Chinese banks take bulk of Nakilat 3 debt

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19 June 2009

Bank of China and China Exim have taken the lion’s share of the debt for Qatar Gas Transport Company’s Nakilat 3 carrier financing programme.

Bank of China and China Exim Bank have taken 49% of Qatar Gas Transport Company's Nakilat 3 debt financing that closed oversubscribed in May. The Chinese banks were looking for a combined majority take in the debt facility but have been scaled back.

The final list of 17 banks is Bank of China, China Exim, Al Ahli,...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%