Africa

  • Investors pour in to Prosus’s euro debut

    Investors pour in to Prosus’s euro debut

    Prosus made a barnstorming debut outing in the European bond market after Monday’s dollar trade, with the ecommerce and investment company that straddles investment grade and emerging market investor interest seeing €13.5bn of demand for a €1bn deal.

  • Multilateral funding provides South Africa with hope

    Multilateral funding provides South Africa with hope

    Junk-rated South Africa has found some relief from its ballooning fiscal deficit through multilateral institutions, which are helping prop up its battered economy. Though the government has supported domestic lenders, there may yet be opportunities for them to enter international markets, some believe.

  • Africa issuers miss out on EM bond resurgence

    Africa issuers miss out on EM bond resurgence

    Emerging market bond issuance has staged a rapid and forceful comeback after the pummeling it took in March, but issuance from Sub-Saharan Africa has been noticeably absent. Bankers are now debating whether the fourth quarter will see supply from the region.

  • RWA deflation bolsters European bank capital levels

    RWA deflation bolsters European bank capital levels

    Credit analysts hope that European banks will be able to report much stronger capital levels in the second quarter, amid early signs that risk-weighted asset (RWA) volumes could be lower than expected.

  • Lenders gather for Africa’s biggest project financing

    Lenders gather for Africa’s biggest project financing

    Mozambique LNG, Africa’s largest project financing investment to date, has secured roughly $15bn of funding from a range of international lenders and credit agencies in one of the few sparks of emerging market loan activity this year. The deal shows there is still appetite for “overlooked” and lower-rated emerging market credits, bankers say.

  • Tunisia risks crash on rocky road to debt relief

    Tunisia risks crash on rocky road to debt relief

    Tunisia, one of the latest emerging market countries to fall into the grips of crisis, is facing myriad problems following its prime minister’s shock resignation this week. Though the government has approached sovereign creditors for debt relief, some say it may have more trouble obtaining payment holidays on its bonds, as the private sector debt relief debate for emerging markets brews.

  • Banks talk tough on Cocobod terms

    Banks talk tough on Cocobod terms

    Ghana Cocoa Board (Cocobod), which is in the market to refinance a one year $1.3bn loan facility signed in September, is facing troubles according to bankers on the deal, contrary to comments recently made by its chief executive.

  • Redefine Properties buys back €117m exchangeable bonds

    Redefine Properties buys back €117m exchangeable bonds

    Redefine Properties, the South African landlord, has completed a tender offer for all of its outstanding €117.2m bonds that are exchangeable into shares in RDI Reit, the London-listed real estate investment trust.

  • Redefine Properties restructures as pandemic hits landlords

    Redefine Properties restructures as pandemic hits landlords

    Redefine Properties, the South African real estate company focused on commercial properties, has completed a buy-back of its outstanding €117.2m 1.5% exchangeable bonds due 2021, as part of a wider restructuring of the firm.

Africa News Archive