Africa

The Republic of Ghana opened books on a partially guaranteed amoritising deal on Wednesday, with alluring initial price thoughts in the 11% yield area.

People’s Bank of China (PBoC) named Bank of China Zambia branch (BoC Zambia) as the latest RMB clearing bank, the central bank said in a statement on 30 September.

In Stanbic Kenya’s latest $155m loan, the bank tightened pricing by 5bp for the two year tranche compared to what it paid last year.

Stanbic Kenya included its first ever three year tranche as it signed a $150m loan in Dubai today (Monday), after increasing the deal from $100m.

The Republic of Ghana has picked banks for a dollar benchmark deal that is likely to come with a partial guarantee from the World Bank’s International Development Association (IDA).

Standard Bank is planning a loan for Stanbic Nigeria, its third loan for a subsidiary following deals it completed for Stanbic Kenya and Stanbic Zambia in recent weeks.

Stanbic Zambia signed its debut syndicated loan on Friday and increased the deal to $75m, after oversubscription from lenders.

Renaissance Capital has appointed Temi Popoola as its CEO for Nigeria.

Brait, the South African private equity firm listed in Luxembourg and Johannesburg, issued a £350m convertible bond on Friday September 11. A banker at one of the leads said the deal, a true credit instrument, was very unusual for a company of this kind.

Outflows from emerging market portfolios since the August unrest are edging ever closer to the volumes seem during the Taper Tantrum of 2013.

Ghana’s Cocobod, Stanbic Kenya and Stanbic Zambia will all sign syndicated loans next week, according to bankers on the deals.

Egypt’s Banque Misr is planning a loan for around $200m and will mandate lead banks next week, according to an official in talks with the bank.