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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 ...
Nordea has hired Pär Ullbro as its new head of trade solutions, starting in March 2022. Ullbro has spent the last 14 years at Norway’s DNB, most recently as head of working capital solutions for Northern Europe. At Nordea, he will report to head of transaction banking Erik Zingmark. “Pär comes with extensive experience in ...
The supply chain bottlenecks that have become a fixture of global trade will persist well into next year, according to industry forecasts, but are likely to ease by the start of 2023. A sudden plunge in goods demand at the beginning of the coronavirus pandemic last year, followed by an equally sharp revival, helped set ...