Africa Bonds
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OCP, the Moroccan company that claims to be the world's largest phosphate exporter, will start a roadshow on Tuesday for a benchmark dollar bond. It would be the first corporate Eurobond from Morocco. -
Nigeria's Zenith Bank started a roadshow on Thursday with Citi and Goldman Sachs for a 144A/Reg S senior unsecured dollar bond. It is likely to have a size of over $350m and a maturity of five years.
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Tullow Oil, the UK company that explores for oil in Africa, is planning to price a $500m high yield bond on Thursday.
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Nigeria's Zenith Bank will start a roadshow on Thursday with Citi and Goldman Sachs for a 144A/Reg S senior unsecured dollar bond. It is likely to have a size of over $350m and a maturity of around five years.
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After finishing last year at the top of the CEEMEA bond bookrunner league tables, Deutsche Bank has slipped to eighth position in Dealogic’s ranking for the first quarter of this year.
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Tunisia’s debut sovereign sukuk placement is being delayed until the end of this year or the beginning of 2015, according to an official at the ministry of finance. Tunisia originally planned to issue in the first half of 2014.
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The European corporate bond market had already seen plenty of fireworks by Wednesday but there was no let-up on Thursday.
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Zambia has its work cut out on a seven day roadshow that began on Thursday. The sovereign is planning a second dollar Eurobond, but will have to convince investors it has a solution to its deteriorating finances in order to avoid offering a hefty yield, said analysts.
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Bank issuance from Poland and Abu Dhabi has kept CEEMEA bond supply going this week, while Mexico’s Cemex tapped the euro and dollar markets.
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Zambia has its work cut out on a seven day roadshow that starts on Thursday. The sovereign is planning a second dollar Eurobond, but will have to convince investors it has a solution to its deteriorating finances in order to avoid offering a hefty yield, said analysts.
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Standard Chartered has launched Islamic banking services in Kenya, under its Saadiq brand.
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Three years after civil war again broke out in the country, Ivory Coast has released a request for proposals for a new dollar bond.
