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The global legal entity identifier system will launch by March 2013. But much must be resolved before regulators worldwide can issue LEIs

Chinonyelum Uwazie The OECD estimates in its Infrastructure to 2030 Report (2007) that the annual infrastructure investment requirements for electricity, road and rail transport, telecommunications and water are likely to average around 3.5% of world GDP through to 2030. The report estimates that a large share of these investments will be taken in the developing world where countries such as China, India and Brazil will be spending billions of dollars on infrastructure to underpin their booming economies and satisfy the growing aspirations of their population. Nigeria is part of the developing world and is said to have one of the fastest growing economies in the African continent with over 140 million people and an average economic growth rate of 3.5% per year in the last few years. With such a thriving economy and an equally growing population comes the need for investments in areas such as electricity, road and rail transport as well as telecommunication. Recent projects at the federal and state level including the light rail mass transit project and the cable car transit project in Lagos State, Nigeria, are a testament to the efforts of the government to meet the growing needs of the population.

Subscription credit facilities will become a prominent feature of the private equity and investment funds landscape, US and Cayman Islands lawyers say.

The government of Mongolia's recent Regulation S/Rule 144A debt offering marked the first time the country has tapped the sovereign bond market.

Russia’s government has prepared ambitious roadmaps to increase inbound FDI. But key reforms are still needed

There was renewed buzz around contingent convertible capital instruments (CoCos) last year, off the back of impressive issuances by UBS and Barclays. The permanent write-down – rather than conversion to equity – adopted in both deals led to speculation of a new breed of CoCo. But these deals represent just one of many twists to the classic CoCo concept that will appear this year.

Infrastructure bonds will boost India's underdeveloped debt capital markets in 2013, and corporate offerings are set to follow. The success of India's equity capital markets has masked the lack of interest and liquidity in the bond market. But with equities recently slowing, attention will turn to debt.

Interest and innovation in European exchange traded products (ETPs) will grow this year, creating opportunities for asset managers.

2012 was a tough year for syndicated lending, with annual volumes dropping by a third across Europe, the Middle East and Africa. And despite almost half of respondents to the Loan Market Association (LMA) members' survey expecting similar levels for the coming 12 months, other signs suggest a more upbeat outlook.

That Basel III's higher capital requirements will significantly curtail investment bank involvement in large, long-term EU project financings is undisputed. But market participants expect it will be some time before any other lending entity can viably take their place.