Africa Bonds

Narjess Aschi has been appointed Citi’s new head of financial institutions corporate banking for the Middle East and North Africa.

Anglo American, the London-headquartered South African mining company, has issued a €600m five year bond.

Kevin Latter has been appointed head of investment banking in South Africa at Bank of American Merrill Lynch.

The bookrunner league tables for international sukuk are skewed by huge lead manager line ups and low overall volumes and need to be taken with a pinch of salt.

The bookrunner league tables for international sukuk are skewed by huge lead manager line ups and low overall volumes and need to be taken with a pinch of salt.

Afren, the London-listed, Africa-focused oil exploration company, has heralded its initial agreement with a group of lenders and bondholders as the only way to avoid default.

Sappi, the Austrian-South African paper maker, on Thursday priced its €450m of senior secured bonds inside price guidance, into a high yield market with solid demand this week.

Pan-emerging markets telecoms and media group Millicom sold a $500m 10 year non-call five note on Tuesday, tightening pricing by 25bp from initial price thoughts despite another day of torrid secondary markets in Latin America.

Austrian-South African paper maker Sappi will begin on Wednesday in London the roadshow for its €450m of senior secured notes.

Struggling Afren is in talks with bondholders to restructure its Eurobonds due 2016. The company missed a coupon payment on its February 2016s earlier this month.

Ivory Coast paid a lower new issue premium than expected to re-open the sub-Saharan sovereign bond market this week, sparking debate on the implications for other African borrowers.

Ivory Coast bagged over $4bn of orders for its new Eurobond on Tuesday, with investors taking comfort in the amortising structure which is becoming a feature of the African sovereign market.