Page 34 - Personal Data Held News Today

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...

The Islamic Development Bank (IsDB) and its trade finance offshoot are set to commence the second stage of a US$2.3bn coronavirus support package to boost exports in 57 member countries.    After disbursing some US$250mn in health-related assistance last year during the first step of its coronavirus support strategy, the bank says it has signed an agreement with the Islamic Trade Finance Corporation (ITFC) to begin a second stage, focused on trade.    The latest�...

The African Export-Import Bank (Afreximbank) has partnered with tech-based working capital solutions provider Demica to roll out a new supply chain finance (SCF) platform across Africa. The collaboration will see Demica license its technology platform to Afreximbank on a white-label basis. The solution will focus on approved payables financing, with coverage extended across Afreximbank’s member countries. “This is an innovative partnership with Demica and leading African financial instituti...

Overseas energy financing from Chinese policy banks plummeted last year in the wake of the Covid-19 pandemic, a new report says, as pressure builds on Beijing to drop its zest for coal projects in developing countries. According to data from Boston University’s Global Development Policy Center (GDPC), funding from the China Development Bank (CDB) and the Export-Import Bank of China (Cexim) plunged by roughly 43% in 2020. Having funded around US$8.1bn in loans for energy projects in developing...