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.
The ability for real estate firms to raise long-term liquidity depends on a complex set of interrelated factors – interest rates and pricing, tenor availability, asset liquidity, and the health and sophistication of the mortgage market, to name a few. Benson Ajayi, CFO at Mixta Africa, one of the continent’s leading real estate firms speaks with Bonds & Loans about how the company is navigating these factors to optimise its capital structure.
The Abu Dhabi National Oil Company’s (ADNOC) hugely successful debut capital markets transaction, a USD 3bn dual-tranche bond, achieved a number of milestones – it was the largest single-currency corporate issuance in the GCC, one of the largest in the Middle East’s corporate history – and marked the start of a bold new financing strategy at the state-owned oil company.
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
The IIC, IFC and Rabobank helped Renova, one of the world’s most competitive and highly efficient soy product producers, secure USD410mn financing package to expand capacity, stretch out its debt profile, and reaffirm investors’ interest in Argentina’s corporate credit universe.
Bonds & Loans speaks with Andrei Matsiavin, Chief Investment Officer at Eurotorg, a leading Belarusian food retailer, about the company’s hugely successful cross-border capital markets debut – which was also Belarus’ first international corporate Eurobond sale.
Invenergy’s 70-megawatt Campo Palomas wind project, located in the Salto Department of Uruguay, launched an investment-grade USD135.8mn in the US Private Placement Market. Campo Palomas is Invenergy’s first project in Uruguay as it continues to expand its presence in Latin America.
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.
Peru’s state-owned petrol company boldly stepped into the market with 15- and 30-year tranches – which at USD2bn makes this the largest corporate debut bond from Latin America.
YES Bank opened a gateway into the Japanese market with a dual-currency syndication that attracted an unusually high number of Taiwanese lenders.
- CASE STUDY: Autopista del Sol's Dual-Currency Project Bond for Strategic Toll Road a Landmark Debut
- CASE STUDY: KNPC Seals USD6.245bn Loan in Largest ECA-Backed Corporate Transaction Ever
- Latin America Credit Markets Brief: 9 November – 23 November
- Middle East Credit Markets Brief: 09 November – 22 November
- Emerging Markets’ Greatest Bond Villain: Venezuela Enters Record-Breaking Default
15 Feb 2018