SMBC has named Mitsuhiro Kawamura as the global head of its global trade finance department, effective April 1. Kawamura (pictured) was previously the Japanese bank’s global head of trade innovation and a regional co-head of trade in the Americas. He will be based in Tokyo. Kawamura will oversee the lender’s global trade finance business, including ...| Global Trade Review (GTR)
The high costs of offering global trade finance may cause some large lenders to scale back and open the way for more specialised and regional lending, JP Morgan’s Natasha Condon has said. “Being a big international trade bank is really expensive. It’s getting more expensive every year, and that means there are going to be ...| Global Trade Review (GTR)
Italy’s export credit agency Sace has agreed to cover a commercial bank loan worth US$600mn for food and beverage giant San Miguel, the latest deal signed under its booming untied programme. The facility, signed on March 27, is being financed by SMBC and backstopped with a guarantee from Sace. Sace is providing support under its ...| Global Trade Review (GTR)
Trafigura has closed syndicated European revolving credit facilities (RCFs) totalling more than US$5.6bn, which the commodity trader says will strengthen its ability to respond to market turbulence and volatility. The Singapore-headquartered trader announced today it had extended an existing three-year facility, initially launched in March 2022, by a further year, while also increasing its value ...| Global Trade Review (GTR)
Battery maker Northvolt has filed for bankruptcy in Sweden after failing to secure additional financing or investment, souring a big bet by banks and export credit agencies (ECAs) on European EV battery production. A pioneer of green battery production in Europe, the company filed for bankruptcy protection in the US last year after running ...| Global Trade Review (GTR)