European sponsors are looking beyond portability when negotiating borrower-friendly covenants into high-yield documentation, further bifurcating the private equity and corporate deal structures
Private equity in Africa is approaching a juncture, with more capital set to enter non-traditional markets and local policymakers looking to harness the investment model to fuel growth
Spain’s stock market operator last week launched an alternative fixed income market designed to connect small and medium-sized enterprises with institutional investors
Discretionary authority and regulatory frameworks that are ill-suited to local market realities are damaging foreign investors' local operations. Here's what lawyers can do about it
The bond market will help fill Turkey’s project funding gap, but it’s no panacea Turkey's first infrastructure bond has opened another financing avenue for the country's high performing projects. The $450 million issuance by the operator of Mersin International Port included incurrence-based covenants, making it akin to a high-yield offering.
Lighthouse had to account for a similar transformation of its underlying collateral BNP Paribas has used a master trust structure to complete the first securitisation backed by commodity trade loans. The $132 million deal known as Lighthouse is the latest example of alternative funding sources being applied to assets traditionally financed by banks.
