Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Underwriting left unused after deal is 33% oversubscribed
Simbah Mutasa and Sjoerd Van Hooijdonk step up from regional leadership roles
New government is seeking an IMF deal, which will likely require a debt rework
Paying off external arrears will help get an IMF deal over the line
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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. -
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.
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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.
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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 existing bonds, as the private sector debt relief debate for emerging markets brews.
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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.
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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.
