TFR Deals of 2016 Winners Announced

Awards | 26 January 2017

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Deals got done in 2016 despite a challenging environment and some of those deals really stood out. It gives us great pleasure to be able to offer deal makers across the world an opportunity to shout about what they do best – make global trade flow.

The 20 winners of our Deals of the Year for 2016 comprised 15 commercial and five Export Credit Agency (ECA) and multilateral agency winners. Judges also highly commended 10 commercial deals and five ECA/multilateral agency deals. The winners range from the brave, to the complex, to the persistent and the innovative. Others, while not necessarily complex or innovative, were awarded as they were done in the face of serious challenges.

The panel of judges was drawn from senior experts in the global trade finance industry and I’d like to extend a personal note of thanks to them all for their considerable efforts. John Ahearn, Dominique Beretti, Jean-François Lambert, John MacNamara, Mike Marnell, Robert Parson, Karel Valken and Paul Wollny all took a lot of time to cogitate and digest what have been a very interesting spread of deals.

We had fewer submissions than last year (over 120 separate deals as against over 150), but that’s not surprising in the current environment. I’d also like to thank the communications teams at the banks who put in such efforts to explain and highlight what it is their teams do well.

The winning and highly commended deals will feature in February’s special deals edition of TFR. We’re in the process of writing up the deals now and if your deal, or a deal you worked on in whatever capacity, is among the winners or highly commended and you’d like to shout about it and add some comment or insight, please don’t hesitate to get in touchwith me at Katharine.Morton@wilmingtonplc.com.

The winning deals will be also discussed in depth and awards presented at TFR’s cross-border trade forum on 9 March in Canary Wharf, London, so do join us there. 

Box-out 1

TFR Deals of 2016 – Winners

 

Borrower Nominated by Deal type Amount Region
Bibby Financial Services  HSBC Multi-currency receivables finance facility €150m Europe
Dongying Fangyuan  Societe Generale, Deutsche Bank, ING Syndicated term loan US$385m China
Drax Power HSBC Invoice purchase facility £100m UK
Ekpac  HSBC Receivables finance US$27m China
Global Garden Products (GGP) HSBC Multi-currency receivables finance  €80m Europe
Government of Sultanate of Oman Societe Generale Pre-export finance US$4bn Oman
Kernel ING Syndicated pre-export financing US$300m Ukraine
Lundin Petroleum  Natixis Multi-currency revolving borrowing base facility   US$5bn Norway
Lynx Resources Societe Generale Payables finance US$75m term loan, €5m working capital facility Macedonia
Maxum Foods  ANZ Cross border borrowing base finance facility US$9m Australia and New Zealand
Noble Group Societe Generale Structured trade and commodity finance US$2bn US
NWK Agri Services  Rabobank Pre-export finance US$20m Zambia
Serial System  BNP Paribas Receivables purchase program US$130m Asia Pacific
Siberian Anthracite  ING Pre-export finance US$350m Russia
Tengizchevroil Finance Company Deutsche Bank and Societe Generale Pre-export finance US$3bn Kazakhstan

Box-out 2

TFR Deals of 2016 – Highly commended
Borrower Nominated by Deal type Amount Region
Agfarm ANZ Repurchase facility US$103.5m Australia
CBG Bauxite Natixis and Societe Generale Pre-export finance, term loan and revolving credit facility US$823m Guinea
Dag motorcycle  Ecobank Import finance US$1.6m Africa
Ghana National Petroleum Corporation HSBC Stand-by letter of credit US$500m Ghana
Gunvor ABN AMRO and Rabobank Borrowing base facility US$500m US
Multitan Ecobank Pre-export finance and borrowing base facility  US$3.4m and Nigerian naira equivalent of US$0.6m Nigeria
Nidera  ING Syndicated term loan facility US$110m Romania
Reliance Industries Limited  HSBC Digital export trade transaction US$250 (projected) India
Shandong Qingyuan  ING Syndicated structured facility US$191m China
Urban Volt Susi Energy Efficiency Fund Receivables finance with SPV €30m Ireland

Box-out 3

TFR Deals of 2016 – ECA Winners
Borrower Nominated by Region Amount ECA
Egyptian Electricity Holding Company Deutsche Bank and Santander EMEA €1.1bn Euler Hermes
Electricity Company of Ghana IFC Ghana US$50m IFC
 Lotte Chemical  BBVA  US US$1.29bn KEXIM & Ksure
Qaiwan   Deutsche Bank EMEA US$75m Coface
Socialist Republic of Vietnam IFC Vietnam, Asia Pacific US$357m IFC

Box-out 4

TFR Deals of 2016 – ECA highly commended
Borrower Nominated by Region Amount ECA
Dudgeon offshore windfarm Societe Generale UK £1.3bn KfW Ipex
Enel Green Power Santander Brazil, China Italy US$111 Sinosure
Kurdistan regional government J.P. Morgan Kurdistan region of Iraq US$34.8m UKEF
Nitron Group Corporation  IFC Africa and Latin America  US$150m IFC 
Song hau Citi Vietnam US$987m Kexim, K-sure
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