Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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The familiar problem of inter-creditor opacity has also reappeared
Company in 'no doubt' a public trade would have delivered better pricing
As with other private placements from Africa, observers have questioned the merits of the format
Benin reaped the rewards of its sukuk debut last week, and will do so for years to come
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Egypt has picked four international banks to manage its upcoming bond sale as it awaits approval on a $12bn extended fund facility (EFF) from the IMF’s executive board. -
Sovereign mandates are starting to trickle through in CEEMEA as borrowers ready themselves for September. Bahrain has picked five banks to manage a dollar transaction and the market is waiting for updates from Egypt and Nigeria.
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A couple of banks are finalising their approvals for the $1bn loan for South African telecoms group MTN and the deal is due to sign before the end of next week.
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Stanbic Bank Uganda, a unit of South Africa’s Standard Bank, is refinancing an $85m loan signed last year for a smaller one, according to one banker on the deal.
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The Eastern and Southern African Trade and Development Bank (PTA) is preparing to refinance a $320m credit line and is in the process of choosing banks to lead the deal.
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A slip-up by Ghana last week has done little to derail investor appetite for African credit and with the low rate environment set to continue, bankers expect no letup in the voracious bid for Africa, which is good news for those sovereigns already lining up trades.
