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ED&F Man expands revolver

12 January 2010

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.

Read more: [ED&F Man Holdings] [commodity brokers refinancings] [revolving credit facilities]

London-based commodities broker ED&F Man Holdings is in talks with banks as it seeks a $1 billion plus deal for its revolving credit facility.

The deal is still in its initial stages, and no final figure amount has been established, but it is believed that the firm will ask for one-year, two-year and three-year tranches...


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.
8%
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%

Quote

From a Brazilian perspective a lot of work still needs to be done in getting foreign lenders more comfortable to finance the second-tier players again.

Ian Henderson, Texel Capital - Brazil: Agri-sector bounces back - Trade Finance July/August 2010