DZ Bank, DBS Bank and Standard Chartered Bank have closed a US$258m export finance facility deal with Bhushan Steel Limited (BSL), a steel manufacturing company in India. Euler-Hermes, the export credit agency (ECA) of Germany, has backed the facility.
The agreement between the three banks and BSL was reached following the successful arrangement of a Euler-Hermes guarantee offer. Under the terms, the ECA provides a guarantee for covering 95% of the political and commercial risks related to the loan facility.
Nittin Johari, director finance of BSL, said: “We are extremely pleased with the export finance facility arranged by Standard Chartered Bank, DBS Bank and DZ Bank. The excellent co-ordination and timely execution in completing this financing and obtaining Euler Hermes support by the banks makes this transaction a very special one indeed. With this financing, we look forward to pushing ahead with our expansion plans and the ambition to become a leading integrated steel producer in India.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more