Africa Loans

In an otherwise subdued African loan market, commitments for a $150m deal for Africa Finance Corporation were due on Thursday, according to a banker on the deal.

After a rough ride for Zambian loans and bonds in recent months, state-owned power firm Zesco will finally sign its delayed seven year loan this week.

South African Investec is refinancing a $335m credit facility and is increasing the size of the deal to $400m.

As Africa Finance Corporation launches a $150m loan, other African development finance institutions are lining up to follow, according to bankers.

Sociedade Nacional De Combustíveis De Angola (Sonangol) has completed a lengthy loan syndication for a $1bn five year loan, with Chinese banks taking big tickets, according to a banker on the deal.

Standard Bank is in the market for two loans, a $750m deal for Standard Bank of South Africa and a deal for its Kenyan subsidiary, Stanbic Kenya, according to bankers.

As Africa Finance Corporation launches a $150m loan, other African development finance institutions are lining up to follow, according to bankers.

Sociedade Nacional De Combustiveis De Angola (Sonangol) has completed a lengthy loan syndication for a $1bn five year loan, with Chinese banks taking big tickets, according to a banker on the deal.

Standard Bank is in the market for two loans, a $750m deal for Standard Bank of South Africa and a deal for its Kenyan subsidiary, Stanbic Kenya, according to bankers.

International Finance Corp (IFC) is set to offer a funding lifeline to Nigeria’s banks after the country sought emergency loans this weekend.

Indian company UPL is making a return to the international syndicated loan market after a break of nearly 10 years with a $200m borrowing.

Middle Eastern loans burst open in the fourth quarter of 2015, with deals aplenty for corporates, banks and sovereigns. The deal flow will not ebb this year, but pricing will rise and international lenders will play a bigger role, replacing local lenders. Elly Whittaker reports.