CEEMEA
Bank of Georgia Group CEO on Deepening Local Currency Markets
Bonds & Loans speaks with Irakli Gilauri, CEO of BGEO Group about the company’s funding strategy, its first – and the country’s first – local currency Eurobond, and how other emerging market corporates can help deepen demand for local currency assets.
6 Nov 2017
BBH: Frontier Sovereign Rating Model for Q4 2017
BBH has produced the following ratings model to assess relative sovereign risk in Frontier Markets. A country’s score directly reflects its creditworthiness and underlying ability to service its external debt obligations.
3 Nov 2017
Russia, CIS, Europe & Turkey Credit Markets Brief: 19 October- 02 November
Rosselkhozbank to issue perpetual bonds – Petropavlovsk preparing its bond market debut –Croatia to hold a repo auction – Moldova cuts interest rates – Eurotorg issues Belarus’ first corporate bond – Greece to tap the international markets again – BOE hikes rates for first time since August 2016 – Relations between Turkey and the EU continue to deteriorate
2 Nov 2017
CASE STUDY: Cape Town Wins Race to Issue Africa’s First Municipal Green Bond
The City of Cape Town successfully placed ZAR1bn in new green bonds this Summer to fund a raft of sustainability initiatives in the city, proving once again that cities are a natural fit for sustainable finance instruments.
1 Nov 2017
Africa Credit Markets Brief: 18 October – 01 November
BADEA to support economic development in the continent – SA budget deficit rose 4.3% – AfDB suspended a loan to Nigeria – Kenya to reopen 5-year notes – Ghana issued USD1.3bn of fresh debt – Tanzania struck a deal with Barrick Gold for USD300mn – Inflation in Zambia dropped – Zimbabwe hopes to cut budget deficit to 4%
1 Nov 2017
In Cotton and Textiles, Nigeria’s Import Restrictions Create Opportunities for Mid-Sized Players
The domestic cotton and textiles sectors used to be a huge contributor to Nigeria’s GDP, but massive growth in the oil sector coupled with declining government support has marginalised the industry. Sumit Jain, CFO of West African Cotton Company (WACOT), talks to Bonds & Loans about how the company is working with the government to boost domestic production of cotton and foodstuffs, and how…
1 Nov 2017
CASE STUDY: Tabreed’s Innovative Islamic Loan Paves the Way for Future Sukuk Deal
Abu Dhabi-based National Central Cooling Company PJSC, better known as Tabreed, secured its first club loan through an AED1.5bn 10-year sharia-compliant facility, enabling the company to extended its debt maturity profile and appeal to new pockets of global and regional investors.
27 Oct 2017
Middle East Credit Markets Brief: 11 October – 25 October
GCC nations issued USD50.1bn of debt in 2017 – Flynas to start operating flights to Iran – KSA sold a SAR10bn in local sukuk – Abu Dhabi Commercial Bank issued a USD315mn kangaroo bond – QNB to refinance a USD3bn loan – Noga issued a USD1bn bond – Warba Bank syndicating a USD250mn loan – Jordan sold USD1bn of fresh debt – OETC considering a USD-denominated sukuk
25 Oct 2017
BBH: EM Sovereign Rating Model for Q4 2017
We have produced the following Emerging Markets (EM) ratings model to assess relative sovereign risk. An EM country’s score directly reflects its creditworthiness and underlying ability to service its external debt obligations. Each score is determined by a weighted compilation of fifteen economic and political indicators, which include external debt/GDP, short-term debt/reserves, import cover,…
25 Oct 2017
As MENA’s Economic Prospects Strengthen, Will Uncertainty Around PPPs Fade?
Following years of oil price-driven fiscal deficits, the latest data suggests growth in the MENA region is due to pick up in 2018 and 2019 – but will those renewed growth prospects lead governments to reconsider moving forward with a raft of critical projects that many were forced to delay? Analysts are optimistic, but whether those projects are financed through PPPs or more traditional…
24 Oct 2017