TXF Podcast

Binh Thuan wind nears signing on DFI-backed loan; Petron out to banks for attractively priced term loan: Supplier finance in plain sight: What do the new FASB disclosure rules mean for our industry?

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:

• Sponsors of the 88MW Binh Thuan onshore wind farm in Vietnam — Filipino power producer ACEN (65%) and Vietnam-based BIM Group (35%) — are expected to sign the financing backing the scheme by month-end

• Philippine oil company Petron Corporation, the largest oil refining firm in the country, is testing bank appetite with a $550 million five-year term loan

• There is going to be a major change in the world of supply chain finance (SCF) next year that will bring more transparency to SCF programmes. TXF’s Katharine Morton asks, what do the new FASB standards mean for corporate suppliers and buyers and for investors? 

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Full bank syndicate revealed in Trafigura’s $800m loan backed by Euler Hermes; Year-end signing target for NEOM Green Hydrogen Project; Ras Laffan out to banks by year-end

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 financing of the Ras Laffan petrochemicals project in Qatar is expected to be out to banks later in 2022, according to a source familiar with the matter.

• The target for signing the project financing of the NEOM Green Hydrogen Project in Saudi Arabia is the end of 2022, according to sources familiar with the matter

• The $800 million loan underwritten and arranged for commodity trader Trafigura by Societe Generale (SG) which has been guaranteed by the government of Germany acting through its export credit agency (ECA) Euler Hermes under its untied loan programme –  is believed to be the largest untied ECA-backed loan to a single commodity trading company to date

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

FPSO financings near close on Korean ECA support; Cocobod annual PXF pricing to increase; Lake Resources to close Kachi lithium project funding next year

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 financings backing the procurement of three FPSOs – with backing from K-SURE and Kexim – are targeted to reach financial close early next year

• State-owned Ghana Cocoa Board (Cocobod) is in the market to refinance its annual Pre-Export Finance (PXF) facility in an otherwise muted Central and Eastern Europe Middle East and Africa (CEEMEA) syndicated loan market

• Australia-based Lake Resources is expected to close a roughly $600-800 million ECA-backed limited-recourse debt package to finance the construction of its flagship Kachi lithium project in Argentina in Q3 2023. 

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

Korea agrees $20bn defence deal with Poland; Lotte Chemicals to close $2bn ECA equipment loan; Further details emerge on ChemOne Group’s PEC project

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:

• KfW IPEX-Bank, together with Swedish Export Credit Corporation, has agreed ECA-backed financing for the construction of 1,000 drinking water boreholes with solar pumps in the Ivory Coast
• Argentina's Pampa Energia (Caa3/CCC+/B-) has extended over 80% of its next major international bond maturity after its decision to improve the terms of an exchange offer was enough to lure bondholders into participating
• Further details have emerged in relation to the $350 million financing for North American headquartered precious metals merchant Auramet Trading and Auramet International. The facility, led by ING Capital, has a one-year tenor and is structured as a revolving credit facility, details not previously released.

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

Ivory Coast signs ECA-backed drinking water project; Pampa Energia extends bond maturity; Further details emerge on Auramet $350m loan

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:

• KfW IPEX-Bank, together with Swedish Export Credit Corporation, has agreed ECA-backed financing for the construction of 1,000 drinking water boreholes with solar pumps in the Ivory Coast

• Argentina's Pampa Energia (Caa3/CCC+/B-) has extended over 80% of its next major international bond maturity after its decision to improve the terms of an exchange offer was enough to lure bondholders into participating

• Further details have emerged in relation to the $350 million financing for North American headquartered precious metals merchant Auramet Trading and Auramet International. The facility, led by ING Capital, has a one-year tenor and is structured as a revolving credit facility, details not previously released.

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

ECGC ups cover for small exporters; Big oil firms set to post record profit despite gas outages; Thiess targets Australia hard-rock mining sector expansion with MACA offer

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 Indian government’s export credit provider - Export Credit Guarantee Corporation (ECGC) - has introduced a new enhanced insurance scheme to cover up to 90% of export credit risk for small exporters under the Export Credit Insurance for Banks Whole Turnover Packaging Credit and Post Shipment scheme

• The world's largest energy traders, independents and majors, are poised to post record earnings for the first six months of the year due to volatility in markets caused by the Ukraine war and despite LNG supply problems, sources with the companies said

• Thiess looks like gaining further market share in the key hard-rock mining market of Western Australia after having a bid accepted for fellow mining contractor MACA

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

UK signs first US state-level agreement with Indiana; PBF extends RCF, availability rises to $4.3bn; Indian DFI to start operations in next quarter;

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 UK has signed its first state-level trade and economic development MoU with Indiana in the US

• The National Bank for Financing Infrastructure and Development, one of the key initiatives of the Indian government to fund long-term infrastructure projects, is set to commence operations in the second quarter of this fiscal year.

• Australia's Grow Finance has appointed David Keeling to the newly created position of senior partner within the structured finance and payments division.

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

Saudi Arabia to extend oil loan to Pakistan; IFC invests to promote Colombian green energy; #dltledgers 2.0 is unveiled

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:

• IFC is making a $10 million investment in the form of preferred equity in Vatia, a Colombian electricity retailer and aggregator, to improve access to cleaner energy, contributing to the country's climate commitments

• Saudi Arabia will extend an oil loan to Pakistan and is considering rolling over dollar deposits as the South Asian nation looks to rein in one of Asia’s highest inflation rates and stave off a current-account crisis

• Singapore-based fintech firm #dltedgers has released #dltledgers 2.0, an update to the expanded supply chain and digitization platform using blockchain technology. 

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Credit Suisse special audit backed by Norway’s wealth fund; IFC, Uzbekistan partner to develop wind power projects; UKEF appoints new head of business group

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:

• A top Credit Suisse Group investor is supporting a proposal for a special audit over the collapse of a group of supply chain finance funds the bank ran with now-defunct Greensill Capital

• IFC has signed an agreement to support Uzbekistan as it develops a series of utility-scale wind farms, helping the country transition towards clean energy and meet a growing demand for electricity

• UK Export Finance has appointed Tim Reid to lead its Business Group

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

World Bank plans $170bn financing to ease ‘multiple crises’; Glencore issues force majeure on DRC cobalt supply; EBRD’s first investment under new green financing facility in Turkey

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:

• EBRD is supporting Turkey’s transition to an environmentally sustainable, low-carbon and climate-resilient economy through new Green Economy Financing Facility in the country

• Glencore, the world's largest cobalt producer, is unable to fulfill contractual deliveries of cobalt hydroxide out of the Democratic Republic of Congo after severe flooding in South Africa hit warehoused goods and impacted logistics

• The World Bank is preparing a $170 billion package of financial help in response to the overlapping global crises of war, pandemic and inflation that are hitting the poorest countries particularly hard, its president has said

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