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CEO CFO Insights

21 Mar 2019   Policy, Americas, Mexico, Latin America

Scrapped New City Airport, Struggling Pemex Dominate Discussions at HSBC Mexico Roundtable

Mexican borrowers are gradually adjusting to the new market environment that has emerged since the inauguration of Andrés Manuel López Obrador, and amid broader emerging market volatility driven by the rise in global interest rates. Nevertheless, CFOs at a Breakfast Roundtable hosted by HSBC and Bonds & Loans in Mexico in February have raised important questions about some of the new administration’s policy decisions, highlighting the need for clear, consistent and transparent decision-making as essential in their bid to secure stronger growth and investment.

SA Institute of Race Relations CEO: Financial Innovation at the Heart of South Africa’s Turnaround

With a potential credit downgrade in the offing, yawning fiscal gaps to fill, and an election on the horizon, South Africa has found itself at yet another critical junction, forcing government and state-owned companies to weigh short-term wins against long-term objectives. In advance of our Bonds, Loans & Sukuk event in Cape Town in March, we speak with Dr Frans Cronje, CEO of the South African Institute of Race Relations about the upcoming election, policy reform, and the role of financial innovation in transforming the country’s nascent and increasingly important services sector.

Vive Energía CEO: Securing Cost-Competitive Funding for Wind still a Challenge in Mexico

Mexico has made significant strides in developing and deploying renewables in recent years, but recent regulatory uncertainty has cast a pall over the sector and may start to weigh on the bankability of transactions. Bonds & Loans speaks with Benny Villareal, Chief Executive Officer at Vive Energía about the company’s corporate funding strategy.

GCC CFOs Look Towards ECA Market, Eastward, as Tenor Appetites Stretch Out

Borrowers based in GCC countries are increasingly looking to new pools of liquidity in a bid to satisfy growing demand for longer-term funding. But deepening concerns around the implementation of VAT, rising interest rates and softening demand for emerging market assets continues to weigh on credit markets, according to feedback from borrowers at an exclusive Breakfast Briefing hosted by HSBC and Bonds & Loans at the 2018 Project, ECA and Structured Finance event in Dubai.

Terrafina Maintains Well-Balanced Accounts Ahead of a Volatile 2019

Mexico-based real estate investor Terrafina has grown at a considerable rate over the last five years, supported by a well-balanced business model that ought to help it reap the benefits of the rapid growth of Mexico’s property markets during that same period. But market uncertainty and tough external conditions are pushing the company to adjust its plans, says the company’s CFO Carlos Gomez.

Bonds & Loans Latam CFO Survey: Smoothing Out the Volatility

Latin America’s CFOs, Treasurers respond to rising uncertainty by shifting back to loan markets, prioritise liability management.

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.

Dufil Prima Foods COO on Financial Strategy, Expansion into Agricultural Segment

Madhukar Khetan, Chief Operating Officer at Dufil Prima Foods, spoke to Bonds & Loans about the Nigerian company’s expansion plans, cost-revenue balance, and the role of the issuance house for the local debt capital market.

Orpic Treasurer: Addressing capital structure imbalances created by aggressive growth

Orpic (Oman Oil Refineries and Petroleum Industries Company) is jointly owned by the Government of Oman and Oman Oil Company and is one of the biggest and fastest growing businesses not just in the country but the region more broadly. Bonds & Loans spoke to Alexandre Clar, MG Treasurer at Orpic, about how the company plans to finance its rapid expansion and new initiatives.

Metito CFO: “Managing exposure to EM investments under the IFRS 9 ECL model is a challenge in GCC”

Metito is a leading provider of choice for water management solutions in the emerging markets with operations covering segments including chemicals, and utilities. Although the company is based in the Gulf, it operates on a global scale. We speak to the Holding’s CFO Wafic Ghanem about Metito’s funding plans for the coming year, including hedging and refinancing programs and market diversification.

 

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