Middle East Report
The remarkable political events in the Middle East this year have made their mark on the local capital markets, but confidence in the region - both as a capital markets hub and as a deal generating region - remains.
Satorp launches first project sukuk
The first project sukuk issue for the Satorp refinery aims to diversify the investor base for the project and broaden possibilities for the Saudi capital markets. By Isla Binnie.
Exploring Islamic agency
Wakala is frequently used on financing transactions. By Andrew Hart, partner, Alex Childs, associate, and Vanessa Ross, trainee, in the energy practice at Fulbright & Jaworski International LLP in London.
Muharraq - Middle East pathfinder
The Muharraq wastewater project reached close in September 2011, more than two years after the RFP was released to bidders. By David Wadham, partner in the energy, transport and infrastructure group, Ashurst LLP.
M&A set to be driven
The M&A market in the Middle East, like other regions around the globe, has been directly affected by the global financial crisis and the instability that has continued in its wake. By Darren Davis, managing director, head of resources and energy group MENA, HSBC.
Selective pickings across Middle East
Political uprisings, the deepening eurozone crisis and lenders’ tightening liquidity have severely dented internationally syndicated loan activity across the Middle East this year, bringing volumes to the lowest level since 2004. By Michelle Meineke.
Down the flexible road
The Salik financing could be a template. By Christopher Hall, Craig Nethercott, partners, and Aaron Bielenberg, Chirag Sanghrajka and Arjun Ahluwalia, associates, Latham & Watkins.
S3 navigates the gap
The Shuweihat 3 deal – a return to normality in the Gulf IPP finance market or a brief respite? By Harold Fairfull, managing director, Consilium.
Egyptian banks back EHC
Local is going large in the financing of Egypt Hydrocarbon Corporation’s ammonium nitrate facility. By James Bishop, chief financial officer, Carbon Holdings and Clare Kimber, energy, infrastructure and project finance practice, White & Case.
Bookbuilding IPOs struggle to take hold
Bookbuilt IPOs are yet to take off in the Gulf region. Their complex nature is said to deter retail investors, who favour the fixed price option to the more complex and often unpredictable bookbuilding process. By Hafsa Kara.
Prospects for PPPs in the Middle East
The Gulf and the wider Middle East should be a fertile ground for private infrastructure investment. By Ivan Woods, head of infrastructure advisory, and Holly Hyde, BDO Corporate Finance (Middle East) LLP.
Covered Bond Survey 2011
Welcome to IFR’s inaugural Covered Bond Survey. This is the first in an occasional series published by IFR; future surveys will cover similarly core areas of the global capital markets. The surveys are conducted anonymously and are designed to offer market participants constructive insights into how specialists view the landscape, and what they view as key concerns, challenges and opportunities.
Pfandbriefe/Covered Bonds Report 2011
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Sovereigns, Supranationals & Agencies 2011
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Turkey Report 2011
In little over a decade, Turkey has gone from being the sick man to the rich man of Europe. While other European countries have come through the crisis indebted, stunted and broke, Turkey has gone from strength to strength. Last year was a watershed, with growth coming in at 8.9%, inflation in low single digits and real interest rates close to zero.
