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September
GIEK has issued a guarantee for a loan to Polarcus Asima in connection with the delivery of the seismic research vessel Polarcus Asim from Dubai Drydocks.
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UK trade finance provider Bibby Financial Services has appointed a new business development manager for trade and international finance for the South East.
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Sberbank and German export credit consortium AKA Bank have signed a revised version of an agreement to finance exports into Russia.
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Swiss export credit agency Serv is to expand its support to exporters in French speaking Switzerland by opening a branch office in Lausanne, Switzerland.
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IFC has signed a loan to Turkey’s Sisecam Group’s subsidiary in Bosnia and Herzegovina, Sisecam Soda Lukavac.
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The European Bank for Reconstruction and Development has signed a loan to KCM, the largest lead and zinc smelter in Bulgaria, to co-finance its modernisation programme.
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August
Noa Factoring has declared bankruptcy prompting German regulator Bafin to close its Frankfurt-based parent Noa Bank.
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The United Kingdom has appointed a trade adviser to the UK Prime Minister to help lead a cross-government effort to develop and improve its trade agenda.
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Mehmet Saydam, previously with Deutsche Bank, has moved to Goldman Sachs.
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Romanian aluminium producer Alro has signed a refinancing package under an EBRD A/B loan structure.
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ING Commercial Banking has appointed a new global head of trade finance services to be based in Amsterdam.
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Trade credit insurer Atradius has appointed a new head to expand its London special products team.
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Luxembourg export credit agency Ducroire Luxembourg is to provide export-credit insurance to complement insurance policies taken out with private insurance companies.
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Lloyds Banking Group has signed a trade finance facility for Spooner Industries to deliver their export order for the supply of drying equipment for the paper industry to the Philippines.
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Bookrunners Credit Agricole, Erste Group Bank, RZB and UniCredit Group have signed a trade loan for Poland’s Bank Ochrony Srodowiska.
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A group of 52 banks have signed a jumbo trade loan for Turkey’s Akbank.
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Gatehouse Bank, a Shariah compliant wholesale investment bank, has appointed Irfan Afzal as head of structured trade finance and syndication to its team in London.
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HSH Nordbank makes a new position and appoints head of export and trade finance.
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Satellite operating company Iridium reports commitments in excess of $1.8 billion.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK trade statistics.
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Satellite communication company Inmarsat is pursuing backing by the Export-Import Bank of the United States to cover its three-satellite contract with Boeing Space and Intelligence Systems.
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Korea Export Insurance Corporation (KEIC) has changed its name to Korea Trade Insurance Corporation( K-sure) and will begin covering commodity imports in addition to exports.
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The EBRD has launched general syndication for an A/B loan to support Romanian aluminium producer Alro.
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Barclays Corporate has made four senior appointments to its cash and trade team.
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The EBRD has signed a credit line with Romania’s Millennium Bank Romania for on-lending to small and medium-sized enterprises (SMEs).
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Turkey’s Garanti Factoring has reported 20% profit increase for the first half of 2010.
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IT networking and communications services distributor Westcon Group has signed a new invoice financing deal with HSBC Invoice Finance..
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July
Export Development Canada is providing financing for the export of Bombardier aircraft to Deutsche Lufthansa.
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IFC has signed an agribusiness loan with Serbia’s Société Générale Banka Srbija.
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Trade credit insurer Atradius has increased additional cover in the retail sector across the UK.
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UK export credit agency ECGD's support for exporters increased this year by 51%, driven mainly by export orders of Airbus aircraft.
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The European Bank for Reconstruction and Development is launching the first ever facility to improve funding for agribusinesses and the use of warehouse receipts in Serbia.
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Lloyds TSB Corporate Markets’ West Midlands team has signed a flexible funding package for gearbox manufacturer ALLEN Gears to support its working capital requirements.
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US Ex-Im and Turkey Ministry of Energy and Natural Resources sign MoU to cooperate in financing US exports to Turkey, creating US jobs.
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The European Bank for Reconstruction and Development has signed a loan to the Slovenian state-owned Termoelektrarna Šoštanj thermal power plant to co-finance its modernisation programme.
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US Ex-Im-backed Northstar financing clinches the sale of US recycling technology to Turkey.
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Crédit Agricole has launched a new supply chain product, OPTIM Trade Open Account Portal.
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WestLB has created a transaction management department within global loan syndications to support and assist both pre and post-execution of WestLB led deals.
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Insufficient access to working capital will leave many European firms unable to take advantage of the economic upturn, says new Demica report.
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UK trade finance provider Bibby Financial Services has signed an export factoring facility to Bruno Commodities, a UK-based importer and exporter of edible nuts and dried fruit.
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ANZ has appointed two new executives to strengthen its global structured asset and export finance team.
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Bookrunner HSBC Trinkaus has closed a revolving trade finance borrowing base facility for metals trader Nizi International.
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International law firm Reed Smith has appointed four new partners to its energy, trade and commodities group in London.
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HSBC has completed its first UK cross-border renminbi (RMB) trade settlement transaction for the UK hand and garden tool business Neill Tools Limited.
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Dutch development bank FMO is providing a loan to Priorbank for onlending to SMEs.
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MLAs appointed as Noble Group seeks to extend the size and maturity of its existing trade revolver.
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Credit insurer Euler Hermes is to launch a new service through a new credit insurance solutions department dedicated exclusively to major exporters.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK trade statistics.
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UK firms need to exploit export opportunities in Asia says UK Secretary of State Vincent Cable.
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International finance company Barrett Trade & Finance Group has completed a US Ex-Im backed financing arrangement for US equipment purchase to help clean up oil pools in Romania.
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The European Commission has authorised a Hungarian export credit insurance scheme to support local exporting firms.
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Trade credit insurer Atradius is to release extra credit to small and medium-sized enterprises in the UK.
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The Specialised Financial Court of Almaty has approved the restructuring plan of Kazkakhstan’s BTA Bank.
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Russian mobile operator Mobile TeleSystems has obtained an export credit line from BNP Paribas, Credit Agricole, and Société Générale.
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KME Group, the pan-European copper producer, has signed a new credit line with a pool of banks.
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The UK's Davenham Trade Finance has stopped writing new business and will wind down its loan book.
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Talvivaara Mining has signed a three-year revolving credit to finish the development of its nickel mine in central Finland.
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ABN AMRO Bank (ABN AMRO) and Fortis Bank (Nederland) (Fortis Bank Nederland) have completed their merger today.
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June
The Inter-American Development Bank and Italian export credit agency Sace have signed an agreement to strengthen their collaboration.
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London Forfaiting Company has expanded its team with three new staff members.
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The US Department of Agriculture’s Commodity Credit Corporation has approved the Bulgarian Development Bank to participate in its Export Credit Guarantee Programme.
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The Asian Development Bank is planning financing to support energy efficiency and renewable energy development initiatives in the Philippines.
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Brazilian state oil company Petrobras has secured a framework agreement from the Norwegian Guarantee Institute for Export Credits (GIEK).
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Swedish automotive products maker Autoliv has secured two new revolving credit facilities.
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Bolero has signed an agreement with Lloyds TSB Corporate Markets which will allow the bank unrestricted use of Bolero’s multi-bank collaborative trade finance service.
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The EBRD has launched a new financing facility for Turkish banks to on-lend to Turkish micro, small and medium enterprises (MSMEs).
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Alexander Malaket moderates a roundtable discussion held in Stockholm and hosted by BNY Mellon Treasury Services (EMEA).
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Dickon Harris talks to Lars Millberg, SEB’s head of GTS Corporates, on today’s market, the bank’s recent merger of its cash and trade business, and why it is good to be an emerging market bank.
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Energy trader Gunvor International has scored a syndication success and is expected to take the full amount of its oversubscribed trade revolver.
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Dickon Harris examines how Nordic export credit agencies are reacting to the first steps of a global recovery.
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Banks are close to signing a pre-export financing for Ukrainian steelmaker Metinvest.
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Photos are now online for Euromoney Seminars and Trade Finance Magazine’s 7th Annual Global Commodities Conference.
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There has been a growth in receivables-based financing in Europe according to a report released by Demica.
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Alcatel-Lucent has renewed its overall agreement with Office National Ducroire Delcredere, the Belgian Export Credit Agency.
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Syndication is expected to close this week for state-owned Egyptian General Petroleum Corporation’s jumbo pre-export financing.
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The Royal Bank of Scotland’s global transaction services has appointed an ex-ABN AMRO banker to its newly created role of trade finance sales head for EMEA.
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ABN AMRO and Fortis Bank Nederland have strengthened their network with a new office in Athens.
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Aircrafter leaser Aircastle Limited is set to receive debt financing for seven new Airbus A330 aircraft from a group of European export credit agencies (ECAs).
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Energy trader Mercuria has secured more than $1 billion as general syndication for its 364-day loan closed last week.
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Russian oil producer Tatneft will have to scale back bank commitments as it finalises details on its jumbo pre-export financing revolver.
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GIEK has issued a bond guarantee to support a sale by OceanSaver to fit purification systems into three ships.
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The European Investment Bank has signed a loan facility with DONG Energy to finance the construction of the London Array offshore wind farm.
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Dutch agricultural bank Rabobank has agreed a strategic partnership with state-owned rural lender Agricultural Bank of China.
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The International Chambers of Commerce has announced a new chair of the ICC Commission on Taxation, which opposes tax obstacles to cross-border trade and investment.
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Iridium Communications selects Thales Alenia Space for next-generation satellite constellation with 95% guarantee from French export credit agency Coface.
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May
Law firms Denton Wilde Sapte, based in the UK, and US-based Sonnenschein Nath and Rosenthal are considering merging to form a new firm - SNR Denton.
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Turkey’s Isbank trade revolver closes oversubscribed.
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The British Exporters Association has delivered its trade manifesto to the recently-elected UK government.
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Romanian export credit agency, Eximbank of Romania, has agreed to offer its exporters credit for financing exports through trade receivables and invoices.
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Law firm Watson, Farley & Williams has hired a new London partner in its international project and structured finance group.
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Allied Irish Banks (AIB) will begin a new scheme to boost lending to small and medium sized enterprises, as part of its recapitalisation agreement with the government of Ireland.
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Germany’s AKA Export Finance Bank has signed a credit line agreement with Vietnam’s Military Commercial Joint Stock Bank to fund the import of goods from Germany to Vietnam.
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Roger Jones has stepped down today after 18 years as chair of the ICC UK Committee on Banking Technique & Practice.
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European accounts receivable financier GE Capital has acquired RBS Factor, RBS’ factoring business in France.
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BNP Paribas Fortis has signed a credit facility to digital cinema service company XDC to finance the integration of digital cinema in Europe.
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KfW IPEX-Bank is financing two RoPax ferries to be built by the German shipyard Volkswerft Stralsund for the German-Danish ferry operator Scandlines.
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While the Turkish bank syndication market goes from strength to strength, the country is striving to increase its exports into the markets of Africa and the Middle East. Sam McManus speaks to the people on the ground.
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Most active TFP issuing banks and confirming banks in 2009 by number of transactions.
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By Rudolf Putz, head of Trade Facilitation Programme, EBRD.
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As the EBRD celebrates ten years of the Trade Facilitation Programme (TFP), Dickon Harris looks at its continuing relevance to the market.
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Norway’s state export credit insurer is to receive additional funding from the Norwegian government to support the country’s maritime supply industry.
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The EBRD is providing a trade financing facility to Raiffeisenbank Austria to support Croatian exporters.
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French export credit agency Coface has underlined its commitment to satellite projects by agreeing to guarantee a contract to launch Hughes Communications’ Jupiter satellite.
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Belgian export credit agency ONDD has acquired a 33% stake in Austrian credit insurer Garant.
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Turkey’s Garanti Bank has scaled back commitments for its one-year trade loan.
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Commodities trader Glencore has secured more than $10 billion in commitments for its latest revolving credit facility.
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Bankers believe Eurozone crisis will delay Turkey's Isbank’s latest trade revolver.
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Australian export credit agency EFIC has launched a new website to help Australian small and medium-sized exporters.
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UK SMEs have experienced a “better-than-expected” rise in export orders, thanks to the relative weakness of Sterling according to a survey conducted by business lobbyist the Confederation of British Industry (CBI).
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The Prime Minister of the Czech Republic has been appointed by the European Bank for Reconstruction and Development as vice president, operational policies.
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Credit insurer Euler Hermes Switzerland has appointed a new managing director with effect from 1 May.
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The European Bank for Reconstruction and Development is to launch its new Western Balkans private sector support facility which will provide credit lines to local banks in the region.
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Toronto-Dominion Bank finances Boeing export credit-backed deal for Turkey’s SunExpress airline.
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Banks have launched general syndication of a revolver on behalf of energy trader Gunvor International.
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Steel trader Stemcor has scored a syndication success with both its revolving credit facility and two-year forward start facility closing yesterday oversubscribed.
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Legal firm Denton Wilde Sapte has appointed trade finance partner Jonathan Solomon to its senior partnership.
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HSBC Bank Armenia greatly increased its volume of trade financing in 2009.
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China’s Sinosure and Norway’s Giek have joined forced to back the construction of a drilling vessel to be built by Norway’s Sevan Marine.
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Turkey’s Alternatifbank has seen its one-year dual currency revolver close today oversubscribed.
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Insurance broker Arthur J. Gallagher UK has acquired “a substantial amount” of UK’s FirstCity Partnership Limited including its insurance and reinsurance business.
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April
Insurance broker Marsh has launched a trade credit practice for Europe, the Middle East and Africa.
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Steel trader Stemcor Holdings looks likely to score an oversubscription for its forward start facility and revolving credit loan presently in the market.
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Norwegian export credit agency GIEK is to receive a boost to help the country’s key shipbuilding and offshore equipment industries.
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Commodities trader Glencore has already secured more than $9 billion in commitments through general syndication for its revolving credit facility.
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Banks have launched general syndication for a multicurrency revolving loan for energy trader Mercuria.
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Citi has appointed a prepaid sales head for Europe,Middle East and Africa as part of its global transaction services team.
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Banks are still keen for Turkish FI risk as Turkey’s Yapi Kredi Bankasi signs a jumbo trade revolver.
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Denton Wilde Sapte has promoted one of its trade finance lawyer to managing associate.
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Santander has named its new Madrid-based head of energy commodities.
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BNP Paribas’ global transaction banking division is rolling out a new integrated platform that will combine its supply chain financing and cash management business platforms.
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Société Générale Corporate & Investment Banking has created a new specialised trade and commodity financial services team in Geneva.
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As Central and Eastern Europe stabilises following the aftermath of the crisis Dickon Harris examines how trade finance solutions are helping speed a recovery.
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The Swedish Export Credit Corporation has signed an agreement with trade financer Northstar Europe to offer customer financing for small and medium sized Swedish enterprises.
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The European Bank for Reconstruction and Development’s president has proposed that the Prime Minister of the Czech Republic be appointed EBRD vice president.
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Raiffeisen International’s shareholders have been presented with a detailed merger plan between the bank and Austria’s RZB.
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Credit insurer Coface UK & Ireland, in association with CreditPal and Graydon, has launched a new initiative to help businesses update and ultimately improve the accuracy of their credit rating.
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As Icelandic volcanic ash causes chaos for European air transport, Reed Smith’s trade team examines what impact travel disruption will have for international trade.
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Independent trade credit broker RK Harrison Financial Risks has appointed a new regional premier client director.
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International Finance Corporation will provide a loan and trade finance guarantee to Tutunska Banka to extend loans to small and medium enterprises in Macedonia.
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The UK’s Gatehouse Bank has signed a Memorandum of Understanding (MoU) with the Association of Islamic Banking Institutions Malaysia (AIBIM) to standardise Islamic interbank documentation.
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Standard Chartered Bank has signed a bilateral loan facility with the UK’s Bibby Offshore Limited to acquire a diving support vessel from Norway’s Volstad Subsea.
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Silicon Valley Bank is applying for a UK banking licence with an eye on the SME trade finance market.
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Turkey’s Isbank plans to expand its operations in the former CIS and the Balkans.
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Kuwait’s Arab Investment and Export Credit Guarantee Corporation has signed a letters of credit confirmation insurance contract with Malta-based trade finance banking group FIMBank.
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The Association of British Insurers has released the trade credit insurance statistics for the UK for 2009.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK Trade Statistics.
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International finance institutions have established a regional recovery fund to invest in midsize companies facing financing difficulties in Central and Eastern Europe, Central Asia, and Turkey.
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Turkey’s Bank Asya has seen its Sharia-compliant dual currency loan oversubscribe by more than three times in the syndications market.
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UK export credit agency ECGD is supporting a Sovereign Star Trade Finance-arranged deal for a Turkish recycling centre to buy a turbine system.
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SEB has promoted its global cash head to lead its global transaction services.
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International insurer ACE Global Markets has today announced new appointments to its trade credit teams in London and New York.
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Bank of the West is financing the export of paving equipment to the Czech Republic with medium term insurance from US Ex-Im.
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The Netherlands Development Finance Company has revealed a 25% growth in profit in 2009 compared to the previous year.
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The European Bank for Reconstruction and Development has signed a credit line to CIB Bank for on-lending to small and medium enterprises in Hungary.
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SEB has promoted its global head of trade finance to head of global transaction services corporates.
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Romanian bank Bancpost has joined the International Finance Corporation’s Global Trade Finance Programme as an issuing bank to expand its trade finance operations in Romania.
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March
In its latest equipment purchase, Russian mobile operator MTS has closed a financing deal with Crédit Agricole and BNP Paribas.
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The European Bank for Reconstruction and Development is providing a syndicated loan to wholly-owned subsidiary of Noble Group, Noble Hammadde Ticaret, a Turkish agricultural importer.
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Standard Chartered Bank has signed a bilateral loan facility with the UK’s Bibby Offshore Limited to acquire a diving support vessel from Norway’s Volstad Subsea.
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WestLB is strengthening its global energy infrastructure team with hires in Madrid and Sydney.
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Similar to the US’s National Exports Initiative, the German government is also enhancing the support it provides to exporters.
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Norwegian export credit institution Eksportfinans has closed its three year global bond issuance.
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Banks have signed a trade loan for Turkish state-owned bank VakifBank.
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UK invoice and asset based lender Venture Finance has arranged a factoring package for plumbing supplier Haines Distribution.
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Financial services firm GE Capital has acquired Royal Bank of Scotland’s factoring and invoice financing business in Germany.
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Akbank has seen its one-year revolver double in the syndications market.
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Banks have launched a new revolving credit facility and forward start facility for steel trader Stemcor.
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Commodities trader Trafigura has increased its jumbo revolver after attracting an oversubscription in the syndications market.
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UK factoring and invoice discounting firm Ultimate Finance Group has announced it will begin to offer trade finance.
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The European Bank for Development and Reconstruction and Bratislava-based Tatra banka have signed a loan agreement to improve Slovakia’s energy efficiency.
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Zinc producer Nyrstar has scaled back commitments on its debut borrowing base facility.
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The European Bank of Reconstruction and Development is providing a credit line to Banca Intesa Beograd for on-lending to small and medium enterprises in Serbia.
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Italy-based shipbuilder Fincantieri has signed a three-year reverse factoring agreement with Italian Bank BNL, and its factoring company Ifitalin.
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SEB’s online trade finance forum, the Benche, is expanding to cover cash management.
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Law firm White & Case has appointed two new partners specialising in project and trade finance.
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Standard Chartered has signed two pre-delivery payments facilities with Tiger Airways to pay for the delivery and purchase of aircraft from Airbus.
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Barclays Corporate’s global cash and trade division has appointed a new head of liquidity management.
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A total of 26 banks have closed a multi-billion euro ECA-backed debt package for Phase 1 of the Nord Stream pipeline.
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The European Commission has authorised a measure adopted by Slovenia to provide short-term export credit insurance cover to the private market.
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The Royal Bank of Scotland plc (RBS) has appointed a new global head of the financial institutions group in its global banking and markets (GBM) division.
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Sace has approved a guarantee as part of a jumbo VEB-led project financing to build a dehydrogenation plant for Russian petrochemcial firm Sibur.
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The European Bank for Reconstruction and Development has approved a convertible loan to finance the completion of Petrolinvest oil exploration works in Kazakhstan.
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The German government has extended its export credit refinancing aid scheme for long-term export credit for a further six months.
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Erste Group Bank’s structured commodity and trade finance head has retired after 15 years at the bank.
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A British Chambers of Commerce survey finds that UK exporting businesses are still experiencing severe difficulties securing essential export trade finance.
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Comment from Iain MacDonald, head of trade product, Barclays and the British Chambers of Commerce following the release of today's ONS UK Trade Statistics.
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A debut borrowing base facility for zinc producer Nyrstar has closed “massively” oversubscribed.
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Bank of America Merrill Lynch has named a new regional treasury executive for Europe, the Middle East and Africa.
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Deutsche Bank's has appointed a new regional head of trade finance and cash management for Germany.
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Belgium’s Izola Bank is planning a bond issue this month to increase its factoring business.
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ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.
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The EBRD has signed a trade financing to Byblos Bank Armenia, which will include a local currency element, a first for an EBRD financing in Armenia.
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The EBRD has signed a trade loan to Ameriabank for on-lending to Armenian companies under its medium sized co-financing facility (MCFF).
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Amsterdam Trade Bank has signed a 10-year licence with software firm Misys for its core banking system Misys BankFusion Equation.
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Austria’s Oberbank has selected SmartStream Technologies’s TLM Trade Finance to create a single platform for its cross-border and domestic business.
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Citi names veteran transaction banking specialist to head up the industrials sector for corporate clients in EMEA.
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The EBRD, the European Investment Bank Group, and the World Bank under a joint IFI Action Plan have supplied over Eu19 billion to support banks in central and Eastern Europe during 2009.
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US Ex-Im and Hexim have agreed to co-guarantee the sale of a gas turbine generator from GE Energy to a power plant located in Povazska Bystrica, Slovakia.
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February
Commodities trader Trafigura has attracted a considerable oversubscription on its jumbo revolver but remains weeks away from closing a deal.
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Banks have signed a jumbo club deal for oil trader Vitol.
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The EBRD and Intesa Sanpaolo Group have created a financing package for small and medium enterprises in central and Eastern Europe.
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The European Commission has charged UniCredit with carrying out a large portion of the Commission's SEPA payments.
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Citi and Deutsche Bank have signed a buyer credit for telecoms firm, Telefónica, backed by Swedish export credit agency EKN.
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A debut borrowing base facility for zinc producer Nyrstar is proving popular in the syndications market and looks likely to hit its target amount say bankers close to the deal.
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The European Bank for Reconstruction and Development is to provide financing to Leighton Mongolia to offer services for at least two Mongolian projects.
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The British Exporters Association (BExA) has launched a manifesto detailing a list of changes it wishes to see in the way that the UK government supports exports.
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Garanti Factoring has reported a 42% increase in earnings over 2009.
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The new CEO for Swiss Islamic specialist Faisal Private Bank has revealed the bank is actively building a trade finance arm.
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Turkey’s Bank Asya has mandated banks to arrange a syndicated Sharia-compliant dual currency loan to fund its trade finance activities.
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Serbia’s state-owned Srbijagas has received an EBRD sovereign loan that will finance the upgrade of its gas transmission network as well as repay its short-term loans.
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The Export Credit Guarantee Corporation of India is to maintain its credit risk rating for European countries in danger of sovereign defaults.
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German export credit agency Euler Hermes has created a new market management, marketing, commercial and distribution division.
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JPMorgan has acquired RBS Sempra Commodities' global assets leaving just the firm’s North American natural gas and power business.
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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.
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London-based commodities broker ED&F Man Holdings has seen its jumbo revolver oversubscribe in syndication.
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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.
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Talviraara’s zinc off-take deal repays project debt, a Finnish junior miner, has used a zinc streaming deal- the largest to date for zinc - to repay its project finance debt.
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A UK state business advisory committee has called for the UK export credit agency ECGD to adopt similar products to other European export credit agencies to help UK exporters weather the crisis.
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Norton Rose LLP today announced that Nick Grandage is to join its banking practice in London as a structured trade and commodity finance partner.
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Calyon has arranged a US Ex-Im backed financing for the Czech Republic’s Travel Service Airline.
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The European Commission has authorised a new ‘take out’ option offered by Danish export credit agency EKF.
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There are signs that exporters are adapting to the new economic realities, but dark clouds in Southern Europe could affect export growth.
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The Japan Bank for International Cooperation has signed a loan with Norske AEDC AS to acquire an interest in the Yme oil field in Norway.
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Davenham has agreed to a trade finance and invoice finance facility on behalf of Park Designs to provide additional working capital.
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Venture Structured Finance has provided a receivables finance package, combined with a cash flow term loan, to fund James Caan’s acquisition of medical recruitment specialist DRC Group through a BIMBO deal.
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Finacity Corporation, together with Norddeutsche Landesbank Girozentrale, has facilitated a European trade receivables securitisation for CHC Helicopter.
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IFC, a member of the World Bank Group, and DEG, are hosting a G20 small and medium-sized enterprises finance meeting next week in Frankfurt, Germany.
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Falcon Trade Corporation has appointed a new head of UK and European sales.
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Banks have launched a revolving credit facility for commodities trader Trafigura.
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Nedbank Capital has hired a specialist advisor to grow its European and African commodities business.
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Germany’s Helaba Group has selected TLM Trade Finance to automate its letters of credit and guarantees business.
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BNP Paribas has closed an amended one-year revolver for energy trader Mercuria.
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The EBRD has issued a trade finance loan to ArmSwissBank to benefit small and medium enterprises in Armenia.
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Grupo Catalana Occidente and INOC.SA have entered into an agreement to acquire Swiss Re, Deutsche Bank and Sal Oppenheim’s stakes in private credit insurer Atradius.
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Partnership Finance signs up for Surecomp’s allFAC receivables management solution.
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January
Russian cellulose producer Vyborgskaya Cellulose (Vyborg) is using a pre-export financing to build the world's largest wood pellet plant.
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Bank of America Merrill Lynch expands its treasury services team in London and Frankfurt with six hires.
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JBIC is supporting the export to Turkey of a Japanese-built bulk carrier through the utilisation of a ship export credit line.
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NatWest and RBS have launched an Exporter’s Package, to help support UK businesses looking to sell their goods and services abroad.
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IFC plans to buy up nonperforming loans in Central and Eastern Europe in cooperation with Varde Partners, a distressed debt and asset firm.
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Banks have signed revolving borrowing base facility for Greece’s Leaf Tobacco Michailides.
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FIMBank has announced three key appointments in trade services, corporate and institutional banking, and transaction management control.
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According to a survey of UK accountants, the invoice finance industry uses too much jargon and should drop terms such as factoring and invoice discounting in favour of simpler terms like cashflow finance.
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Banks have signed a revolving trade credit facility for Luxemburg-based metal merchant wholesaler Tinfos Nizi.
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China Construction Bank has appointed two London trade finance executives as it expands its London trade finance team.
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The EBRD has signed an A B syndicated loan to Eolica Bulgaria to finance the development of the Suvorovo wind farm, in the north-eastern region of Bulgaria.
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The British Exporters Association chair is demanding that the UK government provide bond support to help UK exporters.
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Barclays Capital has led a refinancing for factoring specialist Cabot Financial Europe.
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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.
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Credit insurer Coface is set to receive a capital injection from its shareholder Natixis.
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Deficit narrowed to £2.9 billion in November 2009, with balancing working capital seen as crucial for importers and exporters.
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TradeCard, the supply chain collaboration platform, has reported 10% revenue growth in 2009.
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Insurance broker Marsh has appointed Julian Macey-Dare as international leader of its political risk and structured credit practice.
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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.
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Guy Beringer QC has been appointed as non-executive chairman of ECGD, the UK export credit agency.
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Santander has named two regional UK trade finance directors.
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Swedish development agency Sida is set to do more business in Central and Eastern Europe as it receive guarantees through the second phase of IFC’s Global Trade Liquidity programme.
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The Overseas Private Investment Corporation is backing a trade financing to Lebanon’s Banque de la Mediterranee.
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The US development bank, OPIC, has arranged a loan to Garanti bank for SME lending in Turkey.
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Close Brothers Group has acquired the invoice financing loan book of UK firm GMAC Commercial Finance Limited.
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Miga has guaranteed a funding package to UniCredit Leasing in Latvia.
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Swiss private Bank Corner Banca has selected CREDIC as the software to support its trade finance operations.
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JBIC credit line will help grow Japanese exports to Bulgaria.
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BNP Paribas and SG have signed a Coface-backed export financing to Societe Europeenne des Satellites to acquire four new satellites.
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DBS has implemented Surecomp trade finance solution in the UK and Taiwan with plans for further roll out in the Gulf and US.
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US Ex-Im has arranged a loan to London-based Avanti Communications to launch the Hylas 2 satellite.