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CASE STUDY: Russian Railways Rides Through Volatility with Record-Breaking CHF250mn Green Bond

The issuer “boarded the last train” as EM bonds plummeted on the back of coronavirus-related fears, securing the tightest pricing for any Russian corporate issuing in the swiss franc market.

13 Mar 2020

Green Bonds Offer Marginally Lower Yields on Average – MSCI

Green bonds tend to offer 0-2bp lower yield than their conventional counterparts, according to research from MSCI. This is more pronounced in bonds issued by corporates with a higher overall ESG rating.

13 Mar 2020

CASE STUDY: Taweelah Green Loan Underpins Largest Reverse-Osmosis Water Desalination Project in the World

The USD758mn non-recourse project finance facility raised by Saudi-based ACWA Power, a rare green loan from the Middle East, will fund the construction of the Taweelah IWP in Abu Dhabi, which will be the world’s largest reverse-osmosis desalination plant upon completion in 2022.

12 Mar 2020

Russian Railways “Catch the Last Train” with Record-Setting Swiss Franc Green Bond

The new 6-year notes, part of RZD’s green bond programme, priced at a stunning 0.84% just as global markets began shutting down due to coronavirus-related shocks.

11 Mar 2020

Russia’s GTLK Braves Market Volatility to Issue USD600mn Eurobond

The issuance came at a significant premium and questions have been raised about the timing, as a 50bp Fed rate cut arrived shortly after the placement.

5 Mar 2020

Alhokair Group Inks Islamic Loan and Revolver with Local and Regional Lenders

Alhokair Group secured a USD800mn funding package this week from a handful of domestic and regional lenders in a bid to consolidate its debt, the company said.

5 Mar 2020

Atlas Renewable Energy Prints Largest Latin American Solar Green Private Placement

Atlas Renewable Energy sold a USD253mn private placement in US markets this week to refinance debt linked to two solar PV power plants in Chile, the largest US solar green private placement out of Latin America to date.

4 Mar 2020

Volatility Could See Gulf Issuers Shun Bonds for Loan Markets

With spreads widening and bond pricing on the rise, some Gulf-based issuers are looking to maintain a holding pattern until market volatility subsides, while others could lean on the region’s large lenders for funding.

3 Mar 2020

CASE STUDY: Al Dur 2 IWPP Secures Long-Term Capital Despite Tough Ratings, Economic Outlook for Bahrain

The multi-faceted USD880mn long-term funding package made use of a number of innovative structural features to help overcome any concerns among liquidity providers over Bahrain’s economic outlook or sovereign rating.

27 Feb 2020

CASE STUDY: Grupo Gondi Tags Rare 10-Year LCY Tranche on Term Loan and USPP for Bond Refinancing

Over 2x oversubscription on the upsized term loan and US private placement allowed Grupo Gondi to introduce a competitive dynamic between loan and PP demand, maximizing maturities and achieving the lowest price.

26 Feb 2020

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