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Dec 18, 2023 | Subscribe with us today
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Welcome to the last TXF Weekly of 2023! Scroll down for this week's export,
trade and commodity finance news, data insights and deal information. 

🏆 Just two weeks left to submit your deals for TXF's Perfect 10 Awards 2023!
Nominate the deals you believe deserve to win big. Click here to get started! 🏆

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OECD officially extends 95% export finance coverage

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Written by: Ralph Ivey, Reporter

The news the OECD has officially extended a Common Line agreement allowing ECAs
to offer 95% coverage on export contracts is a boon for the export finance
community — but not for the private insurance market.

Read the full article here

Recent news:


TXF and Proximo speak to Daan van Alem, senior project finance manager at
Northland Power, about the intricate financings for Northland's Baltic Power and
Hai Long offshore wind farms, as well as the company's burgeoning project
pipeline. IXM, the Geneva-based metals trader, has completed a deal for an
oversubscribed $850 million revolving credit facility (RCF). The EBRD is
considering a loan of $118.6 million (€109 million) for a hospital public-
private partnership project in Kazakhstan.

In market moves, Norton Rose Fulbright elevates trade and commodity finance
specialist, Tudor Plapcianu, to partner.

 

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Renewables on the rise but oil & gas still needs significant decrease

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Source: TXF Intelligence

Data snapshot of the week: The export finance community has increased its
support for renewable energy projects over the past five years, according to TXF
Intelligence. Conversely, the demise of oil and gas export finance volumes over
the same period has been more significant. But not significant enough to meet
the lofty ambitions of COP28. Especially when compared to the recent uptick in
oil and gas volumes — from 2022 to 2023 ECA oil and gas support increased by
nearly $7 billion. However, it is important to note, ECA support for renewable
volumes for 2022 and 2023 outstripped the fossil fuel sector.

Increased supply chain costs have slowed the pace of renewables growth in the
past year and although the overall volume of deals for 2023 is higher than it
has ever been, there needs to be a greater acceleration of renewable growth —
and more importantly a significant decrease in oil and gas production — to
realise the race to net zero by 2050.
 

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Shanghai Electric Corporation secures $2bn for Thar Coal-Fired Power Project

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The $2 billion financial close was reached for the Thar coal-fired power project
led by Shanghai Electric Corporation. Shanghai Electric Group Corporation
sponsors the project, while Sino Sindh Resources Limited (SSRL) serves as the
coal supplier from Thar Block-1.

Borrower: Thar Coal Block-I Power Generation (TCB-I)
Industry: Power/Coal-fired
Volume: $2bn
Structure: ECA-backed buyer credit & DFI/MDB Direct Loan
Financial close: 14/12/2023
Sponsor: Shanghai Electric Group Co Ltd
DFI/MDB direct lender: China Development Bank
ECA (guarantor): Sinosure - China Export & Credit Insurance Corporation

Full tranche and company details can be found here

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Shine a spotlight on your 2023 deals

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TXF Perfect 10 award winner. Search for your deals here and click the ‘Nominate’
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Our song of the week is For Emma by Bon Iver. Please follow our Spotify playlist
to listen to this song.
 
If you have any questions please feel free to email us
at intelligence@exilegroup.com.

Best,
 
Team TXF

www.txfnews.com

 

    

 

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