BNY Mellon picks up three EMEA Finance Treasury Services Awards

BNY Mellon has won three awards in EMEA Finance magazine’s 2019 Treasury Services Awards, including retaining its title of “Best Transactional Bank for Financial Institutions in EMEA” for an astonishing tenth consecutive year. BNY Mellon was also named “Best Transactional Bank for Financial Institutions in the Middle East” and the provider of the “Best FX Services in EMEA” for its market-leading FX solution, SmartPaySM Global.

The awards were presented to BNY Mellon Treasury Services’s Bana Akkad Azhari, Head of Relationship Management MEA and CIS; Marcus Sehr, Head of Europe; and Ross Jones, Head of FX and Multicurrency Payment Product, at Sibos.

To read the full awards write-up in EMEA Finance, please click here (please note, the article lies behind a paywall)

BNY Mellon and EMEA Finance partner to host Saudi roundtable

This is an extraordinary moment in the history of one of the Middle East’s largest economies. The changes underway in Saudi society are both palpable and visible. And the changes underway within the Kingdom’s banking and financial system are equally remarkable, if less visible. As with other countries, digitisation is causing banks to fundamentally rethink their role, while new players are providing innovative services to both consumers and businesses alike. Here, a roundtable co-hosted by BNY Mellon, the Saudi Investment Bank (SAIB) and EMEA Finance brings together industry leaders to share their views and expertise on how banks in the Kingdom are adapting to the evolving landscape and capitalising on new opportunities.

To read the full write-up, see the Sibos edition or click here (please note, the article lies behind a paywall)

Adani Green Energy’s proposed US$362.5 million green bonds score E1/90 in S&P Global Ratings’ Green Evaluation, covered by specialist press

S&P Global Ratings scored Adani Green Energy Ltd. Restricted Group 2 (AGEL RG2)’s proposed US$362.5 million green bonds E1/90 under its Green Evaluation – the highest score on the Green Evaluation scale of E1-E4, comprising a Mitigation score of 90, a Transparency score of 89, and a Governance score of 93.

The bonds will be used to finance and refinance solar photovoltaic (PV) power plants and related transmission infrastructure in Karnataka and Rajasthan, India.

“AGEL RG2’s intention to use 100% of the proceeds for solar PV power projects is the main driver of the high score,” said Cheng Jia Ong, the primary analyst of the Green Evaluation.

Following Moorgate’s outreach, news of the Green Evaluation was covered by Renewables Now and PV-Magazine.

 

S&P Global Ratings’ Michael Wilkins discusses the future for green project bonds on TXF Proximo’s latest podcast

Green bonds have proliferated since the first green debt instrument was introduced in 2007, with banks and corporate bond issuers leading the pack. However, project bond and emerging market issuers have been more hesitant.

Speaking on TXF Proximo’s podcast, “Transmissions”, Michael Wilkins, Global Head of Analytics and Research, Sustainable Finance, S&P Global Ratings, argues that this may not be the case for much longer.

“Because there is interest among investors to benchmark according to environmental contribution as well as credit quality, there may be opportunity for green project bonds in emerging markets to grow,” said Wilkins.

Meanwhile, he believes that green project bonds may well see a surge in market interest if the high level of environmental contribution that S&P Global Ratings generally sees from the asset class is made explicit in offering circulars.

To listen to the podcast, please click here.

BPL Global’s George Bellord and Sam Evans discuss trade credit insurance with Into Africa

In an exclusive interview with Into Africa, BPL Global Directors George Bellord and Sam Evans explore the impact that the global political and economic climate is having on demand for trade credit insurance to cover African risk, as well as the challenges and opportunities for the wider credit and political risk insurance (CPRI) market.

“Africa is one of the regions with the largest exposure for our clients. The high growth rates of many countries across Africa, such as Ethiopia and Cote D’Ivoire, have meant increased levels of trade, as well as infrastructure projects, ranging from energy to roadway construction,” said Evans.

To read the full interview, please click here (page 49).

S&P Global Ratings Green Evaluation on Adani Green Energy’s US$362.5 million green bonds, covered by the specialist press

In its second ever Green Evaluation carried out in India, S&P Global Ratings has assigned an overall score of E1/90 to Adani Green Energy Ltd. Restricted Group 2’s proposed US$362.5 million green bond issuance. The E1/90 score is the highest on the Green Evaluation scale of E1-E4, and comprises a Transparency score of 89, a Governance score of 90, and a Mitigation score of 90.

“Adani’s intention to use 100% of the proceeds for solar photovoltaic power projects is the main driver of the high score,” said Cheng Jia Ong, the primary analyst of the Green Evaluation.

Following outreach by Moorgate, news of the Green Evaluation was covered by PV-Magazine, Renewables Now and Global Capital (behind paywall).

Latin America’s green bonds are resurging, says S&P Global Ratings in World Bank blog

While the first half of 2019 saw a somewhat lacklustre performance in the global green bond market, the latter stages of this year are bringing change – particularly for Latin America.

Writing for the World Bank’s blog, Bruno Bastit, Associate Director, Sustainable Finance, S&P Global Ratings, notes that following the issuance of two large green transactions totalling US$1.3 billion in the first quarter of this year, the region is seeing increased interest in financing projects and infrastructure via green-labelled debt instruments.

However, for green bonds to really take hold in Latin America, uptake needs to extend beyond the handful of countries, issuers and sectors spearheading issuances today, says Bastit.

The article was published on World Bank’s blog here, as well as its Spanish language blog, Voces, here.

S&P Global Ratings considers the outlook for Latin America’s utilities for The Energy Industry Times

In an article for The Energy Industry Times, S&P Global Ratings’ Julyana Yokota, senior director and sector lead, Infrastructure and Utilities, Latin America, argues that solid, transparent and predictable regulatory structures are keeping the region’s utilities on track.

Though policy uncertainty remains for some countries, many are mandating minimum renewable energy targets, argues Yokota. And, in turn, autonomous and stable regulatory structures are as vital as ever for the region’s utilities to continue their steady operating performance.

Please click here for the full article.

Robust regulation could support Latin America’s energy transition, writes S&P Global Ratings’ Julyana Yokota in World of Renewables

The presence of new administrations across Latin America has mounted concerns over whether wholesale regulatory and policy reform could fundamentally alter the pace of the region’s energy transition.

But Julyana Yokota, senior director and sector lead, Infrastructure and Utilities, Latin America, S&P Global Ratings, recently wrote for World of Renewables, to highlight that the region’s robust regulatory frameworks will, in fact, likely support the region’s transition to renewable energy.

“Frameworks for the energy sector are becoming more robust, with energy utilities operating under increasingly credit-supportive regulatory frameworks,” Yokota argues. “Coupled with growing political support, we may see promising conditions for the energy transition to take hold.”

To read the full article, please click here.

Why Southeast Asia’s global trade moment has arrived: BNY Mellon in Asia Outlook

Southeast Asia is not only thriving as a manufacturing centre, it is likely to  benefit hugely from China-U.S. trade tensions. In an article for Asia Outlook, Arnon Goldstein, Regional Head of Relationship Management APAC, and Joon Kim, Global Head of Trade Finance Product and Portfolio Management, BNY Mellon Treasury Services discuss how its banking sector will need to keep pace – and may need external help to leverage the potential opportunities.

To read the full article, please click here