Deals
Doubts Cast Over Rosneft Deal as Banco Intesa Denies Funding Role
The Russian oil giant’s initial announcement of a privatization deal involving Swiss oil giant Glencore and the Qatari Investment Authority was deemed a huge success for CEO Igor Sechin and the Kremlin. But contradictory statements that followed from various participants in the deal and the generally opaque nature of the transaction left behind a lot of loose threads.
22 Dec 2016
ECAs Increasingly Central to Financing the Andean Infrastructure Pipeline
New projects and opportunities continue to attract a broad range of lenders and investors to places like Colombia and Peru, with the next wave of 4G infrastructure projects in the case of the former and revitalization of investment authority ProInversion in the case of the latter catalyzing the region’s project pipeline.
19 Dec 2016
CASE STUDY: Gazprom Goes Low with €1bn 7-Year Eurobond
Russian oil producer Gazprom managed to price its €1bn 7-year trade through its secondary curve and secure the lowest coupon on any Russian corporate Eurobond placed in either euros or US dollars to date.
16 Dec 2016
CASE STUDY: Gama Enerji Appeals to International Investors with US$132mn HEPP Privatisation
Gama Enerji secured US$132mn to acquire the Karacaören I and II hydroelectric power plants (HEPP) from the Turkish Privatisation Administration, securing one of the longest tenors for a facility of its kind in Turkey.
15 Dec 2016
Silverado Asset-Backed Securities: Lessons for Investors
Why would Latin America Structured Finance Advisors (LASFA) write an article that airs the dirty laundry for the Brazilian Asset-backed Security market (ABS market or ABS) when it is currently seeking investors for this market? Because many foreign investors are lured by the high interest rates offered in Brazil’s local credit markets and this is a discussion that any investor needs to consider…
14 Dec 2016
Pemex Issues US$5.5bn to Join Queue of Energy Firms Tapping Debt Markets
Mexico oil giant’s multibillion dollar issuance on the back of rising oil prices follows a joint Trion oil field exploration deal with BHP Billiton and the country’s successful deep-water oil auction. Are we seeing first signs of the country’s economic recovery?
8 Dec 2016
Top Dealmaker: Gonzalo Alvarez-Cañedo, Santander
Mr. Álvarez-Cañedo is the Head of Debt Capital Markets, Asset Rotation & Capital Optimization, being responsible for the origination, structuring and execution of corporate bonds, securitized bonds and commercial paper transactions. Since January 2016, he is also responsible for the distribution of all balance sheet products originated by Santander GCB within institutional investors, banks and…
1 Dec 2016
Top Dealmaker: Demetrio Salorio, Societe Generale Corporate & Investment Banking
Markets in 2016 kicked off much like they appear to be winding down: with many unknowns ahead. Nevertheless, that uncertainty has bookended a record year for debt capital markets globally, as low interest rates and quantitative easing sent money into new regions (particularly emerging markets) and asset classes (such as European high yield), enabling borrowers to capitalise on reduced costs of…
28 Nov 2016
As Rosneft Agrees US$16bn Bond Programme, Memories of 2014 Deal Rehashed
The Russian oil giant hopes to tap the local markets with 10-year bonds, with proceeds going towards refinancing old debt and foreign ventures as it continues to ramp up production. But one can’t help get a sense of déjà vu.
25 Nov 2016
Oil to Contain Financial Sector M&A in UAE
The high probability of further consolidation across the financial sector in the Emirate of Abu Dhabi after the NBAD-FGB merger in Q1 2017 is largely driven by the large number of banks per capita in the UAE. While arguably overbanked, M&A activity is likely to remain low in the country’s other emirates as they do not rely on oil to the same extent as Abu Dhabi.
22 Nov 2016