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GTR. Industry insiders are hopeful that access to funding and insurance will  remain resilient across the wider supply chain finance market, despite the disastrous collapse of London-based behemoth Greensill. Trade finance transactions on Triterras’ blockchain-based Kratos platform GTR can reveal. Swift has integrated the International Chamber of Commerce’s sustainable trade finance guidelines into its KYC registry,  Senior reporter John Basquill also provides a closer analysis of the s...

Collapsed supply chain finance (SCF) firm Greensill began contingency planning for insolvency as early as December last year, a new document filed with Australia’s corporate regulator shows. Grant Thornton, which has since been appointed as administrators to Greensill in the UK and Australia, was first engaged by Greensill’s UK arm in “late December” according to a filing to the Australian Securities and Investments Commission (ASIC), seen by GTR. Greensill was not publicly reported to...

The CPTPP came into effect in late 2019, and comprises 11 countries including Australia, Canada, Japan and Mexico. It succeeded the Trans-Pacific Partnership (TPP), which former US President Donald Trump . Presenting China’s annual government work report on March 5, Premier Li Keqiang said the world’s second-largest economy “will actively consider joining” the agreement. This year’s report, which sets out general guidelines for China’s policies for 2021, has a strong focus on broade...

Horizon Capital, a Swiss investment management company, has unveiled a new sustainable commodity trade finance fund, which it will launch on April 5. The fund, which will start at US$10-15mn in size, will finance commodity trade transactions that contribute to at least one of the sustainable development goals (SDGs), with eligible borrowers having to demonstrate strong environmental, social and governance (ESG) performance. “We’ll put an ESG overlay on various steps of the investment proces...

Swiss-based energy company MET Group has secured a new €120mn medium-term loan from a group of five banks. The committed three-year facility refinances a previous €50mn facility from May 2018 and will be used for general corporate purposes. MET has the option of increasing the size of the facility to €150mn through an accordion feature. The four lenders involved in the previous deal – Citi, GPB International, OTP Bank and UniCredit – have all signed on once again. They’re joined by ...

AlmaStone, an alternative trade and supply chain finance provider active in the soft commodities sector, has made two new hires as it works to expand its origination capabilities in Africa and Latin America. Sam West joined as head of origination for Africa last week, and is tasked with developing the firm’s existing portfolio on the continent, with a focus on corporates in the agri-business and soft commodities space. West moves from FBN Bank UK, where he held several different soft commodit...

HSBC has announced two senior moves after appointing Burcu Senel CEO of the bank’s operations in New Zealand, effective March 8. Senel, former global head of sustainable trade finance and global head of trade finance propositions within the bank’s global trade and receivables finance (GTRF) business in London, will run HSBC New Zealand from Auckland. ...

GTR can reveal. Shares in the Singapore-based fintech plummeted in January after US short sellers claimed nearly two-thirds of Kratos transactions between June 2019 and August 2020 were carried out by companies The short seller report, published by newly formed hedge fund Phase 2 Partners, said it analysed records of Triterras transactions that are stored on the Ethereum blockchain, and produced data on who is using the platform, what cargo is being traded and the value of those sales. Based o...

Industry insiders are hopeful that access to funding and insurance will remain resilient across the wider supply chain finance (SCF) market, despite the disastrous collapse of London-based behemoth Greensill. Though Greensill’s demise is rooted in its exposure to GFG Alliance, a network of companies linked to metals magnate Sanjeev Gupta, its collapse last week was There had been hopes that despite Greensill filing for administration in a London court on Monday, private equity investors woul...

The tie-up, which GTR first reported last year, means that corporates with multiple banking partners will no longer have to provide ESG information in differing formats through bilateral exchanges, which is costly, time-consuming and inefficient. Instead, the inclusion of the ICC’s guidelines on the KYC registry provides an industry standard that means corporates will only need to complete and update a single form that they can then share with their banking partners. “Never before have env...