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Infrastructure

16 Jul 2018   Policy, Global

Central Banks, Sovereign Investors Change Tack on Investing in EM

Sovereign assets and central bank reserves are increasingly finding their way into alternatives and emerging market assets in a bid to boost returns, according to an Invesco survey of 126 sovereign funds and 65 central banks that sheds light on how asset allocations have shifted in recent years.

SWOT Analysis: Mexico Elections and Beyond

As Mexico voted in the new president, Bonds & Loans met with a broad range of local finance leaders, corporate chiefs and state officials to discuss the market outlook and get a sense of the risks and opportunities on the horizon.

CASE STUDY: AfDB Extends Euro Curve with EUR1.25bn 10-year Social Bond

On 16 May 2018, the African Development Bank (AfDB) successfully priced a EUR1.25bn 10-year Social Bond transaction. The issue follows the inaugural EUR500mn 7-year Social Bond issued in November 2017.

As Economy Stumbles, Argentina’s PPP Pipeline Gains Renewed Focus

Tasked with generating over USD26bn in new investment over five years, Argentina’s Public-Private Partnership programme has been hailed by international experts and bankers as world-leading in both structure and ambition. But as the country’s economy – and currency – continue to stumble, fresh questions are being raised about whether it will live up to expectations.

Dar Al-Arkan CFO: “We are facing 4 years of clear skies to use our operational cash flow”

The Saudi real estate developer continues to be one of the most active corporates on the GCC Islamic finance markets, with its latest USD500mn sukuk pushing the total value of the company’s Shariah-compliant instruments listed on Nasdaq Dubai to USD1.85bn. Bonds & Loans speaks with Mika Toivola, Chief Financial Officer, Finance Group, Dar Al-Arkan, about the latest trends in the sector and the company’s funding plans.

Blockchain and the Capital Markets: A Love Story

Driven by the need for greater transparency and efficiency, blockchain is making its first inroads into the capital markets and bank operations more broadly. The technology could be a gamechanger for emerging markets, according to CFOs and analysts.

As Chile Elects a Conservative, is Latin America Cooling on Populism?

Chilean politics is often seen as a bellwether for deeper shifts occurring across the continent’s political scene. The recent election of the “old new” president Sebastián Piñera is in line with the apparent swing to the right seen in recent years – but, more importantly, indicates that politics in Latin America is becoming more nuanced, predictable and mature.

Petroperú CFO: Interplay of Bank, Bond Financing Key to Talara Refinery Funding

The Talara Refinery is Petroperú’s flagship project and one of the most strategically important infrastructure initiatives in Peru’s oil and gas sector. We speak with Petroperú CFO Carlos Adrian Linares Penaloza about the funding strategy behind the project, and how the company overcame some delays and roadblocks along the way.

Paraguay’s New Finance Minister on Developing the Local Capital Markets and Green Bonds

Paraguay’s nascent capital markets sprang to life this year off the back of the country’s first cross-border bond sale in four years, part of the government’s strategy to develop the local market. The country’s industrial base and infrastructure ambitions also positions Paraguay very well for the green bond market, potentially opening the South American country up to vast new pools of liquidity. Bonds & Loans speaks with Lea Giménez, the country’s recently appointed Minister of Finance, on this and more.

Signal Versus Noise: The Case of Brazil

Brazil offers a good example which illustrates the difference between signal and noise in investing. A complete mess from a journalistic perspective, Brazil has been one of the best investments in global fixed income markets and continues to offer an attractive investment proposition. We examine why countries with so much bad news can be such excellent investments.

 

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