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Infrastructure

8 May 2019   Projects, Macro, Policy, Americas, Brazil

HSBC Brazil CEO Sees Funding Opportunities as Turnaround Continues

As key reforms progress through the various arteries of Brazil’s governments, most investors and lenders remain resolutely optimistic about the market’s prospects – few more than HSBC, which recently announced its intention to significantly expand its presence in the country and re-establish itself as one of its top international banks.

Andean Borrowers Cut Through Volatility to Win Big at Bonds & Loans Latin America Awards

Despite a slowdown in some of the Andean region’s powerhouse economies and souring emerging market investor sentiment, many borrowers were unperturbed and moved into markets with inaugural, innovative transactions through much of last year. We take a closer look at some of the transactions originating from the region that won top prize at this year’s Bonds & Loans Latin America Awards.

Foreign Investment Could Help Philippines Bridge Infrastructure Spending Gap

The ASEAN economy opened up the 2019 EM sovereign bond season with an impressive USD1.5bn placement, but generous spending plans for the infrastructure push and a reshuffle atop the Central Bank risk blowing the Philippines’ deficit out of control – unless capital inflows catch up.

Russia Gears Up for Huge Infrastructure Development Push Under Putin’s “May Decrees”

The Russian government is developing a USD400bn roadmap for a massive economic overhaul in a bid to boost living standards and spur activity in key segments of the economy. Attracting that kind of investment is already looking like a mammoth task, particularly given some of the recent political moves clouding the country’s business climate.

After Elections, Policy Uncertainty, Liquidity Concerns Weigh on Infrastructure Outlook in Americas

The dust is beginning to settle following one of the busiest election years in Latin America’s recent history, but concerns around policy reversals and a lack of sufficient liquidity in certain markets could mean infrastructure developers and investors focused on some of the region’s largest economies may not particularly like what they see. The early signs are worrying, to say the least.

Viscous Fiscus: In Pursuit of Reform, South Africa Takes One Step Forward, One Step Back

Markets have hung their hopes on the upcoming 2019 election and the avoidance of a blowout at troubled state-owned utility Eskom as potential reasons for optimism in South Africa, but without a monumental shift in mindset, or an end to the factionalism that has increasingly defined the executive and the ANC, both reform and growth will remain elusive.

China’s Real Estate: EM Analysts on Edge as Great Wall of Redemptions Approaches

With spreads on record volumes of bonds issued by China’s real estate developers widening to near 2009 levels and a softening of the Chinese economy taking hold, some analysts have raised alarm bells – even going so far as to question whether a bubble, which some allege to be brewing, or other big shock to the sector could catalyse the next financial crisis. There is, however, good reason to believe those fears are overblown.

ING: A Global Perspective on Latin America’s Commodity and Infrastructure Markets

Despite a bumpy ride and political uncertainty still weighing heavily on the region’s biggest economies, Latin America remains one of the more rapidly developing regions and holds much promise for global banks. We speak to Willem Sutherland, Head Latin America for ING, about the opportunities and the risks he sees on the horizon in the region.

BlackRock Sees Benefits of NAFTA 2.0 and Government Support for Mexican Infrastructure

While Mexican markets remain on edge with regards to continuity of projects under the new regime, international players, like Blackrock, are encouraged by solid fundamentals and a busy infrastructure pipeline in Mexico and across the region. Bonds & Loans speaks to Juan Alberto Leautaud, the Managing Director, Real Assets and Infrastructure, at BlackRock Mexico.

MTP CFO: Scrapped Airport Project Precipitates Uncertainty for Mexico Corporates’ Funding Plans

Top-tier corporates like Mexico Tower Partners are fairly well-capitalized, with a relatively healthy balance sheets and robust funding plans in the pipeline. But as the new government continues to renegotiate terms with bondholders for the new Mexico City Airport financing, uncertainty in the corporate space lingers. We speak to Gonzalo Cornejo, Chief Financial Officer, Mexico Tower Partners, about the Treasury’s focus areas for the next year.

 

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