Africa Bonds
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Santander creates new sales role — Barclays origination banker leaves — Algomi co-founder helps another fintech
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Ecobank launched its debut bond on April 11, but less than a week later, the price has shot up by between four and five points, prompting questions about the bond’s execution.
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Ecobank Transnational, the pan-African bank based in Togo, hit screens this week for a five year dollar benchmark — its first ever bond. -
The new World Bank president used his first public statement to pledge to increase efforts to ensure China was more transparent in its lending to Africa.
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Ecobank Transnational, the pan-African banking group based in Togo, has set the yield for a $400m five year bond at 9.75%. The size indicated is at the lower end of the $400m-$500m range it suggested earlier in the day.
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The Arab Republic of Egypt on Thursday printed a €2bn dual tranche euro deal with a massive negative new issue premium of 22bp on the longer bond — one of the largest ever negative concessions on an EM issue. The deal takes Standard Chartered to the top of Dealogic’s league table of CEEMEA bonds, though it is a title to be only briefly held as the Saudi Aramco jumbo bond is expected next week, which other banks are arranging.
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The Arab Republic of Egypt has released initial price guidance for its dual tranche euro bond at levels that two lead managers said were around 40bp back of its curve.
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JPM securitization banker leaves — Goldman Brexiter quits for politics — Balax enrols in fintech course
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Rothschild & Co has appointed Martin Kingston as executive chairman of its board in South Africa, among other personnel moves in the country.
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Three sub-Saharan African credits hit screens this week after months of capital markets absence from the continent, riding a boost from the Federal Reserve and pulling off impressive transactions with more waiting in the pipeline.
