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7 Aug 2018   Americas, Projects, Deals

Odinsa CFO: Colombia’s Economic Tailwinds, New Government to Bolster Existing 4G Pipeline

Colombia is a world leader when it comes to public-private partnerships in the infrastructure sector, and the country’s flagship toll road infrastructure initiative – the 4G programme – is regularly held up as a beacon for other regional economies to replicate. But last year, due in part to eroding economic fundamentals and political volatility, many of the programme’s key projects were hit with bankability issues, causing execution delays among other headaches.

CASE STUDY: Emirate of Sharjah Brings Rare RMB2bn Panda to Middle East Market

The trailblazing issuance by the state government could open doors to China’s onshore market to other Middle East issuers as part of the “Bond Connect” initiative.

CASE STUDY: BancoEstado’s CLP50bn Bond Continues Chile’s ESG Story

The Chilean lender maintained its leading role in the country’s ESG space and continued to promote financial inclusion with the first social bond to hit the local market, priced at CLP50bn, or equivalent of USD83mn.

CASE STUDY: Dubai Aerospace Gets Lift-Off on USD480mn Dual-Tranche Murabaha RCF

Dubai Aerospace Enterprise (DAE) has signed a landmark unsecured four-year dual-tranche revolving credit facility with an initial commitment of USD480mn and an accordion feature that allows the facility to be increased to up to USD800mn. The deal was one of the largest conventional/Islamic transactions in the region.

GCC Bonds: Is the Worst Behind Us?

In line with our expectations at the beginning of the year, YTD total return on Barclays Bloomberg GCC index has been a loss of 2.67%, almost entirely attributed to the increase in benchmark UST yields.

Interview: MTS Blockchain Bond Could Lead to “Faster, Transparent and More Secure Transactions”

The Russian telecoms giant became a trailblazer in issuing distributed ledger fixed-income instruments this spring with the private placement of a RUB750mn commercial bond using blockchain-embedded smart contracts. Alexander Smirnov, Head of Corporate Finance and Treasury, Mobile TeleSystems PJSC, explains how the company worked with Russia’s National Settlement Depositary and Sberbank to achieve this milestone.

CASE STUDY: AfDB Extends Euro Curve with EUR1.25bn 10-year Social Bond

On 16 May 2018, the African Development Bank (AfDB) successfully priced a EUR1.25bn 10-year Social Bond transaction. The issue follows the inaugural EUR500mn 7-year Social Bond issued in November 2017.

CASE STUDY: Belarus Eurobond Prices Inside Better Credits, Opens CIS to Global Markets

Following up on its recent “double bill” international bond, the former Soviet republic hit the market again at a tough time, but the notes proved popular with international investors and saw some of the highest oversubscription levels in the sovereign space over the past year.

Neeraj Agrawal, CFO, Crescent Petroleum on Raising New Capital in Rising Rate Environment

Neeraj Agrawal, Chief Financial Officer of Crescent Petroleum sat down with Bonds & Loans at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about the funding team's key priorities this year, and dislocations between risk and the perception of risk in the GCC.

CASE STUDY: Albanesi Attracts Traditional Credit PMs to Rare Dual-Tranche Syndication

A testament to solid investor relations, good governance and transparency, Albanesi was able to attract traditional portfolio managers to its latest dual-tranche A/B loan syndication, a rare project finance deal in the country’s power sector.

 

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