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December
A record year for some commodity banks, but asks Dickon Harris, will the structured commodity finance party continue in 2011?
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Structured commodity finance solutions are still in vogue in Latin America despite the availability of the capital markets. Oliver O’Connell looks at some of the trends in the region.
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India’s YES Bank has partnered with National Collateral Management Services Limited (NCMSL) as it expands its commodity financing in the agricultural sector.
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Standard Chartered has signed a collateral-backed facility for Tanzania–based softs commodity trader Export Trading Group for working capital along its value chain.
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Commodity trading company Noble Group has closed a dual tranche refinancing of a revolving credit facility following a huge oversubscription and upsizing.
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Rand Merchant Bank has appointed a new head of structured trade and commodity finance for Africa.
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Forecast for 2011 sees US agriculture exports reach record levels.
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November
Deutsche Bank has made two new hires to its structured commodity trade finance (SCTF) team in the Americas.
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Bookrunner Itau Unibanco has signed a Brazilian reais-denominated trade finance facility for an ethanol producer.
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Softs commodity trader Cargill signs jumbo revolver.
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October
Brazil’s Ecoagro has placed a landmark securitisation of agricultural receivables for soy producers and is aiming to find a suitable structure for foreign participation and the export market.
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DP Marketing, a special purpose vehicle for Brazil’s Bahia pulp has signed a pre-export financing through two banks.
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September
Banks sign a record pre-export financing for Ghana Cocoa Board tomorrow in Accra.
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August
WestLB has launched syndication of a pre-export financing facility for Brazilian agri-company Vigolo- Bom Jesus.
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The syndicated financing facility for Ukrainian agribusiness company Kernel Holding, led by ING Bank and UniCredit Bank, has signed oversubscribed.
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Gatehouse Bank, a Shariah compliant wholesale investment bank, has appointed Irfan Afzal as head of structured trade finance and syndication to its team in London.
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Ghana Cocoa Board (Cocobod) raises record level of commitments for annual pre-export finance.
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Ghana Cocoa Board (Cocobod) raises record level of commitments for annual pre-export finance.
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July
Standard Chartered Bank has created a new position - global head of commodities research – to help develop new business in the commodity derivatives and physical markets.
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Brazilian pulp producer Fibria Celulose has signed a pre-export financing through a club of nine banks.
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São Paulo-based lawyers Christian Ramos at Ramos e Zuanon Advogados and Charles Johnson at Chadbourne & Parke give Trade Finance magazine unique insight into the current health of the Brazilian commodities finance market from a legal perspective.
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The Brazilian agri-sector hit turbulent times through the worst of the global financial crisis. However, the sector has bounced back well and select international banks are once again working with the better risks. Michele Martensen assesses the agri-sector.
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Banksville has completed a secured export financing facility for Colombian fruit exporter Banacol to finance its exports to Germany.
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June
Rabobank has extended its cooperation with Brazil’s Banco Cooperativo Sicredi with the intention of further developing the country’s SME agribusiness sector.
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Dutch agricultural bank Rabobank has agreed a strategic partnership with state-owned rural lender Agricultural Bank of China.
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May
Banks have launched the 18th annual pre-export financing for Ghana Cocobod this week but Banco Espirito Santo, one of the original mandated lead arrangers, has dropped out of the deal.
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Appetite for softs commodity financing is returning. Dickon Harris examines developments across the emerging markets.
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Bookrunner ING has signed a dual-tranche syndicated pre-export finance facility on behalf of Brazilian agribuisness Multigrain.
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The EBRD has signed two loans to Sodrugestvo Group, a Russian agribusiness group.
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Standard Chartered Bank, IFC and OFID have teamed up to finance the trade of soft commodities in five African countries and India.
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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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The Dubai Multi Commodities Centre Authority has announced the performance of its global multi commodity receipt-facilitated financing during 2009.
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The US is suspending its cotton export credit programme as part of a bid to end a trade dispute with Brazil.
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March
Standard Bank has appointed a new head of soft commodities Africa.
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Reed Smith partner Paul Dillon explains the pitfalls regarding the termination of commodity contracts.
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Société Générale has closed a pre-export financing for Burkina Faso cotton producer Faso Coton.
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February
Commodities trader Noble Group has announced high revenues and record group tonnage volumes for 2009.
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James Prusky and Robert Klein, principals at Crecera Finance Company, discuss the role of trade finance in unlocking growth in the Latin American SME market.
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Pricing for Ghana Cocobod’s annual pre-export financing looks likely to drop by at least 100 basis points according to a poll conducted by Trade Finance Magazine.
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The IFC’s Global Trade Liquidity Programme is set to launch a $1 billion agri-trade fund.
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January
US Agriculture Secretary Tom Vilsack has announced the allocation of million of dollars to promote US food and agricultural exports.
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Russia-based Salans partner Glenn Kolleeny has been elected to the firm’s global board.