Energy
Middle East Credit Markets Brief: June 9 - June 23
GCC sukuk issuance topped US$22bn in 1H2017 – Saudi Arabia has a new heir to the throne – Saudi Arabia was added to MSCI’s watch list for a potential upgrade – UAE banks’ loan books grow by 2.13% – Dana Gas sukuk deemed “unlawful” – Qatar’s sovereign wealth fund has injected deposits into local banks to boost liquidity – QPSC said it expects to meet its earnings targets
23 Jun 2017
Latin America Credit Markets Brief: June 9 – June 22
Navistar Financial tapped the local markets – Temer denies corruption allegations – IFC is investing in Banco Industrial do Brazil – Temer received another setback in the Senate – Argentina issued a 100-year bond – MSCI snubbed Argentina – Davivienda issued a triple- tranche bond in the local markets – Chile issued a US$1.2bn bond – Panama’s inflation eased – Petroperu tapped the international…
22 Jun 2017
Middle East Credit Markets Brief: May 25 - June 8
GCC states break diplomatic and economic ties with Qatar – Syndicated loans in GCC at 4-year low – Saudi Aramco issues SAR285mn sukuk – NCB issues SAR1.3bn sukuk – ADWEA closes US$872mn funding package – Dana Gas prepares US$700mn sukuk – Qatar Airways secures US$300mn in mezzanine debt – Al Baraka issues maiden US$400mn sukuk – KNPC signs US$6.25bn international loan – Foreign investment in…
8 Jun 2017
Latin America Credit Markets Brief: May 26 – June 8
PRI scores a narrow victory in Mexico’s largest state – Brazil: JBS SA has the wind taken out of its sails – Argentina strikes new agreement with credit holdouts – Colombia’s Davivienda reveals big borrowing plans – Chile’s Codelco preps bond issuance – Peru, IFC mull US$2bn green bond issuance – Ecuador hits the international market – Venezuela moves to restructure debt with Russia – Uruguay…
8 Jun 2017
OPEC Cuts Extension Fails to Pump Up the Oil Market
The hard-fought agreement seems to have made little impact on the market, as oil prices showed negative dynamics in the aftermath of cartel’s announcement.
26 May 2017
CASE STUDY: Petrobras Reopens Latin American Credit Markets with US$4bn Trade
After a challenging year for Brazilian credit markets and a broader lull in the Latin American markets following the US election, Petrobras found a narrow window to launch a US$4bn dual-tranche bond as part of a liability management exercise that was oversubscribed by 5x.
19 May 2017
Africa Credit Markets Brief
AfDB calls for investment across Africa to close annual US$162bn funding gap – Kenya borrows US$1bn via syndicated loan – Nigeria raises mere NGN100bn in bond sale – Nigeria looking to secure US$5.2bn World Back funding package – Zimbabwe warns South Africa over proposed land reform – Russia’s Rosatom committed to nuclear plant project in South Africa – Senegal issues Eurobond – Saudi Aramco…
17 May 2017
Middle East Credit Markets Brief
Saudi Arabia loses market share in the oil sector – Saudi Electricity Co. in talks over sukuk – ACWA makes landmark 22-year trade – Etihad bonds drop on Alitalia news – UAE bankruptcy laws to improve operating environment – Dana Gas in debt restructuring talks – ADCB plans new issue – QNB hits the market, plans to make inroads in KSA – Bahrain feels FX strain – Oman in US$3.6bn loan talks – OETC…
12 May 2017
Challenge to Develop Fossil Fuels in Argentina Could Make or Break Macri’s Legacy
In 2015, centre-right candidate Mauricio Macri defeated the heir of former president Cristina Kirchner, thus ending almost 12 years of leftist rule. One of its initial promises was to attract foreign investors back to Argentina’s shore. However, over a year has passed and the new government seems to be having problems fulfilling its election promises.
11 May 2017
CASE STUDY: Ultrapar Makes Eurobond Comeback with US$750bn Benchmark Note
In Autumn 2016, Ultrapar, Brazil’s fourth largest company and one of the biggest downstream operators and fuel distributors, made an emphatic return to the international debt markets following an 11-year absence with a benchmark US$750mn 10-year bond.
11 May 2017