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North Asia & China

  • March

    China Exim funds Sri Lankan airport 11 March 2010

    Export-Import Bank of China has signed a loan agreement to construct Mattala Airport and the Colombo-Matara Railway in Sri Lanka.

  • StanChart teams with China for trade roadshow 10 March 2010

    Standard Chartered Bank has teamed with Chinese officials for a trade delegation to promote renminbi trade settlement in Malaysia, Thailand and Singapore.

  • ANZ makes key hires in export finance 08 March 2010

    ANZ has expanded its team and reach in export finance with key hires for both Singapore and London.

  • Xiwang Sugar receives IFC support 02 March 2010

    An IFC loan to China’s Xiwang Sugar holdings will boost both rural employment and further develop sustainable agribusiness.

  • Citi names APAC bank services head 02 March 2010

    Former trade head for Africa to take over responsibility for Citi’s Bank Services Group in the Asia Pacific region.

  • February

    EBRD sells Centerra Gold stake 26 February 2010

    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.

  • JBIC funds plastics plant in China 25 February 2010

    The Japan Bank for International Cooperation (JBIC) has agreed a loan with Japan’s Engineering-Plastics Corporation to build a new polycarbonate production facility in China.

  • ADB to open mission in Turkmenistan 24 February 2010

    Asian Development Bank President Haruhiko Kuroda has announced that ADB will open a resident mission in Turkmenistan's capital, Ashgabat.

  • EBRD finances mining services in Mongolia 22 February 2010

    The European Bank for Reconstruction and Development is to provide financing to Leighton Mongolia to offer services for at least two Mongolian projects.

  • BTMU inks credit agreement for PAMA 18 February 2010

    The Japan Bank for International Cooperation, with BTMU, have signed a buyer's credit agreement for Indonesia’s PT Pamapersada Nusantara.

  • Kexim launches Hidden Champion programme 16 February 2010

    Korea Eximbank is to provide additional funding for a selection of South Korean small and medium enterprises.

  • Hong Kong firms to issue renminbi bonds 12 February 2010

    Companies based in Hong Kong can now issue renminbi bonds under new guidelines announced by the Hong Kong Monetary Authority.

  • Kexim leads UAE nuclear project 11 February 2010

    Kexim is to devise a financing package for a large-scale nuclear reactor project in the United Arab Emirates.

  • Citi names Asia head of treasury and trade 11 February 2010

    Citi Global Transaction Services has named Sridhar Kanthadai as managing director, regional head of treasury and trade solutions for Asia Pacific and Japan.

  • Grandage joins Norton Rose as partner 11 February 2010

    Norton Rose LLP today announced that Nick Grandage is to join its banking practice in London as a structured trade and commodity finance partner.

  • JBIC provides oilfield acquisition loan 09 February 2010

    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.

  • JBIC inks CAF trade finance loan 01 February 2010

    Under the government of Japan’s Trade Finance Initiative, JBIC has signed its first loan to CAF to directly support trade finance.

  • January

    HSBC boosts China supply chain team 28 January 2010

    HSBC has made several senior appointments in its Greater China and Taiwan trade and supply chain team.

  • Isbank utilises ship export credit line 26 January 2010

    JBIC is supporting the export to Turkey of a Japanese-built bulk carrier through the utilisation of a ship export credit line.

  • CCB launches London trade finance team 19 January 2010

    China Construction Bank has appointed two London trade finance executives as it expands its London trade finance team.

  • Insurers warn of slowing Chinese trade flows 14 January 2010

    A potential slow-down in Chinese trade flows, and the rise of asset bubbles,are among some of the issues to be discussed at Davos, later in January.

  • Kogas LNG refinancing signs 14 January 2010

    Korean Gas Corporation has closed a refinancing facility for four LNG carriers.

  • Schahin signs Black Gold restructuring 13 January 2010

    Brazilian offshore operator Schahin has signed a debt restructuring for its Black Gold drilling vessels, to be chartered by Petrobras.

  • ADB rings in the changes 13 January 2010

    The Asian Development Bank is implementing changes to the way it does business to improve the quality and responsiveness of its work and lower transactions costs.

  • IBM offers factoring in China 13 January 2010

    IBM has completed its first deal under a new factoring entity, IBM Factoring Company Limited, which will offer factoring to businesses operating China.

  • IFC, EBRD, and CRG launch distressed asset fund 11 January 2010

    Development banks IFC and the EBRD have launched a fund to be managed by the US’s CRG Capital that will invest in distressed assets in Central and Eastern Europe.

  • Chile’s BCI secures trade financing 08 January 2010

    Export-Import Bank of China is guaranteeing a trade loan for Chile’s Banco de Credito e Inversiones (BCI).

  • Latham & Watkins opens in Beijing 08 January 2010

    Latham & Watkins strengthens Asia practice with office launch in China’s capital.

  • ASEAN FTAs come into force 08 January 2010

    Two major free trade agreements with the Association of South East Asian Nations (ASEAN) have come into effect.

  • China to expand renminbi cross-border programme 05 January 2010

    China’s central bank has stated it plans to expand a trial for yuan cross-border settlements across the whole of China.

  • Japan and Bulgaria strengthen trade ties 05 January 2010

    JBIC credit line will help grow Japanese exports to Bulgaria.

  • DBS adopts Surecomp IMEX solution 04 January 2010

    DBS has implemented Surecomp trade finance solution in the UK and Taiwan with plans for further roll out in the Gulf and US.

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