Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Underwriting left unused after deal is 33% oversubscribed
Simbah Mutasa and Sjoerd Van Hooijdonk step up from regional leadership roles
New government is seeking an IMF deal, which will likely require a debt rework
Paying off external arrears will help get an IMF deal over the line
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ArcelorMittal South Africa is seeking to raise R4.5bn ($321m) to improve its weakened financial position, with a rights issue fully underwritten by its parent, ArcelorMittal Group. -
Stanbic IBTC, the subsidiary of Standard Bank also known as Stanbic Nigeria, signed its debut syndicated loan on Wednesday with a mostly Middle Eastern syndicate.
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Lonmin's $407m rescue rights issue passed its first hurdle on Thursday (November 19), when shareholders voted strongly to approve the deal. Lonmin's shares fell 2.6%, but that was mild by recent standards.
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Kenya is offering to pay a margin 45bp higher than on its last loan, signed in 2012, as it syndicates a new $600m two year financing. The loan is drumming up strong interest.
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FirstRand Bank was due to complete a $225m loan this week and bankers predict that more South African banks will come to the market regularly with smaller deals.
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The Republic of Cameroon’s $750m 9.75% amortising dollar 2025s were bid around a point lower than reoffer on Monday morning, as lead managers Société Générale and Standard Chartered Bank released book statistics for the trade.
