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The Daily Roundup

Dubai inks US$3bn loan – GCC hospitality looking up – Turkey boost SWF with government stakes – FCMB issues in the local market – Rwanda to sell CFA bonds – Peru wants former president in Odebrecht graft case – Klabin preps debenture – JP Morgan gets China interbank bond underwriting license – VEB to write-off RUB700bn in bad loans – NBK overhauls support framework for local banks

6 Feb 2017

CASE STUDY: Petroleum Development Oman (PDO) Makes Strong Debut with Pre-Export Loan Facility

Petroleum Development Oman’s (PDO) US$4bn senior secured pre-export term loan facility was the company’s debut credit deal, upsized on the back of strong demand from global investors, and the first ever oil pre-payment financing by the Omani government.

6 Feb 2017

CASE STUDY: Egypt Roars Back After Reforms, IMF Loan with US$4bn Eurobond

The Arab Republic of Egypt started 2017 with a bang, pricing an upsized US$4bn triple-tranche bond that is currently the largest single issuance out of Africa to date. The deal is a testament to renewed confidence in Egypt and its willingness to stick with important, albeit often unpopular, reforms, and secure the support of global multilaterals and its GCC neighbours.

3 Feb 2017

CASE STUDY: The First Greenfield Green Infrastructure Project Bond in Turkey

Rönesans Healthcare Investment issued Turkey’s first green infrastructure project bond to help finance the development of the Elazığ City Hospital, deploying a new and innovative credit enhancement scheme that helped the issuance soak up global investor liquidity and push the Turkish PPP market forward.

2 Feb 2017

CASE STUDY: Ezdan Holding Issues Debut US$500mn Sukuk in Quest to Diversify Funding

Ezdan’s debut US$500mn 5-year fixed rate trust certificates helped the company diversify its sources of funding, and created a broader platform from which Qatar’s leading real estate developer, owner and operator can grow its business in the future.

31 Jan 2017

African Underperformers Under Stress, But Causes Differ

Nigeria and Mozambique are both in crisis-mode, but the underlying causes mean investors should be cautious to treat each case separately. To paraphrase Leo Tolstoy, all healthy economies are the same, but the sick ones struggle in their own unique way.

30 Jan 2017

Access Bank CFO Seyi Kumapayi on Managing Risk in a Tough Market

Nigeria’s economy was hit hard in 2016 as the naira tumbled and revenues from oil imports dwindled, the result of a dramatic shift in monetary policy and persistently low oil prices, respectively. We speak with Access Bank CFO Seyi Kumapayi about the bank’s landmark bond sale in this challenging landscape.

25 Jan 2017

Interview with Phisanu Sermchaiwong, CFO, EQUATE

Against a backdrop of severe emerging market volatility and depressed oil prices, EQUATE’s acquisition of MEGlobal was a major milestone for the company, and will help solidify its global presence and leadership in the global petrochemicals industry. Financed by a well-structured and competitively priced US$6bn bridge acquisition facility, which was awarded the Syndicated Loan Deal of the Year…

16 Jan 2017

With Political Volatility on the Rise, South Africa’s DCM Prospects Remain Challenged

The past year has not been kind to South Africa, with a recent reprieve from a sovereign credit rating downgrade one of the few pieces of good news to greet analysts, the country’s treasurers, CFOs and capital markets professionals. Despite a brief upswing in activity through Q4, there are reasons to suspect the DCM outlook remains challenged to say the least.

12 Jan 2017

Koc Holding's CFO Ahmet Ashaboglu - Driving Efficiency Forward

This year has been particularly volatile for Turkish corporates, particularly those with large foreign currency exposure. For many, this means doubling down on efficiency and strengthening key processes to ensure financial and operational risk is minimised. We speak with Ahmet Ashaboglu, Chief Financial Officer at Koc Holding, one of Turkey’s largest and oldest firms, about how the company is…

6 Dec 2016

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