- Date written
- April, 2017
- Contact for guarantco
- Marjolein van Kampen
- Communications Director
- +44 (0)738 8857097
- Contact for PIDG
- Cecille Sorhus
- Head of Communications
- +44 (0)7917 302724
London, March 31 2017. GuarantCo has signed a Memorandum of Understanding (MoU) today at London Stock Exchange, the signing was witnessed by the UK Secretary of State for International Development Priti Patel.
GuarantCo will partner with London Stock Exchange to help global investors gain access to local currency debt opportunities in frontier and emerging markets.
The demand for capital from the private sector is growing in frontier and emerging markets driven by high rates of economic development. Both GuarantCo and London Stock Exchange are committed to supporting the growth of domestic capital markets through cooperation on capacity-building and by enabling dual-listings of local currency bonds on the London Stock Exchange’s markets, as a means of introducing offshore investors, and thereby greater liquidity, into frontier and emerging markets.
GuarantCo Chairman Andy Bainbridge said:
“I am delighted that GuarantCo’s expertise in providing credit enhancement to emerging and frontier market issuers raising local currency debt and London Stock Exchange’s expertise in providing issuers access to debt markets, trading platforms and global investors is being combined through this partnership to help bring together debt issuers from frontier and emerging markets and investors that are seeking to access debt opportunities in those markets.”
The relationship will help unlock new sources of capital to support infrastructure finance in emerging and frontier markets in poorest areas of Sub-Saharan Africa and South and South-East Asia.
Nikhil Rathi, CEO London Stock Exchange plc, said:
“This collaboration with GuarantCo is part of London Stock Exchange’s commitment to fostering the development of emerging and frontier capital markets. Efficient capital markets are key to raising finance for companies from these economies and it’s our hope that this partnership will encourage and facilitate further development local currency debt markets, building on our experience as the global leader for international RMB and Indian rupee bond markets.”
The MoU signing took place along-side the launch of London Stock Exchange Group’s inaugural ‘Companies to Inspire Africa’ report. The report features a range of African businesses in the private sector, spanning 42 countries and 7 sectors.
To read London Stock Exchange Group’s press release, please visit https://www.lseg.com/resources/media-centre/press-releases
For more information about the report, please visit lseg.com/inspireafrica