Deals

23 Mar 2017   Africa, Deals, Deal Case Studies

CASE STUDY: Nedbank Pioneers AT1 Instruments in South Africa

Nedbank successfully priced South Africa’s first Tier 1 capital Basel III-compliant securities in 2016, setting the stage for future issuances ahead of the regulatory framework’s introduction in the country over the next year.

On the Debt Markets, Good Things Come to Those Kuwait

The success of Kuwait’s debut US$8bn Eurobond proves that even in the credit markets, playing hard to get is a tactic that nets results, especially when surrounded by bigger and wealthier competitors vying for investors’ attention.

CASE STUDY: Amandi Energy Goes Non-ECA Route on IPP Deal

The Amandi Energy Project was the only large scale base-load independent power generation project in sub-Saharan Africa to achieve financial close in 2016 and a strategically important project for the development of the country’s energy sector.

CASE STUDY: Afreximbank Sees Tight Pricing on Dual-Currency Loan Despite Dollar Strength

African Export-Import Bank (Afreximbank) managed to secure a dual currency syndicated term loan at the lowest margins yet, despite a strengthening dollar and increasing emerging market volatility following the US elections.

CASE STUDY: AFC Prices First Dollar Sukuk of 2017

The AFC’s upsized US$150mn was the first US dollar denominated sukuk issued by an African multilateral development bank and the first dollar denominated sukuk of 2017, helping the financial institution fund a number of infrastructure projects on the continent.

CASE STUDY: Colombia Taps Debt Markets With €1.35bn Sovereign Eurobond

Colombia’s €1.35bn Eurobond represents Colombia’s first benchmark Euro-denominate issuance in over 15 years and marks the Republic’s largest euro-denominated transaction to date, fulfilling the country’s cross border funding requirements for the year.

Pushing the Limits on Bond Pricing, Tenors, YDA sets New Benchmark for Turkey

YDA Group’s TRY250mn was a well-structured deal that set a new benchmark for size and tenors in the local currency bond market, a deal made even more impressive by the fact that it was executed during one of the country’s most volatile periods. We speak with Cumhur Bilen, CFO of YDA Group about the company's landmark bond transaction and the its bid to push the limits in the country’s capital markets – particularly through PPPs.

CASE STUDY: YDA Structures First Dual Islamic and Conventional PPP in Turkey for Konya Hospital

YDA managed to attract significant participation from international lenders on the first ever dual conventional and Islamic healthcare PPP in Turkey, a €265mn facility to help finance the construction of the Konya Hospital.

Capital Market Volumes Improve – but CRA Issuances Set New Records

As Brazil continues to navigate itself out of one of the worst recessions in the country’s history, record volumes of agribusiness receivables certificates – or CRAs, as they are known colloquially – were issued in 2016. Investors and analysts believe the trend could continue in 2017 – especially with the industry’s first cross-border dollar denominated CRA in the offing.

Developing the Green Bond Markets in Turkey: Çiğdem İçel, Executive Vice President, TSKB

TSKB set a new precedent in the Turkish capital markets in 2016 when it became the country’s first financial institution to issue a green bond. Now, with more stringent environmental regulations on the horizon, the bank is seizing on new deal opportunities and vying to become Turkey’s leading sustainable finance practitioner. We speak with Çiğdem İçel, Executive Vice President at TSKB about the bank’s inaugural green bond and the pipeline for sustainable projects in 2017.

 

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