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March
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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Erste Group Bank’s structured commodity and trade finance head has retired after 15 years at the bank.
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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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ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.
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Belgium’s Izola Bank is planning a bond issue this month to increase its factoring business.
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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.