Africa
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Impala Platinum Holdings, the South African platinum mining company, has launched a tender offer to convert its outstanding 3.25% $250m June 2022 convertible bonds into equity, after a massive rally in its share price over the last year. -
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The Republic of Tunisia printed a tight €700m 6.375% 2026 bond on Wednesday from a book of nearly €2bn. A syndicate manager away from the deal said it was a good demonstration of the enthusiasm for emerging market credit.
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The Natural Disaster Fund, backed by the UK government, has a first option to subscribe to a small catastrophe bond to be issued by the Danish Red Cross, which conveys volcano risk.
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The initial guidance for the Reg S/144A deal was put out at 6.875% area on Wednesday morning in London.
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Ghana Cocoa Board, known as Cocobod, is likely to close its annual loan refinancing in September, and bankers expect it to have tight margins.
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The Republic of Tunisia does not finish its roadshow until Tuesday 9 July, but after a 100bp rally in its euro 2024s since the start of June and strong roadshow meetings so far, a seven year — the longer end of the planned tenor for the benchmark bond — looks to be on the cards.
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The Republic of Tunisia does not finish its roadshow until Tuesday, but after a 100bp rally in its euro 2024s since the start of June and strong attendance at the roadshow meetings so far, a seven year — the longer end of the planned tenor for the benchmark bond — looks to be on the cards.
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Egyptian General Petroleum Corporation (EGPC), a frequent borrower in the loan market, launched syndication for a $400m five year term loan on Tuesday. The loan, which will have a government guarantee, is expected to attract healthy demand.
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GlobalCapital has launched its poll to determine the 2019 winners of its Sustainable and Responsible Capital Markets Awards. Market participants are invited to participate.
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The loan, which marks Absa's return to the syndicated loans market after a decade, demonstrates healthy demand for the South African bank, despite the question marks surrounding credit risk in the country.
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The £540m IPO of Airtel Africa, the African division of India’s Bharti Airtel, has been priced at 80p, the bottom of the initial range, following a $100m anchor order from an existing investor, according to a source close to the transaction.
