Africa
-
Eskom, the South African state-owned electricity firm, is arranging a syndicated loan with a guarantee from African Development Bank (AfDB), and the deal could be as large as $1bn, said one banker this week. -
USAID has extended a $500m guarantee that will enable Tunisia to access affordable financing from the international capital markets, after plans for standalone access were put on hold in April.
-
In this round-up, RMB deposits shrink further in Singapore and Hong Kong, the Stock Connect scheme southbound channel continues to dominate trading, China prepares for direct trading of RMB and Korean won, and Italian enterprises are found to be warming up to the RMB. Plus, a recap of GlobalRMB’s coverage this week.
-
Investec, the South African-UK bank and asset manager, raised £138.3m on Thursday with a 5% capital increase, conducted as an accelerated bookbuild by JP Morgan.
-
Cleopatra Hospital Co has raised E£360m ($40m) with an IPO that its vice-chairman said was a sign of renewed investor confidence in Egypt’s capital markets and healthcare sector.
-
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.
-
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.
-
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.
-
-
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.
-
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.
