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Sustainable Finance

Will ESG Standards and Ratings Heterogeneity Kill the Sustainable Finance Market?

As the world continues to embrace ESG-led investing, a dizzying array of standards and ratings tools has emerged to help clarify the underlying non-economic impact of an investment and help investors make sense of ESG-linked assets. This explosion in ratings, criteria and standards, however, could sow more confusion than they aim to resolve.

24 Aug 2018

CASE STUDY: Atlas Renewables Prints One of Latin America’s First Green Project Bonds

The unique A/B private placement structure was a rarity in the capital markets in light of its inclusion of both senior and subordinated tranches. It’s also the third green project bond issued out of Latin America.

22 Aug 2018

Luft Energia CEO Doris Capurro Eyes Multilaterals, ECAs for Argentina Renewables Funding

Doris Capurro, President, CEO & Founder, Luft Energia talks to Bonds & Loans about the company’s renewable energy development plans, and its bid to tap into multilateral development institutions and export credit agencies to help finance the next wave of projects in the pipeline.

16 Aug 2018

Interview: Mybucks Taking a Lead in Microfinancing Space Across Africa

Financial inclusion has been a challenge that African FIs have struggled to overcome for decades, with vast chunks of the population remaining unbanked to this day. Now a number of microfinance institutions are using fintech tools and disruptive technologies to bridge that gap. Tim Nuy, CEO of Mybucks, spoke to Bonds & Loans about the company’s achievements and goals for this year.

3 Jul 2018

Governance, Transparency Concerns Holding Institutionals Back from Nigeria’s Corporate Bonds

Corruption, corporate governance and transparency is a perennial concern among emerging market fixed income investors, with the lack of clear governance structures and opaque financials frequently causing headaches for credit analysts and their compliance teams.

20 Jun 2018

CASE STUDY: AfDB Extends Euro Curve with EUR1.25bn 10-year Social Bond

On 16 May 2018, the African Development Bank (AfDB) successfully priced a EUR1.25bn 10-year Social Bond transaction. The issue follows the inaugural EUR500mn 7-year Social Bond issued in November 2017.

7 Jun 2018

Case Study: Indonesia Serves Up Benchmark-Setting Green Sukuk

Indonesia navigated a challenging and volatile market to place a USD3bn dual-tranche green sukuk, which will go towards supporting the country’s efforts to combat climate change.

26 Apr 2018

Green Bonds Move Forward – But Same Old Questions Persist Unanswered

Global green bond issuance surged to record levels in 2017 with more than USD155bn issued globally, but despite a 78% increase in issuance volumes and the development of innovative new products, analysts contend the market’s growth remains hamstrung by the same old issues as they wait for green’s watershed moment.

24 Apr 2018

Sunny Outlook for Egypt’s Renewables as DFIs Make Way for Commercial Banks

The first two stages of the Egyptian government’s solar and wind programme have been somewhat hit-and-miss, but increased development bank involvement sets the next stage on a path to encourage wider private sector participation. Third time’s a charm – but only if local and commercial lenders play their part, analysts suggest.

23 Jan 2018

CASE STUDY: Invenergy Winds Up Uruguayan Market with 20-year Project Bond

Invenergy’s 70-megawatt Campo Palomas wind project, located in the Salto Department of Uruguay, launched an investment-grade USD135.8mn in the US Private Placement Market. Campo Palomas is Invenergy’s first project in Uruguay as it continues to expand its presence in Latin America.

18 Jan 2018

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