Projects & Infrastructure
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
PPP Reforms in Peru Raise Fresh Concerns Around Funding Sources
As some praise the new public-private partnership (PPP) reforms carried out by the centre-right government of Pedro Kuczynski, others question the impact they may have on construction companies’ abilities to secure financing.
5 May 2017
CASE STUDY: Parque Arauco Secures Lowest Yields in Chilean Corporate Bond Market to Date
Parque Arauco managed to secure the lowest yields of any Chilean issuer on comparable notes with its October 2016 issuance, a transaction that capped off an exciting evolution in the company’s financing strategy.
28 Apr 2017
Can Chile Get its Groove Back?
For more than three decades, Chile was the poster child of neo-liberalism, the country that followed diligently the IMF playbook. Such discipline was rewarded with impressive growth and the envy of its Latin American peers. By 2010, pundits predicted that Chile was but a few years shy of becoming Latin America’s first “developed” nation. The latest down-cycle, marked by both low copper prices and…
25 Apr 2017
Peru’s Infrastructure: Life after Odebrecht
As the Odebrecht scandal continues to cause chaos in Latin America, Peru must find an effective way to revamp its paralyzed infrastructure projects.
21 Apr 2017
[SPANISH] VIDEO: Interview with Clemente del Valle, President, National Development Financial Corp
Bonds and Loans spoke with Clemente del Valle, president of the National Development Financial Corporation during the Bonds and Loans and Derivatives Conference Andes 2017, about the challenges of funding the 4G programme.
3 Apr 2017
CASE STUDY: IC Construction Group Lays Groundwork for IPO with Project Finance Facility
IC İçtaş Enerji Yatırım Holding A.Ş. was able to utilise its close relationship with banks to rapidly close one of Turkey’s largest project finance loans of the year. The size of the project and the acquisition of two new HEPPs from the privatisation authority also managed to attract a larger group of lenders to the transaction.
8 Mar 2017
CASE STUDY: Crescent Capital Cleans Up with Well-Structured Acquisition Finance Facility
Crescent Capital was able to secure a unique project finance facility within the Turkish markets with a mezzanine facility structured as a Murabaha commodity purchase tranche, achieving a long tenor, an uncommon feature in this market, and structured as a true non-recourse facility.
7 Mar 2017
Copper Won’t Lead Chile’s Investment Recovery
For the past few years Chile has seen its worst economic performance since the crisis of 1981, largely the result of depressed copper prices – which have been falling since 2011. With copper being bested by rivals such as iron ore and nickel, persistent global supply disruptions, and a lack of economic diversification, some have wondered whether Chile could continue to lose out on critical…
2 Mar 2017