Page 21 - Personal Data Held News Today

Commodity trading giant Gunvor has secured a US$1.1bn syndicated borrowing base facility supporting its global LNG operations, in a deal described by the company as a first of its kind for the market. The facility is structured to support the working capital needs of the Geneva-headquartered company’s LNG activities globally, as well as supporting its ...

HSBC and Walmart have introduced science-based emissions reduction targets into their sustainable supply chain finance (SSCF) programme, which sees suppliers who meet sustainability goals get cheaper financing. Set up in 2019, the SSCF programme for Walmart suppliers was one of the first of its kind. It was developed as a means to support the US ...

London-headquartered fintech Beacon plans to use open banking to assess customers’ bank account data in real time, enabling it to improve its credit offering to SMEs, the company has revealed.  Beacon, which provides a digital supply chain and freight platform, will also use other technology to access clients’ live accounting information.   The company’s head of ...

Blockchain platform MineHub has introduced a new solution that will enable its users to certify and report ESG credentials such as direct and indirect carbon emissions for the products they sell, buy and finance. Launched in 2019, the MineHub platform focuses on trade operations and document flows between metals and mining companies. It allows parties involved in ...

The International Chamber of Commerce (ICC) has formed an advisory board comprising intergovernmental, policy and industry actors in the global trade and trade finance industry, in order to accelerate progress on the worldwide legal reform needed to enable digital trade. Launched today under the auspices of the ICC’s Digital Standards Initiative (DSI) governance board, the ...

China’s commitments to financing in Africa are shifting away from giant infrastructure developments and towards developing stronger trade flows and commercial investments, analysts say. At the Forum on China-Africa Cooperation (Focac) in late November, the country unveiled an action plan that included around US$40bn of commitments in the form of trade finance, commercial investments and ...

Troubled commodities trader Rhodium Resources lost insurance cover totalling more than US$580mn last year, leaving it unable to pay creditors and facing the threat of insolvency, court documents reveal.  Singapore-headquartered Rhodium fell into serious financial difficulties in August 2020, according to documents submitted to the city-state’s High Court in December that year by its chief ...

Global commodities trader Mercuria has closed US$1.3bn-worth of revolving credit facilities (RCFs), drawing in support from a group of 31 lenders. The agreement is comprised of a one-year facility with an offshore Chinese renminbi option, a one-year swing facility, and a three-year RCF. Financing will be used for general corporate and working capital purposes, as ...

Just weeks after the OECD moved to relax down payment rules for transactions involving export credit agencies (ECAs) in the developing world, questions have been raised over the reasons behind the decision. Last month, the OECD Arrangement on Officially Supported Export Credits announced it would temporarily slash the down payment requirement from 15% to 5% ...

Pressure is building on the Export-Import Bank of the United States (US Exim) to formally cull support for oil and gas, after the Biden administration called for an immediate end to overseas fossil fuel financing. In a diplomatic cable sent to US embassies earlier this month, a leaked version of which has been seen by ...