Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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ECA-backed deal comes after AFC raises $2bn to fund infrastructure development
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
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Nigerian banks FCMB and Ecobank are in the market to refinance syndicated loans, although Ecobank comes behind schedule as its loan is about to mature. -
The Republic of Namibia on Thursday opened books on its first deal in four years, and the first African sovereign bond without a guarantee since July.
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Naspers, the South African media group, is amending and extending a $2.25bn five year loan led by Barclays and Citi, having issued its largest ever bond for $1.2bn in the summer.
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Citi has revamped its Middle East and Africa debt capital markets coverage, which it hopes will bring "increased focus and efficiency" to its business.
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Investec is looking for two syndicated loans totalling $530m, one for its South African business and the other for its London arm, according to bankers on the deal.
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The global financial crisis has accelerated the transition to a multipolar and multi-currency system, with the RMB being one if its new components, according to former Bank of Pakistan governor Yaseen Anwar, now a consultant for ICBC.
