Deal Case Studies

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.

CASE STUDY: Pacifico 3 Lands US$650mn Hybrid Financing Package

Engineered by Goldman Sachs, this first-of-a-kind multi-tranche dual-currency hybrid financing package for the Pacifico 3 highway became the first UVR-denominated issuance in the world and marks a new era in Colombia’s infrastructure PPP financing.

CASE STUDY: Bancolombia Prints First Green Bond Issued by LatAm Private Lender

Bancolombia’s green bond was the first green bond issued by a private financial institution in Latin America and the first green bond in Colombia, potentially opening the market to a slew of local currency-denominated issuances.

CASE STUDY: Suramericana Follows Record-Making Trade with Bridge Loan, Bond

In April 2016 pan-American conglomerate Grupo de Inversiones Suramericana S.A. followed up its record-breaking 2011 bond with a US$550mn issuance, which was used to repay a bridge loan posted a month earlier and fund the acquisition of RSA’s Latin American operations.

CASE STUDY: Tofas Drives International Appetite for €200mn ECA-Backed Facility

Tofas Turk Otomobil Fabrikasi A.S. secured a €200mn ECA-back term loan facility against a backdrop of increasing emerging market volatility. The deal was critical for the development of the country’s automotive industry, and helped Tofas Turk finance the development of two new car models.

CASE STUDY: IC Construction Group Lays Groundwork for IPO with Project Finance Facility

IC İçtaş Enerji Yatırım Holding A.Ş. was able to utilise its close relationship with banks to rapidly close one of Turkey’s largest project finance loans of the year. The size of the project and the acquisition of two new HEPPs from the privatisation authority also managed to attract a larger group of lenders to the transaction.

CASE STUDY: Crescent Capital Cleans Up with Well-Structured Acquisition Finance Facility

Crescent Capital was able to secure a unique project finance facility within the Turkish markets with a mezzanine facility structured as a Murabaha commodity purchase tranche, achieving a long tenor, an uncommon feature in this market, and structured as a true non-recourse facility.

CASE STUDY: İstanbul New Airport Lands €4.5bn Project Finance Loan

İGA Havalimanı İşletmesi A.Ş set out to secure up to €4.5bn in a bid to build Turkey’s largest mega-project, a new airport in Istanbul that is set to become the world’s largest once complete, and achieved its key objective of structuring the deal with lender-friendly terms.

CASE STUDY: Demand for Nigerian Eurobond Swells, Repricing Secondary Curve

The Federal Republic of Nigeria managed to aggressively price an oversubscribed US$1bn 15-year trade against a backdrop of significant political and economic volatility, a sign that investor confidence is slowly returning to the African sovereign.

CASE STUDY: Galataport Secures €1.2bn to Finance Landmark Istanbul Development

Salıpazarı Liman İşletmeciliği ve Yatırımları A.Ş, a joint venture between BLG Gayrimenkul Yatırımları ve Ticaret A.Ş. and Doğuş Holding A.Ş, secured a 14-year €1.2bn project finance facility just one month after the Turkish coup attempt and without any guarantees from the Turkish government.

 

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