Africa Bonds
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Mining company Petra Diamond closed a successful $300m debut deal this week, which was trading well in the secondary market on Thursday, said bankers on the deal.
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Mining company Petra Diamond is planning to price a $300m high yield bond debut on Wednesday afternoon. -
Petra Diamond, the mining group that is headquartered in Jersey but has operations in South Africa, Tanzania and Botswana, is meeting investors in London and the US in preparation to print a $300m five year non-call two bond.
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Investec brought a touch of emerging markets to the sterling FIG market on Monday, launching a seven year deal as bankers talk up the currency against euros.
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Supranational lender Africa Finance Corp’s Wednesday debut was a “massive exercise in price discovery,” said bankers on the trade. But one that ended with the right spread and an increased deal size on the back of strong demand.
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FirstRand on Thursday printed a $500m bond with a spread of 100bp or less over the Republic of South Africa, with the order book for the deal having closed at $1.9bn.
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FirstRand has launched its $500m bond at with a spread of less than 100bp over the Republic of South Africa, with the order book for the deal having closed at $1.9bn.
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Supranational lender Africa Finance Corp’s Wednesday debut was a “massive exercise in price discovery,” said bankers on the trade. But one that ended with the right spread and an increased deal size on the back of strong demand.
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FirstRand finishes the roadshow for its senior bond on Tuesday and is likely to release initial price thoughts on Wednesday.
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Africa Finance Corp is planning to print a four times subscribed $500m debut on Wednesday afternoon.
