Africa Bonds
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The Republic of Cameroon is embarking on a roadshow in Europe and the US on Thursday. -
The Republic of South Africa starts a non-deal roadshow next week following a recent medium term budget policy statement, but also has a firm mandate outstanding for an international bond deal.
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The African Development Bank slipped in with a two year dollar syndication before a US Federal Open Market Committee meeting this week, which was priced all but flat to the borrower’s curve.
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Namibia knocked out a $750m 10 year note on Thursday, pricing only its second ever Eurobond with a single digit premium, according to bankers on the deal.
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Wells Fargo printed an impressive second Swiss franc deal for the year on Thursday, attracting strong demand not only from retail and private banking investors but also asset managers, insurance and pension funds.
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The Republic of Angola, owner of one of the most controversial CEEMEA mandates of recent years, has set roadshow dates for a deal three years in the making.
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The Republic of Namibia on Thursday opened books on its first deal in four years, and the first African sovereign bond without a guarantee since July.
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Citi has revamped its Middle East and Africa debt capital markets coverage, which it hopes will bring "increased focus and efficiency" to its business.
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Angola has decided to issue domestic debt linked to the dollar and shelved a plan for a Eurobond, according to analysts.
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Amid fears of falling commodity prices, emerging market fund outflows and what a Chinese slowdown could do to Africa, Ghana priced a $1bn 15 year deal on Wednesday.
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The Republic of Ghana opened books on a partially guaranteed amoritising deal on Wednesday, with alluring initial price thoughts in the 11% yield area.
