Deals
China’s ZGH prints US$400mn offshore green bond
China’s ZGH has issued a green bond with an SBLC likely designed to attract strong investor demand.
23 May 2016
Qtel to join other GCC issuers with imminent dollar bond
Qatar Telecom is planning to launch another benchmark sized bond following similar issuances in the past. The company’s fundamentals mean demand will not be lacking, and banks that have worked on past Qtel deals have re-emerged.
20 May 2016
Middle Eastern debt drought evaporates
The real estate sector has been particularly active in Qatar, with two companies finalising deals on the international debt markets. The increase in debt issuance is not only reserved to this sector, many corporates and sovereigns in the Middle East have recently flooded the markets with debt.
19 May 2016
VIDEO: Mohieddine Kronfol, CIO, MENA Fixed Income and Global Sukuk, Franklin Templeton Investments
Mohieddine Kronfol, Chief Investment Officer, MENA Fixed Income and Global Sukuk, Franklin Templeton Investments talks about the dynamics of the GCC fixed income region, as well as Real estate becoming a potential hot spot in the market.
19 May 2016
Petrobras taps investors’ pockets as new window emerges
Petrobras has returned to the international capital markets for the first time in a year, paying its highest yields ever as the company looks to attract investors to refinance some of its existing mountain of debt. The country’s new government also seems to have stirred renewed interest from the investment community, which could lead to further corporate issuances in Brazil.
18 May 2016
CASE STUDY: CAF boosts capital with Eurobond at critical time for LatAm DFIs
The Latin American Development Bank has issued its largest bond this year, a US$1.25bn note, which will be used to finance regional projects across the continent. The bank, which is made up of 17 Latin American and Caribbean nations as well as Spain, Portugal and 14 private banks, plays an important role in the development of the region, particularly through the funding of infrastructure projects.
17 May 2016
CASE STUDY: Bank Muscat Eurobond first of its kind since 2013
Bank Muscat seized a window of opportunity in the markets and was able to issue a Eurobond that proved to be hugely popular amongst investors. The senior unsecured issuance is also the first of its kind from an Omani bank since 2013 and marked a return to the bond markets from GCC entities.
17 May 2016
Oil revenue drought prompts Middle Eastern borrowers to flood market
The large increase in international debt issuances from the Middle East is the result of pressured finances and tightening domestic liquidity. Despite the number of issuances, it is unlikely that smaller borrowers will be crowded out of the markets.
12 May 2016
The floodgates open on Argentine debt
A number of Argentine sub-sovereigns have lined up bond issuances in the wake of the country’s debut debt issuance. Corporates look set to follow suit, and with many having strong credit fundamentals, demand for their debt issuances could also be disproportionally high.
11 May 2016
Could Banco de Bogota’s bond salvage weak capital ratios?
Banco de Bogota is looking to issue Tier 2 debt but the new issuance is expected to perform worse than the bank’s similar outstanding notes. A weak Colombian peso and high dollar exposure has contributed to weaker capital ratios at the bank, but the dollar exposure provides much needed funding for the bank.
11 May 2016