Over the last few weeks there have been several announcements from leading cash management banks about various projects and new initiatives, including:

• Deutsche Bank has announced that it has, together with Duferco, successfully arranged a USD800 million structured steel pre-payment term loan facility for China-based Tangshan Iron & Steel Group Co., Ltd (‘Tangsteel’), making it the largest structured commodity trade financing facility ever completed for a Chinese company.  Deutsche Bank acted as the Coordinating Mandated Lead Arranger and in close consultation with Duferco, secured the participation of ten international banks to structure the 24-month term loan, which will facilitate the pre-payment of steel product exports. (December 2013)

• IFC, a member of the World Bank Group, and Standard Chartered Bank, have signed a risk-sharing facility, which will increase the amount of renminbi denominated trade finance available to Chinese banks, as well as corporates and businesses in China and across Asia and other emerging markets involved in imports and exports to China. This marks IFC’s first venture into renminbi denominated cross-border trade finance, building on the success of IFC's global trade programmes. (December 2013)

• Bank of America Merrill Lynch Global Transaction Services (GTS) has completed the implementation of a customized transaction services solution for Unitas Capital, a Hong Kong-based private-equity firm. The integrated solution was tailored for Unitas Capital to support the recently announced sale of an equity investment. Implementation took two weeks (!!), including the facility for opening and maintaining escrow accounts. The bank also provided the PE firm with other services including foreign exchange and fund settlement. (December 2013)

• Standard Chartered takeover of Absa's South African custody and trustee business in April this year: the two banks have completed the transfer of clients and staff into Standard Chartered's existing securities services division in South Africa. (December 2013)

• Bank of America Merrill Lynch Global Transaction Services (GTS) has implemented its CashPro Accelerate® reporting solution for China Airlines, Taiwan’s largest international carrier. (December 2013)