Africa Bonds
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The World Bank is hoping to step up its activity as an intermediary in commodity hedging transactions, providing credit enhancements for its clients in their arrangements with insurers to protect them from external shocks
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Mann+Hummel struggles in Schuldschein market amid splurge in auto trades — Bureau Veritas returns to USPP market — Seplat turns to loans for Eland buy — Endava swaps to syndicated sterling borrowing — Bravida refis revolver, eyes more buys
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Banque Ouest Africaine de Développement (BOAD) was able to tighten pricing beyond guidance on a 12 year bond, one of its longest dated issues, this week. -
Banque Ouest Africaine de Développement (BOAD) is set to return to the capital markets for the first time in over two years, sounding out investors for a long end dollar benchmark. The trade will follow a euro dual trancher from the Ivory Coast sovereign.
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Egypt has reached a pivotal point in its new phase of economic development. For the fastest growing economy in the Middle East, and the biggest investment magnet in Africa, the task is to build on deep reforms to create a more business friendly environment, attract fresh investment and create meaningful jobs for the poorest Egyptians.
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South Africa made its largest ever trip to capital markets on Monday, raising $5bn across two tranches. However, the size may have been too ambitious as the bonds suffered early in the secondary market. Although they have since recovered, some investors may be deterred from jumping into the rest of the week’s slew of deals.
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South Africa is back in capital markets for the first time in over a year and the first time since its ratings were placed on negative outlook by Fitch.
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The African Export-Import Bank sold its $750m 10 year bond on Tuesday from a book of around $3.35bn, with recent low supply from African issuers having helped drive demand for the deal.
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IHS, the Nigerian telecom towers group, hit screens on Wednesday for a dual tranche bond. It received strong demand and the leads were able to tighten the spread and add an extra $300m to the longer tranche.
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IHS, a telecoms provider based in Nigeria, hit screens on Tuesday for a dual tranche bond. The proceeds will go to finance a tender offer of the issuer’s outstanding paper.
