Agenda

26 May 2027
Plenary

Opening remarks

Plenary

After Hormuz — the working-capital hangover

Just-in-case is now a balance-sheet product. Freight, insurance and inventory moved together; the pile is still there.

  • How long do strategic stocks stay on the book?
  • Who funds the carry: trader, producer, or the state?
  • When does a buffer become a stranded line?
Plenary

Critical minerals: offtake is the new RCF

Policy is writing offtakes faster than clubs are writing RCFs. Buyer platforms, price floors, ECA-wrapped metals.

  • Can you bank a mine on a policy offtake?
  • Traders as quasi-ECAs: prepay vs agency cover
  • Why these tickets still look small next to the oil super-RCFs
Plenary

Getting the hold down: distribution, private credit, and the $50–250m book

The club flew to size. Everyone else still has to sell down, package, or bring in non-bank money. Built for heads of distribution, private credit, and the banks that need a take-out story for credit committee.

  • Originate-to-distribute as a real product, not a slide
  • What private credit will look at that the syndicate won’t
  • First default cycle: who still picks up the phone
Workshop

ECA clinic: how the cover actually gets done

Not a panel. Short case walk-throughs with agencies and the banks that use them — tenors, offtake guarantees, trader-as-exporter, what dies in due diligence.

  • When ECA is cheaper than another RCF line
  • What a complete file looks like in 2027
  • SME / mid-book: myth or mandate?
Plenary

Two prices, one cargo: CBAM as a cash line

Same coil, two worlds. Carbon as landed cost, haircut, and a certificate you finance.

  • Who owns the number on the term sheet?
  • Can you repo a CBAM-adjusted cargo?
Workshop

Docs that close: borrowing base, eBL, and the 100-page KYC

Law firms and ops leads, not philosophy. What credit will sign, what the port still wants on paper, where AI helps and where it forges.

  • Transfer / distribution language that actually works
  • eBL vs the agent at the berth
  • Fraud 2.0 in the file
Plenary

Lunch

Plenary

CPRI marketplace: capacity, wordings, and going direct

Headline capacity might look plentiful, but usable capacity for your name, in your corridor, is a very different story.

Bringing insurers, brokers and treasurers into one room, with a focus on practical conversations and real opportunities rather than presentations.

  • Engage before the contract: how early conversations can move beyond a simple yes or no.
  • Chokepoint wordings: understanding what is actually covered and what pays when it matters.
  • Credit insurance as growth capital: using it to unlock opportunities, not just as an additional layer of protection.
Plenary

Sovereign offtake: food, fuel, and the ministry as client

Food security and energy security increasingly sit on the same term sheet. Bringing together the desks financing GASC, EGPC, fertiliser and strategic stock programmes, alongside the banks and ECAs looking to build those relationships.

  • Rethinking agency mandates: why agricultural commodities like wheat are still treated as 'soft' in some financing structures.
  • Local paper vs international clubs: understanding where the opportunities lie and how different financing structures work.
  • Getting to the offtaker: how to build the right relationships and get in front of the decision-makers.
Plenary

Finance feud: global heads

Two teams, a buzzer and a series of quick-fire challenges covering the big debates in commodity finance. From stockpile vs utilisation to offtake vs RCF, private credit vs club, carbon certificates vs bills of lading, and CAMPARI vs the model. A fun, competitive way to test industry knowledge and challenge conventional thinking.

Plenary

Closing remarks

27 May 2027
Plenary

Opening remarks

Plenary

TXF Data: 2026 was not 2025

Europe may have lost some momentum, but Africa and Australasia are telling a different story. Average deal sizes remain significant, but how does market sentiment compare with what is actually getting financed and closed?

Plenary

What still gets a yes: treasurers meet credit

Bringing together trading house and producer treasurers with TCF heads to get straight to the point: what is bankable this year, where the limits are and what it takes to get a deal through credit.

  • Inventory vs receivables: financing in a two-price market.
  • Mid-market: what lenders need to see.
  • ECA, CPRI or no deal: finding the right route to financing.
Plenary

Chokepoint finance: ships, ports, and the payment that fails

Rerouted trade is putting pressure on correspondent banking. Managing risk means hedging the corridor, not just the cargo.

Workshop

1:1 structuring clinic

Pre-booked 15-minute meetings across banks, ECAs, insurers and law firms. A practical way for the sell-side to turn attendance into valuable new connections and business opportunities.

Plenary

Africa’s quiet year of size

Fewer players, but larger sovereign and strategic deals. Is this a one-off energy shock or the start of a longer-term financing corridor? And where are DFIs stepping in to support the mid-market deals that London-based lenders are leaving behind?