Africa Bonds
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The country is unlikely to issue new dollar bonds in the near future despite a big rally in yields -
New government is seeking an IMF deal, which will likely require a debt rework
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Paying off external arrears will help get an IMF deal over the line
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The euro's share of EM bond funding is at its highest in a decade
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Japanese investors like the extra yield international borrowers can offer in the yen market
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Few sub-Saharan African issuers have issued Samurai and fewer without a guarantee
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Break-up with Fitch over downgrade has not put off investors
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Book attrition rates rise and coverage ratios decline
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New agreement not a done deal, but this is the furthest Ethiopia has got to in restructuring its bonds
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The trade, like previous yen issuance, carries a guarantee
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Five year bond set to be priced much tighter than the development bank's last senior issue
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Investors were eager to tender their bonds despite initial resistance
