Africa Bonds
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It has been all about sub debt in CEEMEA this week, as a trio of borrowers took advantage of investor appetite for yield to boost their capital bases. -
The Eastern and Southern African Trade and Development Bank (PTA Bank) raised $500m of five year funding at a yield of 5.5% on Tuesday after attracting more than $2.2bn of orders.
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The Eastern and Southern African Trade and Development Bank (PTA Bank) set initial price thoughts for a new five year dollar bond on Tuesday morning.
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Helios Towers Africa (HTA) saw its debut dollar bond more than three times oversubscribed on Wednesday as investors jumped at the chance to take in paper yielding more than 9%.
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Helios Towers Africa (HTA) saw its debut dollar bond more than three times oversubscribed on Wednesday as investors jumped at the chance to take in paper yielding more than 9%.
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Helios Towers Africa emerged with pricing for a debut dollar deal on Wednesday after wrapping up an eight day global roadshow.
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The Eastern and Southern African Trade and Development Bank (PTA Bank) has announced plans to meet investors this week ahead of a potential dollar bond market return.
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Last year was a record in terms of number of downgrades of emerging market sovereigns, with another four added this year — Turkey, Mozambique, El Salvador and Costa Rica. But Société Générale on Friday became the latest firm to criticise the ratings agencies for their pessimism.
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Tunisia’s first Eurobond since 2005 demonstrated a firm show of support for a borrower which acknowledges it still has many issues to address – social, political and economic. But despite the deal’s success, Finance Minister Lamia Zribi said that Tunisia is keen to issue aid-backed bonds in future, in order to keep costs down.
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Fitch’s downgrade of Tunisia’s credit rating was based on out-of-date information and negatively impacted the sovereign’s recent Eurobond trade, Lamia Zribi, Tunisia’s finance minister told GlobalCapital.
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Even heavy indications from US Federal Reserve chair Janet Yellen the central bank will raise interest rates at its next meeting were not enough to derail the strong primary market in emerging market bonds.
