EDC signs TransGlobe borrowing base

Copying and distributing are prohibited without permission of the publisher

30 July 2010

Canadian export credit agency EDC has joined SMBC and BNP Paribas to close a borrowing base facility for Calgary-based oil and gas exploration firm TransGlobe.

Banks have closed a $100 million borrowing base facility for Canadian oil and gas exploration firm TransGlobe Energy Corporation (TransGlobe.)

SMBC is the initial mandated...

You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.

Already have an account?

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Free trial

Taking a free trial will give you access to the current issue for two weeks (excluding some surveys and articles). Start your free trial today.

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%