Africa Bonds

Investors are running to Daddy over Mozambique’s debt position. In this case, Daddy is the IMF, which is being asked to report the state of play in the country’s debt. But the IMF is right not to want any involvement. This is a risk for investors to handle.

The IMF has confirmed to GlobalCapital that neither Mozambique’s Standby Credit Facility (SCF) nor the Policy Support Instrument (PSI) have been cancelled, as had been misreported by several news outlets. But bondholders are still calling for clarity over Mozambique's external debt.

ICBC Standard Bank has hired a head of corporate and bank sales, with additional responsibility for financing solutions.

The president of the Asian Infrastructure Investment Bank, Jin Liqun, tells Emerging Markets that he expects strong demand for its debt and reveals that he is looking to invest in emerging economies across the world as well as in Asia.

Banque Ouest Africaine de Developpement raised $750m with its debut international dollar note on Thursday after the US Federal Reserve left rates unchanged on Wednesday.

Banque Ouest Africaine de Developpement opened guidance on its debut dollar note on Thursday after the US Federal Reserve left rates unchanged on Wednesday.

Banque Ouest Africaine de Développement (BOAD) is holding an investor call for a dollar bond after first roadshowing in January.

The murky waters surrounding Mozambique’s ‘tuna bond’ have thrown up yet another secret loan. Bondholders are clamouring for answers after Mozambique’s freshly issued sovereign bonds dropped several cash points this week.

Steinhoff International, the South African furniture maker and goods retailer that has been on an acquisition spree, raised €1.1bn on Thursday with a convertible bond that bucked the recent trend of deals that have struggled, partly because it was the kind of simple, traditional structure investors like.

Investors and bankers last week called the end of African sovereign private placements, citing the hiccups of Angola, Tanzania and Mozambique. But all three of these bonds have proved good purchases for investors, and it is hard to see when African issuers will start turning down easy money.

The CNY NDIRS curve is steeper after a stronger CNY fix backed light offers in the short end while improved price data triggered paying around the five year tenor. Meanwhile, Nigeria is considering issuing a Panda bond, writes Deirdre Yeung of Total Derivatives.

The Brics bank is to finally make its capital markets debut later this month by issuing green bonds in RMB with the proceeds to be channelled into energy and infrastructure projects, sources have told Emerging Markets, a sister publication of GlobalCapital Asia.