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Trade Credit & Political Risk

  • March

    Germany extends export credit refinancing 10 March 2010

    The German government has extended its export credit refinancing aid scheme for long-term export credit for a further six months.

  • February

    Zurich and KEIC sign MoU 26 February 2010

    Global insurer Zurich’s North America Surety, Credit & Political Risk group has signed a MoU with Korea Export Insurance Corporation (KEIC), Korea’ export insurance agency.

  • Pakistani engineers call for export insurance 26 February 2010

    Pakistan’s engineering industry has called for a government backed export credit insurance scheme to cover the sector.

  • World trade suffers 65-year record drop 25 February 2010

    World trade has experienced the largest single drop since the Second World War, according to the World Trade Organisation.

  • PFC Global Risk hires Wagner 24 February 2010

    Country Risk Solutions founder Daniel Wagner has joined PFC Global Risk.

  • ECGC maintains ratings for EU countries 18 February 2010

    The Export Credit Guarantee Corporation of India is to maintain its credit risk rating for European countries in danger of sovereign defaults.

  • Riordan takes on new role at Zurich 18 February 2010

    Zurich has named Daniel Riordan president of its North America Commercial Specialties unit.

  • Aon Risk Services hires new CEO of Asia 04 February 2010

    Aon Risk Services has hired a new chief executive officer of Asia Aon Risk Services.

  • January

    Crisis easing says Coface 25 January 2010

    Coface has announced 20 country upgrades at its 14th country risk conference, claiming that the global financial crisis is easing, but warns of continuing bubbles.

  • Export credit agencies to the rescue of trade finance 25 January 2010

    What saved trade from collapsing totally during the global crisis? This column argues that export credit agencies played a key role in stabilising the trade finance market, and thus helped reduce credit risks and allowed exporters to offer open account terms in competitive markets.

  • Coface receives capital boost 13 January 2010

    Credit insurer Coface is set to receive a capital injection from its shareholder Natixis.

  • Marsh welcomes back Macey-Dare 12 January 2010

    Insurance broker Marsh has appointed Julian Macey-Dare as international leader of its political risk and structured credit practice.

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?
10%
No - are you crazy? These prices are ridiculous. What were these banks thinking?
29%
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.
62%