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
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
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
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’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
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
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