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Milestone for BES in structured trade
19 May 2010
On the fifth anniversary of the setting up of the Banco Espirito Santo (BES) structured trade finance (STF) team, Jonathan Bell went to meet the key personnel at the London offices of BES to find out how the business has evolved.
Read more:
BES structured trade
structured finance Banco Espirito Santo
Sonangol
PDVSA
Angola trade
Brazil ethanol
Portugal trade
Joao Batista (JB), global head, structured trade finance, Banco Espirito Santo (BES), based in Lisbon.
David Wightman (DW), director, structured trade finance, BES, based in London.
Andrew Robison (AR), director, structured trade finance origination, BES, based in London.
JB: We established the STF team back in July 2005 when David and Andrew joined BES with the aim of focusing on specific emerging markets – Brazil, Angola, where BES was present, as well as some other African countries and certain markets where BES has an interest.
Before the establishment of the BES STF group, BES had arranged a transaction with Angolan state-owned oil company Sonangol as part of a debt restructure aligned to the repayment of Angolan debt to Portugal. This was eventually rolled into the ‘Esperança’ Sonangol transaction of 2004. The success of this transaction was the catalyst for the formation of BES’ STF group.
The setting up of the STF...
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