Africa

Egypt’s Oilex has signed a E£2.4bn ($134m) loan from regional lenders, as the country continues to draw in international financing after a stamp of approval from the IMF.

The African Development Bank is planning to issue its first benchmark syndicated green bond since 2015, in what is likely to the issuer’s final syndication of the year

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Shares in Investec, the Anglo-South African banking group, rose 8.7% on Friday after it announced that it had decided to spin off and list its asset management unit, following a strategic review.

African borrowers will soon add a new flavour to the wave of Middle Eastern issuance that has so far dominated the autumn pipeline.

The Depository Trust & Clearing Corporation (DTCC) on Wednesday called for "esoteric" exchange traded funds (ETFs) to be “closely monitored” and for a further expansion of clearing of derivatives and cash markets.

South Africa’s Democratic Alliance (DA) has sent a freedom of information (FOI) request for full terms of a $2.5bn-equivalent loan from China to utility Eskom, with the official opposition party fearing a potential loss of ownership of the company to its Asian creditors.

China lays out even more ambitious plans for lending, trading and investment in Africa at a summit in Beijing this week, the American Chamber of Commerce in Hong Kong (AmCham HK) makes political and economic agenda recommendations to the city’s government, and Hong Kong Exchanges and Clearing asks market participants to be ready for the implementation of investor ID on the Stock Connect.

Renaissance Capital has hired a new director for its DCM team as part of the bank’s expansion of its capital markets business in Africa.

Lenders have been “very significantly” scaled back in a $1bn loan for Egyptian General Petroleum Corp (EGPC), as demand for the pre-export finance deal far surpassed the cross-border trade linked to the loan’s structure.

South African precious metals mining company Sibanye Stillwater has launched a tender process to repurchase some of its high yield and convertible bonds.

The UK has announced an up to £750m export credit line to Nigeria, at a time when loans bankers say that sub-Saharan Africa names are tricky to finance.