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Bips & Pieces

PhosAgro Picks Seven Bookrunners on Russia’s First Corporate Debt Deal of 2020

The fertilizer giant is roadshowing for a USD-denominated LPN that will go towards refinancing USD150mn Eurobond maturing next year.

14 Jan 2020

Russian Central Bank Eased Pace of De-dollarisation in 2019

While the government’s rhetoric implies commitment to dumping the greenback, latest figures released by the CBR tell a slightly different story.

14 Jan 2020

EM Currencies, Local Bonds Top Picks for 2020 – JP Morgan Asset Management

Last year was wracked by uncertainty, with trade tensions and a sharp reversal in rates weighing on growth. With the apparent relaxation of trade tensions and a consistent, supportive monetary policy environment, 2020 may be the year of revitalised economic growth, JP Morgan Asset Management analysts argue.

14 Jan 2020

Kenyan Economic Growth Slowed in 2019 – Cytonn

Last year saw Kenyan economic growth slow, largely due to underperformance in the agricultural, transport and electricity sectors, according to the Cytonn Annual Markets Review.

13 Jan 2020

Private Sector Lending in Nigeria Rose 15% between January and November 2019, CBN Figures Show

Data from the Central Bank of Nigeria shows loans to the private sector increased by NGN3.46tn between January and November 2019.

13 Jan 2020

Public Debt, Deficits to Undermine Latin American Countries’ Ability to Respond to Shocks - Fitch

Rapid growth in public debt and yawning fiscal deficits in a number of Latin American countries could erode the capacity of regional governments to weather a global economic downturn in 2020, according to a note from Fitch Ratings.

13 Jan 2020

Debt Servicing Costs Seen Weighing on Egypt’s Recovery

While the economic reforms of the past three years have pushed the country in the right direction and helped reduce the fiscal deficit, the interest bill is going to determine the scale of fiscal improvement in Egypt in the coming years, Moody’s said in a recently published paper.

13 Jan 2020

EM Debt Accumulation Hits Record Levels in 2019 – WorldBank

Spurred by unprecedented decline in global interest rates, global debt rise in the past decade has been greater, faster and more broad-based than during any previous “debt accumulation waves”, the IFI’s report states.

13 Jan 2020

Saudi Arabia Launches Third Round of National Renewables Programme, Targets 1.2GW Generation

Saudi Arabia’s Ministry of Energy kicked off the third round of Kingdom’s National Renewable Energy Program (NREP) and is seeking bidders on new projects with a total generation capacity of 1.2GW.

10 Jan 2020

Commodity Prices, Regulation & Funding Access Biggest Risks for Energy Companies in 2020 - Moody's

Looking at the year ahead, energy companies worldwide could face challenges from weak commodity prices, regulatory barriers and a lack of access to funding, according to a recent note from Moody’s.

10 Jan 2020

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