January's newsletter: From the world of export and commodity finance

2025 is here, and we're starting it with fresh insights into export and commodity finance! This month, TXF reflects on the trends that reshaped the market last year—from the rise of project finance driving green hydrogen and small modular reactors to shifts in sovereign finance. Key deals like ChemOne Group’s $3.5 billion ECA-backed package and Mercuria’s $1.69 billion syndicated facilities are just the beginning. Looking ahead, our Miami event (March 31–April 2) promises exclusive opportunities to explore the hottest structured trade and export finance deals across the Americas. Will we see you there?

If you have any comments or questions, please feel free to drop a comment, message us, or reach out to us at [email protected]. If you would like to schedule a consultation with us or learn more about data and how a TXF subscription can enhance your business, please get in touch.

2024: Export finance trends

TXF has wrapped up the major trends in the export finance market in 2024. There are a few to keep an eye on this year too.

Read more

Latest news in export and commodity finance:

• US Ex-Im has approved $527 million to the government of Guyana to support a gas-to-energy project to double the country’s installed electric capacity.
• ChemOne Group's Pengerang Energy Complex (PEC) has successfully negotiated terms on an ECA-backed $3.5 billion financing package. Pricing on the 16-year loan is high at at...
• KoBold Metals, the US-based mining start-up backed by billionaires Bill Gates and Jeff Bezos, has raised $537 million in a Series C funding round.
• The OECD has ostensibly declined to renew a Common Line - temporarily introduced in response to Covid market disruptions - increasing the maximum available cover on export finance transactions to 95%.

Spotlight deal of the month: Mercuria closes $1.69bn syndicated facilities

Mercuria has successfully closed its USD 1.7 billion equivalent syndicated term loan and revolving credit facilities in Asia. The facilities include a one-year USD revolving credit facility with a revolving credit/swingline option, a new one-year term loan credit facility in Offshore Chinese Renminbi (CNH), and a three-year USD revolving credit facility, each with two optional 12-month extensions.

Full tranche and company details can be found here

Project finance accounts for nearly half of ECA business in 2024

In 2024, project finance is taking a central role in export finance as sovereign finance declines, driving support for emerging technologies like green hydrogen and small modular reactors, though addressing technology risks and expanding green projects will be crucial for sustained growth.

Continue reading here

Bringing you access to the hottest deals in Structured Trade & Export Finance across the Americas!

Join global leaders like Cofides, CDB, U.S. International DFC, CESCE Credit Insurance, EllisDon Capital, Siemens Energy, IFC, Manulife, and SMBC at our Miami event, March 31–April 2. Explore how agencies are driving transformative investments in Latin America's infrastructure and renewable energy sectors, with insights into their evolving roles, strategic partnerships, and impactful initiatives. Register by January 10th to save with our Super Early Bird offer!

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As we wrap up this newsletter, we'd like to share this month's featured song, All Or Nothing by Small Faces. Follow our Spotify playlist to listen now.

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Best,

Team TXF