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Energy

Africa Credit Markets Brief: 18 October – 01 November

BADEA to support economic development in the continent – SA budget deficit rose 4.3% – AfDB suspended a loan to Nigeria – Kenya to reopen 5-year notes – Ghana issued USD1.3bn of fresh debt – Tanzania struck a deal with Barrick Gold for USD300mn – Inflation in Zambia dropped – Zimbabwe hopes to cut budget deficit to 4%

1 Nov 2017

Latin America Credit Markets Brief: 12 October – 26 October

Nafin to return to the yen market – CFE issued a triple-tranche bond in the local market –Petrobras gets upgraded – Gerdau sold USD650mn in fresh debt – Argentina raises rates – Consumer prices to fall in Peru – The IMF might bail out Venezuela – PDVSA´s assets continue to rally – Guatemala gets downgraded – Bancolombia issued a ten-year bond

26 Oct 2017

Middle East Credit Markets Brief: 11 October – 25 October

GCC nations issued USD50.1bn of debt in 2017 – Flynas to start operating flights to Iran – KSA sold a SAR10bn in local sukuk – Abu Dhabi Commercial Bank issued a USD315mn kangaroo bond – QNB to refinance a USD3bn loan – Noga issued a USD1bn bond – Warba Bank syndicating a USD250mn loan – Jordan sold USD1bn of fresh debt – OETC considering a USD-denominated sukuk

25 Oct 2017

As MENA’s Economic Prospects Strengthen, Will Uncertainty Around PPPs Fade?

Following years of oil price-driven fiscal deficits, the latest data suggests growth in the MENA region is due to pick up in 2018 and 2019 – but will those renewed growth prospects lead governments to reconsider moving forward with a raft of critical projects that many were forced to delay? Analysts are optimistic, but whether those projects are financed through PPPs or more traditional…

24 Oct 2017

Brazil: Pushing the Right Buttons

The past 15 years in Brazil were marked by retrogression in the electricity sector, with questionable investments and misguided regulations. The Rousseff administration aggravated the situation alarmingly. There was no lack of warnings from specialists. There was too little dialog and too much incompetence. More recent developments suggest that likely solutions to the sector’s woes can often come…

23 Oct 2017

Russia, CIS, Europe & Turkey Credit Markets Brief: 05 October- 19 October

Western sanctions against Russia could stay in place for the next 10 years – Russia Railways issued a RUB15bn bond – Belarus could face further rate cuts – Kazakhstan’s Central Bank to sell USD1bn in assets – Hungary tapped the markets with 10-year notes – Diplomatic tensions take a toll on Turkey’s assets – Tupras sold USD700mn of fresh debt

19 Oct 2017

Africa Credit Markets Brief: 04 October – 18 October

AfDB approved a USD200mn funding facility for private sector projects –Foreign investors bought ZAR18bn of SA bonds – Zuma could face new corruption charges – Fidelity Bank tapped the international markets – IMF concerned about Nigeria’s debt – Ethiopia devalued its currency – CBK placed a 5-year bond – Mauritius to hit the local currency markets

18 Oct 2017

Latin America Credit Markets Brief: 28 September-12 October

UK aims to bolster trade relationships with South America – Mexico issued a USD1.8bn bond – Grupo Bimbo tapped the local markets with 10-year notes – IFC to invest USD200 in a plant in Brazil – Brazil sold USD3bn of fresh debt – Argentina to grow 3% in 2017 – Venezuela’s inflation to hit 2,300% in 2018 – Chile’s Colbun issued a 10-year bond – Venezuela’s securities hit a three-year high – El…

12 Oct 2017

Middle East Credit Markets Brief: 27 September – 11 October

Syndicated lending in EMEA down 9% to USD610bn in 2017 – Abu Dhabi’s USD10bn bond 3x oversubscribed – UAE’s Ajman Bank secures USD200mn syndicated Islamic loan – UAE banks looking to ditch Qatari assets over GCC rift – Saudi Aramco on course to complete IPO in 2018 – Saudi Arabia issues USD12.5bn international bond – Qatar mulling USD9-11bn bond sale

11 Oct 2017

CEFC Takes Stake in Rosneft as Russia and China Edge Closer

The final piece of the Rosneft-privatization puzzle appeared to fall into place, as initial investors Glencore and QIA agreed to sell the majority of their stake, purchased in December last year, to a little-known Chinese oil company. Yet the wider implications of the deal for the oil market and Sino-Russian ties are still unclear.

10 Oct 2017

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