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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 ...