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Trade the first corporate deal in CEEMEA since the war in the Middle East began
Angola earns praise for its $2.5bn reopener on Tuesday
A very rare sovereign issuer from CEE is preparing a new bond ahead of a maturity
Consortium of four banks provided financing with one bank new to deal
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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.
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Two pieces of the autumn IPO jigsaw have been revealed this so far this week by intention to float announcements. The market has also gained visibility on yet another deal by a UK closed-end investment fund.
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South Africa has had a bumpy ride this summer with the sovereign downgrade and the introduction of a new controversial mining charter in June. Despite that, the loan market has proved its resilience.
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Resilient Reit, the South African real estate investment trust, completed an accelerated capital increase on Tuesday morning that was tripled in size due to the strength of the demand.
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South African gold mining company Harmony Gold signed a $350m loan, making it the first in its industry to take out a loan since a new mining charter was introduced in June.
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Standard Bank of South Africa is looking to raise funding in what will be its first international markets deal for 10 years, according to sources.