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Trade Infrastructure

  • March

    Citibank opens financial centre in Dubai 04 March 2010

    Citibank has opened the Jebel Ali Financial Centre, Dubai, to provide business and financial solutions for small and mid-market enterprises.

  • February

    Banobras NIP to be boon for US exporters 25 February 2010

    US Ex-Im and Banobras have signed a memorandum to support up to $1 billion in US exports to back Mexico’s infrastructure development programme.

  • UPS lends support to National Export Initiative 19 February 2010

    UPS is to play a crucial role in the NEI, encouraging US SME exporters to take their products to more international markets through a partnership with the US Commercial Service.

  • Russia and Abkhazia enter trade pact 19 February 2010

    Russia’s Vnesheconombank and Abkhazia’s Universal-bank have signed a general agreement of cooperation to promote trade.

  • EBRD funds Serbian gas network 18 February 2010

    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.

  • EBRD commits to investment in Kazakhstan 18 February 2010

    The European Bank of Reconstruction and Development has signed a MoU to invest in infrastructure and industrial projects in Kazakhstan.

  • January

    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.

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%

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