Africa Loans

Standard Chartered is sounding out Kenyan and international banks for a $500m loan for Kenya Power and Lighting Co that includes a World Bank guarantee.

Ghana National Cocoa Board (Cocobod) has entered the early bird senior phase of its annual loan, according to bankers involved in the deal.

Afren, the troubled oil exploration company, has avoided imminent bankruptcy with a $200m lifeline credit facility. The money injection follows a tense restructuring process in which two Nigerian banks dictated terms to a group of global financial giants, writes Olivier Holmey.

Loan Ranger was thrilled at the prospect of his impending trip to South Africa, until a leveraged loan banker gave him pause with a cautionary tale…

Hopes for new Nigerian loans are growing after the country’s election, with bankers optimistic that deals for banks and oil and gas companies could arrive soon.

Chevron Nigeria will hold a meeting with banks in London on Monday next week as it looks to build commitments for a $1.2bn loan.

Chevron Nigeria, which has extensive oil production operations in onshore and offshore Nigeria under a joint venture with Nigeria National Petroleum Corp, has launched a $1.2bn loan with dollar and naira tranches.

Kenya Pipeline Co is very close to signing a long-awaited loan with banks and is wrapping up final commitments, said bankers involved.

Chevron Nigeria and Maurel & Prom, a French company with African oil assets, are both talking with banks about loans despite recent oil market pressure.

Kenyan loans are in focus this week for the African market, with three government owned companies looking to arrange deals.

The deadline for proposal submissions on Ghana National Cocoa Board’s annual loan closed on Tuesday, with banks forming teams to compete for the deal.

As Nigeria head to the polls for tightly contested elections on Saturday, loans bankers said that a smooth conclusion should open the deal floodgates.