AFC boosts Swissie exposure, nabbing negative NIP

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By Ross Lancaster
19 Nov 2019

Africa Finance Corporation (AFC) increased its Swiss franc debt stack on Tuesday, pricing a Sfr200m ($202m) four-year bond that was double the size of its last outing in the market.

After being mandated on Monday, bookrunners Credit Suisse and Renaissance Capital announced the deal on Tuesday morning. They gave initial price thoughts in a 115bp-120bp range over mid-swaps. On the back of investor feedback, the leads then announced a Sfr100m minimum deal size and saw books surpass ...

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