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This instalment of Leveraged Finance Quarterly looks at the similarities and distinctions between typical features of first out revolving credit facilities in the US, and super senior revolving credit facilities in Europe

Mongolia has been burnt by some populist and poorly planned policies. Here’s how it’s rebuilding an inclusive investment environment

Foreign investment between the two superpowers has been mired in politics of late. Here are the key considerations when closing such deals

Securitisation would greatly assist China in its efforts to deleverage its economy. Here’s what’s holding the asset class back

Recent regulations finalised by the US banking authorities could signal a rocky road ahead for foreign banks

For special committees and advisors undertaking going-private transactions, much can be learnt from recent Delaware court rulings. Here’s the latest best practice

New rules that took effect on August 13 regulate marketing activities relating to Canadian public offerings

Rodrigo de Campos Vieira In a previous article published in this magazine, the author commented on Brazil's unique opportunity to develop the mechanisms for early stage, smaller and also more established medium-sized companies to access the funds they need to grow their business through the equity capital markets. The previous article discussed a project conducted by investment banks, law firms, civil entities, associations and auditors to be presented to the government with alternatives to unlock the growth of Bovespa Mais, the only access stock market in Brazil.

Rodrigo Taboada By decision of the Financial Action Task Force (FATF), an intergovernmental institution, and the Financial Action Task Force on Money Laundering in South America (GAFISUD), in June 2001 Nicaragua became part of the so-called Grey List on those institutions' prevention system for combating money laundering and terrorist financing. This was due to 'strategic deficiencies'. One of the five reasons Nicaragua presented strategic deficiencies was the absence of a financial intelligence unit. The country has now taken steps to stay off the Grey List, through the passage of a law that creates the Financial Intelligence Unit. This was published in the Official Journal (La Gaceta) on June 22 2012 and became effective in September 2012.

Chuks Okoye Nigeria's capital market operators and regulators have recently made significant efforts to deepen the capital market, including the introduction of market markers in the Nigerian Stock Exchange in 2012. The impact of that intervention has already been felt, with the NSE recording a 37% growth in market capitalisation at the close of 2012, making it one of the best choices for investment globally. The recent commencement of trading by two new platforms, the National Association Securities Dealers (NASD) OTC platform and the FMDQ OTC platform promoted by the Financial Markets Dealers Association are progressive attempts at expanding the pie. The NASD OTC provides a regulated platform for the trade in securities of unlisted public companies in Nigeria thus creating an avenue for much needed liquidity and transparency for such securities. The FMDQ OTC on the other hand sets out to promote over the counter trading in financial market instruments such as treasury bills, bonds, repos and foreign exchange. These platforms seek to increase the available channels and instruments for capital market transactions. They also are aimed at catalysing the development and usage of those instruments traded as investors have the incentive of a liquid market and a transparent process.