EXCLUSIVE: 30 years of global finance from those who made it happen To mark its 30th anniversary, IFLR's journalists spoke exclusively with the 30 witnesses behind the 30 key global financial events from the past three decades
RBI limiting success of Indian infrastructure debt funds India's new infrastructure debt funds could facilitate investment in national infrastructure. But the Reserve Bank of India's approach to debt must change before the product can succeed
Poll: will Barclays’ write-down CoCo become a market template? The issuance last month of Barclays’ $3 billion contingent convertible bond attracted $17 billion of orders globally. Is this a watershed moment for banks looking to boost their tier 2 capital ratios? Vote in IFLR's poll now
Revealed: how to close an energy deal in South Africa The approval of South Africa’s first large-scale renewable projects establishes a roadmap for the completion of energy deals in the country. Here deal counsel outline the precedents set
Mexican natural gas pipeline sets precedent for local lawyers The construction of a new Mexican natural gas pipeline has established a new role for project finance counsel in the region.
BlackRock reveals why Europe needs project debt intermediaries Following the launch of its London-based debt infrastructure unit, BlackRock's co-head of European infrastructure debt enters the debate on whether EU institutional investors will follow the US in-house portfolio manager model
The nature of inside information On June 28 2012 the Court of Justice of the European Union, requested by the German Federal Court of Justice, ruled on the definition of inside information
Rating uplifts now possible for Russia covered bonds The first Russian covered bond issuance to receive a rating higher than its issuer could prompt more use of the capital raising tool by the country’s fragmented banking sector
How Bilkreditt PCS first could bring back European securitisation The first asset-backed security trade to attract the PCS label has closed. Here’s how it could reinvigorate European securitisation
How to structure Latam hotel Reits The first lodging Fibra was offered by GDI Group on November 29. Here's why it's a game changer for the Mexican Reit market
Fonterra Shareholders' Unit IPO explained: a new model for co-operatives The debut of Fonterra Shareholders’ Fund IPO on NZSX and ASX was linked that of the Fonterra Shareholders' Market. It could foreshadow copycat transactions
Europe’s banking union: the market responds Europe has agreed to hand the ECB powers to directly supervise the region’s biggest banks. Here EU lawyers outline the key questions remaining
HK SFC's IPO sponsor regulation conclusions: clarifications needed The SFC’s long-awaited conclusions on its consultation paper on sponsor regulations were released this week. But counsel agreed that questions remain
Why small firms suffer under SFC sponsor rules New sponsor rules released by the Hong Kong Securities and Futures Commission are expected to have a disproportionate impact on smaller sponsor firms and smaller companies looking to list. Here's why
Paul Gillis: SFC should not regulate auditors The Hong Kong SFC's sponsor regulations lack teeth without an independent audit regulator, according to PCAOB standing advisory group member and Peking University professor Paul Gillis
TMA’s Hibor reforms explained The Hong Kong Treasury Markets Association’s Hibor review has clear implications for future contracts as well as future Hibor tenors. Here's why
Mongolia sovereign bond first explained The government of Mongolia’s recent Regulation S/Rule 144A debt offering marked the first time the country has tapped the sovereign bond market
Lord Goldsmith: UK needs more flexible DPA model The former UK attorney general has called for a more flexible form of deferred prosecution agreement than that proposed by the government
Cnooc, Petronas legacy for SOEs in Canada The Canadian government approved controlling acquisitions of strategically important oil sands by foreign SOEs on December 7. But its revised guidelines under the Investment Canada Act suggests greater scrutiny of SOE investments
Former SEC counsel: whistleblower programme shortcomings The US Securities and Exchange Commission’s (SEC) Annual Report on the Dodd-Frank Whistleblower Program: Fiscal Year 2012 reveals a programme that is still grappling with many difficulties, lawyers have said
Baidu’s SEC-registered offering sets Wksi precedent Baidu’s SEC-registered offering marked a number of firsts. Here’s how it could spark copycat deals
PICC landmark IPO explained PICC’s HK IPO involved 17 underwriters and 18 cornerstones. Here’s how counsel managed the deal
Has US Fed overstepped on foreign Sifi rules? A US Federal Reserve proposal could mean risk-managment, liquidity and capital requirements for foreign bank's US operations. But the industry still has avenues to push back
Exclusive: Asifma CEO’s priorities for Asian DCM Asia’s debt capital markets have lived in the shadow of its buoyant listing market. But Asifma wants to turn that around. Its CEO, Mark Austen, spoke with IFLR about his plans for the future
The state loan that signals a new direction for Brazil Bank of America's $726 million loan to the Brazilian state of Santa Catarina demonstrates a radical shift toward major international lenders
IFLR Asia Awards 2013 – who’s coming? The speakers and attendees for this year's Asia awards ceremony have been revealed
CIMC first signals the end of the B-share market CIMC's relocation of its B-shares to H-shares was a first that may mean the end of the B-share market
Thai amortizing bond reveals post-Basel III plans To encourage debt capital markets innovation in Thailand, its Ministry of Finance issued a THB30 billion 25-year amortizing bond in December. Here’s why it matters
Americas awards 2013 - who's coming? The speakers and attendees for this year's Americas awards ceremony have been revealed
Dubai FSA: Regulators pay must equal private sector Regulators have called for new hires to be paid on par with the private sector.
US O&G production: a regulatory battleground With the US forecasted to overtake rivals Russia and Saudi Arabia as the world’s leading oil producer by 2017, lawyers expect furious battles on sector’s regulation in the coming year
APAC regulators to protect emerging markets from extraterritoriality Regulators in Asia-Pacific have called for closer jurisdictional cooperation to protect emerging markets from onerous extraterritorial regulations
KKR-Masan signals PE appetite for Vietnam KKR’s $200 million investment into Masan Consumer highlights private equity’s renewed interest in the jurisdiction. Here’s what you need to know
Ichthys: world's biggest project financing explained At $20 billion, the Ichthys LNG project is the biggest financing arranged in the international markets. The deal also signals a fundamental shift in project finance, with deal counsel expecting more complex deals ahead
Subscription credit facilities to surge this year Subscription credit facilities will be one of the most prominent features of the private equity and investment funds landscape in 2013, according to US and Cayman Islands lawyers
Italy’s new rules for pre-insolvency creditor arrangements Some innovative reforms have created new possibilities – and flexibility – for Italian companies in distress
Avoiding conflicts of riba As Shariah finance becomes more prevalent in non-traditional markets, the prohibition on interest – or riba – deserves renewed attention
Fiscal cliff deal to boost wind projects The US government’s decision to renew the wind production tax credit (PTC) programme as part of last month’s fiscal cliff deal will create a burst of new wind projects in 2013
How to obtain and use US discovery in European private antitrust actions The US has a powerful set of discovery tools, under 28 USC Section 1782. Here is how they can be used by companies in the EU
PRC Supreme Court clears path for shareholders' VAM A welcome court ruling confirms that foreigners can rely on shareholders’ agreements to protect their investments in China
Barclays’ bold CoCo The British bank’s contingent capital offering proved a hit with investors. But its competitors are a little more wary
BTA Bank restructuring The bank reorganisation navigated local law issues surrounding subordination and cram-downs
Can China’s securities market profit from a misfortune? Will less stringent regulation boost innovation in China’s securities market?
Asifma’s new year’s resolutions Asia’s debt capital markets have long lived in the shadow of the region’s buoyant listing markets. Not for much longer
Assessing the effectiveness of HK’s Securities & Futures Appeals Tribunal Ten years after its creation, has Hong Kong’s Securities & Futures Appeals Tribunal proved an effective review panel?
BITs: easing the pain of Fatca compliance Bilateral intergovernmental agreements could reduce the compliance burden Fatca imposes on foreign financial institutions. Here’s how
Structured products: the challenges of regulating complexity Supervisors have taken an increasing interest in structured products recently. But regulating complexity isn’t easy
How to hedge inflation risk Global monetary policy has set the stage for inflation. How effective are hedging strategies, and which tools will best protect portfolio assets?
Russia’s roadmap to FDI reform Russia’s government has prepared ambitious roadmaps to increase inbound FDI. But key reforms are still needed
What US lenders can expect under English law The lack of a coherent English law doctrine of lenders’ liability means US investors need to take care
Stronger Volcker Rule set for first quarter After flooding regulators with comment letters, the market was hoping for a more flexible Volcker Rule. All indications suggest that will not be the case
Schemes of arrangement under threat Proposed changes to the European insolvency regulation look set to threaten the future of English law schemes of arrangement - and the City of London - this year
Return of the Mac The evolution of key terms will be a dominant concern in European M&A this year. In particular, macroeconomic stability means that conditionality in Macs is likely to gain even more prominence
LEIs will hit hurdles The global legal entity identifier system will launch by March 2013. But much must be resolved before regulators worldwide can issue LEIs
Clearing houses to commingle This year, clearing houses will look to comingle options contracts in an attempt to use margin offsets to lower Dodd-Frank compliance costs – for themselves and swaps traders
UK banking reform’s next chapter 2013 could be the year that consensus on the best approach to reform the UK's banking sector is finally achieved. Here's why
