Africa

Nigeria reopened its 2032s to raise an additional $500m on Wednesday, after making a successful foray into the international markets in February.

India’s Jindal Steel and Power (JSPL) is negotiating with lenders to extend maturities on syndicated and bilateral loans worth a total of about $760m, according to sources. With commodity prices having come out of last year’s lows, lenders are thawing to the sector but will continue to approach it with caution, writes Shruti Chaturvedi.

Life Healthcare, the South African private hospitals group, has finalised the terms for the R9bn ($712m) rights issue it is carrying out to finance its acquisition of Alliance Medical Group, the UK medical imaging services provider.

While global equities appear to be tanking, emerging market bonds are once again on fire with inflows supporting propping up what seems a never ending bid, but as ever, idiosyncratic risks are playing a bum note on some deals.

South Africa will meet investors in London and the US next week after announcing plans to borrow up to $2bn in the international markets this year.

Kenya finally launched an $800m loan into syndication after the appearance of another deal for the government delayed the process.

First Quantum Minerals raised $2.2bn for refinancing purposes on Thursday, in what was said to be the biggest corporate high yield bond issue from the CEEMEA region ever - though it was the same size as a VimpelCom deal in 2011.

South Africa’s Nedbank is dipping its toes into Asian liquidity for a $350m three year bullet that gives lenders the option of committing in dollars and euros.

A bold £2bn mandatorily exchangeable bond issue for Anil Agarwal, founder and chairman of Vedanta Resources, captured global headlines on Wednesday and Thursday as he used it to buy a stake of about 12% in Anglo American, the mining group.

Standard Bank filled its vacant head of DCM post with a hire from JP Morgan after Megan McDonald was promoted to head of international investment banking last year.

The IPO of Innogy was voted Equity Capital Markets Deal of the Year and JP Morgan judged ECM Bank of the Year in GlobalCapital's 2016 Awards - read the full results here.

Etisalat Nigeria will meet with 13 local lenders this week to discuss its restructuring plans for a $1.2bn loan taken out in 2013, according to the Nigerian Communications Commission (NCC).