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September
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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August
IFC and Inecobank have teamed up to expand access to trade finance in Armenia.
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LBB has structured the biggest cross-border financing for a group of Russian companies under US Ex-Im cover for the last 10 years.
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Israeli export credit agency Ashr’a’s largest ever deal coverage, a trade finance loan to the Republic of Azerbaijan, is set to drawdown imminently.
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The European Bank for Reconstruction and Development is financing two Kyrgyz microfinance institutions for on-lending to smaller institutions and entrepreneurs in the Kyrgyz Republic.
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The Asian Development Bank has signed a grant to expand and modernise Tajikistan’s electricity transmission system.
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The syndicated financing facility for Ukrainian agribusiness company Kernel Holding, led by ING Bank and UniCredit Bank, has signed oversubscribed.
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The International Islamic Trade Finance Corporation has announced its trade finance operations during the first half of 2010.
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Oil producer BP has launched two syndications secured against crude oil sales in Angola and Azerbaijan.
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Lukoil has signed an unsecured $1.5 billion club financing.
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Anglo-Russian oil group TNK-BP has increased the target amount for its three-year unsecured club deal.
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Rusal is poised to refinance its Russian bank trade debt and sign a project loan for the completion of its Boguchanskaya plant.
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Lukoil is set to sign an unsecured jumbo club financing “imminently”.
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A pre-export financing for Russia’s coal producer Siberian Energy Coal Company (SUEK) attracts further senior lenders.
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Banks have signed a trade deal for International Bank of Azerbaijan.
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Banks have closed the senior tranche of Russian oil producer Gazprom Neft’s debut syndicated pre-export financing.
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July
Banks have signed the Sace-backed tranche of a jumbo project financing to build a 500 tonne polypropylene production complex in Russia.
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After attracting an oversubscription in general syndication Ukrainian steelmaker Metinvest has scaled back its pre-export financing.
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Nordea has signed a new four-year deal with Russian steel producer Evraz to refinance its existing loan facilities.
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Anglo-Russian oil group TNK-BP has sent proposals to banks for an unsecured syndication, the first this year for a Russian oil major.
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Rabobank has been mandated by Ocean Partners for a limited recourse pre-payment facility to Mongolian copper miner Erdenet, its third in just over a year.
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After attracting an oversubscription in general syndication Ukrainian steelmaker Metinvest is scaling back its pre-export financing before it closes early next week.
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The EBRD has signed an oversubscribed A/B loan for Russia’s Brunswick Rail Group to purchase 5,000 new railcars.
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Russia’s state owned development bank Vnesheconombank has signed long-term credit agreements with LLC Tobolsk for a new polypropylene complex in Western Siberia.
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ING and Société Générale have been mandated as the coordinating banks to arrange a pre-export financing for Russia’s coal producer Siberian Energy Coal Company (SUEK).
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DEG is lending $30 million to acquire and build out telecommunications companies in the CIS.
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Raiffeisenbank and Raiffeisen Zentralbank Österreich (RZB) have signed a pre-export financing for Russian and global mineral fertilizer company Acron.
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NLMK has signed a loan agreement with the European Bank for Reconstruction and Development to finance its Energy Efficiency Programme.
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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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Raiffeisenbank has joined IFC’s Global Trade Finance Programme.
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June
Russian oil producer Gazprom Neft has introduced a reverse pricing flex on its oversubscribed pre-export financing.
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Banks have signed a jumbo pre-export financing for Russian oil producer Tatneft.
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The Export-Import Bank of the United States has signed a trade MoU with Russia’s state-owned Vnesheconombank.
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International Trade Finance Corporation, part of a group of Islamic Development Bank, has signed a loan for the International Bank of Azerbaijan to finance its trade operations.
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Banks are close to signing a pre-export financing for Ukrainian steelmaker Metinvest.
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The European Bank for Reconstruction and Development, the European Investment Bank and the EU’s Neighbourhood Investment Facility have signed loans to modernise Moldova’s water system.
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Coface has become the first international credit insurer to get its licence in Russia.
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IFC has held a series of trade finance training seminars for Armenian banking professionals this week.
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The Export-Import Bank of Korea will increase its credit limit for Russian financial service provider Uralsib.
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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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Coface has become the first international credit insurer to receive a Russian insurance licence.
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Creditors have agreed to accept a debt restructuring plan for Kazakhstan’s BTA Bank.
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London-listed Russian miner Petropavlovsk’s discussions with Industrial and Commercial Bank of China to fund its Kimkano-Sutarskiy iron ore mining operation are progressing well.
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Development bank IFC has signed a shipping purchase loan to maritime service provider GAC Group to support offshore oil operations in Kazakhstan, Africa, and the Middle East.
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The European Bank for Reconstruction and Development has increased the financing available to the state Export-Import Bank of Ukraine to further support Ukrainian exporters and importers.
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The IFC is partnering with Russia’s Bank Saint Petersburg to expand access to trade finance for small and medium enterprises in the northwest region of Russia.
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The European Bank for Reconstruction and Development and Kazakhstan’s Kazyna Capital Management have invested in a restructuring fund to support the corporate sector.
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The Asian Development Bank has signed a loan to fund Garadagh Cement’s integrated cement plant in Azerbaijan, ADB's first ever private-sector infrastructure investment in the country.
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Banks have launched senior syndication of a $1 billion pre-export financing for Russian oil and gas company Gazprom Neft that achieves markedly better pricing than its recent borrowing.
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Russian coal and steel group Mechel has launched a $2.1 billion pre-export finance to refinance existing debt from July 2009.
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May
Deutsche Bank has been mandated by Ukrainian steelmaker Metinvest for a $300 million pre-export financing.
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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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Metals financiers are clawing back, but it is a slow road. Jonathan Bell, speaks to some of the players.
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The EBRD has signed two loans to Sodrugestvo Group, a Russian agribusiness group.
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Russian oil refiner Antipinsky (ANPZ) has mandated RZB and VTB Group to structure a pre-export financing.
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Belgian export credit agency ONDD has acquired a 33% stake in Austrian credit insurer Garant.
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Russian state development bank Vnesheconombank has extended banking guarantees to Germany’s Kreditanstalt fur Wiederaufbau Bank to finance Russian SMEs.
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Export-import bank of Korea has signed loan agreements for Uzbekistan’s Asaka Bank and National Bank of Uzbekistan for Foreign Economic Activity to finance investment projects.
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The European Bank for Reconstruction and Development has offered a finance facility to cotton trading company ECOM to provide funding to cotton farmers in Tajikistan.
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Asian Development Bank will offer a revolving credit line to support trade financing for Azerbaijan’s Bank of Baku.
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The World Customs Organisation and ADB have signed an MoU boosting their partnership in facilitating trade.
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The Asian Development Bank has launched a new solar energy initiative at its annual meeting in Tashkent.
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April
Asian Development Bank has signed two loan agreements with Azerbaijan’s AGBank to expand its revolver loan and support the development of entrepreneurship in Azerbaijan.
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Russia’s Alfa-Bank expands its operations with export finance head appointment.
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The EBRD is launching online training for issuing banks under its trade facilitation programme (TFP).
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William Husband of Barclays Capital moves to investment banking division in Moscow.
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Mining company ENRC is considering trade finance as one option in its investment in expanding and upgrading its production facilities in Kazakhstan.
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State-owned railway operator Russian Railways has announced its investment plans for the first quarter of 2010.
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Bank UralSib has appointed a new chief financial officer in charge of financial planning and management, financial and management reporting and liquidity management.
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The Asian Development Bank has approved financing to build Central Asia's first 800 MW combined cycle gas turbine power plant to improve energy security and energy efficiency in Uzbekistan.
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VTB Bank and a consortium of lenders have signed a dual tranche trade-related syndicated loan for Belarusian Bank for Development and Reconstruction.
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Russia’s Promsvyazbank has decided to stick to a club deal, and avoid general syndication, for a general working capital facility that represents the first Russian FI syndication completed this year.
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European Bank for Reconstruction and Development has called for international financial institutions to join forces in coordinating their efforts in the Kyrgyz Republic in the wake of the recent violence.
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Brazil, Russia, India and China’s development banks have signed a memorandum of cooperation to enhance trade and economic relations between BRIC countries.
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Russian oil firm TNK-BP is deciding whether to repay, reprice, or refinance its existing pre-export finance to take advantage of cheaper pricing in today’s market.
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Banks have signed a 10-year loan for Russian fertiliser firm EuroChem backed by ECIC, the South African export credit agency.
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The European Bank for reconstruction and Development is providing a loan to Turkmenistan’s Biyat to finance the construction of a new CO2 generation plant.
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Turkey’s Isbank plans to expand its operations in the former CIS and the Balkans.
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After a busy 2009 Sace, the Italian export credit agency, has announced plans to insure more business in Russia.
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Russia’s mobile telecommunications provider MTS has signed a major new credit agreement with Bank of Moscow.
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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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ONDD, the Belgian public export credit agency along with Russian insurer Ingosstrakh has agreed a capital increase in their joint venture Russian insurer INGO-ONDD.
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The Japan Bank for International Cooperation has signed a loan for SKZ-U to construct a sulphuric acid plant in Kazakhstan. The acid produced will be used for Japanese uranium production.
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The European Bank for Reconstruction and Development has signed a credit line to Banca Sociala for on-lending to small and medium-sized enterprises in Moldova.
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Kazakhstan's Alliance Bank has completed its $4.5 billion restructuring, the first under Kazakhstan’s new “cram-down” restructuring legislation.
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The EBRD has announced plans to help build a new private bank in Turkmenistan as part of its new strategy to boost lending to small and medium-sized businesses in the country.
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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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Highly experienced structured trade banker Steven Fisher moves to Kiev with Citi.
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In its latest equipment purchase, Russian mobile operator MTS has closed a financing deal with Crédit Agricole and BNP Paribas.
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International Finance Corporation has invested in equity and provided advisory support to help AccessBank Tajikistan to expand the availability of credit for micro and small enterprises in Tajikistan.
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China Development Bank has signed a credit line to Russian state-owned Vnesheconombank to finance investment projects implemented within Russia.
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Catching up with Rusal’s director of capital markets, Oleg Mukhamedshin, is not always easy. But on a recent visit to London, he found time in between meeting trade bankers to have a chat with Jonathan Bell.
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Law firm White & Case has appointed two new partners specialising in project and trade finance.
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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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Russian oil producer Tatneft has revised pricing on its jumbo pre-export financing revolver.
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Export Development Canada is providing a $48 million loan to Russia’s Gazprombank to finance the purchase of equipment to capture and process flared gas.
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Russian oil producer Tatneft is set to mandate banks this week for a jumbo pre-export financing revolver.
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February
The EBRD has sold its minority stake in Centerra Gold, the Canadian-based gold mining and exploration company, operating primarily in the Kyrgyz Republic and Mongolia.
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Banks have signed the Euler Hermes-backed tranche of a jumbo project financing to build a 500 tonne polypropylene production complex in Russia.
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Asian Development Bank President Haruhiko Kuroda has announced that ADB will open a resident mission in Turkmenistan's capital, Ashgabat.
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Russian oil producer Gazpromneft has mandated SG, Natixis and BTMU for a debut pre-export financing, but the market asks: has pricing gone too low?
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Russia’s Vnesheconombank and Abkhazia’s Universal-bank have signed a general agreement of cooperation to promote trade.
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To protect its debt restructuring plan, Kazakhstan’s Alliance Bank has filed for chapter 15 bankruptcy to prevent US lawsuits.
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The European Bank of Reconstruction and Development has signed a MoU to invest in infrastructure and industrial projects in Kazakhstan.
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Belgian export credit agency ONDD has increased its insurance premiums for Estonia, Lithuania and Latvia.
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Russian oil producer Gazpromneft has asked for funding proposals from banks last week as it decides whether to mandate a jumbo pre-export financing.
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The European Bank for Reconstruction and Development and the European Fund for Southeast Europe have provided a loan to support micro and small enterprises in Moldova.
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The European Bank of Reconstruction and Development has announced a new strategy to support Kazakhstan, which does not involve either Alliance Bank or BTA Bank.
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Intesa Sanpaolo and VTB Capital have signed a trade-realted loan to Belarusbank.
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Vneshekonombank will set up an export credit agency within four years according to the bank’s CEO Vladimir Dmitriev.
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Drum Risk Management has hired a business development manager to boost its services in the CIS.
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Russian oil producers Bashneft and Gazpromneft are deciding between pre-export financings or bond issues as they approach bankers for new loans.
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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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Russia-based Salans partner Glenn Kolleeny has been elected to the firm’s global board.
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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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Ildar Muslimov has been appointed the chairman of Bank Uralsib’s management board.
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Rabobank and Banco Espirito Santo (BES) and the UK’s Ocean Partners have closed a second limited recourse pre-payment facility to fund Mongolian copper miner Erdenet.
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Russian oil major Tatneft is looking to push-out the tenor on its latest pre-export financing.
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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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Japanese export credit agency JBIC and Citi have signed a trade loan for the Development Bank of Kazakhstan.
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The Export Import Bank of India has signed a line of credit to Russia’s VEB.
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The development bank for the Netherlands, FMO, has signed its first loan in Kyrgyzstan to Kyrgyz Investment and Credit Bank.
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The Opec Fund for International Development has signed a loan with Amrahbank in Azerbaijan to increase the bank’s trade finance market coverage.
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Russian joint-venture factoring firm, FactorRus, has appointed a new CEO.
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Change in status further opens up three new markets for US exporters.
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Bank of Moscow has seen its trade refinancing oversubscribe by $100 million.
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Russia’s Novolipetsk Steel has secured its first multi-sourced export credit agency deal.