Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Investors were eager to tender their bonds despite initial resistance
Inclusion of a variable rate instrument was not acceptable to official creditors
Oil producer's cost of funding has fallen hundreds of basis points since February
Sovereign's Eurobond began about 40bp back of fair value, said leads
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Foschini Group, the South African fashion retailer, raised R2.5bn ($190m) of equity capital on Monday night, in an accelerated capital increase that was increased from R2bn. -
Foschini Group, the South African retailer of clothing, cosmetics and jewellery, has launched the sale of R2bn ($150m) worth of new shares to repay a loan used for an acquisition in Australia.
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Republic of Congo looked dangerously close to default on Monday morning with the bonds holding around a cash price of 70 as investors, who are waiting for a $21m interest and principal payment, await an update from the sovereign. The 30 day grace period for repayment expired on Sunday.
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Steinhoff Europe made its debut in senior euro corporate bond markets on Monday and was the only issuer to offer investors a transaction on the day. The €750m 7.5 year deal followed a European roadshow last week.
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Investors jumped at the chance to buy rare longer dated investment grade African risk on Thursday enabling Banque Ouest Africaine de Développement (BOAD) to raise $850m with a 10 year benchmark on Thursday.
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Investors dumped Ghana's Eurobonds this week after the future of its relationship with the International Monetary Fund was thrown into doubt. The confusion has been unhelpful to a country which has historically had difficult relationships with international markets, though it did point to the over-reliance of some investors on an IMF anchor, writes Virginia Furness.
