CFO Insights
Chellarams CFO: ‘Bond Market in Nigeria Needs to be Less Prohibitive’
As the Nigerian sovereign steams ahead with fresh borrowing on the local and international debt capital markets, there are concerns corporates could be missing out on attractive new opportunities for investor diversification. Sandeep Kumar Sood, Group Chief Finance Officer at Chellarams plc., a Nigeria-based conglomerate with a presence in a range of sectors, speaks to some of these challenges.
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
Off the Record: Middle East DCM Must Evolve to Prosper in Challenging Times
As the annual Bonds, Loans & Sukuk Middle East Awards approaches, we discuss some of the themes emerging behind the scenes in Middle East debt capital markets, looking at concerns voiced by bankers, investors and CFOs in private discussions as well as the opportunities on the horizon for foreign FIs and investors looking to delve deeper into the region.
6 Oct 2017
San Antonio Internacional CFO on The Long Road to the Capital Markets
San Antonio Internacional, an oil and gas company, just finalised its initial public offering scheme with the Comision Nacional de Valores (CNV) – paving the way for its debut in the debt markets. Bonds & Loans speaks with its CFO, Pablo Miedziak on what the company is doing to prepare for its first foray into the bond markets, and its funding objectives for the next year.
25 Sept 2017
TIM Brasil CFO Sees Telecoms in Argentina, Brazil Mobilizing as Liquidity Returns
Brazil’s telecom sector was one of the region’s strongest performers, accounting for about 4% of the country’s GDP last year. But it was not immune to some of the country’s broader political and economic challenges, which in recent years has led to a liquidity crunch amidst even the largest reais-driven companies. Thankfully, a more prominent drive towards reform in Brazil means that trend is…
19 Sept 2017
Dar Al-Arkan Looks to Fill Shortage of Saudi Real Estate Firms in Dubai
The Saudi real estate development company Dar Al-Arkan tapped the Islamic markets with a USD500mn 5-year Sukuk in May this year, in the process drawing the attention of yield-hungry investors seeking hard-currency exposure in GCC fixed income. With new regulations expected to transform the sector and as KSA’s fiscal consolidation plan takes shape, we speak with Dar Al-Arkan CFO Mika Toivola about…
18 Sept 2017
Why Green Sukuk Could be a Growth Driver for Islamic Finance
Created to fund projects with positive environmental benefits, green bonds have become rapidly popular in Europe and Asia while gaining traction in the United States.
4 Sept 2017
Dufil Prima Foods COO on Nigeria's Economic Outlook and Bond Compliance Process
Nigerian regulators have made progress on managing the country’s challenging FX situation and narrowing the gap between official and black-market currency exchange rates, giving a much-needed boost to investor confidence. Madhukar Khetan, COO, of Dufil Prima Foods, which is lining up its debut bond issuance after nearly a year of planning, says the government now needs to tackle the regulatory…
7 Aug 2017
Carlos Martabit, CFO of Banco Estado: Chile’s Economy is on the Rise
2017 has certainly been the year for EM securities, as investors are driven out of the developed world by low rates. Bonds and Loans talks with Carlos Martabit, CFO of state-run Banco Estado, about the outlook for the Chilean economy, the Bank's funding strategy and the importance of reforming South America’s richest nation capital markets in its path to economic recovery.
17 Jul 2017
EuroChem Group CFO on Finding the Right Window to Optimise Cost of Debt
Russian fertilizer company EuroChem Group, which recently issued a very successful 4-year Eurobond, has aggressively expanded its operations in recent years, breaking into seven different markets on three continents. Bonds & Loans speaks with Group CFO Andrey Ilyin about the company’s funding strategy, investor diversification, and managing a tricky combination of high capex and declining output…
6 Jul 2017