Africa Bonds

The Arab Republic of Egypt this week proved that emerging market bond investors will still part with their cash even at this stage in the year if the deal is right, while at the same time proving that ultra-long dated bond funding is open to emerging markets issuers.

The Republic of Angola kicked off a roadshow on Thursday for a two tranche dollar bond trade comprising 10 and 30 year bonds.

The Arab Republic of Egypt pulled in $14.5bn of demand for its $2bn triple tranche bond deal on Wednesday, in a trade that was priced well inside the sovereign's curve.

The Arab Republic of Egypt had clocked up more than $9bn of demand for its triple tranche bond trade by lunch time on Wednesday.

Egypt is in market promoting a new deal: three tranches of benchmark dollar funding. Its 40 year tranche will be Egypt’s longest ever deal.

Emerging market issuers continued to enjoy solid market conditions this week with new mandates joining the pipeline and Abu Dhabi’s Mamoura executing a $3.5bn triple tranche trade.

South Africa is poised to lose its final investment grade rating when Moody's conducts a review of its score a week from Friday. That has the potential to throw South African borrowers' funding plans into chaos following a year of of healthy, tightly priced issuance. Mariam Meskin and Ross Lancaster report.

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

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

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.

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.