Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Five year bond set to be priced much tighter than the development bank's last senior issue
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
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Oil products storage and distribution firm Puma Energy has increased the size of its latest revolver to $800m from $500m, with 35 lenders making commitments. The company has also managed to extend the maturity on part of a three year facility raised last year. -
Barclays made a convincing start to its plan of reducing its stake in Barclays Africa on Wednesday night, with a successful block trade that netted $4bn of demand from what bankers on it said was a very high quality group of institutions.
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A consortium including Bob Diamond’s Atlas Merchant Capital is still pursuing a potential bid for Barclays Africa, even after Barclays sold a 12% stake in it in a block trade on Wednesday night, and a senior regulator said a private equity bid would not be welcome.
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Investors are running to Daddy over Mozambique’s debt position. In this case, Daddy is the IMF, which is being asked to report the state of play in the country’s debt. But the IMF is right not to want any involvement. This is a risk for investors to handle.
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Barclays has this evening executed a R13bn ($900m) accelerated bookbuild in shares of Barclays Africa Group, its separately listed South African subsidiary, as the first stage in its already announced plan to divest the bank. The trade was covered in 35 minutes and multiple times oversubscribed.
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The IMF has confirmed to GlobalCapital that neither Mozambique’s Standby Credit Facility (SCF) nor the Policy Support Instrument (PSI) have been cancelled, as had been misreported by several news outlets. But bondholders are still calling for clarity over Mozambique's external debt.
