Africa Bonds
-
Liquid Telecom is planning a return to the dollar market four months after making its debut in the currency, bankers on the new deal said on Monday. -
Jordan’s sovereign rating was cut one notch to B+ by Standard & Poor’s and Angola was cut a level to B2 by Moody’s after market close on Friday, as overseas debt levels and weak growth took a toll on both countries.
-
South Africa’s dollar bonds have managed to scrape through the rout on some of the country’s risk assets, after local media said the deputy president could be removed from his position and tried for treason.
-
The Republic of Egypt is planning to issue a euro denominated bond, its finance minister Amr El-Garhy told GlobalCapital at the IMF Annual Meetings in Washington DC. However, investors are not convinced the sovereign will be able to get the deal done.
-
Fitch took the knife to Gabon’s credit rating after market close on Friday, cutting the creditworthiness of the West African sovereign a notch to B at a time of increasing funding requirements for the country.
-
-
Nigeria’s Fidelity Bank printed a $400m five year bond this week at the highest yield seen in emerging markets this year, and the paper was snapped up immediately in the aftermarket.
-
Nigeria’s Fidelity Bank has seen its freshly printed $400m five year paper rocket in the secondary market after pricing the bond on Wednesday.
-
Nigeria’s Fidelity Bank has caught the eye of yield hungry investors after announcing initial price thoughts of 11% area on a five year dollar trade.
-
Pan-Africa lender Guaranty Trust Bank has bought back $123.1bn of its outstanding bonds, making it the second African bank to address its upcoming maturities. Nigeria’s Fidelity Bank is looking to issue fresh debt to finance a buy-back of its $300m 2018s.
-
With 65m people displaced worldwide, the refugee crisis can seem insurmountable. But despite this daunting scale, initiatives are being tried that could help some of those affected. Citigroup’s charitable foundation is giving $2m to a project to train refugees for the job market and entrepreneurship, in Greece, Jordan and Nigeria.
-
Nigeria’s Fidelity Bank is planning to finance a buy-back of its $300m notes due 2018 with a new issue, as the country’s banks look to address upcoming maturities in 2018 and 2019.
