Deal Case Studies
Ezdan Holding Group, Qatar’s largest privately-owned real estate developer, raised US$460mn through a competitively priced syndication in a bid to help refinance existing maturities and extend the tenor of existing debt.
After a challenging year for Brazilian credit markets and a broader lull in the Latin American markets following the US election, Petrobras found a narrow window to launch a US$4bn dual-tranche bond as part of a liability management exercise that was oversubscribed by 5x.
UAE-based lender National Bank of Abu Dhabi (NBAD) broke new ground by becoming the first MENA issuer to tap the green finance markets with a debut US$587mn 5-year green bond. The deal marked the largest size and tightest spread for an FI green issuance across the emerging market space, excluding China.
Brazilian rail logistics leader Rumo S.A. made a strong international capital markets debut with a US$750mn 2024 bond offering that priced at the tight end of guidance despite broader uncertainty around emerging markets.
In Autumn 2016, Ultrapar, Brazil’s fourth largest company and one of the biggest downstream operators and fuel distributors, made an emphatic return to the international debt markets following an 11-year absence with a benchmark US$750mn 10-year bond.
Kuwait maintained GCC sovereign mega-bond momentum, tapping the markets for an aggregate of US$8bn in the biggest ever EM dual-tranche issuance. Kuwait’s debut on global debt capital markets marks the biggest CEEMEA transaction this year to date.
In summer of 2016 Brazil was able to quickly recover from a recent downgrade, and despite Brexit and US election-related uncertainties managed to set a new 30-year US dollar benchmark with a US$1.5bn sovereign bond, achieving a 25bp discount over its 10-year benchmark set in March same year.
After wowing the markets with its landmark US$17.5bn sovereign bond, the KSA repeated the trick on the Islamic finance side, issuing the largest sukuk in history and pricing effectively flat to the conventional sovereign curve.
UAE-based airline Etihad Airways tapped the Islamic finance market with the largest ever sukuk issuance in the MENA region’s aviation history to date, an impressive debut.
Parque Arauco managed to secure the lowest yields of any Chilean issuer on comparable notes with its October 2016 issuance, a transaction that capped off an exciting evolution in the company’s financing strategy.
- CASE STUDY: EQUATE Breaks Barriers for GCC Corporate Issuers with US$500mn Debut Sukuk
- CASE STUDY: EU Investors Take Big Bite out of Sigma Alimentos’ €600mn Private Placement
- CASE STUDY: BancoEstado Clinches Two Firsts with JPY Women Bond
- CASE STUDY: BOAD Makes Largest Bond Debut of Any West African DFI
- CASE STUDY: Yinson Debuts Largest Murabaha FPSO Financing in Africa to Date
22 May 2017
19 May 2017
18 May 2017
18 May 2017
17 May 2017