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September
Pemex has approached the syndicated loan market with both a three-year revolving credit facility and a five-year term loan.
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August
Credit Agricole Corporate Investment Bank has signed a bilateral buyer credit for South African power giant Eskom’s Medupi power plant.
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Angolan’s state-owned oil firm Sonangol is seeking a loan of $2 billion-$3 billion with a tenor of seven years or longer.
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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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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 closed the senior tranche of Russian oil producer Gazprom Neft’s debut syndicated pre-export financing.
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July
Canadian export credit agency EDC has joined SMBC and BNP Paribas to close a borrowing base facility for Calgary-based oil and gas exploration firm TransGlobe.
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Banks have launched a trade revolver for energy trader Trafigura Beheer.
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State-owned Ghana National Petroleum Corporation has mandated Deutsche Bank for a debut pre-export financing for crude oil.
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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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Syndication has closed this week for state-owned Egyptian General Petroleum Corporation’s jumbo pre-export financing.
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International law firm Reed Smith has appointed four new partners to its energy, trade and commodities group in London.
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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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Energy traders Gunvor International and Gunvor Singapore have seen their trade revolvers sign oversubscribed.
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Total and Aramco’s Saudi Arabia-based Jubail oil refinery merchant financing has scheduled its financing close date.
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Syndication is expected to close this week for state-owned Egyptian General Petroleum Corporation’s jumbo pre-export financing.
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ABN AMRO and Fortis Bank Nederland have strengthened their network with a new office in Athens.
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Energy trader Mercuria has secured more than $1 billion as general syndication for its 364-day loan closed last week.
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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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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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The Japan Bank for International Cooperation and the government of the Egypt have signed a memorandum of understanding to strengthen economic relations.
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May
Turkey’s Isbank trade revolver closes oversubscribed.
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Asian Development Bank has signed a grant to build a railway line that connects the Afghan city of Mazar-e-Sharif to Uzbekistan's expansive rail network and regional markets in Europe and Asia.
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The Export and Import Bank of India will open an East African office in Addis Ababa, Ethiopia.
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Ivanhoe Mines has signed a mandate letter with IFIs and is selecting lead arrangers for a major financing package for the construction of a mining complex in southern Mongolia.
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On the fifth anniversary of the setting up of the Banco Espirito Santo (BES) structured trade finance (STF) team, Jonathan Bell went to meet the key personnel at the London offices of BES to find out how the business has evolved.
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Michele Martensen assesses how banks involved in the oil and gas sector are responding to calls for looser structures and longer tenors.
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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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Banks have launched general syndication of a revolver on behalf of energy trader Gunvor International.
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Banks are expected to launch the senior tranche of a jumbo 58-month pre-export financing this week for state-owned Egyptian General Petroleum Corporation (EGPC).
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A mega trade loan being arranged for Venezuelan oil producer PDVSA has closed following a successful general syndication.
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April
Commodities trader Glencore has already secured more than $9 billion in commitments through general syndication for its revolving credit facility.
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Banks have launched general syndication for a multicurrency revolving loan for energy trader Mercuria.
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Santander has named its new Madrid-based head of energy commodities.
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Société Générale Corporate & Investment Banking has created a new specialised trade and commodity financial services team in Geneva.
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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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Citi has been mandated by Vietnam National Coal Mineral Industries Group to arrange a term-loan facility to finance the Lam Dong Bauxite Alumina Project in Vietnam.
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JP Morgan and National Bank of Egypt have been awarded a mandate to arrange syndication for a jumbo pre-export financing for state-owned Egyptian General Petroleum Corporation.
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March
Norwegian export credit institution Eksportfinans has closed its three year global bond issuance.
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Russian oil producer Tatneft has revised pricing on its jumbo pre-export financing revolver.
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Reed Smith partner Paul Dillon explains the pitfalls regarding the termination of commodity contracts.
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Sapphire Energy has hired former US Export-Import Bank and TARP executive James Lambright to drive its international expansion efforts.
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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
Country Risk Solutions founder Daniel Wagner has joined PFC Global Risk.
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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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Commodities trader Noble Group has announced high revenues and record group tonnage volumes for 2009.
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PDVSA subsidiary Citgo Petroleum has amended a 2005 dual tranche revolving credit B-loan arranged by bookrunners BNP Paribas and JPMorgan.
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Ecopetrol’s senior management has set out the company’s intentions for 2010 with plans to raise $3.5 billion in financing.
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JPMorgan has acquired RBS Sempra Commodities' global assets leaving just the firm’s North American natural gas and power business.
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Israel’s Oil Refineries (ORL) has secured a financing framework to build a hydrocracker project- described as Israel’s “largest investment plan this year”.
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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.
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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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BNP Paribas has closed an amended one-year revolver for energy trader Mercuria.
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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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JPMorgan looks set to acquire base metals trader and broker RBS Sempra Commodities as it negotiates a deal.
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Banco Espirito Santo (BES) and China Development Bank launch syndication of a major trade-related loan for Venezuelan oil producer PDVSA.
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The World Economic Forum has highlighted the infrastructure funding gap as one of its top concerns as it publishes its report, Global Risks 2010, ahead of the Davos meeting.
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Korean Gas Corporation has closed a refinancing facility for four LNG carriers.
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Standard Chartered Private Equity Limited has acquired a minority stake in Seven Energy, a leading Nigerian gas exploration and development company.
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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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Bookrunner Standard Chartered has signed a pre-export financing for Brazilian soft commodity wholesaler Empresa Interagricola.
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Egyptian state oil company Egyptian General Petroleum Corporation (EGPC) is shopping for a jumbo financing, but questions remain about the deal’s structure.