TXF: 20 Minutes With

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

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.

Wilmar signs $100m ESG-tied loan; ICC welcomes new Centre for Digital Trade and Innovation; Rio Tinto investors vote against financial statements in climate protest

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 Government has released a policy paper that sets out its strategy for greater energy independence
Singapore-based Wilmar International has signed a three-year $100 million sustainability-linked loan with the Bank of East Asia
Rio Tinto received an alumina shipment from Russia's Rusal in late March, weeks after saying it was severing ties with Russian businesses over Moscow's invasion of Ukraine, an analysis of shipping data showed.
Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.

Tokio Marine says Greensill took out policies fraudulently; Kexim delays financing for Barossa gas field project; Biden orders ‘largest release of oil reserves in US history’

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:
Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said, adding it did not plan to pay out on the policies and would "vigorously defend" itself against any legal claims
US President Joe Biden has announced plans for what is said to be the largest release from the strategic petroleum reserves in American history of 1 million barrels a day for six months to lower gas prices at the pump.
The Export-Import Bank of Korea has put on hold its decision to provide financial support for the Australian Barossa-Caldita gas field project
Like what you hear? Hit subscribe to stay up to date and for all the latest news online visit www.txfnews.com today.