Africa
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Aspen Pharmacare Holdings, the largest drug manufacturer in South Africa, has nearly completed syndication of a large dollar loan, according to bankers. -
Gordon Dadds, a law and professional services firm, will begin offering a derivative documentation managed service as part of a newly launched consultancy business.
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Ghana Cocoa Board (Cocobod) will complete senior syndication of its $1.8bn annual loan and launch the general phase next week, according to a lead banker.
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Brent and WTI oil futures have risen to above $50 for the first time since November and July respectively, amid bullish short term positioning by aggressive managers and supportive supply data this week. But while traders called this a ‘psychological’ level for the commodity, physical markets are still sounding a note of caution.
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Afreximbank printed a bond of superlatives on Tuesday, achieving its biggest ever book and largest trade. But bankers on and off the deal debated whether the African supranational priced the note flat to or inside its curve.
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Afreximbank printed a bond of superlatives on Tuesday, achieving its biggest ever book and largest trade. But bankers on and off the deal debated whether the African supranational priced the note flat to or inside its curve.
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Afreximbank was offering 25bp-30bp new issue premium at guidance stage for its new five year dollar benchmark note on Tuesday.
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Kenya Power and Lighting Company (KPLC) has completed refinancing on $500m of loans, reducing its costs with the help of a World Bank guarantee.
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In this round-up, the AIIB gets ready for its first annual meeting as the president explains how the bank will work, the spread widens between offshore and onshore renminbi and Zimbabwe seeks trade settlement agreement. Plus, a recap of GlobalRMB’s top stories this week.
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Barclays made a convincing start to its plan of reducing its stake in Barclays Africa on Wednesday night, with a successful block trade that netted $4bn of demand from what bankers on it said was a very high quality group of institutions.
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A consortium including Bob Diamond’s Atlas Merchant Capital is still pursuing a potential bid for Barclays Africa, even after Barclays sold a 12% stake in it in a block trade on Wednesday night, and a senior regulator said a private equity bid would not be welcome.
