This year was not particularly forgiving for emerging market assets. Rising US interest rates and a strengthening US dollar coupled with a wider shift from quantitative easing to tightening led to broad-based repricing across the investment landscape. It was also a year that saw political and policy uncertainty, trade wars, and commodity and asset price volatility weigh heavily on market…
28 Dec 2018
Global growth concerns are likely to keep EM on its back foot. China and the eurozone reported weak economic data Friday, and even a much stronger than expected US retail sales report was not enough to turn market sentiment.
17 Dec 2018
Omantel, Oman’s majority state-owned telecommunications company, last year completed a USD2.25bn acquisition of shares in Zain Group, a regional competitor. The deal was funded with a bridge loan that was later refinanced with a term loan and the largest corporate bond issued out of the country – a dual-tranche senior secured offering which attracted a wide group of investors from around the…
7 Dec 2018
The GCC is rarely known for doing anything in half-measures, and infrastructure projects – which have grown in number and size in recent years – are no exception.
4 Dec 2018
Against a fairly challenging market backdrop, borrowers in Turkey have pushed through with a number of landmark transactions in 2018 as they look to prioritize risk and liability management. With an economic recovery on the horizon, we speak Eda Tanyel, Head of Structured Finance at HSBC in Turkey about the credit market outlook for the remainder of the year and beginning of 2019, how corporates…
30 Nov 2018
Mohammed Khnifer, Senior Associate, Debt Capital Markets at the Islamic Corporation for the Development of the Private Sector (ICD), spoke to Bonds & Loans about Saudi Arabia’s real estate sector, the upcoming inclusion of Saudi debt in the JP Morgan indices, and the development of regulation within the country.
28 Nov 2018
Turkey’s credit fundamentals are deteriorating, squeezed by high exposure of the corporates to USD debt and rising NPLs. Strong and transparent policy measures – including supporting local banks if necessary – are needed to breath life into the economy, Novruz Bashirov, Portfolio Manager at Rimrock Capital, told Bonds & Loans.
26 Nov 2018
The outlook for GCC credit remains buoyant through the remainder of the year despite a brief lull through the summer months. Still, deeper and more frequent questions about the structural challenges faced by many of the GCC economies suggest more uncertainty lies ahead in the longer term, according to bankers, borrowers, investors and economists who spoke with Bonds & Loans on a recent research…
23 Nov 2018
Bonds & Loans speaks with Burcu Geris, Vice President and CFO, TAV Airports Holding about the company’s funding objectives and how markets are influencing the company’s approach to fundraising.
22 Nov 2018
This year’s Bonds, Loans & Sukuk Middle East Awards saw no shortage of firsts as the regions borrowers and finance professionals pushed the boundaries of the possible through new structures and techniques in a range of transactions.
16 Nov 2018