Deals

17 Feb 2017   Americas, Deals, Deal Case Studies

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.

CASE STUDY: Kazancı Holding Electrifies Local Loan Market with US$800mn Loan

Kazancı Holding secured a dual-currency US$800mn 10-year loan against a backdrop of severe volatility in the local market and growing uncertainty around the macroeconomic environment more broadly.

Pioneering Covered Bonds in Turkey: Mustafa Turan, VakifBank

In 2016, VakifBank became the first Turkish bank to launch a euro-denominated covered bond – a deal that helped set a new benchmark for other issuers and attracted critical acclaim from across the industry. Working closely with the country’s Capital Markets Board and other regulators, it also played a critical role in the development of the country’s covered bond legislation. Bonds & Loans speaks with Mustafa Turan, Senior Vice President, Head of IF-IR and Structured Finance at VakifBank about the debut transaction and the bank’s future covered bond ambitions.

CASE STUDY: Egypt Roars Back After Reforms, IMF Loan with US$4bn Eurobond

The Arab Republic of Egypt started 2017 with a bang, pricing an upsized US$4bn triple-tranche bond that is currently the largest single issuance out of Africa to date. The deal is a testament to renewed confidence in Egypt and its willingness to stick with important, albeit often unpopular, reforms, and secure the support of global multilaterals and its GCC neighbours.

CASE STUDY: The First Greenfield Green Infrastructure Project Bond in Turkey

Rönesans Healthcare Investment issued Turkey’s first green infrastructure project bond to help finance the development of the Elazığ City Hospital, deploying a new and innovative credit enhancement scheme that helped the issuance soak up global investor liquidity and push the Turkish PPP market forward.

Is China's Real Estate Market Headed for ‘Overleverage’ Territory?

The real estate sector in China is set to cool off in 2017 after the Chinese government enacted a series of measures to prevent a bubble following skyrocketing housing prices seen over the past two years.

 

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