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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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Anglo American’s announcement this week that it will increase its asset sales target to $4bn, as part of a plan to adjust to painfully lower minerals prices, is the latest sign of two trends that are expected to drive M&A activity and equity capital markets business in 2016: carve-outs and divestments of assets; and the shake-up in natural resources. -
South Africa is having rating trouble, and it looks serious. Since Friday, it is teetering on the edge of investment grade at both Standard & Poor’s and Fitch, a big problem for a country with a lot of infrastructure to build. But South Africa’s woes don't go too deep, and the country's growth could bounce back quickly.
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The Egyptian loan market is showing signs of recovery with deals from Banque Misr and National Bank of Egypt in recent months. Bankers say there is more to come in 2016.
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Ghana National Cocoa Board (Cocobod) is in the market for a three year club loan, after signing its annual $1.8bn one year loan refinancing in September.
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Egypt’s Banque Misr signed its $250m three year loan on Sunday with five lead banks.
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Zesco, the Zambian state-owned power firm, is syndicating a $122m seven year loan, part of which is guaranteed by US government agency USAID.
