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Africa

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Pod 'sell America'


The familiar problem of inter-creditor opacity has also reappeared
Company in 'no doubt' a public trade would have delivered better pricing
As with other private placements from Africa, observers have questioned the merits of the format
Benin reaped the rewards of its sukuk debut last week, and will do so for years to come
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  • Analysts expect the African National Congress (ANC) to win South Africa's general elections next Wednesday. Although a number of deep-rooted domestic problems have the potential to throw the country into an economic crisis, bankers expect FIs to remain "safe" in the worst of scenarios.
  • EPP NV, a Polish firm that owns malls and office buildings, raised over €90m of equity capital in Johannesburg on Wednesday last week.
  • FirstRand Bank has transferred outstanding dollar debt from one of its syndicated loans to Rand Merchant Bank International. The amendment comes amid an anticipated increase in loan activity from South African banks, which bankers are keeping a close eye on.
  • Gold Fields Limited, a gold producer with operating mines in Australia, Ghana, Peru and South Africa, is embarking on a roadshow to market a five to 10 year dollar benchmark.
  • Santander creates new sales role — Barclays origination banker leaves — Algomi co-founder helps another fintech
  • Ecobank launched its debut bond on April 11, but less than a week later, the price has shot up by between four and five points, prompting questions about the bond’s execution.