Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Speed possible in the private placement market proves attractive, even if the issuer may pay a bit more for it
Gulf investors 'will now look at every deal', whether sukuk or not
Demand from the Middle East for the sukuk was steady
The deal has not been pulled or put on hold, said sources involved
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Standard Bank has signed a $1bn syndicated loan with 43 banks on the ticket, marking another success for South Africa’s banking industry despite suffering rating downgrades earlier this year. -
Republic of Congo’s 6% 2029s jumped nearly 10 cash points after restraining orders on the issuer’s trustee, which prevented payments reaching bondholders, were lifted.
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Investec has had an overwhelming response to its $300m loan, which was launched back in June, with 30 banks on the ticket taking commitments over $650m despite downgrades to the credit rating of both the borrower and its sovereign, South Africa.
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Kenya has opted to extend a $750m loan which is due to mature in two months, due to the onset of violence after its election result making alternative funding difficult.
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South African lenders, Investec and Standard Bank’s loans are due to sign this week, along with United Biscuits' acquisition loan, which is expected to close tomorrow.
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The autumn IPO season in EMEA got off to a promising start on Wednesday when Steinhoff International, the South Africa-based retail group, announced the launch of what will be one of the biggest IPOs on the Johannesburg Stock Exchange in recent years. If the hospitable market conditions hold, bankers are confident that it will be the first of many important deals over the coming months, writes Aidan Gregory.
