The deal is the first time SunExpress has managed to combine US Exim-backed debt with a French tax lease.
The first signs of a tangible pricing hit on Turkish bank trade finance borrowings since the attempted coup in July are beginning to show, with lenders arguing for margin flex clauses to offset the risk of Turkish borrowers being downgraded.
The UKEF cover negates the need for the borrower to put up the cash collateral ordinarily required by a bank to issue a performance bond, thereby freeing up cashflow for the borrower.
By seizing control of the oil products and logistics at an early stage, Monjasa is increasing the reliability and efficiency of its global supply of maritime fuels.
Altech Chemicals has received a summary of senior facility agreement terms and conditions from KfW IPEX-Bank for its proposed Malaysia-based high-purity alumina (HPA) project.
The deal represents the new initiative of the “2i per I’Impresa” programme of CDP, Sace and EIF (part of the EIB Group), which aims to provide Italian SMEs with resources from the Juncker Plan to support internationalisation and innovation.
The Hitachi/BTMU initiative is also expected to be applicable to supply chain finance.
Given recent unconfirmed reports of the sale of a stake in the project to Exxon Mobil, the financing looks set to launch, along with a final investment decision (FID) by the project’s sponsors (Eni (50%) China National Petroleum Corporation (20%), Empresa Nacional de Hidrocarbonetos (10%), Kogas (10%) and Galp Energia (10%)), by year-end at the latest.
The cancelled deal was due to a problem with the documentation for the re-opening of the issue.
The deal is part funded by a bridging loan that includes EDC as a direct lender.
The upgrade involves 6/8 laning of the NH-4B, SH-54 and Amra Marg roads and is expected to enable JNPT to double its existing container capacity to 9.85 Million TEUs annually.
Facility agent Deutsche Bank held a conference call with lenders at the end of last week, after RII defaulted with no advance warning or communication with its banks.
Eurobank is the first Greek bank to join IFC's Global Trade Finance Program.
The sponsors won the projects in Mexico’s first renewables auction in March 2016.
Details have yet to be cemented, but the facility will comprise a mix of dollar and rand denominated loans in senior and mezzanine tranches.
The Small Business Export Loan, launched by Efic in April, offers a new unsecured debt lending for SMEs.
Funds will be used to provide additional working capital to fulfil customer orders in its growing optical subassembly business.
Funds will be used to invest in Brisa's new greenfield manufacturing plant in Turkey.
The acquisition is part of Alpha's Chapter 11 process, and recently formed Contura is majority-owned by a group of Alpha's first lien lenders.
O’Grady will lead the sales team for Sterling’s ABL division in the Midwest.