When Morgan Stanley put together its structured deal with state-owned Egyptian General Petroleum Corporation (EGPC), it was treading very new ground. The deal enabled EGPC to issue notes above the Egyptian sovereign rating and combined a bond issuing with hedging.
The deal drew on both Morgan Stanley's financial engineering skills, especially for leveraged structured finance expertise, and its commodities capabilities, in particular physical operations and hedge execution.
After creating a Spe
The week on Risk.net, October 6-12, 2017Receive this by email