Africa
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Mauritius Commercial Bank has raised a new dual tranche $800m loan after receiving commitments of over $1bn. The deal was welcomed by bankers as one of the few new money financings in the market. -
JPM securitization banker leaves — Goldman Brexiter quits for politics — Balax enrols in fintech course
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Steinhoff International continued to dispose of assets this week with a R4.8bn (€293m) sale in KAP Industrial Holdings, the South African industrial company, with the company expected to shed more holding to meet its subsidiaries' funding requirements.
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Naspers, the South African technology conglomerate cheered European equity markets this week as it announced it would list its international assets in a new company on the Euronext Amsterdam. The company said that the deal would just be a spin-off transaction but sources close to the situation are not writing off the possibility of an IPO as well.
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Investec veteran Glynn Burger is stepping down.
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Rothschild & Co has appointed Martin Kingston as executive chairman of its board in South Africa, among other personnel moves in the country.
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Three sub-Saharan African credits hit screens this week after months of capital markets absence from the continent, riding a boost from the Federal Reserve and pulling off impressive transactions with more waiting in the pipeline.
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Kosmos Energy hit screens for its planned dollar benchmark on Thursday, benefitting from the dovish tone of the US Federal Reserve’s meeting on Wednesday.
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Ghana Cocoa Board has signed its first sustainability-linked loan facility, kick-starting this year’s environmental, social and governance financing in emerging markets. The deal emerges as a trio of global trade bodies have launched a set of standards to codify this fast-growing market segment, which some financiers are still trying to come to terms with. Mariam Meskin and Mike Turner report.
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Ghana became the first Sub-Saharan African sovereign to access the bond market this year on Tuesday, printing tranches of dollar paper on Tuesday and receiving one of the largest order books ever for a bond from the region.
