TXF Podcast

FCA waits on SACE backing for €6.3bn Intesa loan; DFC unveils $4bn COVID-19 Rapid Response Liquidity Facility; Lundin Gold announces C$50m bought deal financing

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Italy’s Intesa Sanpaolo has approved a €6.3 billion ($6.9 billion) loan for Fiat Chrysler (FCA), subject to the car maker securing a guarantee from export credit agency SACE, a source said.

• Vancouver-headquartered Lundin Gold has announced a bought-deal financing with BMO Capital Markets for 4,150,000 common shares at C$12.05 for gross proceeds of C$50 million ($36.3 million)

• US International Development Finance Corporation (DFC) has approved the agency’s new Rapid Response Liquidity Facility, which will provide up to $4 billion in additional financing for existing DFC projects that have been particularly impacted by the Covid-19 pandemic.

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Trafigura takes a bet with North Sea oil on post-lockdown revival; UKEF may help finance Solidarity Transport Hub in Poland; EBRD agrees €40m Serbian SME financing to Eurobank

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• UKEF may help finance Solidarity Transport Hub in Poland

• Trafigura takes a bet with North Sea oil on post-lockdown revival

• EBRD agrees €40m Serbian SME financing to Eurobank and

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Montenegro receives commercial bank Covid-19 budget relief package; Kexim taps Australian bond market; and Uralkali signs $665m PXF

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Montenegro has received a €250 million ($274 million) syndicated loan from commercial banks to cover budget expenditures related to the measures adopted to limit the adverse effect of the coronavirus crisis

• The state-run Export-Import Bank of Korea has sold A$700 million ($460 million) of bonds in Australia as part of efforts to diversify its funding sources

• Russian potash producer Uralkali has signed a $665 million pre-export finance facility with 11 international banks

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Switch to e-bills of lading 'could save shipping industry $4bn a year'; Vale launches New York legal fight with BSG Resources; Airliners, shippers to benefit first from $33bn KDB COVID-19 fund

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• The container shipping industry could save itself up to $4 billion a year if half of all bills of lading (B/Ls) were dealt with digitally, according to the Digital Container Shipping Association (DCSA)

• Brazilian iron ore miner Vale has launched a legal action in New York to determine whether funds paid to BSG Resources within the framework of their former Simandou partnership in Guinea were used for property investments in the United State

• South Korea's government-led KRW40 trillion ($33 billion) corporate relief fund aimed at helping companies weather the COVID-19 pandemic crisis will first go to aid airliners and shippers with minimum debt of KRW500 billion ($407.5 million) and payroll of 300.

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Traxys signs $1.287bn syndicated RCF; Natixis to withdraw from shale oil and gas, hastens coal exit; CDC reveals record levels of trade finance to Afirca

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Natixis has announced that it will no longer finance projects dedicated to shale oil and gas exploration and production

• Traxys, the Luxembourg-headquartered metals and natural resources trader and merchant, has signed a $1.287 billion multi-currency syndicated revolving credit facility

• CDC Group, the UK’s development finance institution, has announced a record month for its trade guarantee programme

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ADB's 2019 operations reached $33.74bn; Cofco set to up purchase of US farm goods; and EU approves Danish guarantee scheme for trade credit insurance market

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• ADB's 2019 operations reached $33.74bn

• China is set to speed up purchases of US farm goods and will implement the Phase 1 trade deal with the US, state-owned agriculture trading house COFCO said

• The European Commission has approved a Danish guarantee scheme to support the trade credit insurance market in face of the coronavirus outbreak

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Trafigura 'merging China oil operations in new Shanghai trading desk'; Vestas makes senior appointments; and EIB, Banque du Caire provide $100m to finance Egyptian SMEs

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Swiss commodities merchant Trafigura plans to merge its three-year-old crude oil marketing office in Qingdao, in east China’s Shandong province, with an oil desk being set up in Shanghai, sources said

• Japan has announced a list of its firms subject to tighter foreign ownership rules, including majors such as Toyota Motor Corp and Sony Corp, as the United States and Europe step up scrutiny of industries key to national security

• The European Investment Bank has signed a financing agreement of $100 million with Banque du Caire to finance the investments of Egyptian small and medium-sized enterprises in the manufacturing and services sectors

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Traydstream signs trade finance partnership with Infosys Finacle; World Bank says mineral production to soar as demand for clean energy rises; OPEC Fund signs $20m loan to support SMEs in Uzbekistan

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Fintech group Traydstream has teamed up with Infosys Finacle, part of EdgeVerve Systems

• The production of minerals, such as graphite, lithium and cobalt, could increase by nearly 500% by 2050 to meet the growing demand for clean energy technologies, according to a new World Bank report,

• London-based British Arab Commercial Bank (BACB) has appointed Africa trade finance expert David Oberheim as its new director of Anglophone Africa

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Trader Phoenix 'goes into liquidation due to coronavirus'; Italian companies ask for $20bn in state-guaranteed loans, says SACE; and Citi names new head of HK treasury and trade

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Phoenix Commodities Pvt, a trader of agricultural products with offices in Dubai and Singapore, is being liquidated after amassing more than $400 million in potential trading losses, according a document prepared by the liquidators

• Large Italian companies have requested €18.5 billion in state-guaranteed loans to weather the coronavirus crisis, state-backed export credit agency SACE said.

• Citi has named Vishal Kapoor as the new head of its Treasury and Trade Solutions unit in Hong Kong - its largest APAC market in the space.

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Credendo reveals record 2019; Bunge reports Q1 loss as agribusiness takes a hit; Newmont's profit surges on higher production, rise in bullion prices

In today's daily round-up of export, trade and commodity finance news, TXF's Max Thompson covers the latest stories and trends across the market:

• Credendo reveals record 2019 but warns of challenging 2020 amid COVID-19 crisis; 

• US-based gold miner Newmont Corp’s adjusted profit nearly doubled, boosted by higher production and a surge in the prices of the precious metal, as investors rushed to the safe-haven asset amid market turmoil caused by the COVID-19 outbreak.

• US-based agricultural commodities trader Bunge reported a quarterly loss compared with a year-ago profit, impacted by a $385 million charge in its agribusiness segment

Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.