Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The country offers huge potential and possible pitfalls for investors
A piece of very rare African senior bank issuance could also come this week
African issuers are dominating CEEMEA issuance
The company's curve has massively outperformed the South African sovereign this month
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Deals for the Kenya Pipeline Company and the Itare Dam project provided a boost for the Kenyan infrastructure sector, but these types of deals move in slow motion according to bankers. -
After a long time working on the deal, Kenya Pipeline Co has completed its $350m 10 year loan.
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Italian construction firm CMC Ravenna has raised €306m from BNP Paribas and Intesa Sanpaolo to build the Itare Dam in Kenya, with most of the funds guaranteed by Italian export credit agency SACE.
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Naspers reopened the market for CEEMEA corporates this week. But the rare nature of the credit means that few other borrowers can get away with similarly modest — if historically slightly elevated — premiums, said bankers on the deal.
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Zambia has picked banks for a dollar bond and finishes a roadshow next week. Stabilising copper prices have raised some analysts' outlooks on Zambia's existing Eurobonds, although those notes dropped in the secondary following announcement of a new trade.
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CEEMEA borrowers pounced on a clear window this week and paid for it with premiums as high as 50bp. But while everyone talks about the size of the concessions, it's worth noting that issuers showed the maturity to accept them.
