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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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Republic of the Congo’s bonds dropped four cash points since Tuesday as all three ratings agencies downgraded the country this week. The downgrades follow the sovereign's default last week on a principal and coupon payment for its only international bond. -
Investor appetite for African risk seems to have found its upper limit as even the EM bulls would not stretch to buying Ghanaian sovereign risk at the asking price on Thursday, writes Virginia Furness.
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Republic of Ghana postponed its dollar bond issuance on Thursday after pricing moved against the issuer. It will proceed with a $100m buy-back of its 2017s but there is confusion about the outcome of a parliamentary vote on Tuesday.
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Public sector dollar flow picked up on Wednesday after a quiet start to the week, as World Bank brought a four year benchmark and Tunisia sold a bond backed by the US government.
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Egypt published a request for proposals for a new dollar bond on Wednesday as it works towards an agreement with the International Monetary Fund.
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Republic of Ghana is still expected to open books on a five year amortising note this week, though no exact timing has been given, a lead banker said on Wednesday.
