Environmental, social and governance (ESG) indicators are integral to PIMCO’s sovereign credit assessments, which inform our investment decisions. But how exactly do we incorporate ESG considerations into our decisions?
Cape Town is one of the few municipalities to have issued a green bond, a hugely successful transaction that generated significant oversubscription despite a challenging local market backdrop. We spoke with David Valentine, the Treasury Director and Janine Marion Abrahams, Head of Bank and Treasury Loans, Finance and Treasury Department at the City of Cape Town, about how it prepared for the transaction and why it chose to issue.
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.
A diverse group of governments have taken the plunge and issued green bonds to finance various initiatives designed to improve their climate resilience, but the diversity in their use of proceeds is making the pursuit of consistent impact reporting more complex and raising concerns about greenwashing otherwise harmful activities.
Metito is a leading provider of choice for water management solutions in the emerging markets with operations covering segments including chemicals, and utilities. Although the company is based in the Gulf, it operates on a global scale. We speak to the Holding’s CFO Wafic Ghanem about Metito’s funding plans for the coming year, including hedging and refinancing programs and market diversification.
As the world continues to embrace ESG-led investing, a dizzying array of standards and ratings tools has emerged to help clarify the underlying non-economic impact of an investment and help investors make sense of ESG-linked assets. This explosion in ratings, criteria and standards, however, could sow more confusion than they aim to resolve.
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.
Doris Capurro, President, CEO & Founder, Luft Energia talks to Bonds & Loans about the company’s renewable energy development plans, and its bid to tap into multilateral development institutions and export credit agencies to help finance the next wave of projects in the pipeline.
Financial inclusion has been a challenge that African FIs have struggled to overcome for decades, with vast chunks of the population remaining unbanked to this day. Now a number of microfinance institutions are using fintech tools and disruptive technologies to bridge that gap. Tim Nuy, CEO of Mybucks, spoke to Bonds & Loans about the company’s achievements and goals for this year.
Corruption, corporate governance and transparency is a perennial concern among emerging market fixed income investors, with the lack of clear governance structures and opaque financials frequently causing headaches for credit analysts and their compliance teams.
- CASE STUDY: AfDB Extends Euro Curve with EUR1.25bn 10-year Social Bond
- Case Study: Indonesia Serves Up Benchmark-Setting Green Sukuk
- Green Bonds Move Forward – But Same Old Questions Persist Unanswered
- Sunny Outlook for Egypt’s Renewables as DFIs Make Way for Commercial Banks
- CASE STUDY: Invenergy Winds Up Uruguayan Market with 20-year Project Bond
18 Oct 2018