Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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Loan bankers in South Africa are pining for more deals, to curb the compression of margins as the ranks of lenders to the region are swelled by money from the Middle East and Asia. -
Mozambique’s debt crisis is the latest financial market hot potato to be passed around by its stakeholders with a series of statements that would not look out of place in an election campaign. But with the IMF in the country and Mozambique’s future ability to pay looking ever more likely, it is time to reach an agreement, restructure and move on.
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Bankers were calling the end of the dream run in emerging market bonds on Friday after Liquid Telecom was unable to tighten pricing or meet the $600m size target for its debut note on Thursday.
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Debut issuer Liquid Telecom had the sole focus of the CEEMEA primary bond market this week with bankers on the deal hoping that the combination of high yield and low duration will tick the right boxes for investors as rates continue to tick up.
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Pan-African fibre cable company Liquid Telecom is expected to come to the market with a $600m five non-call three year trade this week, bolstered by sharply improving sentiment towards sub-Saharan Africa credit.
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Bondholders and creditors remain at loggerheads over the restructuring of Mozambique’s debt following the publication of an independent audit of the country’s debt by risk assessment firm Kroll.
