Container shipping companies have enjoyed a modest increase in freight rates since the start of 2017 but will have to cut capacity further to realise a sustainable recovery, according to ratings agency Fitch.
Turk Eximbank has signed a €186.6 million ($209 million) syndicated loan agreement, according to an announcement by the Turkish ECA.
The syndication for Ghana Cocoa Board’s (Cocobod) $1.3 billion annual pre-export receivables-backed trade finance facility has begun
The African Export-Import Bank (Afreximbank) has approved a $200 million industrialisation liquidity facility to Egypt’s Banque Misr for the financing of small and medium-sized enterprises (SMEs).
PLN and Itochu are aiming to reach financial close on the engineering, procurement and construction (EPC) contract for the 2x100MW sub-critical Kalselteng 2 coal-fired power plant in South Kallimantan within three to four weeks
Export Development Canada has closed a $6.5 million contract financing credit facility with Corvus Energy, a lithium battery exporter in Richmond, Canada.
Gunvor Singapore has closed its annual revolver refinancing at $1.129 billion, having sought to raise about $800 million when it launched in April, reports sister publication Global Capital.
Swiss energy and commodity trader Mercuria has closed syndication of $2.0 billion in multicurrency revolving credit facilities (RCFs).
Bibby Financial Services (BFS), the UK finance providers for SMEs, has named Sean Flannery and Ronnie Stokes as corporate managers in the north of England and Scotland respectively.
Saudia Arabian Yamama Cement Company has increased and extended its sharia-compliant credit facilities from SR1 billion ($267 million) to SR3.6 billion ($960 million).
Law firm Herbert Smith Freehills has hired Dmitry Gubarev as a partner in its Moscow office.
Noble Group has agreed with its lenders upon a 120-day extension senior secured borrowing base facility, starting 20 June, the company has announced.
Japan Bank for International Cooperation (JBIC) has signed off an export loan to Indonesian state utility PLN to fund the purchase of equipment to set up the 2x100MW Kalselteng 2 coal-fired power plant in South Kallimantan
UK Export Finance (UKEF) is guaranteeing an $18.7 million loan for engine upgrades to be carried out by GE Aviation in Prestwick, Scotland.
Greensill Capital, the supply chain finance specialist, has named Kevin Dineen as a new VP of origination, based in Melbourne.
Finacity and DZ Bank have co-structured a $155 million trade receivables securitization for US tobacco company Alliance One International.
Law firm Baker McKenzie has named Michael Foundethakis as its new global head of banking and finance.
The President of the African Export-Import Bank (Afreximbank), Benedict Oramah, has been re-elected to the board of FCI, the representative body for factoring and receivables finance companies.
The European Bank for Reconstruction and Development (EBRD) and FMO are considering providing debt of up to $70 million for another of Fotowatio Renewable Ventures’ (FRV) solar projects in Jordan. FRV acquired the project from Saudi Oger
The European Bank for Reconstruction and Development (EBRD) has inked a €290 million ($324 million) financing agreement with Egyptian National Railways (ENR).