Africa

IFC has issued its first ever rand denominated green bond as it continues to expand its global programme of climate aware financing.

ArcelorMittal South Africa is seeking to raise R4.5bn ($321m) to improve its weakened financial position, with a rights issue fully underwritten by its parent, ArcelorMittal Group.

Stanbic IBTC, the subsidiary of Standard Bank also known as Stanbic Nigeria, signed its debut syndicated loan on Wednesday with a mostly Middle Eastern syndicate.

Lonmin's $407m rescue rights issue passed its first hurdle on Thursday (November 19), when shareholders voted strongly to approve the deal. Lonmin's shares fell 2.6%, but that was mild by recent standards.

Kenya is offering to pay a margin 45bp higher than on its last loan, signed in 2012, as it syndicates a new $600m two year financing. The loan is drumming up strong interest.

FirstRand Bank was due to complete a $225m loan this week and bankers predict that more South African banks will come to the market regularly with smaller deals.

Bank of Georgia completed the IPO of its healthcare subsidiary on Monday, as it successfully priced the deal, although at a price much below what it had hoped for.

First City Monument Bank (FCMB) has signed a $77m one year loan, the first international syndicated loan this year for a borrower in Nigeria, which has been struggling with a low oil price and political instability.

First City Monument Bank (FCMB) has signed a $77m one year loan, the first international syndicated loan this year for a borrower in Nigeria, which has been struggling with a low oil price and political instability.

South African media group Naspers has amended and extended a $2.25bn five year loan and increased it to $2.5bn.

First City Monument Bank (FCMB) has signed its $77m loan, the first international syndicated loan this year for a borrower in Nigeria, which has been struggling with a low oil price and political instability.

As Ecobank syndicates one of the first Nigerian loans of the year, new lenders are joining the syndicate from Africa and, more surprisingly, the Middle East.