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Bonds & Loans Latin America Deals of the Year Awards 2018

The issuers, borrowers and mediators of the most innovative and outstanding debt capital market deals on the continent to be lauded at the prestigious awards ceremony.

Upturn for Nigeria’s Debt Capital Markets Threated by Election Uncertainty, Rising Oil Price

With fresh forecasts predicting a deceleration in the country’s economic contraction and borrowers making fresh strides in the local credit market, Nigeria is poised to make strong gains in 2018. Transforming those gains into longer-term sustainable growth will depend heavily on the country’s commitment to reforms, but with elections in the offing and oil prices rising, some analysts question its resolve for staying on the reform path.

HSBC: If Sustainable Finance is to Really Work, Mainstreaming Needs to be the Priority in 2018

If volumes are anything to go by, 2017 was a watershed year for green bonds, with the market seeing more than USD130bn of these securities issued globally. Emerging markets saw their fair share of firsts, including Latin America’s first sustainability bond, and the first green bond in Africa, while China continued to dominate the supply pipeline

Zimbabwe Recovery Huge Boon for Foreign Banks, Credit Markets – If Regulators Can Pull Off Reforms

With Zimbabwe’s infamous revolutionary-turned-dictator Robert Mugabe out and one of his main rivals left to pick up the pieces of an economy in tatters, the country’s prospects are anything but clear. Analysts are optimistic that policymakers can find a path to normalisation – creating significant opportunities for international and regional lenders, and the country’s credit markets, in the process. Tough decisions will need to be made.

Sunny Outlook for Egypt’s Renewables as DFIs Make Way for Commercial Banks

The first two stages of the Egyptian government’s solar and wind programme have been somewhat hit-and-miss, but increased development bank involvement sets the next stage on a path to encourage wider private sector participation. Third time’s a charm – but only if local and commercial lenders play their part, analysts suggest.

CASE STUDY: Blackrock and Citi Conjure Up Dual Tranche Hybrid for Mexico Port Construction

The Lazaro Cardenas Port Logistics (LCPL) project’s complex financing structure, including dual bank and bond financings, allowed the borrower to navigate around construction risks and achieve the full 15-year tenor.

CASE STUDY: Autopista del Sol's Dual-Currency Project Bond for Strategic Toll Road a Landmark Debut

Ruta 27’s amortizing USD300mn international 144A/RegS notes and USD50.75mn Costa Rican notes represent its inaugural debut in the international and local Costa Rican debt capital markets.

CASE STUDY: KNPC Seals USD6.245bn Loan in Largest ECA-Backed Corporate Transaction Ever

Kuwait National Petroleum Company’s (KNPC) USD6.245bn ECA-backed loan was a triumph for the company’s Clean Fuel Project and the region’s credit markets, setting a new record for the largest ECA-backed corporate loan to date.

Latin American Governments Welcome Back Miners With Open Arms, Local Communities Less So

2017 marks the first year since 2013 that mining majors are seriously kicking the tires of Latin American mining assets. Revitalized miner balance sheets, positive trending metal prices and welcoming gestures from national governments all fuel the rising appetite for acquisitions in Latin America.

EuroChem Focussed on Latin America, Asia as Fertilizer Industry Recovers

Over the past year, Russian fertilizer giant EuroChem Group AG has made great strides in opening new markets, tapping the growing demand in Asia and Latin America, and spending over USD6bn on two mines to produce potash, a high-quality soil fertilizer. Bonds & Loans catches up with the company’s CFO Andrey Ilyin to discuss the industry outlook, the company’s financing plans for 2018, and how it plans to diversify into new regions.

 

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