Deal Case Studies
In a deal that involves an amortizing loan with debt and equity tranches on a non-recourse project finance basis, the Saudi Arabia-based developer broke new ground by achieving an 18-year tenor, raising USD financing with an EGP-denominated tariff and bringing in a Chinese commercial bank.
The Omani electricity company SPV placed the first ever corporate sukuk from the country with an elegant legal structure that helped navigate regulatory obstacles.
The unique A/B private placement structure was a rarity in the capital markets in light of its inclusion of both senior and subordinated tranches. It’s also the third green project bond issued out of Latin America.
The trailblazing issuance by the state government could open doors to China’s onshore market to other Middle East issuers as part of the “Bond Connect” initiative.
The Chilean lender maintained its leading role in the country’s ESG space and continued to promote financial inclusion with the first social bond to hit the local market, priced at CLP50bn, or equivalent of USD83mn.
Dubai Aerospace Enterprise (DAE) has signed a landmark unsecured four-year dual-tranche revolving credit facility with an initial commitment of USD480mn and an accordion feature that allows the facility to be increased to up to USD800mn. The deal was one of the largest conventional/Islamic transactions in the region.
On 16 May 2018, the African Development Bank (AfDB) successfully priced a EUR1.25bn 10-year Social Bond transaction. The issue follows the inaugural EUR500mn 7-year Social Bond issued in November 2017.
Following up on its recent “double bill” international bond, the former Soviet republic hit the market again at a tough time, but the notes proved popular with international investors and saw some of the highest oversubscription levels in the sovereign space over the past year.
A testament to solid investor relations, good governance and transparency, Albanesi was able to attract traditional portfolio managers to its latest dual-tranche A/B loan syndication, a rare project finance deal in the country’s power sector.
The Kenya-based subsidiary of one of Africa’s leading financial institutions managed to secure strong demand from a broad group of lenders as it sought to diversify its sources of funding.
- CASE STUDY: Tajikistan Opens Floodgates and Makes Strong Debut with USD500mn Eurobond
- CASE STUDY: Cote D’Ivoire Coasts to the Market with Largest African Euro Bond
- CASE STUDY: MTP Navigates Regulatory Unknowns to Issue Mexico’s First Tower Securitization
- CASE STUDY: YES Bank Debuts USD1bn Tranche of MTN Programme on GSM of India INX
- CASE STUDY: Credit Bank of Moscow Achieves Tightest Coupon for Russian Private Financial Institution
18 Oct 2018