As customers of Deutsche Bank’s structured commodity trade finance (SCTF) services return for more liquidity, flow highlights key deals from 2018 in a journey from the North Sea to Greater China
Each year at Deutsche Bank, the trade finance structuring year tells a different story and we share our take on the market with our commodity finance community. You can read about some of 2017 deals here.
The bank has led on reopening the Ukrainian market with metals and mining corporates Metinvest and Ferrexpo, and turns up on a regular basis for the African elephants such as Angola’s Sonangol. In addition, the German commitment to China (home to their first overseas office in 1872 (Shanghai)) is on show again with the prepayment facilities for Hangzhou Zhengcai, Fangyuan Group and Shandong Qingyuan.
When it comes to the black stuff, Deutsche Bank has also played a leading role in reserves-based lending (RBL) transactions for independent North Sea producers such as Neptune Energy in France, and Vår Energi in Norway.
In addition to these more high profile transactions are those that are less visible. This includes, says John MacNamara, Global Head of Structured Commodity Trade Finance, “the bank’s much less visible steady journey around the traders from the big independents in Switzerland, the US and Singapore, to the in-house trading subsidiaries of the big natural resources producers and importers, stepping up in their syndicated borrowing bases, prepayments and revolving credit facilities, increasing bilateral flow lines, and generally working hard to put more firepower into play in more places, whether emerging or developed markets”.
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