Africa
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The IPO of Steinhoff Africa Retail, known as Star, the African discount store assets of Steinhoff International, has been priced at R20.50 a share, the midpoint of the initial R18 to R23 range. -
FirstRand Bank has begun syndication of a $250m loan, aimed at Asian lenders.
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Millicom International Cellular has added to a growing corporate bond pipeline this week with a 10 year non-call five note, which will be combined with a buy-back.
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South African bank Investec signed a $600m syndicated loan on Wednesday, double the initial launch amount, making it the second successful bank financing to come out of the country this month after Standard Bank’s $1bn loan.
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Niche players see MiFID II's research rules as an opportunity to win market share.
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After the US public holiday on Monday restricted trading, the equity block trades market in EMEA reopened spectacularly this week, with a rush of large deals from across the region.
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Steinhoff International, the South African conglomerate, has opened the books on the IPO of Steinhoff Africa Retail (Star), a company formed from its African retail assets, which could value the business at up to R79.3bn ($6.1bn) if it is priced at the top of its range.
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Tanzania has signed a $500m loan with Credit Suisse and a syndicate of other banks, according to an official close to the deal.
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Fairfax Africa has taken its stake in Atlas Mara, the African investment vehicle co-founded by former Barclays CEO Bob Diamond, up to 42.4% after completing a strategic financing.
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The summer lull is at an end and borrowers have sprung back into action. The BondMarker voters have delivered their verdict on which of last week's deals impressed.
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In spite of the recent downgrade of South Africa and five of its largest banks, Standard Bank and Investec have received overwhelming demand from international banks for their loan financings.
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Standard Bank has signed a $1bn syndicated loan with 43 banks on the ticket, marking another success for South Africa’s banking industry despite suffering rating downgrades earlier this year.
