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Projects & Infrastructure

SRC CEO on Balancing Funding, Increasing Home Ownership, and Avoiding Western-Style Hubris

The Saudi government has set itself the ambitious task of turning roughly 70% of the population into homeowners, leading to a rapid step-up in mortgage provision and bolstering the need for balance sheet solutions required to keep the all-important liquidity wheel turning. That’s where Saudi Real Estate Refinance Company (SRC) comes into the picture. We speak with Fabrice Susini, the CEO of SRC,…

4 Dec 2019

SWOT Analysis: Privatisation and Domestic Issuances Driving Markets in Brazil

Bonds & Loans examines the strengths, weaknesses, opportunities and threats facing the Brazilian market following a research trip to the region.

22 Nov 2019

CASE STUDY: Fibra Uno Secures Latin America’s First Sustainability-Linked RCF

The Mexican REIT followed up its June USD1bn issuance with an impressive USD1.1bn dual-tranche revolving committed credit facility, with the spread linked to pre-agreed sustainability KPIs, an instrument that was the first of its kind in the region.

15 Nov 2019

Azizi Developments CFO Sees UAE Property Market Recovery in 2020

The UAE property market has made headlines throughout 2018 and 2019 – but largely for the wrong reasons, with oversupply and subdued demand straining balance sheets against the backdrop of sluggish economic growth. But not all property developers seem downbeat about the sector’s prospects. Fresh off securing the company’s debut credit rating, Mika Toivola, CFO, of Azizi Developments, a…

13 Nov 2019

Kenya: Capacity Building Vital to Local Investment in Energy & Infrastructure

Kenya currently faces an infrastructure financing gap of USD4bn, according to data from the World Bank, with the government’s recent borrowing spree unlikely to plug it. Bonds & Loans hosted an exclusive breakfast roundtable discussion with bankers, developers, and investors to explore the bottlenecks preventing local institutions from investing Kenyan money in Kenyan projects.

6 Nov 2019

Mexico’s Real Estate Sector Builds Momentum Even as Wider Markets Slow

A sleepy summer period for Mexico’s capital markets was awoken by a slew of real estate deals, including bonds issued by Fibra Uno and Terrafina, but the extent to which these issuances reflect sustained resilience and heightened activity in the sector, at a time when a slowing economy is posing challenges for most corporate issuers, remains unclear.

29 Oct 2019

CASE STUDY: Key Autopista Al Mar 2 Project Financing Closed Despite Trade Tensions

One of the most recent infrastructure development projects to be closed in Colombia encountered some last-minute hurdles due to the escalation in tensions between the US and China, making it among the most complex financings out of this country in recent years.

23 Oct 2019

Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead

EM benefited greatly from the improvement in US-China trade relations and quite possibly Brexit. The dollar is likely to remain under some pressure near-term as a result. Yet we must caution investors against getting too optimistic. The details of the partial trade deal still need to be worked out, while existing tariffs will still remain in place if the deal is signed next month as most expect.…

14 Oct 2019

SWOT Analysis: African Credit Markets in 60 Seconds

Bonds & Loans examines the strengths, weaknesses, opportunities and threats across Africa following a research trip to the region.

10 Oct 2019

SWOT Analysis: GCC Credit Markets in 60 Seconds

Bonds & Loans examines the strengths, weaknesses, opportunities and threats across the GCC following a research trip to the region.

3 Oct 2019

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