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Global

  • March

    CGI rebrands trade platform 10 March 2010

    CGI Group has rebranded its trade finance platform known as Proponix360 to CGI Trade360.

  • Export credit agencies ranked 02 March 2010

    The top 38 export credit agencies have been ranked by BExA according to the different products they offer their exporters.

  • February

    Trafigura revolver set for oversubscription 26 February 2010

    Commodities trader Trafigura has attracted a considerable oversubscription on its jumbo revolver but remains weeks away from closing a deal.

  • Tatneft set to mandate banks for PXF 25 February 2010

    Russian oil producer Tatneft is set to mandate banks this week for a jumbo pre-export financing revolver.

  • World trade suffers 65-year record drop 25 February 2010

    World trade has experienced the largest single drop since the Second World War, according to the World Trade Organisation.

  • Nast joins StanChart transaction banking team 23 February 2010

    Standard Chartered Bank has appointed a new global head of product management for its transaction banking business.

  • Noble reports record volumes for 2009 23 February 2010

    Commodities trader Noble Group has announced high revenues and record group tonnage volumes for 2009.

  • OECD head to be US Ex-Im meet keynote 19 February 2010

    Angel Gurría, secretary-general of the OECD, will deliver a keynote address at the Export-Import Bank of the United States (US Ex-Im) 2010 Annual Conference.

  • JPMorgan acquires RBS Sempra 17 February 2010

    JPMorgan has acquired RBS Sempra Commodities' global assets leaving just the firm’s North American natural gas and power business.

  • GTLP nears the billion mark 17 February 2010

    As the IFC’s Global Trade Liquidity Programme (GTLP) gets close to disbursing $1 billion, Dickon Harris spoke to German Vegarra, senior manager for global financial markets at the IFC, and Laura Mecagni, senior investment officer.

  • Interview: Jorge Tapia, Santander 17 February 2010

    Jonathan Bell talks with Jorge Tapia, global head of trade, export and commodity finance at Santander, based in Madrid, about the bank’s developments in the trade finance spectrum and its plans for the future.

  • Interview: Olivier Paul, BNP Paribas 17 February 2010

    BNP Paribas has once again topped the Dealogic trade finance league tables completing an impressive $11.9 billion worth of business. Dickon Harris catches up with Olivier Paul, the bank’s global head of export finance.

  • Providing better support for US exports 17 February 2010

    With US government attention focused on expanding exports, the role of the Export-Import Bank of the United States (US Ex-Im) has never been more important. Oliver O’Connell reviews how this is changing the export finance market.

  • Trade Finance – February 2010 17 February 2010

    Highlights from the February 2010 print edition of Trade Finance magazine.

  • ED&F Man revolver oversubscribes 16 February 2010

    London-based commodities broker ED&F Man Holdings has seen its jumbo revolver oversubscribe in syndication.

  • ICC announces Paris URDG seminar 15 February 2010

    For the first time since the adoption of the revised ICC Uniform Rules for Demand Guarantees (URDG), members of the drafting group will give a full public presentation on the new rules at a special seminar to be held in Paris on 18 March.

  • Bain Capital invests in The Receivables Exchange 08 February 2010

    A group of investors led by Bain Capital Ventures has completed a third round of investment for The Receivables Exchange, the online marketplace for the trading of accounts receivables.

  • Banks continue trade and cash consolidation 04 February 2010

    A survey by Misys reveals banks are consolidating their transaction and payment services within trade finance.

  • GTLP plans to launch food trade fund 04 February 2010

    The IFC’s Global Trade Liquidity Programme is set to launch a $1 billion agri-trade fund.

  • BNPP closes amended Mercuria revolver 02 February 2010

    BNP Paribas has closed an amended one-year revolver for energy trader Mercuria.

  • January

    Surecomp partners with Callataÿ & Wouters 28 January 2010

    Surecomp has agreed to partner with IT solutions provider Callataÿ & Wouters for a trade finance product.

  • JPMorgan set to acquire RBS Sempra 27 January 2010

    JPMorgan looks set to acquire base metals trader and broker RBS Sempra Commodities as it negotiates a deal.

  • Crisis easing says Coface 25 January 2010

    Coface has announced 20 country upgrades at its 14th country risk conference, claiming that the global financial crisis is easing, but warns of continuing bubbles.

  • Deutsche hires new STEF Asia head 25 January 2010

    Deutsche Bank has appointed a new head of head of structured trade and export finance Asia, and continues the search for a new head of Americas structured trade finance.

  • Export credit agencies to the rescue of trade finance 25 January 2010

    What saved trade from collapsing totally during the global crisis? This column argues that export credit agencies played a key role in stabilising the trade finance market, and thus helped reduce credit risks and allowed exporters to offer open account terms in competitive markets.

  • Export finance banks call for level playing field 22 January 2010

    Global heads of export finance from 13 leading banks gathered today in Paris to discuss issues that impact on the ECA-backed business line.

  • BAFT AND IFSA merge 19 January 2010

    Two trade bodies, the Bankers’ Association for Finance and Trade (BAFT) and the International Financial Services Association (IFSA), have now merged.

  • Legal warning: Trade finance in 2010 19 January 2010

    Dickon Harris approaches the sharpest legal minds in Trade Finance to find out what to expect in 2010.

  • Davos report fears infra funding gap 14 January 2010

    The World Economic Forum has highlighted the infrastructure funding gap as one of its top concerns as it publishes its report, Global Risks 2010, ahead of the Davos meeting.

  • GBI completes first Basel II benchmark 13 January 2010

    Global Business Intelligence has completed its first benchmark around Basel II capital allocations for trade finance.

  • TradeCard reports 10% growth in 2009 12 January 2010

    TradeCard, the supply chain collaboration platform, has reported 10% revenue growth in 2009.

  • Dealogic 4Q 2009 ECA finance league tables 12 January 2010

    Dealogic has released the full league tables for trade finance loans up to the end of 4Q 2009. Here are the ECA finance tables.

  • Dealogic 4Q 2009 trade finance league tables (excl bilaterals) 12 January 2010

    Dealogic has released the trade finance league tables for 2009. Here are the tables excluding bilateral loans.

  • Dealogic 4Q 2009 trade finance league tables (incl bilaterals) 12 January 2010

    Dealogic has released the trade finance league tables for 2009. Here are the tables including bilateral loans.

  • Dealogic Trade Finance Review 2009 12 January 2010

    Dealogic league tables for 2009 show global trade finance volume up 3% to $155.1 billion and 4Q 2009 reached a record of $45.9 billion.

  • SWIFT revitalises trade and supply chain 11 January 2010

    Under Andre Casterman, Swift’s trade and supply chain team are spearheading a renewed focus on trade for the cooperative in 2010.

  • Calyon goes live with Misys Trade Portal 06 January 2010

    Calyon has gone live with a new purchase order and invoice management system by software firm Misys.

  • Noble Group strengthens senior management 04 January 2010

    Noble Group announces high-level restructuring effective 1 January 2010.

  • IFC and Capacent study emerging market supply chain finance 04 January 2010

    IFC mulls role in supporting emerging market suppliers’ interest in supply chain finance solutions.

Poll

Gazpromneft stunned the market this week when it was revealed pricing for their five-year $1 billion pre-export financing was rumoured to be just above 300 basis points over Libor. Is the deal likely to be a syndication success?

Yes - this seems like a sensible pricing benchmark, why not?
9%
No - are you crazy? These prices are ridiculous. What were these banks thinking?
27%
Yes - but for all the wrong reasons. A lack of other deals in the market, and the promise of future business with Gazpromneft will make it hard to ignore but don’t expect many to take up big tickets with this deal. There are much better deals out there.
64%

Quote

Until credit sanctioners can escape from their investment grade comfort zone, they’ll never enable the full potential of an STCF approach to be felt.

Aidan Applegarth, independent banking consultant - Commodity banks bounce back, December 2009