Energy
Argentina’s Government is Electrifying the Power Sector, but Risks Remain
When Mauricio Macri took office, one month’s electricity bill was cheaper than a coffee for the medium-income inhabitant of the city of Buenos Aires. Porteños (the citizens of Buenos Aires) were accustomed to having their air conditioning turned on for the entire day while at the same time opening the windows of their apartments to rebalance the temperature. Meanwhile, electricity users in this…
11 Sept 2017
Middle East Credit Markets Brief: 17 August – 31 August
Saudi Arabia auctions local sukuk – Qatar growth to slow down – Warba Bank to make its debut in the loan market – Egypt sells EUR659.9mn worth of T-bills – Qatar keeping tabs on partners spooked by boycott - Iran gets credit line from South Korea’s Exim Bank – SMC secures a USD728mn credit facility – Iraq to get a loan from France
31 Aug 2017
Latin America Credit Markets Brief: 17 August – 30 August
Britain plans to double trade with Panama and Colombia – El Puerto de Liverpool tapped the local markets with a MXN10bn dual tranche bond – BNDES to transfer funds back to the government – Vale redeems 2019 notes – Argentina to tap the international markets again – Argentina holds rates – Crystallex to seize PDVSA assets –– Chile’s outlook gets downgraded – Jamaica to tap its 2028 and 2045 notes
30 Aug 2017
Africa Credit Markets Brief: 9 August – 23 August
NDB to lend US$1.5bn to South Africa – Standard Bank of South Africa to issue its first international bond in a decade – Lagos state issued a NGN85.1bn dual-tranche bond – Kenya to float T-bills – Eximbank USA gives Cameroon a CFA26bn loan –Ghana to cut spending in 2017 – Angola gets downgraded – Gabon places a US$200mn Eurobond – Moody’s slashed Tunisia’s credit rating
23 Aug 2017
Middle East Credit Markets Brief: 3 August – 17 August
Middle Eastern air carriers’ passenger growth disappoint – Goldman Sachs bough a piece of Aramco’s credit facility – Saudi Arabia mulls local sukuk – TAQA to refinance US$500mn bond - Doha Bank to sell UAE credit assets – Egypt’s FDI hit US$48.7bn – Bahrain picks banks for US bond – Iraq bond issuance received US$6.6bn in orders – Jordan might tap the international markets in 2017
17 Aug 2017
Benefits, Standards, and Price Harmonisation in the Sustainable Finance Market
MUFG has a wealth of expertise in energy and natural resource infrastructure finance, which lends itself quite nicely to understanding how to measure risk in areas ripe for green bonds and similar instruments, and the bank is of course very active in bringing borrowers into the green bond market. We speak with Geraint Thomas, Executive Director at MUFG and leader of the bank’s green capital…
11 Aug 2017
Russia, CIS, Europe & Turkey Credit Markets Brief: 29 July – 10 August
CBR keeps rates steady, readies sale of OBR bonds – Nickel production in Russia to remain flat this year – Naftogaz increases compensation demand from Russia by US$5bn – Engie may pull out of Nordstream 2 – Albaraka Turk readies US$400mn issuance – Bank lending in Turkey to rise in 2018
10 Aug 2017
Economic Woes hit Project Finance in Turkey
Project finance in Turkey continues to decline as geopolitical fears, high financing costs and low energy prices put a dent in demand and further strain the local lenders assets.
10 Aug 2017
Africa Credit Markets Brief: 27 July- 9 August
South African economy likely to return to growth – Nigerian government secures a loan from AfDB – Nigeria’s green bond suspended once again – Democratic Republic of Congo’s inflation to hit 44.64% – Kenya’s Treasury bonds outperforming the corporate debt – Rosneft seeks to open offices in Mozambique – Ghana sold a 5-year bond – Republic of Congo is heading for a default – Zimbabwe to double its…
9 Aug 2017
Middle East Credit Markets Brief: 21 July - 3 Aug
Qatar files complaint to WTO over GCC boycott – Dana Gas cancels its offer to exchange outstanding US$700mn sukuk – Iraq taps international markets with US$1bn bond - Dubai Aerospace Enterprise (DAE) prices a US$2.3bn triple-tranche bond - ADCB raised US$320mn through 5-year Formosa bond - Al Hilal Bank issues US$100mn bond
3 Aug 2017