Policy & Government
Argentina’s Corporate Debt Reaches a Crossroads
Issuances by Argentinian corporates have received a lot of attention from international investors since the country returned to the capital markets in 2015. But as Latin America’s fourth largest economy continues to underperform, some ask how long will the rally last?
14 Jul 2017
Kazakh Megamerger Brings Relief as Concerns over CIS Banks Linger
Kazakhstan largest bank’s US$560mn takeover of its biggest rival is expected to bring more stability the country’s fragile banking system and leave a positive footprint on CIS economies.
14 Jul 2017
10 Years After the Banking Crisis: Why Regulation Still Matters
The regulations put in place after the financial crisis of 2007/2008 forced banks to keep their books in check, ultimately helping them to become healthier institutions. However, as the global economy stabilized, some experts are starting to question the necessity of these new laws, as the regulatory framework takes a dent in banks’ profits.
13 Jul 2017
Africa Credit Markets Brief: June 29 – July 12
South Africa’s Myriad International Holdings tapped the international markets – Eskom signed loan agreement with China Development Bank – Private sector activity in South Africa fell in June – Nigeria sells T-Bills worth NGN31.9bn – Nigeria’s government intervenes to avert the collapse of Etisalat Nigeria – Kenya delays plans for maiden sukuk – Chad attempts to delay loan repayment – Gabon gets…
12 Jul 2017
A Shariah-Compliant Default? The Curious Case of Dana Gas Sukuk
The decision by the Abu Dhabi-based gas producer Dana Gas to declare two ostensibly shariah-compliant sukuk worth US$700mn “unlawful” has created a climate of uncertainty among investors and issuers alike, posing uncomfortable questions for the US$2tn Islamic Finance industry.
11 Jul 2017
Middle East Credit Markets Brief: June 23 – July 6
Dana Gas sukuk-holders demand UK court overturns injunction – IDB approves US$1.96bn funding on development in member states – Qatar downgraded as 5-year CDS rise 60bp – Saudi headline PMI drops to 8-month low – US laptop ban lifted on Abu Dhabi and Dubai airlines – Qatar Airways looking to purchase 10% stake in American Airlines – Egypt delays 5-year Treasury bond sale
6 Jul 2017
Latin America Credit Markets Brief: June 22 - July 5
Global debt reaches US$21tn – Mexico’s Central Bank completes annual hiking cycle – Brazil’s Temer indicted with corruption charges – Banco Mercantil del Norte places US$900mn – Argentina’s Cordoba province taps international markets with US$450mn bond – Colombia Movil closes US$300mn syndicated loan – Ecuador downgraded by S&P from ‘B’ to ‘B-‘ – Discounted Venezuela bonds now trading on Wall…
5 Jul 2017
Transneft vs Sberbank Ruling Threatens to Derail Russia’s Derivatives Market
The court’s decision to award the oil pipeline monopoly RUB67bn in compensation for an options trade originating in 2014 could take a trillion-rouble toll on the country’s secondary markets.
4 Jul 2017
Brazil: The Silence of The Streets
In the midst of a political crisis that is threatening the mandate of Michel Temer, a president with single-digit approval ratings, the silence of the streets seems strange to many analysts and critics of a supposedly passive society.
4 Jul 2017
Can Ecuador Win Back Investors’ Hearts and Minds?
Ecuador’s recently elected President Lenin Moreno will need to break free from his predecessor’s shadow if he wants to send a strong signal to investors that Ecuador is open for business.
3 Jul 2017