The GCC is rarely known for doing anything in half-measures, and infrastructure projects – which have grown in number and size in recent years – are no exception.
With a tangible reduction in deal-flow from Africa on the international markets, infrastructure firms in countries like Nigeria this year have relied on the government and finance specialists to fast-track domestic capital market reforms, which ought to open up new sources of liquidity for the industry. We speak to Chinua Azubike, Chief Executive Officer of InfraCredit, the first 'AAA' rated specialised local currency infrastructure credit enhancement facility in Nigeria, about the state of infrastructure investing in Nigeria and the major influential factors influencing the sector’s outlook.
The Andean region has for years been viewed as an upstanding example for its Latin American neighbours in how to manage funding of government initiatives and projects. But corruption scandals and a political stalemate have disrupted the project pipeline, with many initiatives still in a state of arrested development. The challenge for the new administration is to jumpstart the infrastructure programme with a new, reworked concessions deal.
The first half of 2018 has seen a record-breaking volume of corporate consolidation across the globe, and Latin America has become a prominent setting for such activity. The latest slowdown in M&A activity is thought to be stemming from the peak of elections-related volatility, from Mexico to Brazil, and most expect business to continue as usual once the dust settles.
The United Arab Emirates among other GCC nations has set its sights on the cultivation of a well-diversified, mature economy built on strong, sustainable, globally-integrated businesses. For many borrowers looking to get in front of the trend, the shift will entail a radical transformation in corporate culture and approach to funding.
As a region often faced with political and currency volatility – this year more than others in recent time, perhaps – Latin America has seen impressive growth in the volume and range of investment opportunities across the region’s infrastructure landscape.
Turkcell, a leading Turkish phone operator, and the China Development Bank (CDB) signed a multi-jurisdictional loan restructuring facility featuring a rare RMB-denominated tranche in a multi-currency 10-year deal.
As the Odebrecht ordeal and numerous other corruption scandals continued to devastate governments and ravage large corporates in the continent’s biggest economies, from Brazil to Argentina to Peru, international law firms have been seizing the opportunity to bring their litigation expertise and conflict-resolution know-how to the table. We speak to Julissa Reynoso, the former US Ambassador to Uruguay and now a senior litigation and international arbitration partner with Winston & Strawn, about the firm’s focus in the region over the next 12 months.
With the aid of Natixis, which helped set up the innovative hybrid structure, the Peruvian transmission line project was able to attract long-money foreign investors, including major US pension funds.
Bonds & Loans team spent some time on the ground in Colombia to meet with a broad range of local finance leaders in order to get a sense of the risks and opportunities on the horizon in the Andean country.
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11 Dec 2018