Africa Loans

Harmony Gold, a South African gold mining company, is in the market to raise $400m to refinance existing debt. The deal is being led by domestic lenders Absa Bank and Nedbank, according to bankers.

Ghana Cocoa Board, known as Cocobod, is likely to close its annual loan refinancing in September, and bankers expect it to have tight margins.

Egyptian General Petroleum Corporation (EGPC), a frequent borrower in the loan market, launched syndication for a $400m five year term loan on Tuesday. The loan, which will have a government guarantee, is expected to attract healthy demand.

GlobalCapital has launched its poll to determine the 2019 winners of its Sustainable and Responsible Capital Markets Awards. Market participants are invited to participate.

The loan, which marks Absa's return to the syndicated loans market after a decade, demonstrates healthy demand for the South African bank, despite the question marks surrounding credit risk in the country.

South Africa’s Absa Bank is expected to close its loan syndication by the end of this week, as an abundance of liquidity in the loan market, as well as healthy investor appetite for bank debt, causes pricing compression.

Ghana Cocoa Board, the central organisation for Ghana's cocoa industry, is in the process of raising $1.3bn to refinance existing debt.

The Republic of Angola has signed a €1bn credit line from Deutsche Bank to fund private investment projects in the country. The deal is part of a wider trend of increasing funding support for the country’s growing private sector.

Sasol, an integrated chemical and energy company, last week announced a five year $1.8bn loan with a range of leading international lenders. The loan is the first corporate one in South Africa since its hotly contested elections in May. Loan bankers expect to see an improvement in borrowing conditions as a number of banks tap the market before year end.

Guinea Alumina Corp, a subsidiary of Emirates Global Aluminium, has secured a $750m loan, in the largest financing package for a greenfield mining project in Guinea's history.

The head of international loan finance at South Africa's Standard Bank Group will retire after 37 years with the bank.

Ivory Coast will finalise a seven year loan imminently, according to bankers. The deal reflects healthy appetite for sovereign borrowing in the region.