Deal Case Studies
Colombia’s Promigas marked its first foray into the syndicated loan markets by securing a US$200mn 5-year unsecured facility, allowing the company to consolidate its existing debt at more aggressive pricing while broadening its funding base.
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.
The Sultanate of Oman’s OMR250mn sukuk al-Ijara Trust Certificates due November 2020 helped the government set a critical funding benchmark and helped pave the way for a conventional dual-currency bond seven months later.
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.
Dubai-based pay-television company OSN closed an oversubscribed, well-structured US$400mn 5-year syndicated loan in a widely successful follow-up to the company’s debut syndication in 2013. The transaction was well-received by the market and helped effectively balance the company’s short and long-term working capital needs.
Noor Bank’s debut perpetual Tier 1 perpetual sukuk issuance met with strong demand from global investors and achieved the lowest yield of any Tier 1 Basel III compliant perpetual sukuk in Dubai, despite a volatile market backdrop which saw oil prices dip below US$30 per barrel.
Petroleum Development Oman’s (PDO) US$4bn senior secured pre-export term loan facility was the company’s debut credit deal, upsized on the back of strong demand from global investors, and the first ever oil pre-payment financing by the Omani government.
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.
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.
Ezdan’s debut US$500mn 5-year fixed rate trust certificates helped the company diversify its sources of funding, and created a broader platform from which Qatar’s leading real estate developer, owner and operator can grow its business in the future.
- CASE STUDY: Minera Escondida Digs into US$1.2bn Term Loan
- CASE STUDY: Going Large in the International Markets: Qatar Issues Massive Us$9bn Bond
- CASE STUDY: Fibria Breaks Ground with Well-Timed Green Bond
- CASE STUDY: Emirates Global Aluminum Forges Us$4.9bn syndicated loan
- CASE STUDY: Gazprom Goes Low with €1bn 7-Year Eurobond
21 Feb 2017
21 Feb 2017
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17 Feb 2017
16 Feb 2017