Africa
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The Seychelles’ $15m blue bond, issued last month to finance sustainability improvements to its maritime economy, was designed to satisfy all the needs of socially responsible investors and could therefore be used as a template, according to bankers at Standard Chartered who worked on the deal.
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Nigeria is rumoured to be planning the sale of a dollar bond, returning to the market for the first time since February. -
The Republic of Mozambique said on Tuesday that it had reached an agreement in principle with bondholders on a restructuring of its $726.5m 10.5% 2023s, which defaulted two years ago.
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Tunisia raised €500m of five year paper on Wednesday with a 144A/Reg S benchmark.
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South Africa is embarking on a series of investor update meetings, with no deal planned to follow.
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The Central Bank of Tunisia, on behalf of the sovereign, hit the market on Wednesday morning to print a five year euro benchmark.
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The Republic of Tunisia hit screens on Thursday, announcing a roadshow to promote a euro benchmark — the nation’s first since February 2017.
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SIFCA, Ivory Coast’s leading agricultural producer, signed a loan to finance agro-industrial transformation and renewable energy objectives last week, in a deal which has stimulated a debate as to whether further green financing could occur across West Africa.
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Telecom Egypt has signed its $500m loan, with 11 mostly Gulf region banks joining the trade during the syndication process.
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Old Mutual has launched a sale of shares in Nedbank Group Ltd, one of South Africa’s largest banks, on behalf of some of its investors who could not receive them as part of the bank’s unbundling from the Old Mutual Group, which was announced last month.
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Africa Finance Corp (AFC) has signed a $300m financing package from a Chinese state run bank for the first time, at a time when China’s lending into the continent is coming under increased scrutiny.
