Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The government has enacted impressive reforms since 2023, but revenue collection is still weak
Hunt is on for ready issuers after bond prices recover
Senegal bonds are trading at distressed levels and there is a risk of restructuring
UK and South Africa firms to collaborate on equity research, trading and advisory
More articles/Ad
More articles/Ad
More articles
-
Emerging market bond investors are reporting low secondary flows in a market dominated by new issues this week. And the mixed performance of those new deals is expected to weigh on investor appetite for this week’s trades. -
Seplat Petroleum sold a $350m five year non-call two bond on Monday, turning down a larger trade that was available, according to a lead manager. The final print was being smaller than originally indicated.
-
The Arab Republic of Egypt has named four banks to manage its first euro-denominated bond sale.
-
Seplat Petroleum, a Nigerian oil and gas exploration and production company, was offering a 9% handle for its market debut on Monday.
-
The pipeline for euro-denominated African bonds is beginning to bulge, with Cote d’Ivoire announcing plans to follow Senegal to the market this week and Tunisia and Egypt preparing their own deals. But, as Virginia Furness reports, while large euro books show there is strong appetite for speculative grade supply, and is opening up a new funding channel for EM borrowers, the cost of funding in the currency versus dollars is unlikely to improve.
-
Combined books of $9.5bn enabled the Republic of Senegal to both print the tightest ever dollar 30 year dollar bond from a sub-Saharan African issuer (ex-South Africa), and to revise guidance by 50bp for its euro debut on Tuesday.
