The GlobalCapital Podcast
A weekly podcast from GlobalCapital, the capital markets news service based in London and New York, discussing its most interesting stories from around the world.
Every Friday, listen to lively discussion about the very latest themes, the most innovative and important bond and equity issues and syndicated loans and much more from the capital markets.
This podcast is for anyone working in - or who wants to work in - the capital markets from investment bankers, to funding and treasury officials, investors, lawyers, analysts, NGOs and lobbyists, regulators and policy makers, and analysts.
GlobalCapital has been the "voice of the markets" for over 35 years, covering bond, loan, equity and securitisation markets around the world.
We cover everything from public sector bond issuers, financial institutions, emerging markets and investment grade corporate bonds and loans to securitisation (including CLOs and ABS), regulation and market news as well as industry gossip.
GlobalCapital is written for capital markets professionals but the podcast is of value to anyone with an interest in the industry, whether you have been working in it for as long as we have, or are looking to make your first career move into it.
This podcast is a commute-sized slice of everything that's most interesting from the world's capital markets with the aim of helping you sound smarter in your morning meeting, or making you stand out from the crowd of other hopefuls when kick-starting your career.
And don't forget, you can #AskGC anything you like and we will select the best questions to answer on the show.
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The GlobalCapital Podcast
Saudi issues ‘bond beyond oil’ as other borrowers try every trick in the book
- Following the PIF’s debut bond, is Saudi Arabia a credible green investment?
- The multitude of unusual tactics bond issuers are using to get deals done in difficult markets
The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, made a huge splash in bond markets this week with its debut deal. But the $3bn sale across three green tranches, including a 100 year bond – an unprecedented feat among debut issuers – was not without controversy.
While the deal execution itself could not be hailed as anything other than a success, investors had wildly differing opinions about whether a green bond from Saudi Arabia is a credible ESG investment or not. The country is in the middle of a bold plan to transition away from oil income, which had one of the deal’s lead managers calling the 100 year piece a “bond beyond oil”, but is it doing everything it can? We examine the deal and the arguments for and against lending money to the PIF if your priorities are the environment, social wellbeing and sound governance. If anything, the deal shows there are no simple choices in ESG debt markets.
Nothing is simple in the wider bond market either, it seems. Getting deals done is tricky with markets so volatile and uncertain. There is little to suggest they will become more placid, or that funding costs will fall, any time soon either. We look at how borrowers are using all of their wiles to get funding through the door while they can.