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Africa

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  • Investors, bankers and traders have lined up to pour scorn on Ghana finance minister Ken Ofori-Atta’s expectations that the country will issue $5bn-$10bn of century bonds before the end of the year, the first part of a plan to sell $50bn of such bonds.
  • African private placements are expected to rise in the coming months as issuers eschew the high prices of public bonds after the emerging markets sell-off over the summer.
  • Carl Mace has started at ICBC Standard Bank to trade hard currency EM sovereign debt.
  • Emerging markets-focused mining firm Trevali Mining has amended and extending an existing loan facility, bringing its revolving credit facility up to $275m.
  • Ghana Cocoa Board (Cocobod) signed its $1.3bn trade finance facility of Thursday, as the company prepares to start funding purchases for the coming harvest.
  • South African chemicals and energy company Sasol has released initial price thoughts on a dual tranche dollar bond on Thursday morning in London.