Latest News

TBC Bank raises $107m syndicated loan

Georgia’s TBC Bank has signed a syndicated loan agreement for $106.5 million, a portion of which will be used to support trade finance projects.

Boost for European factoring in 1H17

Factoring turnover in the EU grew 9% year-on-year in the first six months of 2017 to €776 million ($911 million), according to the EU Federation for Factoring and Commercial Finance (EUF).

VEB to finance ERG’s Kazakhstan projects

Vnesheconombank (VEB) has signed an MoU with Eurasian Resources Group (ERG) agreeing to finance Russian industrial products for use in its Kazakhstan projects.

IFC sells Pacific Midstream stakes back to Frontera

The IFC and two funds it manages are to sell their remaining stakes in Colombian pipeline and power transmission company Pacific Midstream to Canadian oil and gas exploration and production company Frontera Energy

Zambia scaling solar debt shapes up

Financing packages of Enel Green Power and Neoen’s projects procured under the first round of Zambia’s scaling solar programme are taking shape. Enel and Neoen won the projects in a mid-2016 tender

BB Energy closes $225m RCF

Energy trader BB Energy has closed a $225 million revolver in order to refinance last year’s $200 million deal, according to reports.

Cocobod in talks for $500m Chexim loan

Ghana’s cocoa regulator Cocobod is in discussion with the Export-Import Bank of China for a $500 million loan, according to Reuters.

Sibos 2017: Standard Bank joins CCRM

Standard Bank is the latest institution to join CCRManager (CCRM), a digital platform for secondary trading of trade finance instruments.

Japan unveils emerging Asia LNG investment drive

The Japanese government has announced a $10 billion investment drive across the liquefied natural gas (LNG) value chain in South and Southeast Asia

EBRD approves TANAP funding

The EBRD board of directors has approved a $500 million loan for the Trans-Anatolian Gas Pipeline project, a natural gas pipeline that will link Eastern Turkey with south-eastern Europe

Sibos 2017: BNY Mellon joins ADB’s Trade Finance Program

BNY Mellon has become a partner bank in the Asian Development Bank’s (ADB’s) Trade Finance Program, after a signing ceremony that took place at the Sibos conference in Toronto.

NIB signs $43m loan for three Norwegian hydro projects

Norwegian regional power utility Nord-Trøndelag Elektrisitetsverk has signed on a NKr340 million loan from the Nordic Investment Bank for three hydro power projects

ICBC and EBRD back Acwa’s Egypt solar FIT II

The Industrial and Commercial Bank of China and EBRD are lending $146 million for three Acwa Power solar projects in Egypt. The Benban plants are being procured under the country’s second FIT programme

Solunion expands product offering

Solunion, the joint venture between Euler Hermes and Spanish insurer MAPFRE, is now offering its clients the full range of Transactional Cover Unit (TCU) products on offer from Euler Hermes.

Sibos 2017: Lloyds picks Finastra platform

Lloyds Bank will implement Global PAYPlus, a payments platform powered by Finastra, to benefit its customers in corporate banking, payments and capital markets, according to an announcement at the Sibos conference in Toronto.

ADB backs Myanmar transmission works

The Ministry of Electricity and Energy will hold international tenders for two electricity transmission line packages in Myanmar in the second quarter of 2018

IFC and EBRD sign debt for Serbia's Dolovo wind

A sponsor consortium led by Abu Dhabi-based Masdar has signed on a roughly €215 million debt package for the construction of the 158MW Dolovo onshore wind project in Serbia