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.
Before joining Natixis, Gillet-Lagarde held various positions in infrastructure finance at Credit Lyonnais, BNP and Entenial (Allianz Group).
Prior to Zurich, Chow worked at Atradius Credit Insurance, the Australian Prudential Regulation Authority (APRA), Efic and Westpac.
The 10-year project is aimed at rehabilitation and expansion of Pakistan’s transmission network and promoting reforms at the state-owned National Transmission Despatch Company (NTDC) and newly established commercial operator, the Central Power Purchasing Agency (Guarantee) Limited.
The deal is the first time SunExpress has managed to combine US Exim-backed debt with a French tax lease.
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 falls under the umbrella of the “2i per I’Impresa” programme – a joint initiative by CDP, Sace and EIF – 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 and 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%) – looks set to launch 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.