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The subordinated debt premium was smaller than that offered by some other EM hybrid issuers
At London investor day, supranational reveals deals and plans for new funding and investments, including fully African project financing
The company is the only corporate issuer in North Africa, making it popular for investors
The company should benefit from a rise in fertiliser prices due to the Iran war
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Danakali, an Australian potash company, has raised a $200m credit facility from African lenders. Proceeds of the syndicated facility will go towards funding the planned Colluli potash project in Eritrea. -
Multiplex cinema chain Cineworld is betting on rapid expansion as it pours more billions into another North American acquisition. Cineworld, which is among the most shorted companies in the UK, plans to acquire Canadian competitor Cineplex in a $2.1bn deal financed by debt. This plan comes nine months after it made a $3.6bn acquisition in the US.
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Investec has entered the loan market for the third time this year, taking a $450m two year term loan from a range of international lenders.
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Renaissance Capital has added to its Nigerian investment banking team. The Russian bank continues to expand its offering on the African continent.
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European finance ministers are not keen on setting up a new development bank from scratch. They will instead start technical work on how to better streamline the operations outside the EU of the European Investment Bank and the European Bank for Reconstruction and Development.
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Brait, the troubled South African investment company, managed to issue a £150m five year convertible bond on Wednesday, an essential piece of its restructuring plan, which includes a new strategy, a recapitalisation, including a rights issue, to repay debt and the sale of two UK assets.
