Africa Bonds
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CEEMEA bankers are dusting off their Bloomberg terminals in preparation for a resurgence of new issue business next week. DCM and syndicate officials' most conservative estimate for the number of new CEEMEA issues that will be printed next week was three and the most bullish was seven.
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The global sukuk market is set to resume growth in 2014 after a mixed 2013 and should exceed $100bn for the third year running, said Standard & Poor’s on Tuesday.
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Oil products company Puma Energy priced its debut high yield bond in line with guidance on Tuesday, relying on broad appeal to a varied investor base to overcome the sell-off in emerging market credits.
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Oil products company Puma Energy has priced its debut high yield bond in line with guidance on Tuesday, relying on broad appeal to a varied investor base to overcome the sell-off in emerging market credits.
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Libya may be gearing up to issue a debut international sukuk, as it seeks alternative funding sources to meet its budget and pay for food imports.
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The International Islamic Liquidity Management Corporation (IILM) this week expanded its short term dollar sukuk programme with an $860m three month issue.
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Sterling Bank plans to raise $120m with a private placement by the end of Q1 2014, according to a funding officer at the bank. The Nigerian lender will follow the deal up with a multi-currency tier two deal by the end of the year.
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Libya will consider issuing a debut international sukuk as it seeks alternative funding sources to meet its budget and pay for food imports.
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Libya will consider issuing a debut international sukuk as it seeks alternative funding sources to meet its budget and pay for food imports.
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The International Islamic Liquidity Management Corporation (IILM) has expanded its short term dollar sukuk programme with an $860m three month issue. -
Morocco’s government has submitted a draft bill which sets out regulations for Islamic banks and sukuk – paving the way for a potential sovereign issue this year.
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Egypt plans to replace its sukuk law with a chapter in the securities law, according to local media reports.
