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Factoring & Forfaiting

  • March

    Belgium’s Izola Bank boosts factoring 08 March 2010

    Belgium’s Izola Bank is planning a bond issue this month to increase its factoring business.

  • February

    Garanti Factoring boasts leap in profits 19 February 2010

    Garanti Factoring has reported a 42% increase in earnings over 2009.

  • James Caan uses invoice finance to fund DRC acquisition 08 February 2010

    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.

  • Bibby finances scales importer 05 February 2010

    Bibby Financial Services, has provided a factoring facility to support a Canadian company that imports precision scales and weighing instruments from China.

  • January

    The end of factoring? 21 January 2010

    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.

  • BarCap funds Cabot Financial Europe 15 January 2010

    Barclays Capital has led a refinancing for factoring specialist Cabot Financial Europe.

  • 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.

  • Bibby signs receivables deal for Canadian transport firm 07 January 2010

    Bibby Financial Services has provided a receivables-backed financing deal for a Canadian transport firm..

  • Close Brothers acquires invoice loan book 07 January 2010

    Close Brothers Group has acquired the invoice financing loan book of UK firm GMAC Commercial Finance Limited.

  • Thai factor prepares IPO 06 January 2010

    Thailand’s IFS Capital, a factoring and financing company has announced plans to raise funds through an initial public offering this year.

  • FactorRus appoints new CEO 06 January 2010

    Russian joint-venture factoring firm, FactorRus, has appointed a new CEO.

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%