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Projects & Infrastructure

Kenya Roads Board Bond ‘Potential Game Changer in Domestic Debt Investment’ – Sterling Capital

Kenya Roads Board (KRB) is set to issue a KES150bn bond on an annual basis over the next five years. The proceeds of the bond will be used to finance infrastructure development.

11 Mar 2020

On the Ground and Off the Record: What Will Drive the Infrastructure Sector in Saudi Arabia This Year?

The year ahead looks to be a busy one for Saudi Arabia. A strong project pipeline will provide opportunities for many inside and outside the country, but the sheer scale and complexity of these will test the market, according to bankers, corporates and investors who spoke with Bonds & Loans on a recent research trip to the region.

6 Mar 2020

CASE STUDY: Al Dur 2 IWPP Secures Long-Term Capital Despite Tough Ratings, Economic Outlook for Bahrain

The multi-faceted USD880mn long-term funding package made use of a number of innovative structural features to help overcome any concerns among liquidity providers over Bahrain’s economic outlook or sovereign rating.

27 Feb 2020

Latin America 2020: The Good, The Bad, and The Ugly

Take a good look at Latin America’s 21 countries today, and one quickly concludes that this is not a region moving in unison but rather a patchwork of divergent political and economic motors firing at different speeds, taking each in different directions. Rarely has it been this challenging to analyze Latin America as a whole, so it seems appropriate to showcase Latin America’s differences…

11 Feb 2020

Regulatory Tweak Expected to Boost Foreign Investment in Paraguayan PPP Projects

So far a lot of institutional investors from Europe and North America have been cautious of the construction and other risks associated with public works projects in the Southern Cone nation, but this may all change following an upcoming legislative change.

29 Jan 2020

Brazil Enjoys Record High Debenture Issuance Despite Regulatory Constraints

With an infrastructure gap estimated at USD50bn annually, Brazil is falling behind many of its regional peers. As the state pulls back from financing projects, private investors are ready and willing to step in – but many tell Bonds & Loans they need a steady and enabling regulatory environment to find their footing in the sector.

24 Jan 2020

Ferroport Debt Refinanced with Alternative Payment Schedules and “Funky” Use of Collateral

Ferroport’s USD350 million project bond issuance and Brazilian debenture bridge financing included very innovative uses of flexible payment profiles and cash escrow accounts. It was also rare 144z/RegS single-offtaker deal, carried out in a jurisdiction that is typically quite challenging for project financings.

22 Jan 2020

Niger State Looks to Borrow up to NGN25bn to Capital Markets

Niger State Governor Alhaji Abubakar Bello has written to the House of Assembly to request legislative approval to issue up to NGN25bn (approx. USD69mn) in sukuk.

21 Jan 2020

Saudi Arabia Launches Third Round of National Renewables Programme, Targets 1.2GW Generation

Saudi Arabia’s Ministry of Energy kicked off the third round of Kingdom’s National Renewable Energy Program (NREP) and is seeking bidders on new projects with a total generation capacity of 1.2GW.

10 Jan 2020

GCC Projects Benefit as Costs Drop, Liquidity Improves – But Bond Financing Still “Long Way Off”

Three years after Abu Dhabi’s recently completed 1.17GW Sweihan photovoltaic (PV) plant attracted what were at the time record-low tariffs, GCC-focused project developers continue to break new barriers as tried and tested PPA and project funding structures begin to crystallise and the cost of funding drops.

13 Dec 2019

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