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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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Nigeria sent out a request for proposals on Monday for a $1bn bond and has asked for responses by September 19. -
The usage of renminbi in Africa has long been talked up given China’s status as the continent’s largest trading partner. Developments over the past couple of years have been slow, however, though there are now signs of activity with several African nations visiting Hong Kong in November to learn more about RMB reserves management.
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Ascendis Health, the South African manufacturer of diet supplements, garden pesticides and medical equipment, has raised R1.2bn ($83m) through an oversubscribed rights issue that will enable it to complete two European acquisitions.
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South Africa's Steinhoff is lining up $3.8bn in loans to buy bedding retailer Mattress Firm. The acquisition will give the retailer a foothold in the US consumer market.
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African Export-Import Bank has appointed a new director for syndications, after hiring another senior loan syndication banker earlier this summer.
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Ethos Capital, a permanent capital vehicle belonging to Ethos Private Equity, one of the largest private equity companies in sub-Saharan Africa, had a bumpy ride on its first day of trading on the Johannesburg stock exchange.
