Deals
Colombia’s ISA to issue local bonds
Colombia’s main electricity company has issued peso denominated bonds as part of a wider local currency debt raising plan. The company turned to the local market because of its growing strength as international investors continue to sell out of EMs.
18 Feb 2016
As local funding dries up, who will fund MENA’s infrastructure pipeline?
As public purses, bank deposits and liquidity continue to dry up amid sustained low oil prices the MENA region looks set to encounter a massive infrastructure funding gap, raising questions about the sustainability of the region’s pipeline.
12 Feb 2016
Royal Jordanian Airlines lands large syndicated loan
Royal Jordanian Airlines managed to secure a syndicated loan, bringing in banks from across the Gulf Cooperation Council region. This could prove to be a rarity in the future as liquidity continues to tighten.
12 Feb 2016
Omantel U-turns on sukuk issuance
Omantel has reversed its decision to issue a dual currency sukuk for general financing purposes. If the country can stabilise its economy to get better rates it may re-issue the sukuk at a later date.
12 Feb 2016
Mexico’s FEFA prices bond
Local bond issuances are seeing a revival in Mexico, one of the strongest emerging markets. But ultimately, currency volatility could determine the popularity of these bonds.
11 Feb 2016
Brazil’s UTC Engenharia issues debentures amid the country’s debt crisis
Brazilian Holding Company UTC Participacoes and its engineering subsidiary UTC Engenharia raised BRL862mn (US$215mn) dollars in debt through two debentures.
3 Feb 2016
Nigeria to debut sovereign sukuk in May
African sukuk issuances have been rare in the past. Recently, some countries in the region including Nigeria have considered sukuk offerings to broaden their access capital, but appetite may be low with the region under pressure fiscally from low oil prices.
29 Jan 2016
A Nigerian sukuk could outperform its Eurobonds
Nigerian Eurobonds are providing investors with high yields, but they come with added risk due to the state of Nigeria’s economy. The country is trying to stem a revenue loss from low commodity prices. Further Eurobond issuances are planned but are likely to be affected by oil woes. A sukuk issuance in May could fare better.
29 Jan 2016
Qatar could issue sukuk as early as March
Sukuk issuances from the Middle East are expected to increase in 2016, but few are likely to receive as much interest as Qatar if it re-joins the international debt capital markets after a four-year hiatus.
27 Jan 2016
Sharjah issues 5 year sukuk amidst declining demand for Islamic bonds
The Government of Sharjah has issued a benchmark 5 year dollar denominated sukuk. Competition from other issuers could affect its popularity among investors, alongside current market conditions and regional issues.
21 Jan 2016