Most recent/Bond comments/Ad
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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A recent $150m loan for Sub-Saharan-based telecommunications firm Africell has a four year tenor, bankers close to the deal have revealed. -
Africell, the Sub-Saharan-based telecommunications firm owned by Lebanon's Lintel Group, has signed a $150m syndicated loan with local and international lenders.
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Zambia has printed its $1.25bn bond with a yield higher than any other outstanding African sovereign bond, as investors have this year punished the country for falling copper prices, a weak kwacha and a gaping budget deficit.
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Those watching Zambia bonds might think that the $1.25bn deal this week yielding 9.375% demonstrates a borrower on the ropes considering in 2012 it paid a coupon of 5.375% for its debut bond. In fact, this is a borrower showing smarts when the rest of the CEEMEA gang appear to have bottled it.
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Zambia has released price guidance of 9.25%-9.75% for an 11 year amortising bond, at a yield level that was the highest for a sub-Saharan African sovereign benchmark.
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CEEMEA is refusing to put its feet up for the summer. Slovenia has reopened European sovereign supply, Zambia is prepping a dollar benchmark and rarer names are offering old school emerging market yields in the double digits.
