Deal analysis

  • Royal Group: Boost for onshore deals in Cambodia

    01 Dec 2009

    A Cambodian company has successfully closed the country's largest-ever M&A deal. The deal was financed onshore by a group of international banks, showing the potential for foreign interest in south-east Asian deals that have the right structure

News analysis

  • US covered bond amendment welcomed

    16 Dec 2009

    The amendment to proposed legislation governing covered bonds has been welcomed by both Republicans and Democrats

  • Banks endorse HK listing committee’s Rusal stance

    15 Dec 2009

    As Rusal’s proposed IPO in Hong Kong was delayed again last week, those close to the company have endorsed the listing committee’s approach

  • Dubai World in quotes

    10 Dec 2009

    From schizophrenic investor presentations to the UAE’s immature insolvency regime, IFLR spoke to the lawyers closest to Dubai World and found out what they really think about the default in the Middle East

  • Eurobonds saved by US tax amendment

    10 Dec 2009

    An amendment to proposed US tax legislation has provided foreign bearer bonds with an exemption to excise tax

  • First US sukuk boosts Islamic finance

    10 Dec 2009

    GE Capital’s $500 million sukuk programme is the first investment grade sukuk by a US corporate and it will increase the appetite amongst US companies for Islamic finance

  • Grandfathering provisions offer US bearer bonds reprieve

    10 Dec 2009

    Concerns that the proposed Foreign Account Tax Compliance Act would severely hamper the ability of US companies to issue bearer bonds have been eased by an amendment

  • IPO underwriters exposed by Indonesian regulations

    10 Dec 2009

    Indonesia’s first international initial public offering (IPO) this year has revealed the impact of Bapepam’s new offering regulations on underwriters

  • Why Dubai World should not taint sovereign debt

    10 Dec 2009

    Investors holding sovereign bonds in Asia should not be alarmed by the struggles for recourse in Dubai World’s Nakheel bonds

  • Chinese regulator could prompt more derivatives advice

    04 Dec 2009

    Banks could demand that their corporate counterparties in China seek more advice on trades, after a senior Chinese regulator criticised international banks

  • How Nakheel could test UAE restructuring laws

    04 Dec 2009

    The international investment in Nakheel’s bond will mean UAE legislation and restructuring tools could be used for the first time

  • Nakheel: getting your money back

    04 Dec 2009

    Recourse on Dubai World's Nakheel bonds could depend on what creditors are holding, and the law their lending documentation was structured in

  • Rating agencies to downgrade hybrids

    04 Dec 2009

    Rating agencies are beginning to remove systemic and regional support from the way they assess hybrid securities and subordinated debt. Alongside wider notching, this means likely downgrades

  • SFC’s Wheatley warns of sovereign debt risk

    02 Dec 2009

    Overpriced sovereign debt could be the next burst bubble, according to Hong Kong’s top regulator, Martin Wheatley

  • ECB ratings change could cause deal flood

    01 Dec 2009

    The European Central Bank's (ECB) requirement of two qualified ratings on asset-backed securitisations (ABS) could force a rush of struggling institutions to originate new deals

  • Chinese regulator prompts more derivatives advice

    01 Dec 2009

    Banks could demand that their corporate counterparties in China seek more advice on trades, after a senior Chinese regulator criticised international banks for ''maliciously'' selling derivatives

  • More meritocratic financing in Middle East

    01 Dec 2009

    Granting financing to prominent borrowers based on family name or reputation has long been a common practice across the Middle East. But with liquidity stretched and the region's banks looking more carefully at their risk profile, name lending could be on the way out

  • A welcome easing of Talf

    01 Dec 2009

    The Federal Reserve Bank of New York (NY Fed) is considering easing its stance on granting loans through the Term Asset-backed securities Loan Facility (Talf) for commercial mortgage-backed securities (CMBS)

  • Fears on fraudulent Chinese offering documents

    01 Dec 2009

    Counsel in Hong Kong and China are concerned that the quality of disclosure on some Chinese company offering documents is being sacrificed in a bid to catch the latest stock market rally

  • Building a department

    01 Dec 2009

    A new legal team in a new bank, launched in the middle of a financial crisis. It was a big challenge for Noor Bank's head of legal, Omar Rahman

  • Nakheel: get your money back

    01 Dec 2009

    The position of creditors depends on the bonds they hold, and how local law plays out with hedge funds involved

  • Legislation, quick

    01 Dec 2009

    It's looking good for legislation to provide certainty for US covered bonds. But European banks are also pushing to issue dollar-denomiated versions. The race is on

  • CoCo bonds could be one-off

    01 Dec 2009

    Lloyds's exchange offer was popular with both investors and regulators. But any future deals will have to deal with several areas of legal uncertainty

  • New pools, but new rules

    01 Dec 2009

    As Asia's first exchange-backed dark pool launches, the US and Europe are proposing rules to crack down on them

  • The possible solutions

    01 Dec 2009

    How Indonesian bonds could avoid new tax regulations

  • There's just no one else

    01 Dec 2009

    Why are US mortgage Reits so popular, given that so many failed during the financial crisis? Because there are no banks

  • Hybrids down and banks not up

    01 Dec 2009

    Rating agencies are downgrading hybrids due to the removal of systemic and regional support from their process. And although banks are recovering, upgrades are unlikely

  • Will anyone use it?

    01 Dec 2009

    Mezzanine lenders have won some key concessions in the revised LMA standard form intercreditor agreement. But they might never appear

  • Similar objectives, subtle differences

    01 Dec 2009

    The treatment of secondary trading of transferred loans is different in England and New York in some surprising ways



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