Financing
Earth Capital Partners to launch $5bn sustainability fund
Former chief executive of Man Group, Stanley Fink, is chairing an environmentally focused fund management company entitled Earth Capital Partners that aims to raise $5 billion over the next five years.
CFOs outline financial challenges for 2009
Credit capacity constraints will be the greatest financial challenge for the oil & gas industry in 2009, according to 57% of chief financial officers (CFOs) in the sector.
Commodities will boom despite downturn, says Jim Rogers
Commodities will be the only market safe from the economic downturn, according to investment guru Jim Rogers.
Constellation closes credit facility
Constellation Energy has closed on a $1.23bn 364-day credit facility with UBS Loan Finance and RBS Securities Corporation.
Trafigura secures $200mn credit facility
Commodity trader Trafigura has today announced the closing of a $200 million syndicated revolving credit facility, which will serve as a refinancing of an existing one year $175 million facility implemented in 2007.
Energy sector rivals banking for big bonuses
No longer banking’s poor relation, the energy sector is looking increasingly attractive to job seekers as salaries have increased by 12% and average bonuses have risen by a record 21% in 2008, according to consultancy group GRS.
Dry bulk freight rates on a sinking ship
A combination of the credit squeeze and dwindling demand for raw materials has seen dry bulk freight rates slump to levels not seen since 2002. Peter Norfolk at SSY charts the fall
VeraSun Bankruptcy Highlights Tough Ethanol Market Say Experts
VeraSun Energy’s latest financing package may have given it the necessary relief to continue operations, but its bankruptcy filing indicates times are extremely tough for the ethanol industry, with more casualties expected, experts say.
Close of Constellation credit facility extended
Constellation Energy’s credit facility with UBS and RBS will now close on 26 November 2008 with commitments from the banks expected to total between $1bn and $1.25bn.
JP Morgan takes DME stake
JP Morgan has taken an undisclosed equity stake in the Dubai Mercantile Exchange (DME).
Mizuho and Ambrian team up for LME brokerage
Mizuho Securities USA, the US securities and futures arm of Japan’s Mizuho Financial Group, has agreed to cooperate with Ambrian Commodities, a subsidiary of London-based natural resources investment bank Ambrian Capital.
Business as usual for Merrill as BofA eyes prize
Merrill Lynch may have made mistakes in the credit market, but its commodity franchise is a real prize for its prospective owners, finds Energy Risk
US bailout bill heralds eight year tax credit extension for solar energy
It was good news for the solar energy industry as it was given an eight year investment tax credit (ITC) extension in the financial bailout bill passed by US House of Representatives on 3rd October.
EDF Trading to acquire Eagle Energy from Lehman Brothers
London-based EDF Trading has agreed to purchase Eagle Energy Partners, a Houston-based energy marketing and services company acquired by Lehman Brothers in May 2007.
Enhanced trading platform launched in US
Elysian Systems has released a new version of its electronic trading platform, called Liquid 4, which can accommodate online trading in energy, commodities, fixed income and financial instruments.