RenovAr, Argentina’s flagship solar and renewables programme, has struggled in recent months due to the severe macroeconomic challenges weighing on the country. But as the country’s markets stabilise, developers focused on the region remain cautious as upcoming elections later this year could result in a change of direction. We speak with Martin Parodi, Managing Director, Total Eren Argentina, one of Argentina’s leading solar and wind power players, about the outlook for the country’s power sector and the factors influencing the company’s funding strategy.
Latin American borrowers continue to see strong demand from lenders and investors following a hectic year of elections in many of the region’s largest economies. We speak with Mauricio Voorduin, Managing Director, Latin America Regional Head; David Costa, Managing Director, Head of Latin America Finance; Sara Pirzada, Managing Director, Loan Syndications; and Mark Tuttle, Managing Director, DCM at Mizuho Securities, a regional funding leader, about some of the key trends prevalent in the region’s markets throughout the first quarter of this year, and why it’s never been a better time of borrowers to move into the dollar markets.
Strategically positioned between the US and Asia, the GCC relies heavily on governments and markets in both regions for policy support, investment, and commodities demand. As China and the US double down on opposing trade positions in their pursuit of global economic hegemony, the GCC risks getting caught in the crossfire, according to Ayham Kamel, Practice Head for MENA at Eurasia Group.
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.
Bonds & Loans speaks with Raul Cadena, Chief Financial Officer of Votorantim Energia, about the company’s funding and M&A strategy for 2019, and value creation in Brazil’s growing electricity generation segment.
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.
The recent explosion at an oil pipeline in Tlahuelilpan, Central-Eastern Mexico, took the lives of 114 people and dozens more were left with severe injuries. The blast brought Mexico’s ailing oil and gas infrastructure back into focus just as the new president sets on a path to revitalise the industry by undoing some of his predecessor’s reforms to liberalise it. But will he succeed?
The Canadian oil company navigated a challenging market backdrop to place an upsized USD350mn bond, its first in the USD market, to finance its operational investments in the Andean region, refinancing all of its outstanding 2021 notes in the process.
Since its establishment in 1960, OPEC has seen its proportion of global oil production gradually decline. With the formation of OPEC+ in 2016, which saw OPEC agree to cut production alongside a number of other producers, and Qatar’s recent exit from the bloc, questions have been raised about the cartel’s waning influence – leading some to seriously consider what a world without OPEC would look like.
Following its bold return to the debt markets in 2014, Ecuador has leaned heavily on external credit to meet its monetary and financing needs. Yet its options appear to be increasingly limited, with the prospect of a more aggressive deficit reduction programme or an IMF bailout becoming more likely by the day.
- CASE STUDY: Enel Gives Wind to First Project Financing in South Africa’s Local Renewables Market
- MEGA in MENA: Large-Scale Infrastructure Pipeline Deepens and Broadens as PPP Rules Gather Pace
- Political Volatility Breaks Wave of M&As in Latin America
- Beyond 2030: Diversification, Corporate Transformation and Funding in the UAE
- Political Certainty, Sound Economics to Propel LatAm Infrastructure Opportunity Forward
15 May 2019