Deals
Eskom set to receive loan
South Africa’s Eskom will receive a loan from the New Development Bank. The transaction highlights the vital role that Development Finance Institutions play in African infrastructure projects, but also raises questions over why a corporate connected to the state would need to access external funding.
25 Apr 2016
Asian Development Bank deposits bond
The ADB has issued a bond amid high demand. The bank’s credit rating and its operational efficiency have contributed to the popularity of the issue, leading to a wide investor base and varied investor make up.
25 Apr 2016
Argentina feeds hungry investors with landmark bond sale
The Latin American sovereign has finally returned to the capital markets, demonstrating that despite some market saturation appetite for the sovereign’s long awaited debt did not dampen.
20 Apr 2016
Global Ports floats Eurobond
Russian corporate Global Ports has issued its debut Eurobond amid large demand, due in part to the rarity of debt issuances from the country. Although there are opportunities for non-sanctioned corporates to tap the international markets, their credit fundamentals play an important role in determining whether they are able to issue or not.
15 Apr 2016
Hungary shows appetite for dim sum bonds
The Eastern European nation has returned to the international capital markets with a yuan-denominated bond, speaking to its strengthening ties with China around the latter’s ‘silk road’ initiative.
15 Apr 2016
Poland reopens Eurobond but EM investor appetite wanes
Poland marked its return to the international debt markets this week, reopening 20-year euro-denominated bonds initially sold in January this year. Despite securing better pricing than it did on the initial issuance, EM investors aren’t particularly convinced there’s a bargain to be had.
14 Apr 2016
Nigeria inks US$6bn loan, currency swap deal with China
Nigeria’s president Muhammadu Buhari sealed a US$6bn loan and a currency swap deal with China this week as the country continues to search for liquidity to plug its deficit and stimulate economic activity.
14 Apr 2016
Arcos Dorados orders US$167.3mn loan
Brazil’s largest McDonald’s franchisee Arcos Dorados has received a loan with the intention of servicing the costs of older notes. Although many Brazilian corporates hold low credit ratings as a result of both internal and external factors, small improvements in the domestic economic climate is starting to translate into gains for some.
7 Apr 2016
Tapping into the MENA corridor, CFC Stanbic secures loan
CFC Stanbic Bank Kenya received a loan from a number of banks including Middle Eastern lenders as they search for new areas of liquidity.
6 Apr 2016
Iran issues debut ijara sukuk
In an effort to diversify its sources of funding and relieve the pressure on the local banking system, the Iranian government has launched a sukuk, a positive step forward for the global sukuk markets.
4 Apr 2016