Deal Case Studies
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.
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.
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.
Ruta 27’s amortizing USD300mn international 144A/RegS notes and USD50.75mn Costa Rican notes represent its inaugural debut in the international and local Costa Rican debt capital markets.
Kuwait National Petroleum Company’s (KNPC) USD6.245bn ECA-backed loan was a triumph for the company’s Clean Fuel Project and the region’s credit markets, setting a new record for the largest ECA-backed corporate loan to date.
The City of Cape Town successfully placed ZAR1bn in new green bonds this Summer to fund a raft of sustainability initiatives in the city, proving once again that cities are a natural fit for sustainable finance instruments.
Abu Dhabi-based National Central Cooling Company PJSC, better known as Tabreed, secured its first club loan through an AED1.5bn 10-year sharia-compliant facility, enabling the company to extended its debt maturity profile and appeal to new pockets of global and regional investors.
- CASE STUDY: After a Year of Preparation, ACWA Power Comes Through with Blockbuster Debut Bond
- Russia, CIS, Europe & Turkey Credit Markets Brief: 21 September- 5 October
- Case Study: Investors Splash Out on Rotoplas’ Debut MXN2bn Sustainability Bond
- CASE STUDY: Nafin’s Yen Bond Cuts a Clear Path to Japan for Mexican Banks
- CASE STUDY: EEHC’s Lightning-Fast EGP20bn Syndication to Develop Egypt’s Power Sector
15 Feb 2018