Africa Loans

Nigerian telecom towers group IHS continues to progress well with an $800m loan and should sign it within the week, bankers say. But there is mounting concern about the prospects for Nigerian financial institution and oil-related loans after fears rose of a default by Afren.

Stanbic Uganda will hold a signing ceremony this week for its debut syndicated term loan facility, which bankers involved say has been oversubscribed.

Investec Bank is looking to sign a three year loan with international lenders.

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South Africa’s Investec Bank is looking to sign a three year loan with international lenders.

Angola has agreed two loans worth $250m each with Goldman Sachs and Gemcorp Capital as it looks to weather the financial strain caused by recently plummeting oil prices.

A bank meeting this week in London for Nigerian telecom towers group IHS Holding was well attended, according to bankers on the deal, with as many as 30 institutions taking part.

A bank meeting this week in London for Nigerian telecom towers group IHS Holding was well attended, according to bankers on the deal, with as many as 30 institutions taking part.

Stanbic Uganda has progressed with plans for a debut loan and looks set to sign the deal by the end of this month.

IHS Holding, the Nigerian telecoms tower business, will hold a bank meeting in London on Tuesday next week for an $800m or equivalent loan facility, confirming GlobalCapital's report earlier this week.

Hashi Energy, a Kenyan oil products distributor, has approached banks as it looks to raise a $140m loan.

African borrowers have been busy in the loan market over the winter break, with Nigeria’s First City Monument Bank (FCMB) signing term loans and Stanbic Uganda rumoured to be coming to market. Meanwhile, IHS Towers is due to begin a roadshow for its loan and Zenith Bank of Nigeria has revealed the allocations of its recent $300m deal.