Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Observers have questioned why the country is issuing debt at this price
The seven year dollar bond's yield will likely be one of the highest in CEEMEA in the last few years
The familiar problem of inter-creditor opacity has also reappeared
Company in 'no doubt' a public trade would have delivered better pricing
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Afren, the Africa-focused oil exploration company listed on the London Stock Exchange, has avoided default on a $300m loan after obtaining a deferral from banks on the $50m amortisation payment that was due on Saturday January 31 for its Ebok debt facility. -
Standard Bank has closed a sale of 60% of its markets business to Industrial and Commercial Bank of China, a deal which the bank will use to further “the group’s growth strategy in South Africa, and across the African continent.”
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African sovereign sukuk issuance could grow in the next two years, Bank of London and the Middle East (BLME) believes. But other analysts predict only one or two Africa sovereigns will follow South Africa into the international sukuk market.
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Egypt is preparing to follow Tunisia’s landmark return to the international bond market as investors shrug off conflict in Syria and the oil price’s collapse to regain appetite for Middle Eastern credits. Underscored by this week’s $1bn deal, confidence in the region has rebounded to levels last seen before the Arab Spring in 2011, writes Virginia Furness.
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A strong reception to a 10 year Eurobond from Tunisia this week — its first conventional bond since the Arab Spring —is proof that the country is on the right path in terms of financial autonomy, according to bankers.
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