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
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Emerging market bond markets began with a softer tone on Wednesday after the resignation of Gary Cohn as Donald Trump’s economic adviser added to a more negative tone in global markets. Cohn is a supporter of free trade and opposed Trump's leanings towards protectionism.
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Price talk for Senegal’s new euro bond prompted fierce debate on Tuesday morning. Based on guidance, syndicate bankers away from the deal questioned the cost of the deal compared with a dollar issue, though the strong pricing result in euros may have put the debate to rest.
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Standard Bank’s Kenya branch is looking to raise $100m in the loan market, ahead of a maturity coming up for one of its loans in October.
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Republic of Senegal could well have timed to perfection its plans to issue a euro-denominated bond with EM investors calling this the “last chance” for EM borrowers to take advantage of extraordinarily low interest rates in the currency.
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Eskom, the South African state electricity company, signed a R20bn ($1.7bn) syndicated loan on Wednesday, a day after S&P downgraded it.
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Emerging market bonds have been buoyed by several positives in key markets this week including a cabinet reshuffle in South Africa that has seen the return of respected former finance minister Nhlanhla Nene, and the upgrade of Russia to investment grade by S&P.