Africa Loans

South Africa’s Investec Bank expanded the syndicate for its latest loan from 17-20 banks, including two Chinese lenders.

South Africa's Investec Bank signed a $635m loan on Friday. The loan is its seventh since the beginning of last year, as it raises funds ahead of potential ratings downgrades.

Anheuser-Busch — MTN Côte d’Ivoire — Telekom Slovenije — ArcelorMittal

MTN Côte d’Ivoire is raising a $225m-equivalent loan in West African francs while parent company MTN Group, the South Africa-based mobile telecommunications firm, continues negotiations with the Nigerian government over a $5.1bn fine.

Standard Bank Kenya (also known as Stanbic CfC) will sign its loan on Thursday, while multilateral African bank AFC has nearly completed its $150m deal.

Kenya Power and Lighting Company (KPLC) launched its $500m loan refinancing on Wednesday after over a year in the making.

Egypt’s Banque Misr is finalising its second syndicated loan in over a decade, a murabaha deal for $200m.

Banks must make their commitments for Standard Bank Kenya’s (Stanbic CfC) $100m loan within a week, according to a lead banker.

The $150m loan for Africa Finance Corporation is still in the market, although commitments for the loan were due weeks ago.

The $400m loan for South Africa's Investec Bank will be oversubscribed, despite the bank being put on review for a downgrade, according to a banker on the deal.

Standard Bank of South Africa launched syndication for its loan with a whopping eight banks leading the deal, including four Chinese firms and HSBC.

Barclays’ plan to cut its exposure to African operations has left emerging market bond and loan bankers puzzling what future the firm has in the region — historically one of its areas of strength within CEEMEA — but it will leave the UK firm better capitalised.