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The African Development Bank has approved loans to the Egyptian Refining Company for the construction of an oil refinery, part of the biggest project ever undertaken in Egypt.
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The European Bank of Reconstruction and Development has signed a synthetic loan to Finca Uco to boost the availability of local currency financing for micro and small enterprises in Armenia.
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Saudi Aramco Total Refining & Petrochemical Company has finalised the banking allocation for its jumbo ECA-backed Jubail refinery project in Saudi Arabia.
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Equinox and Lumwana sign loans to refinance existing project finance debt.
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The Japan Bank for International Cooperation has signed a loan with Kubota Saudi Arabia Company to build a petrochemical reactor tube manufacturing plant in Saudi Arabia.
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Deutsche Bank has made two appointments in its Indonesian global transaction banking and corporate banking team.
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The Royal Bank of Scotland plc (RBS) has appointed a new global head of the financial institutions group in its global banking and markets (GBM) division.
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Nigeria’s Skye Bank has signed a trade credit line with the Korean Export-Import Bank boost its trade and import operations.
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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.
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Export-Import Bank of China has signed a loan agreement to construct Mattala Airport and the Colombo-Matara Railway in Sri Lanka.
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The European Bank for Reconstruction and Development has approved a convertible loan to finance the completion of Petrolinvest oil exploration works in Kazakhstan.
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Al Jaber is planning to raise funds through export credit agency facilities and the bond market.
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Standard Chartered Bank has teamed with Chinese officials for a trade delegation to promote renminbi trade settlement in Malaysia, Thailand and Singapore.
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Deutsche Bank's has appointed a new regional head of trade finance and cash management for Germany.
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Standard Bank and the OPEC Fund for International Development have today signed an agreement to launch two African trade financing initiatives.
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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.
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The Australian Institute of Export (AIEx) has appointed a new national president.
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February
Australia’s export credit agency Export Finance and Insurance Corporation is financing manufacturer Footcare International to expand its overseas sales.
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The International Finance Corporation has recorded an 80% rise in the number of trade finance guarantees approved for Pakistan last year compared to 2008.
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The EBRD and Intesa Sanpaolo Group have created a financing package for small and medium enterprises in central and Eastern Europe.
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Citi and Deutsche Bank have signed a buyer credit for telecoms firm, Telefónica, backed by Swedish export credit agency EKN.
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Africa’s Export-Import Bank (Afreximbank) has unveiled a financing package for Zimbabwe’s gold and platinum mines.
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The European Bank for Reconstruction and Development is to provide financing to Leighton Mongolia to offer services for at least two Mongolian projects.
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Turkey’s Bank Asya has mandated banks to arrange a syndicated Sharia-compliant dual currency loan to fund its trade finance activities.
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PDVSA subsidiary Citgo Petroleum has amended a 2005 dual tranche revolving credit B-loan arranged by bookrunners BNP Paribas and JPMorgan.
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To protect its debt restructuring plan, Kazakhstan’s Alliance Bank has filed for chapter 15 bankruptcy to prevent US lawsuits.
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The Japan Bank for International Cooperation, with BTMU, have signed a buyer's credit agreement for Indonesia’s PT Pamapersada Nusantara.
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Highlights from the February 2010 print edition of Trade Finance magazine.
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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.
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Jordan has signed an extension line of credit agreement to increase a previous loan by the Arab Monetary Fund.
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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.
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London-based commodities broker ED&F Man Holdings has seen its jumbo revolver oversubscribe in syndication.
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Market comment: Antonio Alves, senior regional head of trade finance, Latin America and Caribbean region, IFC.
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Alexander R.Malaket explores the state of trade and trade finance in Mexico at a time when the country’s two Nafta partners are each dealing in their own way with the consequences of the crisis.
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The African Development Bank Group has signed a line of credit with Zambia National Commercial Bank.
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The Brunei Government will launch a financing scheme to help fund local small and medium enterprises expand into export markets.
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The Economic Community of West African States has signed a credit line to the Nigerian Export Import Bank.
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Companies based in Hong Kong can now issue renminbi bonds under new guidelines announced by the Hong Kong Monetary Authority.
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Davenham has agreed to a trade finance and invoice finance facility on behalf of Park Designs to provide additional working capital.
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Falcon Trade Corporation has appointed a new head of UK and European sales.
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The International Finance Corporation has held its first trade finance training seminar for Iraqi bankers in Beirut, Lebanon.
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The IFC’s Global Trade Liquidity Programme is set to launch a $1 billion agri-trade fund.
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January
IFC plans to buy up nonperforming loans in Central and Eastern Europe in cooperation with Varde Partners, a distressed debt and asset firm.
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Ildar Muslimov has been appointed the chairman of Bank Uralsib’s management board.
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Banks have signed a revolving trade credit facility for Luxemburg-based metal merchant wholesaler Tinfos Nizi.
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China Construction Bank has appointed two London trade finance executives as it expands its London trade finance team.
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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.
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Brazilian offshore operator Schahin has signed a debt restructuring for its Black Gold drilling vessels, to be chartered by Petrobras.
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HSBC has launched a $100 million fund specifically for UAE companies engaged in cross-border business.
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Dealogic has released the full league tables for trade finance loans up to the end of 4Q 2009. Here are the ECA finance tables.
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Dealogic has released the trade finance league tables for 2009. Here are the tables excluding bilateral loans.
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Dealogic has released the trade finance league tables for 2009. Here are the tables including bilateral loans.
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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.
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London-based commodities broker ED&F Man Holdings is in talks with banks as it seeks to grow its $1 billion plus revolving credit facility.
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Santander has named two regional UK trade finance directors.
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The Export Import Bank of India has signed a line of credit to Russia’s VEB.
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The development bank for the Netherlands, FMO, has signed its first loan in Kyrgyzstan to Kyrgyz Investment and Credit Bank.
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The US development bank, OPIC, has arranged a loan to Garanti bank for SME lending in Turkey.
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The Opec Fund for International Development has signed a loan with Amrahbank in Azerbaijan to increase the bank’s trade finance market coverage.
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The development bank for the Netherlands, FMO, has signed a $15 million term facility with Guaranty Trust Bank to boost export businesses in Ghana.
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German development bank, KfW, is refinancing the South American development bank, CAF.
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The Inter-American Development bank has arranged a loan to Chile’s Banco de Crédito e Inversiones for unbanked micro-entrepreneurs.
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The African Development Bank has signed its largest private-sector loan to date for United Bank for Africa for trade finance purposes.
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Bank of Moscow has seen its trade refinancing oversubscribe by $100 million.