Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Observers have questioned why the country is issuing debt at this price
The seven year dollar bond's yield will likely be one of the highest in CEEMEA in the last few years
The familiar problem of inter-creditor opacity has also reappeared
Company in 'no doubt' a public trade would have delivered better pricing
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Steinhoff International, the embattled South African retail conglomerate, sold a €251m block of shares in KAP Industrial Holdings on Tuesday, as it continues to raise money to plug holes in its balance sheet, but doubt remains about whether much is left to salvage from the business. -
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.
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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.
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The Arab Republic of Egypt has named four banks to manage its first euro-denominated bond sale.
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Seplat Petroleum, a Nigerian oil and gas exploration and production company, was offering a 9% handle for its market debut on Monday.
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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.
