Managing risks in the JV resurgence Companies increasingly favour JVs when pursuing M&A. But while such partnerships have proved an effective way to reignite activity in a depressed market, many don’t fully understand the risks involved
Cyprus Holdco regime survives bailout – for now Market opinion is sharply divided on whether Cyprus’s favourable holding company regime is ringfenced from the effects of its banking crisis. It’s a critical question for Russia’s multi-billion dollar private M&A sector
Why Mongolia's investment law amendments disappoint Contrary to what's been widely reported by other media changes to the frontier's controversial FDI law may not make a difference to foreign investors
New short-term sukuk market to boost liquidity The establishment of IILM's short-term sukuk programme gives shariah-compliant financial institutions an new option for liquidity management
Euromoney LMG Europe Women in Business Law Awards 2013 – shortlist announced The shortlist for the third annual Euromoney Legal Media Group Europe Women in Business Law Awards has been published
Saudi sukuk pushes Islamic finance tenors SEC’s landmark sukuk confirms the growing acceptability of the product in the international market. But it seems likely that only quasi-sovereigns will succeed in securing longer tenors - for now at least
How to navigate Myanmar’s O&G auction risks Myanmar has opened a highly anticipated auction of 33 oil and gas blocks, including deepwater blocks for the first time. Although it is the country’s most developed sector, foreign bidders are tipped to encounter significant political risk
New social, environmental principles for Brazilian PF Brazil has a significant number of infrastructure projects which have potential social or environmental liabilities. The adoption of standard principles of good practice will soon become not an option but an obligation
Speakers confirmed for IFLR Africa Forum 2013 in London Over 20 speakers have been confirmed for the second annual IFLR Africa Forum at the Waldorf Hotel in London later this month.
Breakthrough sukuk opens new funding vistas in GCC Al Bayan Group has become the first Saudi company to tap the Malaysian capital markets, establishing a RM 1 billion Malaysian ringgit sukuk programme.
Korea's covered bond law may not have immediate impact The possibility of legislative covered bonds in Asia has excited international investors. But the passage of Korea's proposed Covered Bonds Act might not have an immediate impact
LT Group listing marks Philippine cornerstone first LT Group’s PHP 37.73 billion ($920 million) PSE listing represents the largest offering ever in the Philippines. It is also the first to involve cornerstones
New standardised swap ups competition for futurisation Last week’s launch of standardised terms for the world’s biggest swaps market has been welcomed as an alternative for those resisting the product’s so-called futurisation
Evonik’s quick-to-market IPO model assessed The debut listing of German chemicals producer Evonik on the Frankfurt and Luxembourg stock exchanges used an unconventional quick-to-market structure. It sets a so-called almost-safe model for other large European corporates to follow
PE needs help before SEC enforcement blitz US private equity has entered a new phase of tougher enforcement. But the industry needs further assistance from the SEC to comply with its new obligations
CGIF-wrapped bond to spark Asean local currency market Noble Group's baht-denominated bond issue is the first fully guaranteed by a wrap from CGIF, a trust fund of ADB
The IPO to kick-start Thai infrastructure investment BTS Mass Transit Growth Infrastructure Fund’s initial public offering was the first of its kind for the Stock Exchange of Thailand
StanChart: how to compete on African syndications Ahead of IFLR’s second annual Africa Forum, panelist Brian Marcus, director of project and export finance at Standard Chartered, has outlined the legal idiosyncrasies that characterise Africa's maturing syndications market
EXCLUSIVE: Mexico’s imminent financial overhaul dissected Under the guise of a law to boost retail lending, Mexico is about to overhaul its financial system. Amendments could pass as early as next month
CCP resolution: the latest design considerations A recent Bank of England report stated that clearinghouses should have a well-mapped plan for how they will assign losses to members, if an event of a default burns through the company’s emergency funds
HK Competition Commission priorities revealed Following the April 26 appointments to Hong Kong’s first Competition Commission, IFLR spoke with one of the government’s appointees about the new regulator’s agenda and enforcement priorities
The dos and don’ts for African sovereign debt deals Demand for African sovereign debt opens a new funding source for some African governments. Citi's Tim Odell, panelist at next week's IFLR Africa Forum, has outlined how best to get deals done in this expanding market
Lessons from SEC’s FCPA non-prosecution first The US Securities and Exchange Commission has announced its first non-prosecution agreement regarding alleged violations of the Foreign Corrupt Practices Act. But exactly when the regulator will use an NPA to resolve a case remains unclear
Mexican bankruptcies streamlined by regulatory overhaul Mexico’s highly-anticipated financial overhaul bills, introduced into Congress on Wednesday, will streamline and expedite the country’s sluggish bankruptcy proceedings for corporates
Malaysia election clouds FDI prospects Although Malaysia's ruling coalition has retained control of Parliament, following the country's hotly contested elections on May 5, the situation for foreign investment is unclear
Turkey’s first non-ijara sukuk dissected Turkiye Finans has become the first company to issue a non-ijara sukuk out of Turkey. It paves the way for more hybrid structures, and a wider variety of Turkish sukuk issuers
Asifma: Asia's bank resolution regimes must look globally In establishing Asia's bank resolution regimes, domestic regulators requiring banks to hold a certain amount of capital in domestic subsidiaries miss the point
What will kickstart Myanmar project finance Project financings in Myanmar are materialising, and counsel expect interesting deal structures. But the government must establish contractual and regulatory frameworks before the market can take off
Lenders in Africa must look beyond execution Lenders and bond investors must exercise greater foresight on African deals, by paying closer attention to security risks and intercreditors during negotiations and drafting
How to prepare for projects in Africa Africa’s seemingly unstoppable rise as a global investment hub has led to an increase in the number of complex projects on the resource-rich continent. These are the factors now shaping investor decisions
IFLR Middle East and North Africa awards 2013: research begins The research process for the 2013 IFLR Middle East and North Africa awards has begun. Full details are here
How to issue African debt Africa’s debt capital markets offer both high yields and safety from western market volatility, according to panelists at this week’s IFLR Africa Forum. Here’s how foreign investors can best tap opportunities in this expanding market
US banks’ regulatory capital question continues Morrison & Foerster's Anna Pinedo explains why there is still a lack of consensus in the US regarding how to approach regulatory capital and prudential regulation
Asset managers call for RMB market standard Asset managers are growing concerned about the proportion of unrated bonds in the offshore RMB bond market as well as new credit enhancement structures. Here's why
Chile’s first cross-border peso bond explained The first cross-border, local-currency bond by a Chilean corporate shows how LatAm issuers can benefit from the long-tenors available in the international markets, without currency risk
How to grow a business when banks won’t lend Growing companies have been hit particularly hard by the squeeze on bank finance. But, despite the retreat of traditional sources of credit, financing is available to those that are willing to innovate
BoE reveals the risk posed by an extended period of ‘zero interest rates’ The Bank of England's executive director for financial stability, Andrew Haldane, met with IFLR this month to discuss the key risks to financial stability
Apra’s approach to Basel III liquidity rules explained Following the Basel Committee's guidance for meeting the LCR, Australia's Prudential Regulatory Authority has adopted a more conservative stance
Bank of England: the future for bank solvency metrics In an IFLR video exclusive, the Bank of England’s Andy Haldane on why leverage ratios must form part of quest to simplify bank solvency metrics
BoE’s Andrew Haldane: how to rehabilitate securitisation In an IFLR video exclusive, the Bank of England’s Andy Haldane reveals why nurturing the good parts of shadow banking will the next regulatory frontier
Bank of England: the risk of ‘zero interest rates’ In an IFLR video exclusive, the Bank of England’s Andy Haldane outlines the unintended consequences of zero interest rates
How to navigate fluid sanction regimes Sanctions are an increasingly important aspect of financial institutions' know-your-client (KYC) measures. But keeping up with ever-changing regulations is proving a challenge
Poll: emerging market risk disclosures out of control? When it comes to emerging market risk disclosures, how much is too much?
Leveraged finance quarterly: transatlantic decision-making Differences between US and European finance documentation come to the fore in transatlantic deals. Here are the key distinctions on voting matters
Head to head: does Party influence compromise Chinese law firm advice? Beijing-based lawyers debate the impact of government policy on independent and reliable legal advice
Inside China: taming shadow banking China has struggled to curb the growth of off-balance-sheet businesses. Here’s how wealth management plans have slipped through the regulatory cracks
KRX Q&A: helping emerging market exchanges Korea Exchange is at the forefront of developed economy exchanges working to foster links with those in emerging markets. Its market strategy chief explains how
Follow African banks’ lead The rise of local banks has changed the rules for Africa’s lending market. Foreign banks have been forced out of syndications, and must now learn from their local competition
Best of both worlds The investment banking head of Africa’s most active lender explains what’s changing the continent’s syndicated loan dynamics
A tale of two sectors Debt capital markets and project finance underpin Africa’s rise as a global investment hub. Here’s how to navigate the sectors’ unique challenges
Conflict of law rules for voluntary assignments under the Rome I Regulation The EU needs a uniform conflict rule for the enforceability of assignments against third parties. Here are the options
What Mexico’s financial overhaul will achieve Mexico’s regulatory overhaul is expected to touch every aspect of its financial services system. The reforms aim to benefit banks, and could be implemented in weeks
China needs an integrated securitisation market Securitisation is the perfect tool to support Chinese banks’ continuing growth. But a more integrated banking and capital markets system is needed first
OTC reforms: even supranationals aren’t immune Even the world’s biggest international organisations aren’t immune to US and European OTC regulations
The legal sector's new merger reality Corporate lawyers looking for the year’s hottest M&A sector should take a close look at themselves. Law firms are facing a new merger reality
Cayman target director duties in the spotlight Directors of Cayman Island targets have an array of duties when facing a bid. Here are the pitfalls
German law trusts: a route to value realisation Contrary to popular legal opinion, trust structures are recognised under German law. And they are a powerful tool for lenders to utilise
Proceed with caution Two recent European judgments cast doubt on whether one-way jurisdiction clauses are a risk worth taking. Here are the practical considerations
Holistic medicine needed to revive securitisation Five years after the financial crisis, the US securitisation market – especially for residential mortgages – has yet to recover. An incorrect diagnosis is partly to blame
A new dawn for Dutch buy-outs Six months on, it’s time to see how the market is dealing with the repeal of a prohibition on financial assistance for Dutch BVs
