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Projects & Infrastructure

Eskom set to receive loan

South Africa’s Eskom will receive a loan from the New Development Bank. The transaction highlights the vital role that Development Finance Institutions play in African infrastructure projects, but also raises questions over why a corporate connected to the state would need to access external funding.

25 Apr 2016

Global Ports floats Eurobond

Russian corporate Global Ports has issued its debut Eurobond amid large demand, due in part to the rarity of debt issuances from the country. Although there are opportunities for non-sanctioned corporates to tap the international markets, their credit fundamentals play an important role in determining whether they are able to issue or not.

15 Apr 2016

Video: D.C. Moore, Chief Investment Officer, CIG

What projects are in the pipeline in Africa?

15 Apr 2016

Real estate to drive GCC issuances ahead of World Cup, Expo 2020 Dubai

Qatari real estate heavyweight Ezdan Holding Group announced plans to raise up to US$2bn in Islamic bonds. The move could be a sign of more issuances from real estate firms to come, according to fixed income analysts.

12 Apr 2016

Japan to triple lending for Latin American infrastructure projects

The Japanese government is looking to boost the amount it lends to Latin American infrastructure projects in a recently announced agreement with the Inter-American Development Bank (IDB).

11 Apr 2016

Nigeria mulling Panda bonds as funding gap widens

Nigeria looks likely to tap a broad range of funding sources including the Chinese offshore bond market in a bid to stem the impact of declining oil and commodity-related revenues and finance key infrastructure initiatives.

11 Apr 2016

Uncovering Egypt’s covered bonds

The introduction of covered bonds in Egypt will likely boost foreign participation in an economy that has seen heavy underinvestment in recent years.

8 Apr 2016

Nigeria’s debt mountain grows

Nigeria is looking to raise significant capital from its domestic markets as part of a wider financing plan. Despite the high levels of debt, it is unlikely the sovereign will be over-leveraged, and the depth of the country’s local debt markets mean there will likely be demand for the issuances.

6 Apr 2016

Kenya to test appetite with possible Eurobond

One of the better performing sovereigns in Africa could tap the Eurobond markets. Although the shape of Kenya’s economy looks promising for investors, possible corruption and an election next year could mean that any Eurobond’s yield would have to be significantly higher than that seen on the last issuance.

5 Apr 2016

China Exim Bank makes its mark in Africa

African economies have struggled from low commodity prices and weakening demand due to their close links with China. However, the continent’s largest trading partner is investing considerable funds in the region to prop up infrastructure projects, which are crucial for the development of the region’s economies.

4 Apr 2016

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