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Dr Saliba Sassine

Supercharging your bond or sukuk issuance

Equity and debt markets are becoming more challenging as we enter Q4 in 2022. Central banks around the world are targeting inflation by successively increasing interest rates. The dynamics are for more expensive equity and debt. Issuers that can delay capital raisings will do so, however for corporations that must raise funds, the landscape may be more competitive, and they will need to have a compelling case.

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Missed Opportunities in the Australian Corporate Bond Middle Market

Generally, primary issuance in the bond market is significantly larger than the equities market, but in Australia it is the reverse. This is especially so for the middle market in Australia which underutilizes corporate and project bonds in funding their capital stack. The graphs below show the comparative global primary issuance of bonds and equity. The bond issuance of US$27.3 trillion in 2020 dwarfs the US$827 billion in equity raised in the same year.

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BlueMount Capital in the news: “Altech Identifying Partners In US$100 MM Project Equity Investment For High Purity Alumina Project”

Australian innovator Altech Chemicals Ltd. updated the market on the progress of its high purity alumina project this week, including several financing projects that are currently underway with investors in Europe and the United States.

Altech’s Managing Director Iggy Tan and other company officials met with their counterparts at Germany’s KfW IPEX-Bank this summer, and the bank confirmed that it is still on board with Altech’s projects after being updated on the progress of its US$144 million green bond offer and its US$100 million project level equity funding initiative. The bank reiterated its support for the US$190 million senior loan facility and advised Altech that the German export credit agency has renewed its US$170 million export credit cover, which is part of the bank’s senior loan facility.

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BlueMount Capital in the news: “German bank confirms support of Altech Chemicals’ high purity alumina project in Malaysia”

Emerging battery materials producer Altech Chemicals (ASX: ATC) has confirmed that Germany’s government-owned KfW IPEX-Bank continues to fully support its high purity alumina (HPA) project in Malaysia.

The confirmation comes after Altech managing director Iggy Tan visited the bank to discuss the status of the company’s secondary project finance initiatives, including a US$144 million green bond offer and a US$100 million project level equity funding initiative.

Following the meeting, KfW IPEX-Bank confirmed its support for the project, and its commitment to a senior loan facility of US$190 million.

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BlueMount Capital in the news: “Altech Chemicals (ASX:ATC) advances financing activities for Malaysia HPA project”

Altech Chemicals (ATC) has advanced project financing activities for its Malaysia high-purity alumina (HPA) project.

Following a trip to Europe by company management, Altech has confirmed that Germany-based KfW IPEX-Bank remains committed to the project and a senior loan facility of US$190 million (A$273 million).

It also said Euler Hermes, the German government export credit agency, has renewed a US$170 million export credit cover for the KfW IPEX Bank senior loan facility.

In addition, ATC progressed discussions to finalise a US$144 million green bond offering with London-based Bedford Row Capital and Perth-based Bluemount Capital.

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Sharia compliant investments in private equity – An IFN Special Report

Special Reports (Https://Www.Islamicfinancenews.Com/News-Categories/Special-Report)
(https://www.islamicfinancenews.com/contributor/zabidi-abdullah)
Dr Saliba Sassine (Https://Www.Islamicfinancenews.Com/Ifn_authors/Dr-Saliba-Sassine)
19/07/2022

Private equity (PE) often reigns supreme in the high-return investment market. Dr Vladimir Malenko wrote :“In the time of volatile interest rates, doubtful and inconsistent performance of hedge funds, and increasing popularity of index tracking funds (rather than actively managed ones), the astute investors flock to private capital placement opportunities.” DR SALIBA SASSINE explores.(https://www.islamicfinancenews.com/a-newinvestmentscheme-that-can-destroy-shariah-compliant-private-equity.html)

The top 10 GCC (https://www.islamicfinancenews.com/glossary/gcc)  institutional investors have more than US$3.7 trillion of combined assets under management, but only a small percentage of these funds are Shariah (https://www.islamicfinancenews.com/glossary/shariah-2) compliant. At first glance, this PE investment option for Islamic investors looks rather limited. But Islamic finance professionals are both dynamic and inventive in their search for structured solutions.

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