African Bank pulls $300m bond on regulatory investigation
African Bank postponed its $300m bond offering at the last minute on Thursday after South Africa’s National Credit Regulator (NCR) recommended to the country's National Consumer Tribunal that the bank pay a R300m ($34m) fine as the result of an investigation into what the regulator described as "fraudulent activity" at one of the bank's branches.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts