Lloyds Bank has completed its first transaction using an electronic Bill of Lading (eBL) on the WaveBL trade documentation platform, in a cross-border deal that featured entirely digital exchanges of documentation. The deal closely follows Lloyds Bank becoming the first UK bank to join the WaveBL platform in February 2024, and involved Somerset-based building material […]
The CEO of the United Kingdom’s export credit agency has this week visited Togo and Benin, meeting government ministers in both countries to signal UKEF’s readiness to extend up to £4bn of support for local projects. Last year, the UK’s exports to Togo were worth £287m whilst its exports to Benin were worth £58m. UKEF […]
A deal supported by the UK government’s export credit agency has landed a £4.5m export contract for structural steel firm Severfield. Headquartered in York, Severfield has five manufacturing sites in the UK and two in mainland Europe. Severfield operates in a range of sectors including infrastructure, transport, and commercial, working on high-profile projects such as […]
UK Export Finance (UKEF) has helped Hampshire renewable energy developer Hive Energy secure a £19m bank guarantee facility to fuel its international growth. The new guarantee facility will allow the business to deliver new and existing renewable energy projects with an immediate focus on Turkey and Serbia. Hive Energy develops renewable energy projects, such as […]
British skiwear disruptors OOSC Clothing are set for global expansion with a government deal which secures them a £1.4m export finance package. OOSC was started by two friends from Swansea University and now exports to over 110 countries from their regional websites including sales to 49 separate US states. UK Export Finance has supported HSBC […]
To meet the increasing demand for supply chain finance in the Asia-Pacific region and deliver industry leading customer experience, Crédit Agricole CIB (the “Bank”), has launched the new Optim Receivables and Supply Chain Finance (RSF) platform, white- labelled by Demica, the market leading supply chain finance fintech. A major milestone towards the Bank’s ambition to […]
Lloyds Bank has become the first UK bank to join the WaveBL electronic trade documentation platform, unlocking new trade efficiencies and sustainability benefits for its clients by using electronic Bills of Lading (eBLs). Bills of Lading are a critical document in international trade. They are issued by a carrier when a seller dispatches goods to an end […]
UK Export Finance (UKEF) has announced a guarantee for up to $100m of new support to help a Northern Ireland tech firm meet growing international demand for its products and services. Banbridge-based EOS IT Holdings has received a guarantee from UKEF to access up to $100m from an HSBC UK Standby Letter of Credit facility. […]
The financing package comprises a €1.027bn loan guaranteed by ECAs and a separate €220m commercial loan facility supported in part by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). MUFG was appointed the sole mandated lead arranger, coordinator, structurer and agent bank by the Turkish Ministry of Treasury and Finance. UKEF […]
Dr. Tom James, CEO of TradeFlow stated: “TradeFlow is pleased to start 2024 with this announcement that testifies to our strong focus on digital innovation and the digital economy. Working with the Obligate team to launch a bond through their platform further highlights the commercial efficiencies that can be achieved by leveraging Blockchain technology for […]
