Page 5 - Personal Data Held News Today

Commodities giant Glencore has refinanced its short-term revolving credit facilities in a US$6.5bn deal backed by 39 banks.  Glencore says the facilities were heavily oversubscribed, having launched at US$5bn but receiving commitments in excess of US$6.8bn. The deal echoes refinancing efforts last year that also attracted major interest from lenders.  The Switzerland-headquartered company says this ...

Exports from the Commonwealth nations could increase by as much as US$1.2tn in the next five years if trade reaches full digitalisation, according to a new report by the Commonwealth Secretariat. In its Quantitative Analysis of the Move to Paperless Trade, published this week, the secretariat says that if the 54 Commonwealth nations states implement ...

Citi has become the latest bank to roll out an ESG-focused trade finance proposition, with the launch of a sustainable trade and working capital (sustainable T&WC) loans solution in Europe, Middle East and Africa, Latin America and Asia Pacific regions. The bank says the solution will support clients with their sustainability goals, where the proceeds ...

GTD Solution, the Maersk business unit responsible for TradeLens, the blockchain-powered global trade platform, has named Kim Spalding as its new CEO, effective April 4. Spalding replaces Mike White, who is retiring at the end of the month. She joins from Google, where she most recently served as general manager and product leader for local ...

UK Export Finance (UKEF) has agreed to guarantee a £400mn sustainability-linked facility for a developer of hydrogen technology, as the government works to strengthen Britain’s role in global clean energy supply chains. The export credit agency will cover 80% of a five-year loan from Bank of America, HSBC and SMBC to Johnson Matthey, a London-headquartered ...

The number of Russia-flagged vessels engaging in suspect shipping practices has soared in recent weeks, new data show, as Russian exporters explore ways to dodge western sanctions and overcome reputational concerns over their goods. Within weeks of Moscow’s full-scale invasion of Ukraine, the US and its European partners slapped retaliatory sanctions on Russia’s largest banks, ...

Specialist re/insurance broker Miller has hired Andrew Barr as a credit and political risks (CPRI) broker. Barr previously worked at Texel and Marsh, where he spent four years and seven years respectively. Based in London, in his new role he will be tasked with helping financial institution clients obtain risk mitigating and regulatory compliant credit ...

A group of traditional owners in Australia has begun legal action seeking an injunction to prevent South Korea’s export credit agency and export-import bank from supporting a giant gas project. Representatives of the Tiwi Islander and Larrakia indigenous peoples in northern Australia say they weren’t properly consulted by the developer of the Barossa gas project, ...

A UK Court has rejected an attempt by Gazprombank’s Luxembourg subsidiary to force a Swiss-headquartered commodities trader to repay millions of dollars in alleged missed payments, setting the stage for future court action. The UK High Court of Justice has dismissed Bank GPB International’s summary judgement application to secure an immediate payment on dozens of ...

Saudi British Bank (SABB) has completed its first sharia-compliant inventory finance transaction, as it works to further develop its offering for importers and re-exporters in the Kingdom of Saudi Arabia (KSA). As part of a deal signed in March, SABB is providing finance to Saudi Arabian dairy company, Al Safi Dairy, with funding supporting the ...